Lithuanian License From Ireland Requirements Guide

The question in full

An Irish incorporated company can apply for a Lithuanian license without changing its domicile. Full ownership and operational control remain possible. However, the CCO/MLRO must be based in Lithuania, speak the local language, and handle regulatory reporting under Bank of Lithuania requirements.

Answer

That would be our preferred option given that we’ll need to staff operations in whatever country we do get our license.

You can. There is no specific advantage per se. You can still be an Irish company, that is domiciled physically in Ireland and still have full ownership and operational control of your license. The only requirement as posted by the Bank of Lithuania (BOL) is that the CCO/MLRO (Chief Compliance Officer / Money Laundering Reporting Officer) has to be a Lithuanian native, ability to speak the Lithuanian language, and be physically based inside of Lithuania for reporting and operational purposes. The rest of the office/crew/ops can be outside of Lithuania.

Can we apply for a Lithuanian license if we are already incorporated in Ireland? That would be our preferred option given that we’ll need to staff operations in whatever country we do get our license.

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