What is an EMI license in Lithuania and what is it for?
EMI (Electronic Money Institution) license is a permit issued by the Central Bank of Lithuania, which allows companies to provide a wide range of financial services, including issuing electronic money, payment transactions, transfers and servicing electronic wallets.
Lithuania has become one of the most popular jurisdictions for fintech companies, as the EMI license here allows legal operation throughout the EU thanks to the “passporting” mechanism, and also offers favorable conditions for business. This makes Lithuania an ideal choice for entrepreneurs looking to obtain a fintech license and expand across Europe efficiently and compliantly.
Why Lithuania?
The Bank of Lithuania actively supports innovative financial solutions and offers:
- Fast and efficient licensing procedure – the period for obtaining a license can be up to a year, which is significantly faster than in other EU countries;
- European passporting – the license allows providing services in all EU countries without the need to obtain additional permits;
- Favorable tax system – low operating costs make Lithuania one of the most attractive jurisdictions for fintech businesses;
- Flexible regulatory requirements – capital and reporting requirements are less stringent compared to banks.
Opportunities with EMI license in Lithuania
Lithuania is a fintech hub in Europe, offering a fast and transparent licensing procedure. The key benefits of obtaining an EMI license here are:
- Fast licensing – the process can take up to 1 year.
- Access to the EU market – the ability to operate in all 27 EU countries without additional licensing.
- Low capital requirements – only €350,000 minimum share capital (compared to higher requirements in other countries).
- Transparent legal environment – licensing is carried out by the Central Bank of Lithuania, which has established itself as one of the most loyal and innovative regulators in Europe.
- Access to SEPA and SWIFT – the ability to connect to major international payment systems and provide IBAN accounts to clients.
- Developed fintech infrastructure – Lithuania actively supports innovative financial technologies
Basic Requirements for Obtaining an EMI License
- Minimum share capital – EUR 350,000;
- Physical presence in Lithuania – it is necessary to register a company and open a local office;
- AML/KYC system – development and implementation of anti-money laundering and customer identification procedures.
- Compliance and reporting – the company is required to comply with European regulatory standards and regularly submit financial statements;
- Experienced management – the company’s managers must have relevant qualifications and experience in the field of finance.
How to Get an EMI License in Lithuania?
Step 1: Company registration in Lithuania
Компания должна быть зарегистрирована как юридическое лицо в Литве. Подходящие правовые формы:
- UAB (closed joint-stock company) is the most popular form;
- Requires a share capital of EUR 350,000.
Step 2: Prepare a business plan
Регулятор требует подробный бизнес-план, который включает:
- Description of the business model;
- List of services and target market;
- Financial forecasts;
- Risk management mechanisms.
Step 3: Developing an AML/KYC Policy
The company is required to prepare anti-money laundering (AML) documents, including:
- KYC (customer identification) policy;
- Transaction monitoring policy;
- Fraud prevention policy;
- Appointment of an AML officer.
Step 4: Opening a corporate account
The company must open an account in a Lithuanian commercial bank and contribute EUR 350,000 in share capital.
Step 5: Submitting an application to the Central Bank of Lithuania
The application is submitted to the Central Bank of Lithuania and includes:
- Company registration documents;
- Management and shareholder information;
- Business plan;
- AML/KYC policy;
- Proof of capital.
Step 6: Application review and licensing
- The Central Bank of Lithuania reviews the application within 3-6 months;
- Additional requests for clarifications or documents are possible;
- After approval, the company receives a full EMI license.
Conclusion
An EMI license in Lithuania is an ideal solution for fintech companies looking to enter the European market and offer modern payment services throughout the EU. Thanks to fast licensing, a loyal regulatory environment and access to international payment systems, Lithuania has become one of the best jurisdictions for the development of electronic payment services.
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Frequently Asked Questions
Can the EMI licence be used in other EU countries?
Yes, after receiving a license in Lithuania, a company can legally operate in all EU countries without the need to obtain additional permission.
What documents are required to submit an application?
- Company registration documents.
- Business plan with financial forecasts.
- AML/KYC policy.
- Information about management and shareholders.
- Confirmation of contribution of authorized capital.
- Technical description of the payment platform.
How much does it cost to obtain an EMI license in Lithuania?
- The main costs include:
- Registration fee – 1,463 euros.
- Minimum capital – 350,000 euros.
- Legal support and consultations – from 30,000 euros.
- Technical integration and development of payment solutions – from 10,000 euros.
- On average, the licensing process costs from 50,000 to 100,000 euros.
What are the company's obligations after receiving a license?
- Regular financial reporting to the Central Bank.
- Compliance with AML/KYC procedures.
- Passing an annual audit.
- Ensuring the financial stability of the company.
What is the difference between an EMI license and a PSP (Payment Institution) license?
- EMI allows you to issue electronic money, provide payment services and open IBAN accounts.
- PSP (Payment Service Provider) is a more limited license that gives you the right to process payments, but does not allow you to store customer funds.
What are the risks associated with obtaining an EMI license?
Key risks include:
- Strict AML/compliance requirements.
- Regular reporting required.
- Long integration process with banking partners and payment systems.
Is it possible to sell an EMI license?
The license is issued to a specific company and cannot be sold, but the company itself with the license can be sold (M&A transaction).
Is it possible to obtain an EMI license without physical presence in Lithuania?
No, you need to register a local company and have at least one employee in Lithuania.
Which companies are already operating in Lithuania with an EMI license?
Fintech giants such as Revolut, Paysera, N26 have already received an EMI license in Lithuania and are successfully operating in the EU.
How do I start the process of obtaining an EMI license?
If you need an EMI license in Lithuania, contact licensing experts – we will help you at all stages!
