Best Fintech Lawyers in Marijampolė

About Fintech Law in Marijampolė, Republic of Lithuania

Marijampolė is a growing regional city in southern Lithuania. Fintech activities here are governed at the national and European Union level, so companies based in Marijampolė operate under the same legal framework as those in Vilnius or Kaunas. Lithuania is one of the EU's most fintech-friendly jurisdictions, with an active central bank, a clear licensing path for payment and e-money institutions, supportive initiatives for innovators, and EU passporting opportunities. Businesses can set up locally in Marijampolė for operational or cost reasons while interacting digitally with national authorities.

The Bank of Lithuania supervises most financial services, including payments, e-money, crowdfunding, and other regulated activities. Anti-money laundering oversight involves both the Bank of Lithuania and the Financial Crime Investigation Service. Data protection is governed by the EU General Data Protection Regulation and enforced by the national data protection authority. EU-wide rules like PSD2, MiCA, and DORA now shape product design, risk management, and technology use for fintechs based anywhere in the country.

Why You May Need a Lawyer

Licensing strategy and scope of services can be complex. A lawyer can help you determine whether you need an electronic money institution license, a payment institution license, a specialized bank license, a crowdfunding authorization, a crypto asset service provider authorization under MiCA, or can operate under an exemption. They can also manage the application, draft policies, and respond to regulator queries.

Product design and compliance require early legal input. This includes customer onboarding and remote identification, strong customer authentication, payment flow structuring, safeguarding of client funds, crypto custody and exchange mechanics, disclosure and marketing rules, and cross-border services. Legal advice helps align features with Lithuanian and EU requirements before you build.

AML and sanctions obligations are strict. You will need a risk assessment, policies, customer due diligence procedures, screening, transaction monitoring, reporting to authorities, and ongoing training. A lawyer can set up your framework, select appropriate standards, and prepare for audits and inspections.

Data and technology risk rules are evolving. GDPR compliance, cloud and outsourcing contracts, incident reporting, ICT and operational resilience under DORA, and vendor governance all benefit from legal guidance to avoid penalties and downtime.

Contracts and partnerships are central to fintech models. Lawyers draft and negotiate agreements with banks, payment processors, agents and distributors, merchants, technology vendors, and customers, ensuring liability, IP, and regulatory obligations are addressed.

Daily operations and growth trigger legal needs. These include corporate formation or restructuring, equity and employee options, employment agreements, tax planning with advisors, consumer complaint handling, dispute resolution, and interactions with regulators.

Local Laws Overview

Banking and payments framework. Lithuania has national laws implementing EU directives and regulations. The Law on Payments and PSD2 govern payment services, access to accounts, strong customer authentication, and complaint handling. The Law on Electronic Money and Electronic Money Institutions covers issuance of e-money and safeguarding. The Bank of Lithuania is the licensing and supervisory authority and operates initiatives that support market entry. Access to SEPA payments may be available through arrangements like the central bank's payment infrastructure or through partner banks and payment institutions.

Crypto and digital assets. The EU Markets in Crypto Assets Regulation applies across Lithuania. Depending on the services offered, crypto asset service providers require authorization and must meet governance, capital, conduct, and disclosure obligations. Anti-money laundering laws apply to crypto businesses, including customer due diligence, monitoring, and reporting to the Financial Crime Investigation Service. Firms must also comply with the EU funds transfer rules for the crypto travel rule.

Crowdfunding. EU rules for European crowdfunding service providers apply. Providers need authorization, must follow investor protection and disclosure requirements, and are supervised nationally. Lithuania previously had a domestic framework that has been aligned with the EU regime.

Operational resilience and ICT risk. The EU Digital Operational Resilience Act applies to financial entities and sets requirements for ICT risk management, incident reporting, testing, third party risk, and oversight of critical providers. These obligations apply in addition to any national guidelines on cybersecurity and outsourcing.

Anti-money laundering and counter-terrorist financing. The Law on the Prevention of Money Laundering and Terrorist Financing establishes customer due diligence, beneficial ownership, internal controls, reporting of suspicious transactions, and record keeping. Certain businesses must register and identify their ultimate beneficial owners in national registers. Supervisory responsibilities are split between the Bank of Lithuania for financial institutions and the Financial Crime Investigation Service for AML enforcement and financial intelligence.

Data protection and privacy. GDPR applies in full, with oversight by the State Data Protection Inspectorate. Fintechs must implement data minimization, purpose limitation, lawful bases for processing, transparency, data subject rights, security measures, and breach notification. Remote onboarding, biometrics, and cross-border transfers require particular attention.

Consumer protection and marketing. The Bank of Lithuania acts as an out-of-court dispute resolution body for financial services. Consumer credit, payment services, advertising, and unfair commercial practices laws set transparency and conduct standards. Marketing must be fair, clear, and not misleading.

Corporate and tax matters. Most fintechs incorporate as a private limited liability company. Registration is handled by the national Center of Registers. Companies must maintain accounting records, file annual financial statements, and comply with national tax rules administered by the State Tax Inspectorate. Municipal matters, such as business premises and local charges, are handled with the local administration in Marijampolė.

Employment and immigration. The Lithuanian Labour Code governs employment contracts, working time, termination, and employee rights. Social security registration is required. For non-EU nationals, work and residence permits are handled through national migration authorities. Senior managers and compliance officers must meet fit and proper criteria where a license requires it.

Frequently Asked Questions

Can I base my fintech in Marijampolė and still get licensed nationally

Yes. Licensing and supervision are handled at the national level, so you may base your team or operations in Marijampolė while interacting with national authorities. You will still need appropriate governance, substance, and resources in Lithuania as required by your license.

Which license do I need for my product

It depends on the services. Issuing stored value or wallets that hold client funds often requires an electronic money institution license. Processing payments without holding funds may fit a payment institution license. Taking deposits or lending from repayable funds requires a banking license. Operating crypto exchange, custody, or other crypto services requires authorization as a crypto asset service provider under EU rules. Crowdfunding platforms need authorization as a European crowdfunding service provider. A legal assessment maps your features to the correct license.

How long does licensing take

Timelines vary based on the license type, completeness of the application, and supervisory workload. A well prepared payment or e-money application can take several months, while more complex licenses may take longer. Early contact with the supervisor and thorough documentation help reduce delays.

What capital do I need

Initial capital depends on the license and services. Electronic money institutions and payment institutions have EU set minimums. Crypto asset service providers have initial capital and own funds requirements that vary by service type. Specialized banks have higher minimum capital. A lawyer can confirm the exact thresholds that apply to your model.

Can I passport my services across the EU or EEA

Yes for many licenses. Payment and e-money institutions can passport to other EEA states after notification. European crowdfunding service providers and authorized crypto asset service providers can serve clients across the EU, subject to each regime's passporting process. You must maintain ongoing compliance in all host states.

What AML rules apply to my startup

All regulated financial services and many crypto services are subject to AML and sanctions rules. You need a risk assessment, customer due diligence procedures, screening, transaction monitoring, suspicious activity reporting to the Financial Crime Investigation Service, record keeping, and training. Appointing an AML officer and conducting independent testing are standard expectations.

Is remote onboarding of customers permitted

Yes, if done in line with national and EU rules. Remote identification and verification must meet regulatory expectations for strong assurance. Financial institutions should follow the Bank of Lithuania's and EU guidance on remote onboarding, strong customer authentication, and fraud prevention.

How are customer complaints handled

Firms must have internal procedures and respond within statutory timelines. If a dispute remains unresolved, consumers may apply to the Bank of Lithuania for out-of-court dispute settlement. Firms must also maintain clear records and treat customers fairly throughout the process.

Do I need local directors or staff in Lithuania

Substance requirements vary by license but generally expect effective management in Lithuania, fit and proper senior managers, and control functions such as compliance and AML with real oversight. Some roles may need local residency or presence. Outsourcing is possible but responsibilities remain with the licensed entity.

How can I issue IBANs and access SEPA payments

Options include becoming a licensed payment or e-money institution with access to national payment infrastructure or partnering with a bank or another institution that provides SEPA access and IBAN issuance. The right path depends on your business model and resources.

Additional Resources

Bank of Lithuania Supervision Service for licensing and ongoing supervision information.

Bank of Lithuania Newcomer Programme and Regulatory Sandbox for early engagement and product testing support.

Public registers of licensed payment institutions, electronic money institutions, and crowdfunding providers maintained by the national supervisor.

Financial Crime Investigation Service for AML compliance, reporting guidance, and suspicious transaction submissions.

Center of Registers for company incorporation, the Register of Legal Entities, and beneficial ownership filings.

State Data Protection Inspectorate for GDPR guidance, registrations where applicable, and breach notifications.

State Tax Inspectorate for corporate tax, VAT, and registration matters.

State Consumer Rights Protection Authority and the Bank of Lithuania for consumer protection and dispute resolution information.

Innovation Agency Lithuania and Invest Lithuania for business setup support and market insights.

Marijampolė Municipality Administration for local business premises, permits, and municipal matters.

Next Steps

Define your services and target markets. List every feature your product will offer, such as issuing a wallet, processing payments, crypto custody, or operating a marketplace. This determines the licensing path and compliance scope.

Schedule an initial consultation with a fintech lawyer. Bring a short product brief, draft user flows, preliminary financial model, and any technology architecture diagrams. Ask for a license assessment, a regulatory roadmap, and an estimate of time and cost.

Choose a legal entity and governance structure. Decide on the corporate form, shareholding, board composition, and key function holders. Prepare fit and proper documentation for senior managers and compliance officers.

Prepare your application and compliance framework. Draft policies for AML, risk management, safeguarding of funds, complaints, outsourcing, ICT and operational resilience, data protection, and incident response. Align contracts with partners and vendors to regulatory expectations.

Engage early with authorities. Use national programmes that allow pre-application discussions. Clarify expectations for substance, staffing, and technology. Address feedback before formal submission.

Plan for launch and scaling. Set up reporting, audits, and board oversight. Implement training. Map out passporting steps if you plan to enter other EU or EEA markets. Review your framework regularly as EU and national rules evolve.