The Bank of Lithuania published an update on its Newcomer Programme, reporting that more than 150 foreign companies approached the supervisor about Lithuanian market opportunities in 2024 and that 35 new financial market participants received authorisations over the year. It noted that enquiries were lower than in 2023, but applicants were increasingly better prepared, while the licensing approach prioritises quality and early prevention of irregular activity, including money laundering and fraud. In 2024, 155 potential market participants received advice through the programme, down from 248 in 2023, with enquiries falling by 37.5%. Nearly half of foreign applicants (45.2%) sought an electronic money or payment institution licence and 14.8% applied for a crypto-asset service provider licence, alongside enquiries on banking, insurance undertaking, investment firm and crowdfunding service provider licensing. The programme has operated since 2016 and has been used by businesses from more than 90 countries, with the highest number of enquiries coming from the UK.
Bank of Lithuania 2025-03-10
Bank of Lithuania records 155 Newcomer Programme cases and grants 35 new market authorisations in 2024
The Bank of Lithuania reported its Newcomer Programme saw over 150 foreign companies explore Lithuanian market opportunities in 2024, with 35 new financial market participants receiving authorisations. Enquiries decreased by 37.5% from 2023, but applicants were better prepared, with 45.2% seeking electronic money or payment institution licences. The programme, operational since 2016, prioritises quality and early prevention of irregular activities.