Cryptolicenses in Lithuania - TOP 1 in Europe
Cryptolicence in Lithuania is one of the most prestigious licences in the EU.
Price until 01.11.2024: from €6 200
The Lithuanian cryptolicence covers the following types of operations:
- exchange of fiat currency for virtual currency and vice versa;
- exchange of virtual currency for other virtual currency;
- registration and maintenance of cryptocurrency wallets of clients;
- storage of private wallet keys (Custodian wallet service);
- virtual currency transfer services.
A company registered as a virtual asset service provider must have a share capital of €125,000.
Advantages:
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What are the requirements for a company to obtain a cryptocurrency licence?
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1
prescribe internal policies (AML/KYC) as well as internal control policies;
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2
appoint an employee responsible for fulfilment of AML/CTF obligations, necessarily a resident of Lithuania;
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3
identify customers and monitor established business relationships;
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4
comply with international sanctions regimes;
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5
store customer data;
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6
report suspicious transactions and operations;
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7
have a good business reputation with shareholders and owners;
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8
apply a risk-based approach to licensed activities and take into account the risks identified in the national risk assessment.
Choose a time convenient for you in the calendar and our expert will advise you on all cryptolicensing issues in Lithuania
Information on legal entities engaged in virtual currency exchanges in Lithuania is regularly updated and made available for public access on the official website of the regulator.
The Lithuanian Registry Centre maintains a list of licensed cryptocurrency companies, but the Financial Crimes Investigation Service (FCIS) under the Lithuanian Ministry of the Interior exercises control over transactions with virtual assets.
A licensed cryptocurrency company in Lithuania is required to consider the local market and conduct certain key transactions through that country.
At all stages, our experts will be close by and on call for any questions.
Stages of obtaining a cryptolicence in Lithuania
We have gone through this procedure many times, so we take the burden off the client as much as possible and accompany them on all matters.
Additional services:
payable separately
- bank account opening;
- confirmation of the source of funds;
- connection and integration to the banking software platform;
- accounting support and reporting.
Cases:
CASE: How to get back the frozen $600k.
A client faced the problem of frozen funds in the account of his international company. The bank where the account was located was in the process of liquidation and froze all the money, starting an audit of its clients.
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CASE: The forgotten $400,000.
Our client decided to completely liquidate his company established about 10 years ago in Latvia. In the process of liquidating the company and communicating with the bank, we learnt that the client had $400,000 in his account for several years, which no one remembered about
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Intelligent Solution Group – it is
Registration services and company support:
- company registration;
- business relocation;
- company renewal.
International tax planning.
Banking services:
- Compliance, KYC, SOF in the bank;
- bank account opening;
- opening of accounts in non-banks (payment systems);
- confirmation of the source of funds;
- withdrawal from frozen accounts.
Licensing:
Accounting services and audit for international companies.
Succession and inheritance issues for wealthy families.
