Open a corporate account with a Lithuanian payment system and acquire a personal IBAN – from 2,999 EUR

Please consider the opportunity to set up a corporate account with a Lithuanian Payment Service Provider thus gaining access to most up-to-date financial services in the Eurozone while paying little in commissions. We will gladly guide you through the procedure and make you the owner of a multifunctional business account in the SEPA zone and SWIFT and ACH networks.  

The advantages of the Lithuanian payment system

The Lithuania of today is the best place where you can acquire state-of-the-art payment services. The country boasts an advanced banking sector as well as a wide range of alternative financial institutions. In particular, Payment Service Providers (PSP) are prospering there due to the effective regulation on the part of the country authorities. 

We suggest that you use the services of a reliable payment system that provides access to various opportunities in addition to the traditional payment solutions. All the services are available at a small price. The fin-tech company is a modern provider of financial services. The State Bank of Lithuania regulates its activities and it is a licensed electronic money operator. 

This is a reliable partner that we have unlimited trust with. The company headquarters are located in Vilnius while the clients are serviced via an electronic platform. This feature is especially valuable in the times when moving around the globe has become extremely difficult. 

We recommend: Open a non-resident corporate account in Lithuania. It is secure, highly beneficial, and convenient. Both the PSP services and our intermediary services are hundred percent coronavirus friendly. Please write to us to [email protected] to acquire exhaustive information about this opportunity. 

What advantages a corporate account with the Lithuanian PSP brings to the non-resident of the country

Foreign companies establishing corporate accounts with the PSP in Lithuania gain access to professional support, traditional banking services, and numerous innovative financial solutions. 

Here are the main advantages of becoming a corporate client of the Lithuanian payment system:

• Detailed product descriptions to be found at the company website in the English and Polish languages;
• Convenient multifunctional online banking in English;
• Efficient client support in English;
• Mobile banking opportunities for Android and Apple devices;
• The possibility to make and receive payments via various payment protocols such as SEPA, SWIFT, and ACH;
• Provision of personalized IBAN numbers with the company name indicated;
• Provision of virtual IBAN’s (VAN’s);
• IBAN accounts are available in the major currencies such as EUR, USD and GBP;
• SWIFT transactions are possible — fast payments to and from 212 countries of the world in 35 different currencies;
• Low commissions;
• The possibility to acquire international debit cards;
• Instantaneous currency exchange without any commissions at the most competitive exchange rates;
• Accounts in various currencies are available;
• The possibility to make mass payments of any amount, in any currency, and to any number of destinations. 

Who can open a business account with the Lithuanian PSP 

Any foreign company that conforms to rather lax requirements can establish a corporate account with the payment system that we are promoting here. In order to be accepted for service you have to carefully complete all the electronic forms and submit all the necessary documents. 

Please note: The Lithuanian PSP has five different billing plans. The choice of the billing plan depends on the geographical location of the client’s business and the type of the company activities. For more information, please see below. 

Restrictions on the countries

Companies registered in sanctioned jurisdictions or connected to such jurisdictions via their beneficiaries may experience problems when setting up a corporate account with the PSP in Lithuania. 

Important: If you are unsure if your company or its UBO (Ultimate Beneficiary Owner) comes from a sanctioned jurisdiction or not, please discuss this issue with us. There is always a way out no matter what! The Lithuanian payment system managers are willing to discuss and consider each case individually. In addition to that, we have several ready-made solutions that will let you avoid all restrictions and minimize risks. 

• The Lithuanian PSP considers the following countries high-risk jurisdictions:

Albania, Algeria, American Samoa, Angola, Anguilla, Antigua and Barbuda, Armenia, Aruba, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belize, Benin, Bermuda, Bhutan, Bolivia, Botswana, British Virgin Islands, Brunei , Burkina Faso, Burundi, Vanuatu, Vietnam, Virgin Islands, Gabon, Gambia, Ghana, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Honduras, Hong Kong, Djibouti, Dominica, Dominican Republic, East Timor, Egypt, Sahara, Zambia, Zimbabwe, India, Indonesia, Cambodia, Kam runes, Cape Verde, Cayman Islands, China, Colombia, Comoros, Cook Islands, Costa Rica, Cote d’Ivoire, Kazakhstan, Kenya, Kiribati, Kuwait, Kyrgyzstan, Laos, Lesotho, Liberia, Macao, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, N. Mariana Islands, Namibia, Nauru, Nepal, Netherlands Antilles, New Caledonia, Niger, Nigeria, Oman, United Arab Emirates, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Puerto Rico, Reunion, Russia, Rwanda, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino , Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Solomon Islands, Somalia, Sri Lanka, Saint Pierre and Miquelon, Swaziland, Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tonga, Trinidad and Tobago, Tunisia , Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, Uruguay, Uzbekistan, Wallis and Futuna, Fiji, French Guiana, French Polynesia, CAR, Equatori All Guinea, Eritrea, Ethiopia, and Jamaica.

• The following jurisdictions are considered to be of moderate risk:

Andorra, Bulgaria, Georgia, Gibraltar, Guernsey, Hong Kong, Jersey, Cyprus, Malta, Isle of Man, and Singapore. 

Restrictions on the types of company activities

The Lithuanian PSP’s requirements to clients are more relaxed in comparison to those that traditional banks put forward. Preference is given to service providers, operators, marketing companies, and innovation technology producers.   

Services are not provided to companies engaged in the following areas:

• Cryptocurrencies;
• Adult services;
• Companies that conduct activities requiring a license or a permit without holding such license or permit. 

Please note: If you deal in cryptocurrencies, we have a different solution for you. Please write to [email protected] to inquire about it.

The Lithuanian PSP regards the types of business activities listed below as high-risk activities. If your company is engaged in one of the following areas, your application for opening an account with this payment system will be considered on the individual basis:

• Regulated online gambling;
• Skill games and fantasy sports;
• Ticket lotteries;
• Regulated online FOREX services;
• Transportation;
• Tourism and travel;
• Trade in real estate;
• Healthcare services;
• Trade in cannabis and marihuana for therapeutical use;
• Information exchange. 

The conditions of setting up a non-resident corporate account with the Lithuanian payment system

The PSP clients acquire a corporate account with an IBAN number. It gives access to a wide range of opportunities that include the following ones:

• Issuance and purchase of electronic money including the possibility to withdraw money from the account;
• The possibility to make transactions including international and domestic transactions as well as SWIFT and SEPA payments;
• Online currency conversion;
• The use of prepaid cards. 

The Lithuanian PSP does not require any first deposit to be made when setting up an account. Neither are there requirements as to the minimum balance on the account. 

In a standard situation, the PSP will open one account per company with an IBAN number. By default, it is going to be a euro account. You will have to file a separate application if you would like to open an additional account or an account in another currency. We will be happy to consult you on how to proceed in order to make use of these possibilities. 

Account currencies

The main currencies that the PSP clients can use are EUR, USD, and GBP. In addition to that, the following 35 world currencies can be used and converted into one of the main currencies:

Australian Dollar (AUD), Bahrain Dinar (BHD), Bulgarian Lev (BGN), Canadian Dollar (CAD), Chinese Yuan (CNY), Croatian Kuna (HKR), Czech Koruna (CZK), Danish Krone (DKK), Hong Kong Dollar (HKD), Hungarian Forint (HUF), Indian Rupee (INR), Japanese Yen (JPY), Kenyan Shilling (KES), Kuwait Dinar (KWD), Mexican Peso (MXN), Israeli Shekel (ILS), New Zealand Dollar (NZD), Norwegian Krone (NOK), Omani Rial (OMR), Polish Zloty (PLN), Qatar Rial (QAR), Romanian Leu (RON), Russian Ruble (RUB), Saudi Rial (SAR), Singaporean Dollar (SGD), South African Rand (ZAR), Swedish Krona (SEK), Swiss Franc (CHF), Thai Baht (THB), Turkish Lira (TRY), Ugandan Shilling (UGX), and United Arab Emirates Dirham (AED). 

Account types

What you essentially establish with the Lithuanian PSP is an electronic account. It can be used to make and receive payments as well as obtain other financial services similar to those that you can have with a bank. You can earn an interest on the account balance. 

The following types of accounts are available with the PSP:

• Current account;
• Card account;
• Trading account.  

Bankcard types

The Lithuanian payment system issues debit pay cards to its corporate clients.

Tariffs groups (billing plans)

Tariffs

How to open a corporate account with the Lithuanian PSP 

In order to start using the services of the Lithuanian payment system you have to set up an electronic corporate account with it designated for non-residents. It can be done rather fast by filling out the online application form. However, we recommend that you send the information to be included into the form to us via [email protected]. This will allow avoiding possible mistakes and thus delays and service denial. 

In addition to filling out the application form, you will have to identify yourself as a law-abiding businessperson. You have to understand that the payment system has to protect itself from possible involvement into money laundering practices and terrorism financing. You will have to submit several documents including proofs of company office address in the country of its registration.   

You will also have to confirm access to the e-mail address and the telephone number that you will have indicated. This should be done in accordance with the rules that we will gladly tell you about in detail. If these requirements are not met, the Lithuanian PSP will deny service to you.  

The corporate account with the payment system can have up to four account signers. If you would like to add more signers or if you want to make use of some other special functions, you can file a request to the support team and they will be ready to help you in any way they can.  

The procedure of setting up a non-resident corporate account with the Lithuanian PSP 

1. File a request for this service by writing to [email protected].  

1. Cover the cost of the service that will be indicated on the electronic invoice. We accept payments made by various means such as a bank transfer, a credit card and a PayPal, WebMoney, or Western Union payment. The basis cost of this service is 2,999 EUR. 

1. Prepare the application documents. The documents have to be in English. If necessary, please have them translated and have the translations notarized and apostilled. 

The application document package required when setting up an account with the Lithuanian PSP

The exact list of documents that are required for opening an account in Lithuania will depend on the country of the company registration. Usually the following documents have to be submitted:

• A standard corporate document package.

• A confirmation of the company legal registered address.

• Passport copies of all company beneficiaries and directors as well as proofs of residential addresses for all of them. 

The timeframe of establishing a corporate account with the Lithuanian PSP 

You have to prepare for the application carefully in order to be successful in opening an account with the Lithuanian payment system. The speed of the account establishment will depend on the completeness of the application form and the document package. The process will certainly go smoother and faster if you apply for our assistance. We have maintained friendly relationships with this PSP for a long time now and we have helped a great number of clients open corporate and personal accounts there. 

With our help, the whole process of acquiring a corporate account with a reliable, efficient, and inexpensive payment system will take around one week or so. 

If you are interested in this proposal, please write to us to [email protected] and we will be prompt in getting back to you.