Cryptolicenses in Lithuania - TOP 1 in Europe
In 2022, Lithuania has become one of the most convenient and popular countries in Europe regarding cryptolicensing. The country imposes loyal requirements and has set a low entry threshold - the minimum required authorized capital for 2022 is only 2,500 euros.
Which cryptocurrency companies are suitable for Lithuania?
Cryptocurrency license in Lithuania is suitable for cryptocurrency exchanges and crypto exchanges. It is allowed to operate with a license in any country in the world. Lithuania is still interested in issuing cryptocurrency licenses, and companies apply for them here in large quantities. Do not miss your chance and you!
What types of cryptocurrency licenses are available?
- For exchangers with crypto to fiat, fiat to crypto and crypto to crypto exchange operations.
- For registration and maintenance of crypto wallets of customers.
Both types of crypto license can be purchased by the same company. The activity of licensees is controlled by FCIS - Lithuanian Financial Crimes Investigation Service.
What taxes should crypto companies pay?
The basic corporate income tax rate is 15%, but it can be reduced to 5% or even 0% if the crypto company falls under the following characteristics:
- all shareholders are only individuals;
- the company's income for the reporting tax period amounted to less than 300 000 EUR;
- the number of employees of the company is not more than 10 people.
In addition, there is a 15% dividend tax, as well as 21% VAT. There are also reduced rates of 9% and 5% for value added tax.
Organizational aspects
Director and shareholder information will be available on the public register. There should be at least one director and one shareholder. Citizenship is not a fundamental point. Exception - residents of sanctioned countries.
It is essential to hire a compliance specialist with a good business reputation. It is important that he/she understands AML/KYC regulatory documents. Hiring a local specialist will make it easier to obtain authorization documents.
You can easily get all these turnkey services from Intelligent Solution Group. Our specialists will register the company, open a bank account, obtain a crypto license, help you go through all AML procedures, accompany, advise and answer your questions along the way.
In addition, we will take control over the extension of the company, organize sabstens for non-residents of Lithuania, i.e. ensure the physical and economic presence of the company in the jurisdiction, help to maintain reporting on activities so that legislative changes do not affect the stable operation of the business.
How much does a cryptolicense in Lithuania cost and what is included in the service?
The cost depends on the client's wishes for the final result, whether the client has an existing business, the type of this business, geography and other factors.
What is included in our service:
- study of the client's goals, intentions and activities;
- collection and execution of documents for company registration;
- company registration;
- opening of a bank account, completion of all compliance procedures;
- drafting and filing applications to the local FCIS/FIU service;
- registration and obtaining the status of a cryptocurrency company;
- working with local FCIS/FIU services in the process of application assessment;
- development of AML guidelines;
- consulting support of the client after obtaining the license, if necessary;
- keeping the company's accounting records, filing reports.
Once the above items are completed, it will be necessary to choose a unique name for the company, collect a package of documents, register an office at a local address and open a corporate account. It will be necessary to provide information about the director, founders and submit an application to the AML office, where the company will be entered into a special register.
On average, it takes about two months to obtain a crypto license in Lithuania.
Who should I entrust to organize the purchase of a crypto-license in Lithuania?
The task will be professionally performed by Intelligent Solution Group company. You will be assisted by specialists from the banking, financial and legal sphere with 20 years of experience in international business. Interested? Come to us for a free consultation.