The EU Directive 2004/39/EC on Markets in Financial Instruments (MiFID or MiFID I) enables these people and Forex service providers who are licensed in at least one of the member countries of the European Union (EU) to present and offer their services in all financial markets in the EU/EEA. All EU members can use these services. It is MiFID that regulates and is responsible for all possible financial and investment services in the EU.
If you want to start your commercial way quickly, professional assistance and ready forex broker license for sale gives you the freedom to access all the necessary services for obtaining a license: selection of all necessary documents, assistance in the Lithuanian bank throughout the process, registration of a company, office, consultation on all IT, HR, AML and other issues.
Just one such MiFID license for brokerage, forex and investment consulting companies makes it possible to provide services to its customers in any country that is a member of the EU. This also includes the large national markets of Germany and France. This process is available without other additional licenses. The procedure for acquiring a license is elementary and will not take you much time. The rest of the EU countries do not have the opportunity to somehow influence the license, adding their own rules and setting their own barriers.
Thus, in Lithuania, representatives of companies, dealers, brokers are allowed by law to live outside their state so that they have direct contact with their customers.
Today, Lithuania and its capital Vilnius have a very good financial infrastructure that attracts other important document brokers and consultants. Providing its services at a sufficiently high level, Nasdaq is the owner of the central securities depository in such countries as Lithuania, Latvia, Estonia. The world-class financial infrastructure for investors and FinTech startups has been created thanks to the international banks SEB, Swedbank, DnB, which are based in Lithuania, along with their competitors. Compared to other European jurisdictions, a competitive advantage is possible through outsourcing low-cost services from local service providers.
Variety of Fintech –Wealthtech
Wealthtech opens the way to new technologies and quite good profits. Wealthtech’s flagship offering is a digital solution for investment advisory and regulation, brokerage processes, and wealth control, just as if Fintech provides digital payment processing solutions. Wealthtech makes it possible to transform traditional investment services into effective and economic solutions that will be found using artificial intelligence, a large amount of information and new technologies. All this will expand the circle of clients, since now investments will be available not only to rich people. Wealthtech includes the following digital data control tools:
- digital brokerage;
- portfolio management;
- expert support of investors, etc.
Today, Lithuania is a very attractive jurisdiction for investment advisors to stockbrokers and funds who want to present their services in the only European financial market, because Lithuania has a constant political aspiration, which is based on the creation of a business and on minimal costs for licensing and maintaining financial organizations.
Why does Lithuania take this place among other EU countries?
- The most affordable and fastest process for obtaining a license.
- Permission by law for directors of companies to reside outside Lithuania.
- All documentation can be kept in English.
- Constancy of action.
- Support for beginners by Lithuanian banks and the absence of fines in the first years of work, for small errors.
- Starting visa.
- Providing a special status and a special type of residence for people who do business in Lithuania, but are not citizens of EU countries.
- Possibility to become a member of stock exchanges, depositories and clearing houses in any other EU jurisdiction.
Also, Lithuanian licensed companies have the opportunity to directly participate and be members of stock exchanges, clearing houses, depositories, which are registered in any other EU jurisdiction, and do not have any restrictions. Thus, the single European financial market is maintained, which is based on an effective, completely safe, all-Union investment, consulting, brokerage company for important documents and Forex dealing instruments.