The requirements for setting up a Lithuanian crypto company are:
Physical presence of the shareholder(s)/director(s) of the company in Lithuania is not mandatory and no physical office space is required - it is sufficient to obtain a virtual address (nevertheless, proper management of correspondence must be ensured).
A Lithuanian crypto company must have a director and an anti-money laundering (AML) officer. There is no requirement for the director to be citizen and/or resident of Lithuania, however, the AML officer should be Lithuanian resident. After the AML officer is employed, the State Social Insurance Fund, the Lithuanian FCIS and the Lithuanian Centre of Registers must be informed.
The documents which you will require to submit to the FCIS in order to notify them that you are starting to operate as a provider of virtual currencies-related services, are:
Nomad Law will help you with each of the steps, from setting up a company, preparing the AML/CTF policies, KYC procedures and other applicable documents to communicating with the authorities in order to authorize the company to provide crypto-related services. If preferred, Nomad Law will continue to provide corporate advisory and AML/KYC advisory throughout the lifetime of the company in order to ensure compliance with the latest regulations in a quick-changing positions of the supervisors regarding virtual currency businesses.
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