Types of crypto licenses available in the Republic of Lithuania How to obtain a license for crypto f

It is a great way to get started in fintech by opening a cryptocurrency business in a Baltic country such as Lithuania. If the applicant meets all requirements and has the correct company structure, he/she can easily obtain a crypto-business permit. The Republic of Lithuania provides a favorable working environment for crypto companies and has a low tax rate. We will be discussing how to obtain a crypto license in Lithuania, and what you should do.

Types and requirements for crypto license in Lithuania

The best thing about getting a crypto license here in Lithuania is that you don't have to be a resident of the country. You can also get two licenses at once. Let's look at which one:

• Crypto exchange license -- This license allows you to exchange fiat to digital funds and vice versa. Your profit will also be commission.
• Crypto wallet exchange -- This license allows you to offer customers virtual currency wallets encrypted with special encryptions.

A special authority that is involved in investigating financial crimes will issue the license. This is FCIS. A crypto license in Lithuania also requires that you meet certain requirements:

• Register a UAB (limited-liability company);
• Get approval from the Investor Appraisal Commission by passing the Investor Appraisal Commission
• You must keep track of all transactions and client data according to AML/KYC rules.
• Register for a web resource account and a bank account
• At least one shareholder and director must be part of your crypto company. A minimum of three managers must be employed and one AML employee.
• The authorized capital amount is 2500 EUR

Let's not go on to the part about opening a corporate bank account. You will need to prepare all necessary documents in English and apostilled.

Remember that all subsequent work must pass reporting and that the company is registered using a special process. We are happy to provide our services in order to assist you with the registration process and obtaining a license for crypto-business. We will assist you in keeping accurate accounting records and avoiding license revocation. For a successful start to your crypto business, contact us!