If you want to open a Lithuanian company operating as a crypto business, you must know that you will need a crypto licensein Lithuania. For investors interested in Lithuanian cryptocurrency sector, our team of consultants remains at your disposal for legal representation on the registration of the company, as well as on the issuance of the license.
| Quick Facts | |
|---|---|
| Crypto license (yes/no) | Yes |
Main taxes charged |
Corporate income tax, personal income tax, VAT (in certain situations) |
Tax exemptions (yes/no) | Yes |
| When are tax exemptions applied |
For tokens issued as securities |
| Taxes charged to individuals | The personal income tax |
|
Available crypto licenses in Lithuania | Lithuania cryptocurrency law regulates 2 types of licenses: cryptocurrency exchange operator license, cryptocurrency depositary wallet operator license |
| Industry regulator | Lithuania cryptocurrency is regulated by the Lithuanian Financial Crime Investigation Service |
|
Legal framework for cryptocurrency | The main legislation is the Law on the Prevention of Money Laundering and Terrorist Financing. |
| Know Your Client policies (yes/no) | Yes |
| Reporting requirements | Yes |
|
The institution issuing the crypto license | Lithuania cryptocurrency licenses are issued by the Lithuanian Financial Crime Investigation Service. |
| Rules of law for ICOs and tokens | Depending on their nature, various rules of law will apply, such as the Anti-Money Laundering Law and the Counter Terrorist Financing Law or the Civil Code. |
Documents for company incorporation |
• identity documents of the shareholders and directors; • the statutory documents of the company; • a valid corporate bank account; • a registered address for the company. |
| Duration of the license issuance | Minimum 20 days |
| Duration of the company formation process | Maximum 5 working days |
| How is cryptocurrency defined in Lithuania | Cryptocurrency is referred to as a digital representation of a virtual currency that has a value and the respective currency can be transferred/stored electronic by using digital means, such as distributed ledger technology. |
Types of cryptocurrencies accepted | Bitcoin, Ethereum, Litecoin,Dash, Bitcoin Cash, etc. |
Types of entities that can carry out crypto activities | Legal entities and individuals |
| Compliance obligations | Crypto businesses must abide by the rules of the Bank of Lithuania, the Ministry of Finance and the Financial Crime Investigation Service. They need to adhere to the rules of several laws – Regulation (EU) 2023/1114, Regulation (EU) 2023/1113 and the Law on the Prevention of Money Laundering and Terrorist Financing. For certain activities, they must also obtain a crypto license in Lithuania. |
| Is it necessary to renew a crypto license? | No, the licensee does not need to renew the document (it is, however, necessary to maintain compliance with the conditions under which the license was issued). |
| Procedure to incorporate a crypto company | The incorporation of a crypto company follows the standard registration procedure available for any legal entity. The company must register with the above-mentioned institutions and obtain a crypto license in Lithuania, if the activity carried out is a licensed one. |
| Types of crypto activities developed in Lithuania | Crypto exchange, ICOs, mining, service providers, etc. |
| Crypto ATMs (yes/no) | No |
| The city with the highest number of crypto ATMs | Not applicable |
| Company types suitable for crypto companies | A crypto company can be incorporated as a limited liability company. |
| Market share | 4.86% |
| Advantages of owning a cryptocurrency license in Lithuania | Those who must obtain a crypto license in Lithuania can benefit from a secure legal environment, they have access to the EU market and to banking services, they reduce the risk of having legal issues and have a competitive advantage on the crypto market. |
| Buying a cryptocurrency company | It is possible to purchase a crypto company. |
| Bank account required for foreigners (YES/NO) | Yes |
| Assistance with obtaining a cryptocurrency license in Lithuania | Our team can handle any matter concerning the submission of registration documents. You can rely on us for the issuance of the crypto license and compliance with the crypto laws. We also provide ongoing corporate services (tax compliance, accounting, business consultancy, etc). |
Table of Contents
What is the main crypto license I can obtain in Lithuania?
Investors who want toopen a company in Lithuania in the crypto industry must apply for the CASP license, which replaces previous crypto licenses that were issued in this country. Please mind that entities that have already been licensed under the previous laws need to align with the MiCA requirements.
What are the documents required for the registration of a Lithuania cryptocurrency business?
The investors who need a license for a Lithuania cryptocurrency company will have to present the following:
- a valid passport of each company founder;
- the power of attorney (which will provide our team with the right to legally represent you);
- extensive information on the company’s business model;
- AML/CTF internal procedures;
- compliance with the Travel Rule (which requires cryptocurrency companies to gather information on the originator and the beneficiary of a crypto transaction);
- documents concerning the company’s management;
- background check for all beneficial owners who own more than 10% of the company’s shares, etc.
How long does it take to register a Lithuanian cryptocurrency business?
From the beginning, it must be noted that the process of company registration in Lithuania is not a lengthy one, the company can be incorporated from a legal point of view in a period of 2 to maximum 5 working days (other steps need to be completed afterwards, which can increase the duration of the procedure).
What is the duration of the licensing process?
It can take around 6 to 12 months to complete the licensing procedure. Our consultants, specialized in company formation in Lithuania, can offer in-depth details on what this process entails (you can rely on our team for legal representation during all the stages of the licensing formalities).
What institution is responsible for the registration of crypto entities?
The National Bank of Lithuania.
We invite you to watch the video below on how to obtain a crypto license in Lithuania:
Are there any capital requirements?
Yes, capital requirements have been maintained under the new law as a prerequisite of opening a company in Lithuania in the crypto sector. The new law stipulates 3 thresholds, depending on the type of activity carried out (these activities are separate into 3 classes):
- EUR 50,000;
- EUR 125,000;
- EUR 150,000.
Do I need to open a corporate bank account?
Yes, the crypto company must also have a corporate bank account, and this procedure can take at least 2 weeks, and it can increase to 6 weeks.
Do your consultants charge any fees for the incorporation procedure?
Yes. For the registration of legal entities in Lithuania, crypto businesses included, we charge different fees. Our basic package starts at EUR 750. We offer additional corporate services, therefore we invite you toaddress our consultantsfor further information on our full list of services and prices.
What is the law on cryptocurrency licensing in Lithuania?
Starting with 1st of January 2026, Lithuania applies a new set of regulations concerning the registration, licensing and functioning of cryptocurrency businesses. Starting with this date, the country applies the European Union’s laws on crypto – the Market in Crypto Assets (MiCA) framework. The new law replaces the previous Virtual Asset Service Provider (VASP) with Crypto-Assets Service Provider (CASP).
We invite you toget in touch with our consultants in company formation in Lithuania, who can provide the necessary legal support during the incorporation of a crypto company and the issuance of a crypto license.