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May 31, 2019 — The advantages of the specialized bank license in Lithuania are as follows:
· Lithuanian licensed Bank provides significant competitive advantage and opens up European financial market at significantly lower incorporation and operational costs.
· Lithuania and primarily its capital Vilnius became a new hub for European banking service centers.
· Favorable regulatory and tax environment, excellent infrastructure, fastest internet, cheap office space and quality pool of relatively cheap employees makes Vilnius attractive for large international banking institutions and for Fintech startups.
· Specialised Bank opens all single EU/EEA banking market, including large national French and German markets at significantly lower cost. A class office rent and employment costs are twice or even more cheaper in Vilnius comparing to traditional jurisdictions.
· Possibility to outsource relatively cheap and quality services from the local service providers gives strong competitive advantage and creates safe, efficient and cost effective banking institution ready to face intense competition in EU/EEA banking market.
Overall, from the signing of the agreement with our law firm to the moment when Specialized Bank License is issued should be roughly 8-10 months which is 2-3 times faster than other EU jurisdictions.
Capital requirements only 1 mln Euro.
Bank can be passported to legally provide services in all 30 European countries.
Bank can provide Mobile Banking; Lending; Payment services; Receipt of deposits; Currency exchange; Issuing of e-money; Issuing guarantees; Fund administration; .Financial leasing.
We have qualified team, expertise and experience of more than 25 years in Banking formations.