What is Lithuania EMI? Lithuania EMI Review, Features

The Lithuanian EMI is the main financial regulator in Lithuania, combining the functions of the Central Bank of Lithuania and the Financial Supervisory Authority (Supervisory Authority). am123

About EMI Lithuania

The Bank of Lithuania's mission is to bring benefits to society. To achieve this goal, we rely on highly qualified staff, financial and technical resources. As part of the Eurosystem, we work with the European Central Bank and other euro area central banks to make decisions on euro area monetary policy and its implementation. Our work is based on certain core values ​​and not only benefits society but also helps to increase public trust in the country's central bank and the domestic financial system.

Mission of EMI Lithuania

1. Promote and develop Lithuania as an international financial services centre;

2. Protect and strengthen Lithuania’s reputation as a financial centre in the EU;

3. Appropriate supervision and international financial services regulation;

4. Formulate policies and provide advice to the government and assist in the regulation of such services;

5. Collect, archive and publish reliable and timely information, and keep abreast of changes and new trends in the relevant aspects of these services;

6. Implement fiscal policy.

Service Content

1. Providing cash withdrawal services to customers;
2. Execute payment transfers: Provide transfer services to customers who have opened payment accounts, transfer customer funds to other customer accounts in the same payment system, or transfer customer funds to other financial institutions.
3. This includes single or multiple transfers from a cash account; payments by debit card or similar means; and also includes transfers of credit lines and recurring payments;
4. to perform payment transactions for lines of credit, to perform direct debits, including one-off direct debits, to perform payment transactions by payment card or similar means, and to perform credit payments, including recurring payments;
5. To execute a payment transaction, the payer agrees that the payment platform Zhuozhi Enterprise will make the payment through any telecommunications terminal equipment, digital or equipment and telecommunications network or IT system operator, or act as an intermediary and intermediary between a goods or service supplier and a customer using the payment service.
6. Payment system operation, as well as the provision of payment services, account information services, payment initiation services, payment account withdrawals, issuance of payment instruments, remittances and other monetary services.

Advantages

1. Lithuania does not specifically require that the company’s management must operate locally;
2. You do not need to register a company before applying for a license. You can register a company and operate it after obtaining the license.
3. Fast license processing, which takes about three months;
4. The company information documents and compliance documents submitted by Zhuozhi can be in English;
5. Remote client verification. The innovative "know your customer" process allows Zhuozhi to open an account for remote customer verification, without the need for the customer to be present to open an account;
6. Passports to other EU jurisdictions. Passports to other EU countries are free and take one month;
7. No sanctions in the first year. The Bank of Lithuania pledges to support start-ups by not imposing penalties on companies for minor violations during the first year of operation.
8. Visa application: For clients from non-EU regions, we can apply for visas for Lithuanian startup business owners.