Lithuanian regulator allows non-EU residents to be the top managers (CEO’s, board members) of licensed finance institution. Schengen Zone resident permits program allowing work and travel in Schengen Zone available for the citizens of non-European states running finance business in Lithuania.

Yes, it is mandatory to have a physical office in Lithuania and submit a long-term lease agreement of a real estate / office for the company to the Regulator. 

Minimum equity capital requirement is 350,000 EUR and a proof of origin and receipt of finances must be submitted.

Lithuania has a very attractive tax system - the standard corporate income tax rate is 0-15% which is the third among the lowest in the EU, and the personal income tax rate (15%) is the second in the same rating.

Expected licensing time is around 4-9 months. It largely depends on the cooperation of the shareholders and related parties since the application process runs in close collaboration with an applicant. License itself is to be granted within 3 months after the submission of all required documents. 

The Difference between Payment Institutions (APIs/PSPs) and Electronic Money Institutions (EMIs) is that E-Money Institutions, in addition to the list of Payment Services that an API/PSP may conduct, can also issue electronic money.