Posted: 14 May. 2020

FinTech

Lithuania’s FinTech sector is experiencing dramatic growth and its primary goal in FinTech sector remains to keep increasing competition and to further attract innovative players to the FinTech sector.

Why Lithuania?

The Lithuanian government strongly supports FinTech start-ups, by providing them with benefits that allow FinTech companies to get a license and access the European financial market at significantly lower incorporation and operational costs.

Here, in Lithuania, FinTech start-ups are provided with such privileges as:

  • obtaining e-money or payment institution license in 3 months
  • sandbox regime which grants non-existence of regulatory sanctions for the first year
  • “lite” bank license for specialized banks with minimum capital requirement – € 1 M
  • full SEPA reachability (34 countries) via CENTROlink, a payment system operated by the Bank of Lithuania, to non-banking institutions, including EMI and API
  • ability to issue your own IBANs

Deloitte FinTech services

We, at Deloitte, are active and passionate members of the FinTech ecosystem. We help incumbents to adapt, start-ups to grow and investors to seize the next opportunity, while also creating ways for FinTech to benefit society as a whole.

Deloitte FinTech team

Deloitte brings together professionals with diverse experience and knowledge to provide customized solutions for clients across all segments of FinTech. Our dedicated lawyers, financial and tax advisors stay ahead of technological change by closely following on the latest trends and transformations in FinTech and are able to provide you support on all key stages of establishment and expansion of your business.

Contact:

Tomas Davidonis

Tomas Davidonis

Legal Partner, Advocate

Tomas Davidonis heads Deloitte Legal practice in Lithuania. Tomas has advised many international and local companies in acquisitions, reorganizations, restructurings and corporate compliance. Tomas has worked on coordination of M&A due diligence projects in respect to a number of transactions of major value and assisted in negotiations and management of post-closing issues, as well as on legal integration of the target companies into the group of purchaser companies. Tomas experience in tax law enabling to offer sophisticated and custom tailored solutions to clients. Areas of expertise Mergers and Acquisitions Corporate Law Employment Law Contract Law

Monika Žlabienė

Monika Žlabienė

Managing Associate

Monika is a Managing Associate within Deloitte Legal Lithuania. She leads Deloitte Legal FinTech, Technology & Data practice. Monika is a privacy and fintechlawyer, who constantly provides legal advice on various licensing and compliance matters to local and international clients operating in financial and insurance sectors. Her clients include biggest EMIs in Lithuania as well as foreign investors establishing in Lithuania. She has almost 10 years of professional experience in counselling businesses from the CEE region, Western Europe and beyond. She is a member of the Lithuanian Bar association and certified DPO by Maastricht University. Areas of expertise: Privacy & Data protection, GDPR, EU & National regulatory affairs, Compliance, Product liability & Consumer protection, General commercial contracts.