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Crypto License in Lithuania: A Comprehensive Walkthrough

The process of acquiring a cryptocurrency license in Lithuania. From legal requirements to application submission, we guide you through each step, helping you navigate this intricate procedure with ease and success.

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Crypto License Lithuania 

Image showing Vilnius, Lithuania and a crypto license in Lithuania

In Lithuania, getting a crypto license is as easy as starting a UAB—a limited liability company. It's the perfect launchpad to springboard your crypto exchange or storage service. All it takes is €125,000 in capital, with a mere 25% (€31,250) up-front, and the res75% (€93,750) to be settled within the year.

And there's a role for everyone. Regardless of where you're from, you can be a director. Although, we do insist you have an Anti-Money Laundering (AML) officer on the ground in Lithuania. It's all about ensuring the integrity of our crypto ecosystem.
 

What sets Lithuania apart? It's the country's forward-thinking, cost-effective approach to licensing crypto businesses. Even before the MiCa Directive has been formally adopted, Lithuania's already integrated some of its key components. That's the kind of place Lithuania is—always ahead of the curve.

Crypto licenses in Lithuania cover two main types of operations for virtual asset service providers:
 

  1. Cryptocurrency exchange license — This license enables a company to execute virtual currency exchange against FIAT and vice versa, or facilitate virtual currency exchanges among themselves, earning a commission for the provided services.
     

  2. Cryptocurrency wallet license (cryptocurrency custodial services) — This license permits a company to hold virtual currencies in its wallet on behalf of its clients and maintain the encrypted private keys from these wallets. 
     

Discover the streamlined process of Lithuania's public registry for crypto licenses with Consulting24. Learn more here.

Both of these licenses fall under the purview of the Lithuanian Financial Crime Investigation Service (FCIS).

License acquisition process: 30-60 days

Cryptocurrency License Dubai or Estonia.

At Consulting24, we're experts in obtaining cryptocurrency licenses in various jurisdictions, including Estonia and the UAE. We thrive in simplifying complex procedures, turning the intricate licensing process into a smooth, navigable journey. With over 500 licenses successfully secured in Estonia and Lithuania, we have a wealth of experience to offer.

Estonia, renowned for its progressive and accommodating stance towards cryptocurrencies, is an attractive location for businesses in the crypto space. In the heart of the EU, it provides businesses with a clear regulatory environment and straightforward access to the vast European market. Whether it's for wallet services or exchange operations, acquiring an Estonian crypto license has proven to be a worthwhile investment for many.

As we continue to help clients navigate their crypto journey, our commitment remains the same: to maximize success while minimizing complications. Visit our page to learn more about securing an Estonian crypto license: Click here to learn more: Cryptocurrency License in UAE or Estonian Crypto Exchange.

With Consulting24, your crypto journey is in experienced hands. Let's embark on this exciting venture together.
 

Capabilities of a Lithuania-Registered VASP: What's Possible?

Understanding the Broad Functionality of Virtual Asset Service Providers

Crypto to Crypto

Firms recognized as Virtual Asset Service Providers (VASPs) have the privilege to offer exchange services for various digital assets, encompassing utility tokens and coins. Yet, they're not granted the authority to enable trading of security tokens.

Custodial Service

With a VASP License in hand, the holder is authorized to store cryptocurrencies for clients using custodial wallets. In simpler terms, the operator can establish a wallet on behalf of a client, while the VASP retains control over the private keys.

Crypto to Fiat, Fiat to Crypto

Holding a cryptocurrency license in Lithuania equips one with the ability to facilitate the exchange of cryptocurrencies for traditional, fiat currencies, and vice versa. Thus, clients gain the power to buy or sell utility tokens using conventional currencies like the USD, Euro, and more.

ICO/IDO/IEO

A Lithuanian-registered VASP possesses the capability to execute Initial Coin Offerings (ICOs), Initial Exchange Offerings (IEOs), and Initial DEX Offerings (IDOs). These platforms serve as avenues for the VASP to debut its cryptocurrency. It's important to highlight, though, that these offerings are strictly limited to the launch of utility tokens.

Staking as Service

VASPs have the permission to employ staking as an extra approach to derive passive income from cryptocurrencies. Rather than just retaining cryptocurrencies, staking offers a lucrative alternative, mirroring the concept of bank deposits in the world of crypto.

Mint & Trade NFTs

A VASP registered in Lithuania can carve out a platform for NFT trading or participate in the creation of NFTs, thereby shaping a marketplace for one-of-a-kind digital assets.

License Cost

VASP authorization Lithuania

  1. Company registration;

  2. VASP registration acquisition within FNTT;

  3. State and notary fees included;

  4. AML/CTF documentation;

  5. Share capital deposit account opening;

  6. Share capital registration; 
     

20 000 €

 

Extra service:

  • 3500€: AML finder fee

Documents & process: 

  1. Passport copies; ( verification via link);

  2. Address, phone numbers, e-mails;

  3. We provide POA to register a company on client's behalf; 

crypto license lithuania

Our Team

Mardo Soo, the CEO of Consulting24, is at the forefront of the effort to secure a crypto license in Lithuania.
Mardo Soo
Founder 
  • LinkedIn

"As the CEO at Consulting24, my role involves helping budding entrepreneurs set up their firms and secure the requisite licenses for crypto activities. We offer all-inclusive solutions that simplify the process, paving the way for clients to harness the power of the crypto sphere."

Lena Elvbakken, Founder of Consulting24, is at the forefront of the effort to secure a crypto license in Lithuania.
Lena Elvbakken
Co-founder
  • LinkedIn

"I provide tailored services to firms stepping into the world of cryptocurrency. With our expert counsel, clients can skillfully traverse the regulatory landscape and secure the crucial licenses required for their crypto-focused endeavors."

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