Get consultation

Send us a request and we will contact you as soon as possible.

Connection with the CENTROlink System of the Bank of Lithuanian Jurisdiction

Published:
December 10, 2021
portrait business man woman sitting office discussing contract 23 2147923310.jpg

CENTROlink is a transaction system controlled and implemented by the Bank of Lithuania and provides access to the Single Euro Payments Area (SEPA). Through its own infrastructure, the Bank of Lithuania provides technical access to SEPA for all types of payment service providers – banks, credit unions, electronic money or payment institutions that are licensed in the European Economic Area (EEA). CENTROlink system connection is a chance to get access to additional opportunities.

Main Stages of Connection with CENTROlink System of the Bank of Lithuania

  1. Full assessment of the payment service provider and identification of risks (Due Diligence). You will need to fill out a questionnaire and send it along with other required documents to the Bank of Lithuania. The application form and the list of required documents are provided separately.
  2. Non-disclosure agreement (NDA) and access to technical documents. If, after evaluating the received data, it is revealed that the payment service provider meets the requirements specified by the Bank of Lithuania, a signed NDA will be prepared and submitted. Signing an NDA does not guarantee a connection to CENTROlink. After the NDA has been signed, technical documentation on the requirements and functions of CENTROlink is provided.
  3. Application for BIC code from SWIFT. Provides information on obtaining a SWIFT/BIC code.
  4. Application for joining CENTROlink and issuing a financial company code for IBAN accounts. An application for connection to the payment system will be prepared and sent. Financial company codes can only be applied to financial institutions that are licensed in Lithuania.
  5. Registration with the European Payments Council (EPC). Mandatory registration with the EPC is required. For more information, contact the Bank of Lithuania.
  6. A Certification Agreement will be prepared and sent. Once signed, you will receive personal certificates to access CENTROlink.
  7. Registration in the test environment of external payment systems. Depending on the SEPA payment scheme you have defined, the Bank of Lithuania will register you in test zones of external systems (STEP2, RT1, etc.).
  8. Testing in CENTROlink and external payment systems. Within the agreed time frame, you will need to pass an important test, which is installed by the Bank of Lithuania in CENTROlink, as well as in external payment systems, respectively, with the SEPA payment scheme you have chosen. After testing, you will need to provide a test report of the prescribed form.
  9. Agreement with the Bank of Lithuania. You will need to fill out a registration form and provide an opinion of legal capacity issued by third-party lawyers and, if you are outside the EEA, an opinion about your country. You do not need to provide a country opinion if at that time the Bank of Lithuania already has an active legal opinion. An agreement for participation in CENTROlink will be prepared and sent for signing.

Registration in external payment systems STEP2, RT1, etc. is carried out within the timeframe established by the respective payment systems.

ELI DEAL has a large list of offers for sale, in particular, in the category “Banking License“. We reccomend you to pay your attention to the recent businesses in thi field:

Our specialists will provide you with full assistance. Conact us anytime.

Related insights

Puerto Rico IFE/IBE Update & Overview

Puerto Rico is one of the few US regions that offers an organized offshore banking structure with meaningful tax incentives. There are two routes available IFE and IBE. They give access to a 4 % tax rate and dividend exemptions for owners from abroad. Nevertheless, these two permits are created for diverse purposes and are…

Read more 16.09.2025

St. Kitts and Nevis: Your Premier Tax Haven in 2025

Nowadays, St. Kitts and Nevis is considered one of the most appealing places for protection of belongings and wealth structuring. The governmental body continues to maintain a low-regulation monetary environment and a steady regulatory climate for businesses for sale. Over the past ten years, it has quietly become a popular place for international companies to…

Read more 16.09.2025

Top 10 countries for registering a crypto business 2025

By 2025, the launch and scale-up of a blockchain-driven venture would encounter a fragmented international framework, varied legal environments, and tough competitions for market share. A crypto business for sale or long-term operation is much more valuable when established in a jurisdiction harmonising tax treatment, operational clarity, and access to the fiscal system. The review…

Read more 16.09.2025

Buying Real Estate with Cryptocurrency: How and Where to Do It in 2025

Over the last decade, cryptocurrency has grown from a fringe digital experiment to an accepted global financial instrument. By 2025, there is hardly going to be anything weird about buying real-estate with crypto; in fact, it is increasingly legitimate and much-sought-after as a way to buy property—whether a posh penthouse in Dubai or a suburban…

Read more 25.08.2025

A Comprehensive Guide to the 10 Most Popular Gambling Licenses in 2025

As online gambling grows increasingly entrenched everywhere, the question of jurisdiction for becoming licensed has come to play a pivotal role in the view of many entrepreneurs and operators. The regulatory environment, tax system, and speed of application – all play an enormous role in profitability, not just legal compliance. In this guide for 2025,…

Read more 25.08.2025

Top 7 Countries to Buy Real Estate with Crypto

Not long ago, the very idea of purchasing a home with Bitcoin or other cryptos sounded like a crazy idea. Nevertheless, gradually, the real estate market keeps adapting to the cryptocurrency revolution. Today, in some areas, developers, agents, and even governments welcome crypto payments. Needless to say, it gives new possibilities for buyers. They can…

Read more 25.08.2025

Top 5 EU Jurisdictions for Obtaining an EMI License in 2025

In 2025, war will break out among the European nations to determine which is best placed to house the largest cluster of other innovative fintech companies. Important permissions to look out for include issuance of cards, provision of IBAN accounts, execution of electronic payments, and the full spectrum of digital financial services. The right jurisdiction…

Read more 18.08.2025

Benefits of St Kitts and Nevis Tax Residence

When it comes to finding a tax-friendly and cozy place for your undertaking, St Kitts and Nevis could be the perfect place. The place is very popular with international firms, remote employees, not to mention high-net-worth persons. The given twin-island Caribbean state boasts a reputation of a business-savvy jurisdiction with one of the most attractive…

Read more 17.08.2025

The Top 10 Crypto-Friendly Countries (2025)

The online asset sector is now growing afresh after its recent slump, with a catalytic effect of the surge of investor interest, greater trading volumes, and more robust institutional participation. On top of that, a number of jurisdictions have by now established themselves as key hubs for this activity. They contribute stable supervision, coherent operational…

Read more 17.08.2025

Buying or Starting a Company in Hong Kong: A Practical Guide for International Founders

Hong-Kong stands tall and proud among the cities of the world—majorly attracting foreign entrepreneurs looking to penetrate the Asian business landscape. It boasts low taxation rates and holds a strategic position. With an open economy that permits two ways in particular: setting up a company from scratch or buying into an existing one. Why Hong…

Read more 13.08.2025

Banks in St Kitts and Nevis: Ultimate Guide in 2025

St. Kitts and Nevis is a stable twin-island nation in the Caribbean. It offers a secure and private environment for banking. This makes it attractive for international investors and businesses. The country’s financial system is well-regulated and modern. It provides excellent opportunities for wealth management and asset protection. For those looking to enter this market…

Read more 13.08.2025

Best Countries & Jurisdictions for Online Gambling License Acquisition Process

Picking the perfect jurisdiction in which to gain a license to operate in the iGaming sector is crucial, not only for speed-to-market but also for the reputation of your brand. Every country/territory has a respective framework, costs, and conditions to operate, so choosing the right one is important for long-term success. Example: the jurisdiction plays…

Read more 13.08.2025
Prev
Next
Discover All News