EMI in Lithuania, licensed since 2020, with a clean record

About This Company

Republic of Lithuania Law on Electronic Money and Electronic Money Institutions No XI-1868, Art. 13 establishes the statutory basis for an electronic money institution licence for non-limited activity. The company was incorporated in 2020 and operates with trading history, generating about EUR 266.5K in 2024 revenue alongside a net result of about EUR -13.6K. It maintains about three staff, a small retail and SME customer base, and safeguarded customer funds of about EUR 6.3M. SEPA and international payments run through correspondent banking. Bank of Lithuania requires full institutions to preserve a three-tier governance framework comprising a general meeting of shareholders, a collegial board, and a single-person chief executive officer. Key function holders, including the Compliance Officer, the AML/CFT Officer or MLRO, board members, and executive managers, face prior regulatory non-objection reviews lasting 30 working days. The buyer must verify that these local managers remain in place or submit qualified replacements to Lietuvos bankas. The institution must actually conduct electronic money issuance inside Lithuania from its registered office. Own funds must continuously match or surpass initial capital of EUR 350,000 or the regulatory capital calculated under Method D plus applicable payment services requirements under Method A, B, or C. In practice, firms see an annual supervisory fee of 0.65% of annual income.