Lithuania Electronic Money Institution

Lithuania offers a favorable regulatory environment for Electronic Money Institutions (EMIs), allowing companies to issue electronic money and provide payment services within the European Economic Area (EEA). The Bank of Lithuania is the regulatory authority, and obtaining an EMI license involves preparing comprehensive documentation, meeting a minimum capital requirement of EUR 350,000, and ensuring compliance with anti-money laundering (AML), data protection, and risk management standards. The licensing process typically takes 3-6 months, after which the company can operate across the EEA under the EU passporting system.

The company in question, licensed as an EMI in 2019 and starting operations in 2021, has minimal activity, with only one client at present. It is connected to SEPA through Centrolink and holds two security accounts with two banks. The company also holds a Mastercard membership, with Visa membership expected soon. Lithuania’s strong fintech ecosystem, strategic location within the EU, and advanced technological infrastructure make it an attractive jurisdiction for financial technology companies seeking growth and expansion opportunities.