Obtaining a crypto license in the Republic of Lithuania is beneficial for the development of fintech business and opens the door to crypto entrepreneurship. The state does not impose strict requirements on applicants to register and obtain a crypto license. And to get a crypto business license in Lithuania, you don't need to have residency. For more information, visit https://cryptolicenseinlithuania.com/. How to get a license in a pre-registered firm in the Republic of Lithuania will be discussed below.
How to get a crypto license: requirements and types of permission
Initially, you should orient yourself in the types of license, there are two. Crypto Exchange and Operator of deposit virtual currency funds. In other words, the first will allow you to engage in the exchange of fiat to cryptocurrency and vice versa, along with the exchange of one virtual currency to another, and the second - to store and create cryptocurrency wallets. Everything is simple. In addition, you have the opportunity to get two licenses at once. Now to the basic requirements.
- Register an offline or digital address for the company.
- Hire from one shareholder and director, as well as an AML employee.
- Provide information about your customers and shareholders to special authorities. Cryptolicensing lithuania also requires you to provide details of the beneficial owners of the crypto firm.
- AML and KYC compliance.
You must also have capital of 2,500 euros and be approved by investor and client evaluation authorities. Note also that you must obtain and approval from the tax police, introduce a management scheme in the operation of the crypto firm, which will prevent illegal financial fraud.
Application Documents
The following list of documents is not complete, as each individual Lithuanian authority may request additional information. Nevertheless, here is a basic list of the package of documents:
- a record of no criminal record of each manager, director and key in the work of the crypto firm employee;
- an actual copy of the passport of the individual's country of residence;
- a description of the company's future work;
- PoA document, if you get a crypto license remotely;
- education, executive resumes.
In order to bypass all the paperwork and get a crypto license in a short period of time, we offer you to apply to us for this service. Our company will gather all the necessary documents, take care of a comfortable process, and save you the hassle of many Lithuanian terms and requirements. !
