Lithuanian virtual currency

1. Hello, I'm glad to answer this question
in 2017, 68% of Europeans used mobile payment and digital wallet. By the end of this year, the demand for mobile payment business in Europe has nearly tripled, from 52 billion euros to 148 billion euros, which has attracted many foreign financial companies to enter the European market one after another. Among them, Lithuanian and British EMI licenses are the most popular
what is EMI license plate
EMI: (electronic money institution) Chinese is the license of electronic money institution. The main function is to issue e-money, and provide payment, prepaid card and e-wallet services in specific areas
Lithuanian EMI
the Lithuanian government takes attracting foreign investment, creating employment and promoting growth as its policy direction, and constantly improves the investment environment. In 2017, the tax preference of the free economic zone was expanded; Compared with other EU countries, the overall efficiency is nearly three times faster
according to the official data of the Central Bank of Lithuania, so far in 2020, there are 71 companies holding EMI licenses. As of the first quarter of 2020, the total revenue generated by EMI and payment instry is more than 17 million euro. In addition, some of the top EMI companies in Lithuania, such as paysera, perlas finance, secure Nordic, Lietuvos PA & š; TAS, connectpay, Walter, lietuvo, etc. occupy most of the market share, which is also worthy of attention
from the data of Lithuanian central bank over the years, it can be seen that foreign investment's interest in EMI is increasing year by year. In 2017, there were 29 EMI companies, which rose to 49 in 2018, and then to 67 in 2019
from the perspective of operating revenue, it also shows an increasing trend year by year. In 2018, EMI realized a revenue of 28.69 million euros; In 2019, EMI revenue will rise to 43.37 million euros, with a growth rate of 51%. The main source of income is e-money issuance and payment services
UK EMI
the UK financial system is quite perfect, and all kinds of financial business are mainly regulated by the financial conct authority (FCA). The UK is quite perfect in the field of financial supervision, and European countries often refer to the British system when making relevant laws and regulations. Therefore, the EMI license in the UK is not only valuable, but also greatly improves the business development and qualification of the company after obtaining the license
by 2020, there are 205 EMI companies in the UK, including 174 authorized electronic money institutions (AEMI) and 31 small electronic money institutions (semi), ranking the first in Europe
the UK government is quite open to the financial instry. At present, there are about 1600 financial technology companies and about 200 incubators set up in the UK, and most of them are located in London. It can be seen from the data that in 2018, the investment of technology finance instry in the UK reached 3.46 billion pounds, and in the first half of 2019, it reached 2.91 billion pounds, breaking the previous high. With its perfect financial infrastructure and upstream and downstream instrial chain, the attraction to foreign investment is increasing in recent years
of all EMI licenses in Europe, the number of licenses authorized by FCA in the UK accounts for 55% of the total EEA market, which is much higher than that in Lithuania. It can be seen that the popularity of EMI in the UK is still higher than that in Lithuania
basic requirements for EMI application
00001; Local companies
00002; Certificate of 350000 Euro registered capital
00003; Background survey data
00004; Company business plan
00005; Corporate governance and internal control plan
00006; Risk control and software system scheme
00007; AML / CTF scheme
00008; Other information
summary:
the EMI of Lithuania and the UK have similar functions and application conditions, but the two countries have their own advantages and disadvantages and can choose according to their own conditions
for start-ups or companies that are new to the European market, the entry threshold of Lithuanian EMI is lower, which will be a better choice. In addition, if we consider the uncertainty after brexit, it is safe to obtain a Lithuanian license first
for companies with excellent qualifications, to obtain a British EMI can not only significantly improve the company's reputation, but also make use of the upstream and downstream financial instry resources in the UK to achieve the effect of business integration< br /> 

2. The euro is the currency of 19 countries in the European Union. The 19 member states of the euro are Germany, France, Italy, the Netherlands, Belgium, Luxembourg, Ireland, Spain, Portugal, Austria, Finland, Lithuania, Latvian, Estonian, Slovak, Slovenian, Greek, Maltese and Cyprus< In July 2002, the euro became the only legal currency in the euro area. The euro is managed by the European system of central banks (ESCB), which is composed of the European Central Bank (ECB) and the central banks of the euro area countries, In addition, the euro is also the currency of six non EU countries (regions), namely, Monaco, San Marino, Vatican, Andorra, Montenegro and Kosovo. Among them, the first four pocket countries use the euro according to the agreement with the EU, while the latter two countries (regions) use the euro unilaterally.

3. Litt
LITT (Lithuanian: Litas) is the legal tender of Lithuania. It is issued by the Bank of Lithuania, and its secondary currency is Lifen. The denominations of Ritter are 500, 200, 100, 50, 20, 10, 5, 2 and 1, while the denominations of Lifen are 50, 20, 10, 5, 2 and 1.

4. Lithuanians still use Lite. The pattern of euro coins has been designed. It was originally planned to use euro in 2013. However, e to high inflation, it is not sure when euro will be officially used

5. I checked for the landlord:
the new year's day of 2015 is approaching. The new year's bell will mark the end of the past year and start the new year. For the Lithuanian Ritter, the bell marks the end of its mission. From January 1, 2015, Lithuania will become the 19th member of the euro zone, opening its euro era.

6. Hello, I'm glad to return to this question.
I believe you all know about payment licenses. Today, let's talk about the EU payment license and e-currency license in Lithuania, which have high gold content
the Bank of Lithuania is the main financial regulator in Lithuania, which combines the functions of Lithuanian central bank and financial regulator (regulator). The relatively loose regulation and the significant rection of the cost of registration, licensing and maintenance of financial institutions have made Lithuania a hot area for financial companies in the world< The tasks of the central bank include:
&; Promote and develop Lithuania as an international financial service center< br />  To protect and strengthen Lithuania's reputation as a financial center of the European Union
appropriate supervision and regulation of international financial services
formulate policies and provide advice and assistance to the government in the regulation of such services
collect, archive and disclose reliable and timely information, and always follow up changes and new trends in relevant aspects of these services
1. There is no special requirement for the management of the company to operate locally
2. It is not necessary to register a company before the license is issued, but it can be registered after the license is obtained
3. Fast license processing takes about three months
4. The company information documents and compliance documents submitted can be in English
5. Remote client authentication. The innovative process of "know your customer" is to open an account for remote customer verification without the customer's presence
6. Pass to other EU jurisdictions. The passport of other EU countries is free and takes one month
7. No sanctions in the first year. Lithuanian bank promised to support start-ups, and in the first year of operation, if the company has minor violations, it will not be punished
8. Visa application: for non EU customers, they can apply for the visa of Lithuanian start-up business owners
capital deposit: the Central Bank of Lithuania has a capital deposit requirement for the payment of licenses. The margin is 125000 euros. The company is not required to pay capital margin until the license is approved. Only after the company obtains the license can it register the company and pay the capital deposit.
qualification requirements for directors and members of the board of directors: the Central Bank of Lithuania has strict audit requirements for directors and shareholders of Payment institutions, and only qualified directors and shareholders can apply for the license for the company
director requirements: must have higher ecation background in law, management, business management or economics. In the past eight years, he has worked as a senior executive in financial companies in payment and related businesses for two years. Directors need to submit the following personal documents:
1. Personal identification documents, such as passport
2. Complete the questionnaire of the central bank
3. Notarization without criminal record
4. Degree certificate
the company has at least two other board members with higher ecation background in law, management, business management or economics. In the past five years, the company has held senior positions in audit, lawyer, financial practitioner and accounting for one year. Moreover, members of the board of directors also need to submit the following personal documents:
1. Personal identification documents, such as passport
2. Complete the questionnaire of the central bank
3. Notarization without criminal record
4. Degree certificate< Requirements of shareholders: if the shareholder of Lithuanian company is a company or enterprise, the following documents should be provided:
1. Company registration documents certified by the Hague
2. Financial statements and auditors' reports for the past three years
3. A list of members of a single or multiple person management team, indicating their names, surnames, positions, and the good reputation and experience of each natural person
4. Articles of association
if the shareholder of Lithuanian company is a natural person, the following documents should be provided:
1. Copy of passport and notarized of address certificate
2. Complete the questionnaire about a natural person's reputation and experience
3. Documents and data describing the financial situation:
annual tax returns for the past three years
1. Details of personal assets and liabilities, including available funds, movable and immovable property,
2. Giving and obtaining loans, issuing guarantees, guarantees, pledging or seizing property
3. Proof of no criminal record in the country of residence< The process of applying for payment license takes about 4-5 months:
1. Prepare e diligence documents of directors and shareholders to ensure that they meet the requirements of "appropriate and appropriate"
2. Prepare the compliance documents of license application, such as business plan, business operation mode, 3-year financial forecast, internal operation manual, combating money laundering and terrorist financing, understanding your customer process,
3, customer contract, company structure diagram, etc
4. Submit the license application to the Central Bank of Lithuania and answer all the inquiries / comments (if any) from the central bank on the company
5
6. Registered company
7. Paying capital margin
our regulatory license business scope: US MSB, Canada fintracmsb, US NFA, Estonian MTR, Australia austrac, UK FCA, Maltese regulatory license, Bahamas regulatory license, Mauritius regulatory license, Japan FSA financial regulatory, Hong Kong SFC financial regulatory, Singapore foundation Singapore MAS financial supervision, Xiyu technology, St. Vincent registered text supervision, vfsc Vanuatu supervision, UAE FSRA license, Cyprus cysec license, Belize IFSC license, New Zealand FSP and FMA license, Australian ASIC license, Swiss FINMA license, Seychelles FSA license, Cayman CIMA license and other global overseas regulatory licenses.

7. Hello, ICBC can't change Lithuanian currency
this is a small currency, not a currency in circulation in the world.

10. Today's real-time exchange rate: 1 Lithuanian Litas = 2.41725 yuan, the above data is for reference only, and the transaction time is subject to the transaction price at the bank counter.