Each jurisdiction establishes its own rules for regulating the crypto business. Some of them ban the industry entirely, while others have set rules. Among all countries in the EU, Lithuania has established clear and logical rules for regulating the industry.
To get a Lithuanian crypto license, you must complete several necessary steps. So, you must register an organization, open a bank account and pay a fee, and check the company’s readiness to obtain a work permit. The above points are of great importance, so we advise you to consider them in more detail.
To be sure that you will get a work permit, it is better to seek the help of professionals. They will help you get a turnkey license or do some of the errands you ask for.
First, you need to register an organization. You can do this remotely. You can submit documents electronically. It usually takes about five business days for your application to be processed.
If you want to be sure that all documents are drawn up correctly, we advise you to seek help from specialized specialists.
In some cases, it makes sense to buy an already registered organization, this can speed up the process of obtaining a permit, but such a service is more expensive.
Government authorities set strict requirements for companies that want to obtain a crypto exchange license in Lithuania. Particular attention should be paid to compliance with KYC and AML policies.
So, it would be best if you had robust tools to verify your customers and not provide services to people involved in fraud or money laundering.
You also need to make sure that you have a good protection of personal data and financial assets. Many exchanges are regularly hacked, and attackers want to gain access to users’ financial support or personal data to blackmail.
Please involve specialists to test your software and ensure you are ready to be tested.
The government of this country has established relatively simple rules for taxation. So, each company must pay 15% of the income. However, small companies have benefits – if your company has less than 10 employees and an annual turnover of up to 300 thousand euros, the tax rate can be reduced to 0-5%.
Cryptocurrency exchanges are not subject to VAT, but other transactions may be.
If you want to know more about this, you can contact our specialists. They will calculate how much tax you have to pay, considering your financial turnover.
Yes, you can obtain a work permit in this country, after which you can start activities legally.
Get a work permit if you register a company and pass the background check.
Yes, this country has strict rules for regulating the crypto industry. You must register a company and pay taxes regularly.
Yes, if you decide to operate without a permit, your company will automatically be recognized as a fraud, and you will get in trouble with the law.
If your organization meets the requirements of the regulatory body, then you can get a work permit within a month.
Yes, non-residents can hold a crypto license in this country, but recent legal changes require you to hire a resident director.