E- Money Institution Licensing – Why Lithuania ?

No particular requirement for company directors and board members to reside in Lithuania/Europe.
Application for a license submitted without establishing a company and freezing up capital.
Fast licensing process.
Regulatory “Sandbox”.
Start-up visa. Special visas for citizens of non-EU/EEA countries running innovative businesses in Lithuania
Possibility to provide individual client IBAN accounts. Lookup for the IBAN account according to the alternate identifier: mobile phone number (MSISDN) and Email (URI)
Remote client verification. Innovative “know your customer” processes for remote client verification allows open the accounts without the physical presence of the client.
License allows provision of the financial services in all EU/EEA area without any additional licensing.
Licensing documentation can be submitted in English.
Direct access to the Single Euros Payment Area (SEPA) through the CENTROlink payment system managed by the Bank of Lithuania (Central Bank).
Possibility to safeguard client funds in the accounts of the Bank of Lithuania (Central Bank of EU member state).
PSD2 implementation allowing Payment Initiation Service (PIS) and Account Information Service (AIS).