Obtaining a Brokerage (MiFID / Investment) Licence in Lithuania

A brokerage (investment) licence is a permit to provide investment services, issued by the Bank of Lithuania to financial brokerage firms: custody of client funds and financial instruments, investment advice, order execution and other services.

Obtain a licence ensuring full compliance with EU rules and operate in the single European market for investment services with passporting rights.

Capital

Minimum capital depending on the type of investment services

Reception & transmission of orders, investment advice, portfolio management

EUR 75,000 (without holding client funds)

Standard brokerage activities

EUR 150,000

Dealing on own account, underwriting and trading activities

EUR 750,000

Management

Management requirements

Management and directors must have:

Reputation

An impeccable reputation

Experience

Experience in finance / investment services

Qualification

Sufficient qualification and compliance expertise

Documents

Key documents

Share capital

Confirmation of share capital

Shareholders and UBO

Information on shareholders and UBO

Policies

AML, risk management and compliance policies

Business model

Business plan and operational model

IT architecture

IT architecture and security framework

TRS reporting

TRS reporting readiness

Governance

Description of the governance structure and internal procedures

Process

Brokerage licensing procedure

The process takes about 6 months and involves close interaction with the Bank of Lithuania.

Preparing materials

Gathering and jointly developing documents per regulator requirements

Preliminary meeting

Discussion with Bank of Lithuania representatives before filing, with the applicant's participation

UBO check

Checking the UBO and its source of income confirming share capital, request to the Security Commission

Application filing

Completing forms and submitting the full document package to the Bank of Lithuania

Application review

Review by the regulator, possible requests for additions or clarifications

Decision

Licence issued upon meeting all criteria

Support

Our support services

Comprehensive support focused on working closely with the client:

Documents

Reviewing and correcting documents on compliance measures and procedures

Preliminary meeting

Participating in the preliminary meeting with the regulator (with the client present)

Forms and applications

Preparing and completing forms and applications for the licence

UBO check

UBO verification

Regulator communication

During document review, including answering questions

Consultants

Sourcing consultants for non-legal and financial documents

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Obtaining a Brokerage (MiFID / Investment) Licence in Lithuania