1. E-wallet – you will be able to open an e-wallet to its own clients from the back-end system which the license holder provide.
2. IBAN account – you will be able to open a EUR IBAN accounts to your clients under their name from the back-end system which the license holder provide. Your clients will be able to receive funds and make payments from their EUR IBAN which will be created by you.
3. Wire transfers – your clients will be able to make wire transfers (SEPA- SWIFT), Pay-in/Pay-outs.
4. Internal transfers – your clients will be able to make transfers internally between your users.
5. Currency exchange – your clients will be able to make a currency exchange.
6. Prepaid cards – you will be issuing prepaid cards to your clients. The prepaid card provider will be introduced.
1. Gathering information and preparation of documents, in these documents shareholder or parent company appoints POA with apostille to open savings bank account and act on behalf of the new owner in front of the company registry. Sign docs at notary office, and send them to Vilnius;
2. You will need to review and sign our agreement for the white label
3. You will need to send us a business plan (We will send you a sample after the agreement is signed) based on
a. Why you need an EMI license?
b. What business will you be running under the license?
c. Your business model – how would you be working?
d. Who will be your clients: e-commerce, gaming, FX, crypto etc.?
e. Where are your clients located geographically
4. We will fill in all Bank of Lithuania forms
5. We will submit your application and documents to the bank of Lithuania for review. Documents that will be needed for the Bank (original documentation and copies):
a. Corporate company documents (certificate of incorporation, memorandum, and articles.
b. Full extract about the company from Register (not older than 3 months);
c. Business plan on white label agency (we have this document);
d. For the manager of the company (director) we need passport copy, CV, education diplomas copies and certificate of non-conviction (not older than 3 months).
e. All documents must be notarized & apostilled.
6. Waiting period from the Bank of Lithuania is approx. 40 days. It could be longer; all depends on whether they have any questions or not.
7. Bank of Lithuania will inform the Authority/Regulator from the country you will be registering. They will check if there are no issues with your company in that country.
8. We will introduce the Agent to the IT department to start developing the back-end system to Agent’s needs.
9. Once all documents are checked and you have been approved, Bank of Lithuania will register you as an Agent on the list of all Central Banks of EU.
10. You will be working officially under your brand/Logo. (You must purchase a domain).
• Full white-label back end system, which allows the agent to register its own clients and perform various payment transactions, monitoring etc. The back-end system will be created under the agent/partner company legal or trading name that the agent will choose.
• Front end – the agent will be creating its own web-page under his needs and under the requirements / Terms and Conditions. At the bottom of this web-page, the agent must store info that he is working under another license.
1. Customer support – Agent must have its own support team. All necessary training will be provided
2. Training – full training will be a provider to the agent to understand the system and how to operate.
1. AML policy – Agent will be working under AML policy which will be approved by the Central Bank of Lithuania
2. KYC procedures –Agent will be collecting all necessary documents on behalf of the client and the submit for the KYC checks and final approval.
1. Agent will be officially registered at the local Regulator/ Authority country where his entity is located.
2. Agent will receive an official letter from the bank of Lithuania that he is fully authorized to work.
3. Agent will sign a service agreement which will be approved by Central Bank of Lithuania.