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In an era where digital transformation dictates the pace of business growth, Innovative Gaming Solutions (IGS) emerges as a pivotal ally for companies eager to make their mark in the online gaming sphere. By partnering with an array of White Label providers, IGS empowers businesses to launch their own branded online gaming websites, complete with a comprehensive turnkey package. 

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Cryptocurrency Licensing

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Lithuania Crypto License

Lithuania offers a friendly and regulated legal environment for virtual asset service provider (VASP) companies, with clear regulations in place since January 2020. Our team of professionals including on-site lawyers and AML compliance professionals provide structured solutions for crypto exchange and wallet authorizations setup.

Lithuania allows legal entities which are incorporated in Lithuania to engage in cryptocurrency exchange and/or cryptocurrency wallet operator activities. There are 2 types of cryptocurrency activity authorization (company can provide both cryptocurrency services or one of the following): 

  • Cryptocurrency exchange operator is the company exchanging cryptocurrency owned by the client for the commission fee;
  • Financial Stability: The operator must demonstrate financial stability and have sufficient resources to operate a gambling business.
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Advantages:

  • Implicity: Minimum procedural requirements and bureaucratic burden of the process.
  • Low costs: You only need to pay for the company registration, the authorized capital, as well as preparation and submission of documents,AML related policies, also to hire local AML officer (at last on part time basis).
  • No requirements for the residence of the company director and shareholders, only AML officer should be Lithuanian resident.
  • Terms: From 3 weeks
  • Taxes: A corporate tax from 5% to 15% is one of the lowest rates in the EU.
  • Remote Registration Format: There is an opportunity to register a Lithuanian company remotely
  • No requirements for hiring local staff, except for local AML officer who might also work part time.

Taxation

Virtual currencies (e.g. Bitcoin and altcoins) exchange services are not subject to VAT.

Services invoiced (e.g. sales invoices) in virtual currencies are subject to regular VAT rules.

Corporate profits are taxed at 15% (CIT=15%). Small companies with fewer than ten employees and less than 300 000 EUR in gross annual revenues can benefit from reduced corporate tax rate of 0-5%.

Withholding tax (WHT) 15% is charged on gross dividends if shareholder is individual, if shareholder is legal entity withholding tax is not applied (with few exemptions).

Require additional information?

Our dedicated support team is at your service. Please feel free to send us an email or submit your inquiry through our online contact form for assistance.

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Have more question?

Our dedicated support team is at your service. Please feel free to send us an email or submit your inquiry through our online contact form for assistance.

Get In Touch

Email

info@igaming-solutions.com

Curaçao Office

Seru Loraweg 17B

Our team of highly experienced professionals have a comprehensive understanding of iGaming markets and provides specialized guidance and support.

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