Bank License 2021. European Banking License
We aid all projects that seek to undergo a licensing process to become an authorized E-money or Payment Institution (EMI or PI). If you’re looking for a company that provides high-level legal services for banking license, look no further: Legal Bison is ready to offer you its legal, technological, and business expertise and full consulting assistance.
Step by Step Guide: Legal Services For Banking License
First Step – Evaluation
First, we need to hear your thoughts and ideas in order to gain a better understanding of your business, its core values, target audience, and overall objectives.
Second Step – Planning
We give our opinion on which options suit your project the best before settling on the best course of action to achieve the objectives. We also provide information concerning applicable laws and regulatory requirements, processing fees, and timeframe for the completion.
Third Step – Preparation
We conduct a thorough investigation of your business and its processes. We guide you through the process of writing and submitting an application for a private banking license Europe. An EMI license in Lithuania, to be more precise.
Fourth Step – Approval
We help you work with the feedback from the Central Bank of Lithuania, which has a tendency to be cautious and ask further questions. We prepare the official response and carry out the comms work on your behalf. Your application is eventually accepted, and your license is issued.
How to get a banking license - The approach
The scope of services reaches far beyond simple authorization and compliance. We do our due diligence in each and every area. For example, we spend a weighty amount of time analyzing our customers, their specific corporate structures, culture, aims, and priorities. Not everyone should try to apply for an investment banking license in Europe. That being said, most of our clientele consists of fintech projects that have everything to gain from acquiring the license.
As a part of our services, we will discuss your goals and the financial services you choose to offer. We will provide a complete assessment of your enterprise model, staff, its proficiency and suitability along with the way you’re able to manage strategic/operational risks to meet regulatory and compliance obligations. After the evaluation, we will prepare a report which will specify whether it's going to be easy for you to obtain an investment banking license in Europe or any other certification. Our opinion will be honest and realistic.
Why Choose Lithuania for an EMI License?
There are many reasons why the world’s top fintech companies such as Revolut and Paysera chose Lithuania, including:
- Newcomer Support
- Innovative & Flexible System of Regulatory Requirements. For instance, there are no sanctions applied to companies for the first year
- Smooth Authorization Process. Obtaining an EMI-type private banking license in Europe takes around 12 months
- Pro-Innovation Approach
- Fintech-Friendly Ecosystem