Obtaining a PI Licence in Lithuania

A PI (Payment Institution) licence is a permit to provide payment services in accordance with EU requirements.

For efficient PI operations, we recommend obtaining a standard PI licence.

Why Lithuania

Why choose Lithuania to obtain a PI licence?

Access to the whole market

A PI licence allows providing payment services across the EU through passporting

Fast launch

More efficient licensing process compared to a number of other EU countries

Experienced regulator

The Bank of Lithuania has significant experience licensing PIs and EMIs

Lower operating costs

Optimal costs for compliance, office and team

SEPA infrastructure

Access to the European payment system and integration with payment providers

Fits fintech and crypto

Lithuania is popular among payment, fintech and Web3 projects; a PI is required to work with EMTs

What is a PI licence in Lithuania?

A PI licence is a permit to provide payment services.

Licence types

What types of PI licences are there?

Operates across the EU through passporting. Minimum capital — EUR 125,000.

Operates only in Lithuania. No minimum capital, limited range of services.

Account Information Services without handling client funds. No capital required.

Capital

Minimum capital depending on payment services

Money remittance

EUR 20,000

Payment initiation services

EUR 50,000

Full range of payment services and payment processing

EUR 125,000

Requirements

Key requirements for obtaining a PI licence

Management team

Qualified management and directors

Local presence

At least one director resident in Lithuania

AML & Compliance

Mandatory AML/Compliance officers — Lithuanian residents

Corporate governance

A governance structure complying with Lithuanian legal requirements

Management experience

Management must have experience in fintech, payments or banking

Process

Step-by-step PI licensing procedure

The Bank of Lithuania aims to issue a decision within 3 months (2 months for a limited PI licence). If additional information is required, the timeline may be extended.

Preliminary consultation

A recommended meeting with the Bank of Lithuania to discuss the business model and payment services

UBO check

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

Application filing

Preparing and filing the full document package for the PI licence

Regulatory review

The Bank of Lithuania reviews the documents, business structure, AML and management team

Additional requests

The regulator may request clarifications or additional documents if needed

Licensing decision

The Board of the Bank of Lithuania decides on issuing the PI licence

Launching operations

After approval the company may start providing payment services

Documents

Key documents for obtaining a PI licence

To obtain a PI licence in Lithuania you need to prepare a document package for the Bank of Lithuania, including:

Corporate documents

Corporate documents of the company

Business plan

Business plan and 3-year financial projections

Payment services

Description of payment services and the programme of operations

Share capital

Confirmation of the required share capital

AML/CFT

AML/CFT policies and compliance procedures

Risk management

Internal control systems and risk management

ICT risk

ICT risk assessment and security policies

UBO and management

Information on management, shareholders and UBO

Registered office

Confirmation of the registered office in Lithuania

Identity documents

Identity documents of managers and shareholders

Contact us

Ready to start obtaining a PI licence?

Our team will simplify the procedure for you. If we see you have no chance of obtaining a PI licence in Lithuania, we will tell you right away and offer alternative solutions. Let us handle the details so you can focus on your business in Lithuania!

Contact Us

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info@legalmechanic.com

Obtaining a PI Licence in Lithuania