Since the Brexit decision , Lithuania has been positioning itself as a financial haven by speeding up the process by which foreign firms can enter the country and receive online payment permits . Foreign companies looking to enter Lithuania can do so two to three times quicker than if they applied to a rival country. The Lithuanian central bank has accelerated its licence approval processes so that online payment permits can be received by prospective foreign fintechs in three months and full banking licences in just six months , making the process several times quicker than in rival nations . Lithuania has reportedly granted 18 operating licences to foreign fintechs in 2017 alone , including one to UK - based Revolut , with an additional 16 under review .
Since the Brexit decision , Lithuania has been positioning itself as a financial haven by speeding up the process by which foreign firms can enter the country and receive online payment permits . The Lithuanian central bank has accelerated its licence approval processes so that online payment permits can be received by prospective foreign fintechs in three months and full banking licences in just six months , making the process several times quicker than in rival nations . Lithuania has reportedly granted 18 operating licences to foreign fintechs in 2017 alone , including one to UK - based Revolut , with an additional 16 under review .