 or payment institution registered...)
SEPA connections may be done by Electronic money institution (EMI) or payment institution registered in EU/Lithuania and questions may come up with SEPA connection for UK regulated Electronic money institutions passporting or extensions to EU/Lithuania and other EU member states.
UK regulated Electronic money institutions are fully compatible with SEPA and will remain fully operational at least until the December 31st 2020. UK regulated Electronic money institution extensions may be done – it is possible to open Electronic money institution branches in other SEPA countries such as Lithuania in order to continue carrying out their activities and carry out their operations as Electronic money institution (EMI in Lithuania).
Electronic money institution (EMI in Lithuania) may be fully SEPA connected as per necessity and provide their services within EU and also internationally. Same for the UK regulated Electronic money institutions which can be connected to SEPA and their operations may also be extended to EU/Lithuania.
Extension of UK regulated Electronic money institution or any other Electronic money institution operating within Europe, may be done by creating a local branch or registering at national Electronic money institution EMI regulator, which will allow the foreign Electronic money institution to carry out their services locally and be fully SEPA connected.
Electronic money institution EMI registered in Lithuania or in any other EU member state may be SEPA connected and provide their services within the SEPA participant area in Europe.
We offer the establishment of SEPA connection of Electronic money institutions, including UK regulated Electronic money institutions as well as to carry out the extensions in order for UK regulated Electronic money institutions to become EMI in Lithuania and fully SEPA compatible.
To find out more detailed information or should you need to receive specific information regarding Electronic money institution (EMI) registration in EU/Lithuania and information regarding SEPA, do not hesitate to contact our legal experts at valters.gencs@gencs.eu , info@gencs.eu , +371 67240090.