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Lithuania: fintech & payments regulation

Regulated

Lithuania: EMI/PI license via BoL; PSD2 open banking; MiCA pending

Lead regulator
Bank of Lithuania
Also involved
VMI (tax) · FNTT (AML/CFT supervision)
Core law
Law on Payment Services and Electronic Money (2019)
Entry capital
EUR 350,000 (EMI)
Approval timeline
3-6 months
Customer assets
Segregated or fully insured
Data protection
GDPR · VDAI
Sandbox
Yes - Bank of Lithuania Sandbox

Lithuania is a premier EU hub for fintech, governed by the Bank of Lithuania (BoL) under the Law on Payment Services and Electronic Money. The regime is fully aligned with EU PSD2 and EMD2. Recent focus includes strict insurance requirements for open banking providers and enhanced banking access rights for fintechs. MiCA implementation is ongoing.

Which licence do you need?

Your activityRequirementCapitalTimelineAuthority
Payment processing / gatewayLicencePayment Institution[1]

Requires authorization under PSD2

EUR 20,0003-6 monthsBank of Lithuania
E-money & wallet issuanceLicenceElectronic Money Institution[1]

Higher capital than PI; full EMD2 scope

EUR 350,0003-6 monthsBank of Lithuania
Domestic money transferLicencePayment Institution[1]

Included in PI authorization

EUR 20,0003-6 monthsBank of Lithuania
Cross-border remittanceLicencePayment Institution[1]

Included in PI authorization

EUR 20,0003-6 monthsBank of Lithuania
Agent networkLicencePayment Institution[1]

Agents must be registered by the licensee

EUR 20,0003-6 monthsBank of Lithuania
Open banking / account informationLicencePayment Institution (AIS/PIS)[2]

Requires professional indemnity insurance

EUR 20,0003-6 monthsBank of Lithuania
Foreign-exchange servicesLicencePayment Institution[1]

Included in PI authorization

EUR 20,0003-6 monthsBank of Lithuania

New — what changed recently

  • 2022-03-01BoL Position on PII for AIS/PIS — Mandated minimum professional indemnity insurance terms for open banking providers.[2]
  • 2020-05-25BoL Position on Bank Account Access — Clarified credit institutions' obligation to provide non-discriminatory account access to fintechs.

Market-entry checklist

  1. 1Secure BoL authorizationApply for PI or EMI license with EUR 350k capital for EMI.
  2. 2Obtain banking partnerNegotiate account access under BoL's non-discrimination principles.
  3. 3Purchase PII insuranceSecure professional indemnity insurance if offering AIS/PIS.
  4. 4Register with FNTTRegister as AML/CFT supervisor entity with Financial Crime Investigation Service.

Sources

  1. Regulations for the Calculation of Initial Capital and Own Funds of Electronic Money Institutions and Payment Institutions · 2018-05-24
  2. Bank of Lithuania Position on Professional Indemnity Insurance for Payment and Electronic Money Institutions Providing PIS and AIS · 2022-03-01
This guide is compiled automatically from 2 primary-source documents published by Lithuania's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.