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The franchising program is offered by MergersUK Limited a UK Company with registered office at 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.
An Electronic Money Institution (EMI) license in Lithuania allows companies to issue electronic money and provide various payment services within the European Economic Area (EEA). Lithuania has become an attractive location for financial technology companies due to its favorable regulatory environment and efficient licensing process.
Key Features of an EMI License in Lithuania:
Regulatory Authority: The Bank of Lithuania is the regulatory authority responsible for issuing EMI licenses.
Licensing Process:
Application Preparation: The applicant must prepare comprehensive documentation, including business plans, internal control mechanisms, risk management procedures, and anti-money laundering (AML) policies.
Submission: The completed application is submitted to the Bank of Lithuania.
Review and Decision: The Bank of Lithuania reviews the application, which may include requesting additional information or documentation. The process typically takes around 3-6 months.
Capital Requirements:
For an EMI, the minimum initial capital requirement is EUR 350,000.
Management and Governance:
The applicant must demonstrate that the management team has the necessary experience and qualifications.
A clear governance structure with defined roles and responsibilities must be established.
Operational Requirements:
Anti-Money Laundering (AML) Compliance: Robust AML policies and procedures must be in place.
Data Protection: Compliance with GDPR and other data protection regulations is required.
Risk Management: Effective risk management systems and internal controls must be established.
Passporting Rights: Once licensed, an EMI can operate across the EEA without needing additional licenses in other member states, thanks to the EU passporting system.
Advantages of Obtaining an EMI License in Lithuania:
Regulatory Support: The Bank of Lithuania provides support and guidance to fintech companies, facilitating smoother licensing processes.
Business Environment: Lithuania offers a favorable business environment with a growing fintech ecosystem.
Strategic Location: Lithuania’s location in the EU allows for easy access to the European market.
Technological Infrastructure: Lithuania has advanced technological infrastructure and a skilled workforce, supporting fintech innovation.
Main details:
* Location: Lithuania;
* EMI license: obtained in 2019;
* Started operations in 2021;
* Practically no activity in 2022;
* Company is clean, only one client at the moment;
* Company connected to SEPA via Centrolink;
* Two security accounts with two banks;
* Mastercard membership from 2021 and Visa membership coming soon.
An Electronic Money Institution (EMI) license in Lithuania allows companies to issue electronic money and provide various payment services within the European Economic Area (EEA). Lithuania has become an attractive location for financial technology companies due to its favorable regulatory environment and efficient licensing process.
Key Features of an EMI License in Lithuania:
Regulatory Authority: The Bank of Lithuania is the regulatory authority responsible for issuing EMI licenses.
Licensing Process:
Application Preparation: The applicant must prepare comprehensive documentation, including business plans, internal control mechanisms, risk management procedures, and anti-money laundering (AML) policies.
Submission: The completed application is submitted to the Bank of Lithuania.
Review and Decision: The Bank of Lithuania reviews the application, which may include requesting additional information or documentation. The process typically takes around 3-6 months.
Capital Requirements:
For an EMI, the minimum initial capital requirement is EUR 350,000.
Management and Governance:
The applicant must demonstrate that the management team has the necessary experience and qualifications.
A clear governance structure with defined roles and responsibilities must be established.
Operational Requirements:
Anti-Money Laundering (AML) Compliance: Robust AML policies and procedures must be in place.
Data Protection: Compliance with GDPR and other data protection regulations is required.
Risk Management: Effective risk management systems and internal controls must be established.
Passporting Rights: Once licensed, an EMI can operate across the EEA without needing additional licenses in other member states, thanks to the EU passporting system.
Advantages of Obtaining an EMI License in Lithuania:
Regulatory Support: The Bank of Lithuania provides support and guidance to fintech companies, facilitating smoother licensing processes.
Business Environment: Lithuania offers a favorable business environment with a growing fintech ecosystem.
Strategic Location: Lithuania’s location in the EU allows for easy access to the European market.
Technological Infrastructure: Lithuania has advanced technological infrastructure and a skilled workforce, supporting fintech innovation.
Main details:
* Location: Lithuania;
* EMI license: obtained in 2019;
* Started operations in 2021;
* Practically no activity in 2022;
* Company is clean, only one client at the moment;
* Company connected to SEPA via Centrolink;
* Two security accounts with two banks;
* Mastercard membership from 2021 and Visa membership coming soon.
Description
An Electronic Money Institution (EMI) license in Lithuania allows companies to issue electronic money and provide various payment services within the European Economic Area (EEA). Lithuania has become an attractive location for financial technology companies due to its favorable regulatory environment and efficient licensing process.
Key Features of an EMI License in Lithuania:
Advantages of Obtaining an EMI License in Lithuania:
Main details:
* Location: Lithuania;
* EMI license: obtained in 2019;
* Started operations in 2021;
* Practically no activity in 2022;
* Company is clean, only one client at the moment;
* Company connected to SEPA via Centrolink;
* Two security accounts with two banks;
* Mastercard membership from 2021 and Visa membership coming soon.
Basic Details
Target Price:
€2,000,000
Gross Revenue
TBA
EBITDA
TBA
Business ID:
L#20240678
Country
Lithuania
Detail
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