Lithuania – new destination for UK financial institutions loosing “passporting rights” after BREXIT

Banksy painting Brexit

As it is almost clear that that UK banks, investment managers, payment service providers and other financial institutions will lose their “passporting rights” to do business in the European Union, Lithuania competes in attracting international financial companies leaving the UK. The Northern country uses the opportunity to become the forefront of financial technologies in the region and there are many reasons to believe about this success. An attractive legal and technological environment, business minded and advanced supervisory authority open to financial market innovations, qualified and competitive workforce, opportunities to operate across the EU basing from Lithuania – that‘s what put Lithuania to one of the best places on the global FinTech map already now.

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