How to buy a company with a cryptocurrency license in Lithuania: instructions
Buying a ready-made company with a cryptocurrency license in Lithuania is an ideal option for firms that want to start operating immediately. A huge plus of Lithuanian license is that its user can work not only in the Baltics but also enter the European market. Read how to buy a ready-made company with a cryptocurrency license in Lithuania in this article.
Types of cryptocurrency licenses
Lithuania issues 2 licenses to work with cryptocurrency:
- For exchanging digital currencies with each other and for fiat money. In this case, the exchanger earns commissions;
- For creating and maintaining electronic wallets for storing tokens.
There is no unified cryptocurrency license in Lithuania, so before you buy a cryptocurrency firm, you should clearly understand the direction in which you plan to work. If you are interested in both, you should look for a company that has obtained both licenses.
Advantages of buying a cryptocurrency company
Buying a ready-made company is an opportunity to gain time that will be spent on collecting documents, registering the firm, and obtaining a license. The regulator considers the license application for about 2-3 months, and only then it is possible to start work if a positive result is accepted. At the same time, the new owner of the ready-made company can start work next day.
Disadvantages of buying a cryptocompany
The main disadvantage of buying a ready-made company is the need for a thorough paperwork check. It is important to know all the nuances about it, whether there are loans, fines, whether it is involved in scams. It is necessary to carefully check the accounting, history with the tax authorities, etc.
How to buy a cryptocompany in Lithuania
There are two types of companies you can buy in Lithuania:
- The organization has been created, the license has been obtained, but has not started work;
- The company works for a long time, has a history. Such a firm is more trusted (if there is no black history), both customers and bankers. The latter can issue a loan without any problems.
Having decided on the company, it is necessary to arrange for due diligence. It will make it possible to determine the strengths and weaknesses of the company, and accurately assess the company.
Then both parties must collect documents and go to a notary, sign a sales contract and register the transfer of property rights in the Commercial Register of Lithuania. If the buyer can not visit the country, it is possible to buy on the basis of a power of attorney.
What to do after the purchase
The new owner can make several changes to the completed company:
- provide names of new shareholders and owners;
- appoint new directors and managers;
- change the legal address.
All changes related to the purchase and sale transaction must be registered with the Registry of Legal Entities. If the owner is not in the country, this can be done by his representative on the basis of a power of attorney.
Lithuania has signed an anti-money laundering and anti-terrorism treaty, so new owners must have a clean background. For the same reason, it is necessary to verify all clients, keep a report on transactions, and provide data on the company's work at the first request of the FCIS monitoring body.
How to quickly buy a cryptocurrency company in Lithuania
If you want to buy a ready-made company in Lithuania 2022, contact IT OFFSHORE. We will find a suitable option, organize due diligence, as well as help with documents and registration of the deal.