Omer regev
28/03/2017
Bank of Lithuania, Invest Lithuania and Go Vilnius, the development agency of the City of Vilnius are launching the Start-up Visa program to encourage Israeli fintech companies to use the Baltic nation as a gateway for European expansion. The launch takes place at Barclays Rise in Tel Aviv on 3 April at 6:30pm. Details for the event and speakers are included below.
Israeli fintech companies that want to start trading in Europe face challenging regulatory hurdles before they can open. As the UK ‘Brexit’ from the EU threatens the guarantee that UK banking license holders can automatically passport their right to trade in the rest of Europe, the process is likely to become more complex in the year ahead.
Lithuania is one of a small club of EU countries offering Start-up Visas for start-ups and talent from outside the EU, opening the door to Europe and broader Western markets. As part of the programme eligible companies will get their processing and e-money license applications processed within 3 months – faster than anywhere else in Europe. In Luxembourg the process takes up to 3 times longer.
Speaking at the event on 3 April with Bank of Lithuania, successful Israeli and UK fintechs Moneta, Simplex, Revolut and Contis will talk about how they are already using the country as a base for Europe-wide operations.
Why Lithuania? The country is already recognised for its depth of tech talent and a well-established startup ecosystem. Global bank Barclays opened a sister branch of its Rise TLV accelerator programme in Vilnius and Wix.com has a successful development facility in operation since 2013. Germany’s Wirecard is recommending Lithuania as a base to its fintech partners.
Come and meet us - Barclays Rise TLV, 3 April
To highlight the business opportunities on offer in Lithuania, we are inviting entrepreneurs and representatives of media to join us for Destination EU 2017 on 3 April at Barclays Rise in Tel Aviv at 6:30pm to hear the experience of Israeli fintechs in Lithuania and share their insights on what the country offers startups and investors from Israel. Event and registration details can be found on the link below.
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