Revocation of the license should necessarily be confirmed by an officially documented ground. Conducting legal activities without violating the rules and laws is a prerequisite of long-term operation under the license.
Banking license in Lithuania
Banking license in Lithuania
Banking license is a document that is compulsory to be obtained in order to render economic services within particular country.
The foregoing document regulates the actions of the organization, determines the range of permitted transactions and currencies. Banking license is also necessary for financial business in Lithuania.
Obtaining banking license in Lithuania
Obtaining banking license in Lithuania
Active investors in Lithuania are not only natural persons, but also private and municipal enterprises and authorities.
Large amount of contributions makes the financial business in Lithuania profitable for both local and foreign branch banks, and the number of the foregoing increases in the country every year.
Requirements for banking license in Lithuania
Every entrepreneur can obtain license for banking activities in Lithuania, subject to compliance with the requirements and conditions in force in the country.
The Government of Lithuania offers a simplified procedure for obtaining license for persons who already have similar license in other countries that are not members of the EU. The features of banking license in Lithuania include the following:
Requirements:
Requirements:
- Perpetuity. Subject to compliance with all conditions of processing, the license is issued for an unlimited period of validity.
- For many burgeoning entrepreneurs who are interested in obtaining license for banking activities in Lithuania, the decisive factor is the fact that obtaining license is reduced to a minimum of paperwork.
- Therefore, there will be a minimum of red tape for the businessman, which makes obtaining banking license in Lithuania much more accessible from a legal point of view.
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Opportunities. Since Lithuania is the member of the EU, the person obtaining banking license in the territory of this country will be able to conduct the financial business in the other countries of the Union.
Lack of unified system. There is no single system in the territory of Lithuania that would issue and regulate the operating licenses and agreements. Therefore, before filing documents, a novice businessman will need consultation of the specialist who is experienced in the economic market of Lithuania and specifics of its functioning. Regulation. In order to monitor the economic system in the territory of the country, the activities of all organizations are subject to control and verification. In cases of violation of the law during conducting financial transactions or other violations, the license may be revoked.
For many burgeoning entrepreneurs who are interested in obtaining license for banking activities in Lithuania, the decisive factor is the fact that obtaining license is reduced to a minimum of paperwork.
Therefore, there will be a minimum of red tape for the businessman, which makes obtaining banking license in Lithuania much more accessible from a legal point of view.
Professional employees of Law&Trust will consult on the issues of obtaining banking license in Lithuania, as well as assist in collecting documents and direct interacting with representatives of Lithuanian legal authorities.
By cooperating with the specialists of Law&Trust, the client will be able to choose the best option for obtaining license for banking activity in Lithuania and start conducting financial business in the territory of Lithuania within relatively short period of time.
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Victoria Zhelezova
Branch Director, HR
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Dariia Grib
Legal secretaries & Receptionists
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