Having Lithuania crypto license companies can expand their crypto operations to Europe and worldwide. The regulation in Lithuania is clear, and the country is a fintech center that allows the implementation of various financial solutions. Our expertise in licensing crypto companies ensures that the process is executed promptly and according to the regulatory requirements.
Lithuania has national legislation in place to govern how cryptocurrency companies operate. Under the authority of the Ministry of Finance, crypto businesses must form an LLC to provide exchange or wallet services, join an official registry of crypto companies, and have an exclusive AML officer. A company that offers exchange and wallet services can legally apply for and hold both authorizations simultaneously.
- Expansion to the European and worldwide markets
- Business registration in the fintech center
- Prompt process – from 5 to 6 weeks
- Clear requirements
- Low maintenance costs
- Low corporate income tax rate of 15%
- Tax rate of 0% is applied to taxable profits of newly established entities for the first taxable period.
- Rate of 5% if income does not exceed 300,000 EUR
- Remote process
- No requirement for a physical office.
- Form of company:
- Company name
You need to choose the name of the business first. Then enter the name into the Lithuanian Register of Legal Entities. The documentation phase will start once the name has been registered and provisionally listed in the register.
- Share capital: Minimum: 125,000 EUR
- Memorandum of Association
The Memorandum of Association describes the Lithuanian company’s purposes and powers. It details the company’s name, registration office, registered agent, and commercial activities.
A Lithuanian business must have at least three directors. All nationalities are accepted.
- Type of business: Limited liability Company
- Get a License
- Types of crypto license
There are two types of authorization for crypto business in Lithuania:
- Cryptocurrency exchange operator authorization – enables legal entities to provide services for exchanging fiat to crypto, crypto – to – fiat, and crypto to crypto.
- Cryptocurrency depository wallet operator authorization – enables legal entities to manage client’s cryptocurrency depository wallets.
- Exchange of cryptocurrency against a fiat currency (crypto Vs. fiat exchange)
- Exchange of fiat currency against a cryptocurrency (fiat Vs. crypto exchange)
- Exchange of cryptocurrency against a cryptocurrency (crypto Vs. Crypto exchange)
- Provision of a crypto wallet service (custodian crypto wallet service)
- Client cryptocurrency storage services (crypto storage service)
- Make cryptocurrency transfers (crypto transfer service)
- Full-featured cryptocurrency exchange.
4. Step to get crypto exchange and wallet license
Step 1: Initial stage:
- Reservation of company name
- Preparation of the buyer’s documents for company registration
Step 2: Company registration
- Preparation and registration of incorporation documents
- Registration of company name
- Opening a current bank account
- Registration of share capital
- Company registration in the Company Register
Step 3: Company authorization for crypto business
- Preparation of documents for crypto authorization
- Obtaining cryptocurrency exchange operator authorization
- Obtaining cryptocurrency depository wallet operator authorization
- Preparation of corporate documents.
This website is intended solely for informational purposes and does not constitute legal advice. You should not rely on the information presented here and should consult a lawyer for professional advice tailored to your specific situation. No solicitor-client relationship with TIMELAW is established until a formal written agreement is in place.