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Many crypto companies want to actively work in the EU, as these countries have created favorable conditions for business development. Organizations can get a Lithuanian crypto license as soon as possible. There are no special requirements for applicants, and it is easier to obtain a work permit than in any other EU country.
Why is it worth obtaining a permit in this country?
Many crypto companies have already appreciated Lithuania’s benefits of getting a permit. This jurisdiction is interested in attracting foreign companies and investments, creating the most favorable conditions for them.
So, among the main advantages of such a solution are:
- Sustainable economy;
- Rapidly developing country;
- Does not make significant demands on applicants;
- No unnecessary bureaucracy;
- You can submit documents in electronic format;
- Simple regulation of cryptocurrencies and much more.
In addition, if you get a permit, you can legally work throughout the European Union and are not afraid of problems with regulatory authorities.
Why is it worth obtaining a license?
In the EU, governments seek to protect their citizens from scammers but simultaneously want to bring the crypto business out of the shadows. Thus, they offer bona fide companies to register and a little check, and everything is in order, then they will be able to work in any country of the European Union legally. But, if the company refuses to go through registration and licensing, it is automatically recognized as a fraudster, the platform is blocked, and the owner has problems with the law.
If you want to work honestly and openly, you should get a license; otherwise, your business will not be able to work and develop actively.
Many crypto business owners do not like licensing terms. It is especially true for decentralized crypto exchanges because, traditionally, users here can make transactions anonymously. To obtain a crypto license, you must comply with the KYC policy, which means that you must verify each user. Practice shows that it is better to abandon the idea of anonymous transactions but get a license, then your company will be able to develop and grow.
The process of getting a license
Getting a license in Lithuania is not tricky. Here you need to go through 3 main steps:
- Register an organization in this jurisdiction;
- Check how the company complies with the requirements of regulators;
- Apply for a license.
So, first, you need to register or buy a company in Lithuania. At this stage, you need to come up with a name, how it works, what services it will provide, and much more. By registering a company, you should have a well-thought-out business plan and ready-made software. The organization registration process can take up to 5 days.
Next, you need to collect the necessary papers and check how your company complies with the basic requirements of regulatory authorities. We advise you to hire qualified lawyers in advance to help solve this problem, as you may not have enough knowledge and skills to do this.
After the preparatory phase, you can apply to the respective regulatory authorities. Government officials will have approximately 14 days to review your company’s performance and decide carefully. You can reduce the probability of failure to zero if you use the services of Gofaizen-Sherle. Our experts will take care of the paperwork and represent your interests in regulatory bodies.
Our specialists know the specifics of the work of state bodies of this jurisdiction, so they understand what points you should pay attention to speed up the process of obtaining a license as much as possible. So, it doesn’t matter if you want to open a new company and are just starting your way in the crypto business, or you own a large international corporation and want to enter a new market for yourself, our lawyers will help you quickly obtain a license, no matter where in the world you are at. They will provide you with a full consultation and tell you what documents you need to offer them and what your participation in the licensing of the company will be, but they will take care of all the most challenging work.
Conclusion
Obtaining a work permit for any crypto company is a necessary process that is best left to professionals. The cost of such services is low, but you will be sure that the licensing will pass without problems.
You may be interested in: 5 Things You Need to Know About Business Licenses and Permits