Nordic Corporate Solutions is a boutique corporate service provider offering expertise in operating and holding companies management and innovative financial solutions. By assessing the needs and profile of every client we provide flexible end-to-end service and best options for compliant tax optimized structures. The latter might range from ordinary legal entities (onshore and/or offshore) to Fintech industry start-ups, multi-layer ICO projects and establishment of financial institutions such as specialized banks, electronic money institutions, payment institutions or investment funds and fund management companies. We believe in tailoring appropriate solutions to meet specific needs of our clients and never compromise on the quality of our services.
Corporate legal and financial experience enables us to service clients who intend to start, expand or terminate their business not only in the Baltics where we are present but in the whole Nordics including Sweden, Finland, Norway and Denmark. We advise on structures that range from the most common stand alone company incorporations (used for business operating or asset holding purposes) to complex legal structures (used for banking license applications or collective investment undertakings (CIU) management) etc.
In addition we have full working knowledge and experience of the BVI (the British Virgin Islands) jurisdiction in-house. This jurisdiction is worldwide known as one of most tax friendly and flexible in legislation but at the same time trustworthy and well accepted by listed markets. Our team provides full legal and fiscal (if necessary) support to BVI BCs (business companies) starting from their incorporations to dissolutions. We consult on the usage of the BVI companies for the clients’ best interests be it a simple holding company or a comprehensive financial investment vehicle.
Corporate solutions for Fintech
Located in Vilnius, Lithuania we take an opportunity to offer our clients all local niche products related to fintech sector which has been rapidly growing recently. Fintech sector is highly supported and promoted by authorities at both national and municipal level by the introduction of fintech-friendly regulations, including those on the obtainment of an e-money, payment license or specialized bank license that are 2-3 times faster in timeframe than in other EU jurisdictions. Moreover, a one-year sandbox period of friendly regulations is available for start-ups. At Nordic Corporate Solutions we are ready to help our clients by leading projects in start-ups and obtaining licenses for:
Introduced in 2017 this form of a bank has been devised in order to establish a favorable environment for Lithuanian and foreign startups seeking to begin providing various financial services in the European Economic Area. The key feature of a specialized bank is the minimum capital requirement of EUR 1 million, while for a traditional bank it is EUR 5 million. Nevertheless, compared to a traditional bank, a specialized bank may provide somewhat fewer services – it is subject to limitation in investment.
Electronic money means a monetary value as represented by a claim on the issuer which is issued on receipt of monetary funds (hereinafter referred to as ‘funds’) by the electronic money issuer from a natural or legal person and has the following characteristics: stored electronically (incl. magnetically); is issued for the purpose of making payment transactions; is received by persons other than electronic money issuers.
The minimum capital requirement for a payment institution, subject to the services provided, should not be less than EUR 20,000, EUR 52,000 or EUR 125,000. A payment institution is not entitled to withhold the funds of a client for a relatively longer time than necessary for the execution of a payment transaction; therefore, for clients to be able to hold funds in payment cards or other technical instruments such as an ‘e-wallet’, a payment institution license is not sufficient (in such a case, an electronic money institution or bank license is necessary).
Management companies for CIU whose main activity is management of investment funds or investment companies. The initial capital of a management company of CIU should not be less than EUR 125,000.