Bank of Lithuania
Lietuviškai

FAQ

  2. FAQ
Print
All results 38
Relevance Date Question
Licencing. Credit and payments market
Banks and specialised banks
1
20-11-2018 Is a bank authorised to refuse to provide services to consumers or businesses?
4
20-11-2018 Is an institution that has obtained a banking licence in Lithuania obliged to provide banking services in Lithuania?
20-11-2018 Is a bank authorised to outsource part of its functions?
1
20-11-2018 Is a bank authorised to provide services in other EU Member States?
1
20-11-2018 Can the capital of the bank being established be formed from funds raised during an ICO?
20-11-2018 Is it necessary to form the capital of the bank being established prior to applying for a licence?
20-11-2018 Can I establish a payments bank?
1
20-11-2018 Is a specialised bank authorised to provide any financial services?
20-11-2018 Is the applicant obliged to submit a recovery plan?
20-11-2018 Can only citizens of the Republic of Lithuania who permanently reside in Lithuania become directors of a bank?
Payment institutions and electronic money institutions
12-01-2021 What are the main requirements on the implementation of the internal audit function in electronic money and payment institutions?
4
27-11-2018 Can an electronic money or payment institution established in Lithuania and having a branch in another Member State carry out its activities in the branch only?
2
27-11-2018 In which cases may an electronic money or payment institution licence be withdrawn?
1
27-11-2018 Can the same persons be shareholders of more than one electronic money or payment institution in Lithuania?
3
27-11-2018 Can the initial capital of an electronic money or payment institution be formed later, i.e. after the institution has started operating and obtained the relevant licence?
3
27-11-2018 Is a licenced electronic money or payment institution authorised to open a branch or to operate as a non-established institution in a non-Member State? Where can I find information regarding the applicable requirements?
2
27-11-2018 Is a licenced electronic money or payment institution authorised to provide ancillary services related to payment services?
6
27-11-2018 What are the requirements for the management body of an electronic money or payment institution?
27-11-2018 What is the difference between an electronic money or payment institution licence for restricted activity and a standard electronic money or payment institution licence?
27-11-2018 Is an entity being established required to provide its articles of association or draft articles of association when submitting an application for an electronic money or payment institution licence?
27-11-2018 Should the management body of an electronic money or payment institution reside in Lithuania (meaning that they are present on-site)?
27-11-2018 A payment or electronic money institution must provide evidence to show that its minimum initial capital is not lower than the amount that has been established by law. Which documents are considered as valid evidence regarding the initial capital amount?
20-11-2018 Are electronic money or payment institutions authorised to engage in activities related to virtual currencies and ICOs?
20-11-2018 Which licence should we obtain if we are planning to open payment accounts (electronic wallets)?
20-11-2018 Which documents a company has to submit to the Bank of Lithuania in order to be granted an electronic money or payment institution licence?
1
20-11-2018 Is an electronic money or payments institution obliged to have a supervisory board in place?
20-11-2018 Which main by-laws regulate the procedure for issuing (or replacing) an electronic money or payment institution licence?
20-11-2018 Can a legal entity being established apply for an electronic money or payment institution licence? What is the timeframe for registering a legal entity after the issuance of a licence?
Other credit and payments market participants
27-11-2018 Does the Bank of Lithuania provide sample copies of the responsible lending and borrowing rules, business model description, business continuity plan or other documents?
27-11-2018 Does a consumer credit provider have to inform the Bank of Lithuania about new dependent intermediaries of the consumer credit provider?
27-11-2018 Is a supervisory board member of a consumer credit provider or a peer-to-peer lending platform operator considered as the director of that provider or operator?
27-11-2018 Does an individual, a consumer credit provider, or a peer-to-peer lending platform operator aiming to acquire shares of a crowdfunding platform operator have to submit an application to approve of the acquisition if the share of the crowdfunding platform operator which they plan to acquire amounts to less than 20% of the voting rights and/or the initial capital?
27-11-2018 Dependent and independent credit intermediaries acting under the Law on Real Estate Related Credit are obliged to have a document which confirms the existence of professional indemnity insurance for their undertaking with a minimum monetary value of €460,000 for each individual claim and a total value of €750,000 for all claims for a calendar year. Do the legal acts provide for any exceptions as regards to the indemnity amount?
27-11-2018 Can a consumer credit provider submit an application to include it in the Public List of Consumer Credit Providers after the Bank of Lithuania has removed it from the list?
27-11-2018 If a consumer credit provider or a peer-to-peer lending platform operator has not conducted any activities for more than six months, does it have to submit an application to be removed from the list?
27-11-2018 Do legal acts provide for a consumer credit provider, a peer-to-peer lending platform operator, or a crowdfunding platform operator to carry out their activities in another Member State after being included in the list?
27-11-2018 Is a legal person who is aiming to be included in the Public List of Consumer Credit Providers or Peer-to-peer Lending Platform Operators obliged to have their head office in the Republic of Lithuania?
27-11-2018 Do I need to fill out any specific application to be included in the Public List of Independent Consumer Credit Intermediaries or Intermediaries Acting under the Law on Real Estate Related Credit?
Last update: 08-08-2022