Newcomer Programme

Newcomer Programme: single entry point for new market participants

The Newcomer Programme helps potential financial market participants evaluate their opportunities in Lithuania and gives an insight on legislative and licensing requirements for businesses aiming to commence their activities in the country.

Developing a FinTech-conducive regulatory and supervisory ecosystem as well as fostering innovation in the financial sector is one of the Bank of Lithuania’s strategic directions. Together with other state authorities, the Bank of Lithuania aims at creating a FinTech-friendly environment that would attract new companies and encourage them to incubate new products in the country.

Lithuania’s FinTech landscape at a glance

[[#ex]]

Newcomer Programme statistics

• The Newcomer Programme was launched in 2017. 
• More than 750 new market participants from over 70 countries have already participated in this programme.
• The Lithuanian FinTech sector consists of more than 265 companies, 6000+ people.

[[#ex]]

[[#ex]]

Why should you apply to the Newcomer Programme?

• If you intend to establish a company in Lithuania and do not have the necessary knowledge of legislation and licensing requirements.
• If you have established a company in Lithuania and are interested in development and obtaining a licence.
• If you have established a company outside Europe and are considering expansion opportunities in Europe.
• If your company operates in Europe, but you want to expand your business to the Baltic countries or become part of the Lithuanian FinTech community.

[[#ex]]

[[#ex]]

What are the benefits of applying to the Newcomer Programme?

• Basic information about licensing and financial services in Lithuania.
• Ability to check whether your future plans meet regulatory and licensing requirements.
• Opportunity to present your business plan to the representatives of the Bank of Lithuania and ask them any regulatory questions.
• Opportunity to establish an open and straightforward connection with the regulator.

[[#ex]]

Which licence are you interested in? 

[[#ex]]

Credit and payments market 

• Licence of a bank;
• Licence of a specialised bank; 
• Licence of a credit union;
• License of an electronic money institution;
• Licence of an electronic money institution to engage in restricted activities;
• Licence of a payment institution;
• Licence of a payment institution providing only account information services; 
• Licence of a payment institution to engage in restricted activities;
• Licence of crowdfunding service provider; 
• Entering on the public list of consumer credit providers; 
• Entering on the public list of operators of a peer-to-peer lending platform;
• Entering on the public list of independent credit intermediaries or on the public list of dependent credit intermediaries operating on behalf of more than one creditor acting in accordance with the Republic of Lithuania Law on Real Estate Related Credit;
• Entering on the public list of currency exchange operators; 
• Entering on the public list of Lenders operating in accordance with the Republic of Lithuania Law on Real Estate Related Credit. 

[[#ex]]

[[#ex]]

Insurance and capital market 

• Licence of a financial brokerage firm;
• Licence of a financial advisor company;
• Licence of a management company acting in accordance with the Republic of Lithuania Law on Collective Investment Undertakings;
• Licence of a management company acting in accordance with the Republic of Lithuania Law on Collective Investment Undertakings Intended for Informed Investors; 
• Licence of a management company acting in accordance with the Republic of Lithuania Law on Managers of Alternative Collective Investment Undertakings; 
• Licence of an insurance company;
• Licence of a reinsurance company;
• Entering on the public list of insurance broker undertakings.

[[#ex]]

[[#ex]]

Apply to the Newcomer Programme

• Request a meeting
• [email protected] 

[[#ex]]