LITHUANIAN CRYPTO ASSET PROVIDERS & WALLET CUSTODY OPERATOR 

CRYPTO REGULATED COMPANY

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THE COST

To authorize Lithuanian company for crypto exchange and wallet operations activity

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On the procedural side to acquire the "crypto license in Lithuania" we represent your company at the regulator, prepare application forms, do the UBO structure review, and prepare and or amend the AML rules in accordance with the Lithuanian legislation. This process with our advisory will cost from €3900.

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REGARDING THE BANKS

Comparison

 

Lithuania with its financial infrastructure can provide solutions with the same country IBAN due to more than a dozen of fintechs operating with crypto-related projects. Furthermore, in Lithuania during the registration process, we will advise and assist in opening a bank account, first, a temporary account for share (equity) capital and then convert it into a regular current account for administrative/operational use. The account can be used for various non-crypto purposes including a collection of equity investments, profits from other company-owned bank accounts, etc.

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We can advise and help on applications with acquiring providers, SEPA, SEPA instant, EUR SWIFT, GBP’s, USD (ACH) domestic, white-label, and wire transactions each separately to their respective payment solution providers and classic banks. It takes about 2 weeks, minimum, to open one such bank account, and from our experience at least 1-2 weeks of time to collect appropriate KYC before handing in an application form.

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One operational/business account costs from €800.

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What if I have staking, digital asset trade, NFT, and or ICO platform?

 

Lithuanian crypto license does not regulate the abovementioned under one company and or platform. We would require a second company that has Authorization of Financial Brokerage firm or Authorization of Electronic Money Institutions. Inquire us for more in-depth details or upon your request we can supply a respective legal opinion regarding each of the activities with the help of our business partners.

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LIST OF OTHER LICENSES

That we can mediate swiftly along with internal and external license requirements

 

CROWDFUNDING LICENSE​

The crowdfunding regulations also allow it to operate within the Crypto industry, which makes it a very attractive structure to many already established crypto exchanges. Furthermore, European Union has the Central regulation for Crowdfunds, thus passporting from Lithuania to other EU member states is a great advantage. The Legal fee to advise through the application process is starting from €25 500. More about the capital requirements, etc. Read here. The timeline to establish is approx. 3-4 months. While 6-7 months for crypto-related projects, taking from the experience.

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CONSUMER CREDIT INTERMEDIARY

Legal fee from €8350. More about the license requirements Read here. The timeline to establish is approx. 7-14 business days.

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CURRENCY EXCHANGE OPERATOR

Legal fee from €12500. More about the license requirements Read here. The timeline to establish is approx. 12 weeks.

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LITHUANIAN EMI LICENSE

Legal fee from €35 400. More about the license requirements Read here. The timeline to establish is approx. 6-9 months.

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SPECIALIZED BANK

Legal fee from €80 000. More about the license requirements Read here. The timeline to establish is approx. 14 months.

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Note

KYC requirements must be passed by each of our customers without exception. For this purpose, we will ask you to share with ALT Accounting MB - a copy of the passport and proof of address from both the Ultimate Beneficial owner(s) and Director(s), and to pass ID liveliness verification.