Payment institution licence (Lithuania)
The Payment institution licence is issued by Bank of Lithuania (LB) under Republic of Lithuania Law on Payment Institutions No XI-549. It can be passported to the other EU/EEA states by notification. The official register lists 27 current holders. The legal decision period is 3 months from receipt of a complete application. The application fee is EUR 898. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Payment institution licence1 |
|---|---|
| Issued by | Bank of Lithuania |
| Jurisdiction | Lithuania |
| Licence family | Payment institution (PI) |
| Legal basis | Republic of Lithuania Law on Payment Institutions No XI-5492 Directive (EU) 2015/2366 on payment services in the internal market (PSD2)3 |
| Passporting | EU/EEA passport available |
| Application fee | EUR 8984 |
| Annual fee | max 0.65% of income (proposed 1% from 2027, min EUR 5,000 full / EUR 3,000 limited)5 |
| Statutory decision time | 3 months from receipt of a complete application2 |
| Public register | official register1 |
| Current holders | 271 |
What it lets you do
- Execution of payment transactions
- Money remittance
- Issuing payment instruments and acquiring payment transactions
- Payment initiation services
- Account information services
- Execution of payment transactions. Executing direct debits, card payments and credit transfers, including standing orders, from a payment account.
- Money remittance. Receiving funds from a payer solely to transfer them to a payee or another provider, without opening payment accounts.
- Issuing payment instruments and acquiring payment transactions. Issuing cards or other payment instruments to payers, and acquiring card and other payment transactions for merchants.
- Payment initiation services. Initiating a payment order at the user's request from an account held with another provider, as in open banking.
- Account information services. Providing consolidated online information on one or more payment accounts the user holds with other providers.
Where it is valid
Cost
How long it takes
Statutory: 3 months from receipt of a complete application2. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Prior notification with an objection period. Acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or becoming controlled, requires prior written notification to the Bank of Lithuania. The supervisory authority assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory 60 working days period (interruptible once by up to 20 working days for additional information) under Law on Banks Arts 24-25, applied mutatis mutandis to EMIs (EMI Law Art. 17) and PIs (PI Law Art. 10).6
Ready-made companies holding this licence: see verified positions.
Laws behind it
- Directive (EU) 2015/2366 on payment services in the internal market: Directive (EU) 2015/2366
Sources
- lb.lt: sfi financial market participants · retrieved 2026-09-24
- e-seimas.lrs.lt: 0b531920890111eb998483d0ae31615c · retrieved 2026-09-24
- eur-lex.europa.eu: HTML (32015L2366) · retrieved 2026-09-24
- web.archive.org: authorisation of payment institutions · retrieved 2026-09-24
- 15min.lt: vyriausybe mokejimo ir e pinigu istaigos lietuvos bankui uz · secondary · retrieved 2026-09-24
- e-seimas.lrs.lt: 9ba20892227e11e6acbed8d454428fb7 · retrieved 2026-09-24
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