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Lithuania

Lithuania

Lithuania is one of the most cryptocurrency-friendly and attractive jurisdictions in the European Union. Local financial market participants can legally use it in transactions. The country is actively developing laws aimed at protecting cryptocurrency investors and combating fraud. 

Lithuania is one of the few EU countries that licenses cryptocurrency. A Lithuanian cryptocurrency license is trusted, opening the way to markets in Europe. A foreign investor who receives it will also be able to work officially in the jurisdiction's financial market.

 

The Lithuanian license covers 2 types of activities:

  • Cryptocurrency exchange - services for exchanging fiat for cryptocurrency, cryptocurrency for fiat, and cryptocurrency for cryptocurrency.
  • Opening of virtual wallets for storing customers' virtual currencies.

Authorized capital requirements:

To obtain a cryptocurrency license in Lithuania, the amount of authorized capital is 2 500 EUR.

Requirements for legal entities engaged in activities related to cryptocurrency in Lithuania:

  • Members of the board or owners of the company must have an impeccable reputation.
  • Maintaining and submitting reports.
  • Having an AML officer responsible for anti-money laundering compliance.

 

To avoid losing their license, cryptocurrencies must operate impeccably. Their operations are monitored by a department that investigates financial crimes (FIU). 

Taxation:

  • The rate of tax on dividends is 15%.
  • The standard rate of VAT is 21%. Reduced rate of 9% and 5%.
  • The corporate income tax rate is 15%. 

 

The rate can be reduced to 0% and 5% if the following requirements are met:

  • the average number of employees does not exceed 10;
  • income for the tax period does not exceed 300 000 EUR;
  • shareholders of the company are only individuals;
  • the company must be in operation, the company must not be liquidated/reorganized and the company's shares must not be transferred to new shareholders for at least 3 tax periods.

 

Stages of acquiring a license in Lithuania:

  • company registration;
  • opening of the account for the deposit of the authorized capital;
  • payment of the registered capital; 
  • submission of documents to obtain a license;
  • getting a license;
  • opening an account for a company.

 

It is not easy to register a company and obtain a license in Lithuania on your own, without the help of professionals. The country is an active participant in a program aimed at fighting fraud and money laundering. That is why the laws are constantly toughening.

 

IT OFFSHORE specoalists know all about the latest trends in the country's crypto market. They will advise and accompany you at every stage of obtaining a license in Lithuania. 

Ready-made companies with bank accounts

Or you've already got own business and there is a need to expand the scope of activities. To avoid the loss of time and effort to register juridical individuals, you can arrange a ready-made company. You will have a fully prepared company with a package of documents, which is mandatory for conducting a full-fledged activity.

Companies with licenses

Buying a ready-made company is the best option for operational business development in a new industry, as well as the need to expand the scope of the existing organization increase its scale. Acquisition of a company with mandatory permits and license means the ability to enter a new market in a short period of time.

Banks

Acquisition of a ready-made bank allows you to save time, as well as quickly carry out all reissuing operations. On average, the procedure takes about one day. As a result, the client becomes the head of the bank, which already has a client base, as well as status in the market and ready staff. Our company conducts all operations in accordance with existing legislation.

Funds

Investment fund is a modern investment tool designed for all types of assets. The purpose — managing of assets as well as solving number of tasks in a way that works best for individuals. There is no open subscription, meaning that a private investment fund has a closed structure. This is the most optimal solution for distributing capital through broad instruments.

SEMI for sale

When conducting business related to foreign exchange transactions, electronic money and cryptocurrencies, it may be necessary to open a financial company with a SEMI license. This type of license covers the production of debit cards and cryptocurrencies, the acceptance and sending of payments, the execution of transfers from third parties, and the opening of merchant accounts.

Crypto Offshore

When working with cryptocurrency it is important to choose the right country, where it is most profitable to open a company. Each country has a different attitude towards this type of currency. A country that has a loyal or positive attitude towards cryptocurrency can be called a crypto-offshore.



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