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Crypto license in Lithuania

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    Send a price request through our website for obtaining a cryptocurrency licence.

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    We will send out a price quotation and conduct a detailed consultation.

  • legal and accounting support

    After successfully completing the crypto-licensing process, we are ready to continue to provide you with legal and accounting support.

Steps for obtaining a crypto licence in Lithuania

The support of professionals with extensive knowledge and experience in the field is essential in fulfilling all the requirements and completing this process successfully.

  • Set up a company in Lithuania in a way that is convenient for you.

    You can register a company either online using an e-resident card, by power of attorney or in person at a notary’s office. The whole process of company registration in Lithuania takes just one day and requires minimal costs. Our company provides all enterprise formation services in Lithuania, and we will be glad to assist you.

  • Open a corporate account in Lithuania.

    Our specialists can also help you open a corporate account in any European payment system. Maintenance of your company account will require minimum annual spending.

  • Pay the authorized capital.

    Please note that you can postpone this payment by opening a company without an authorized capital. In addition, the company must have a legal address in Lithuania. In this case, you can seek help from our specialists, who will help you find and rent an office in Lithuania.

  • Employ an Lithuania AML officer

    The next step is to hire an Lithuania AML officer with experience in anti-money laundering and terrorism financing compliance. The employment of an AML officer is a requirement when applying for a cryptocurrency licence because of the government’s fight against financial crime all over the world. The main task of AML officers is to check organizations for exposure to criminal risk and financial crime. In this case, our specialist team also provides recruitment, training, skill improvement, quality assurance and many other services that you can find on our website or get more detailed information by contacting us.

  • Apply for a crypto license in Lithuania

    We can help you collect all the necessary information and apply for a cryptocurrency licence for your business in Lithuania. With our help, you will get a permit to work with cryptocurrencies in just two months.

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With the rise of cryptocurrencies and blockchain technology, Lithuania has become an increasingly attractive destination for businesses in this space. This is mainly due to its forward-thinking approach to establishing regulatory frameworks and creating favorable conditions for businesses. Many crypto startups have already established their headquarters in Lithuania, as well as in other Baltic countries like Lithuania, Latvia and Finland

The Rise of Cryptocurrency in Lithuania

Lithuania has been at the forefront of fintech since the 1990s, when it was part of the Soviet Union. It became the first country in the world to introduce electronic payments for government services in 1996. This solidified Lithuania's reputation as an advanced e-commerce center. The financial crisis of 2007–2008 brought changes in the financial sector. It also triggered a shift towards more innovative and new technologies, such as cryptocurrencies. Lithuanian businesses began to venture into fintech with a cryptocurrency focus. This shift towards fintech is clearly reflected in the report published by the Financial Technologies Review in the beginning of 2019, which shows that Lithuania is one of the most attractive fintech destinations in Europe.

Benefits for crypto businesses in Lithuania

The benefits of setting up a crypto business in Lithuania are plenty. First of all, the country has very affordable yet high-quality IT development services. This means it is easier to find experienced developers and designers with a lower budget, compared to other European countries. Additionally, Lithuanian companies have proven their reliability by meeting all the deadlines set. Lithuania has a highly educated population. Moreover, there are several universities in the country that provide education in IT and other relevant fields. This makes it easier for companies to find employees with the right skills. Moreover, Lithuania is globally connected, with a stable political and economic situation, and a strong national currency. This means that setting up a business in Lithuania is a safe decision. In addition, Lithuanian crypto businesses have easy access to global markets. This is mostly due to the fact that the country is well-connected to other European destinations and is a member of the EU.

Crypto Exchanges

As one of the fastest-growing industries, crypto exchanges have become a major source of revenue for Lithuanian businesses. There are currently over 20 crypto exchanges operating in Lithuania, including BitFury, BitPanther, and Hashcoins. The two biggest crypto exchanges based in Vilnius, Lithuania are OKEx and BitFlyer. OKEx has been operating in the global crypto market since 2014, and it is currently the world’s 5th-largest crypto exchange with daily trading volume of $1,500,000,000. BitFlyer is the world’s 7th-largest crypto exchange, with daily trading volume of $1,200,000,000.

Blockchain Development Companies

Blockchain development is another industry that has seen rapid growth in Lithuania. A wide range of companies have started offering blockchain development services in Lithuania, as well as in other countries like Estonia, and Ukraine. The country also hosts many large blockchain companies such as E-net, Amber, and Blocventures. E-net is one of the world’s leading blockchain and cryptocurrency companies. They have recently established their headquarters in Lithuania, where they employ around 100 people. Amber is another major blockchain development company, which was established in Lithuania in 2017. Moreover, the country has become a major hub for the ICO industry, with many ICOs being hosted in Lithuania. In fact, Lithuania has one of the most attractive ICO laws in Europe. Lithuanian ICOs have raised over $100 million in funding this year, with the total expected to reach $250 million by the end of the year.

Lithuania is one of the fastest-growing fintech and blockchain destinations in Europe. This Baltic country has seen a rapid growth in the crypto industry over the past few years. The strong political and economic situation, as well as the availability of high-quality IT and blockchain development services, makes Lithuania an attractive place for businesses in this industry. Overall, there are many reasons why crypto businesses should consider Lithuania as their next home.