Sorainen advised TeslaPay on establishing a company in Lithuania and obtaining an e-money institution licence from the Bank of Lithuania.

TeslaPay’s mission is to provide smoother, faster and cheaper international payment services in regions where the electronic money and payment market is of great future potential. TeslaPay belongs to the Estonian ‘TopCredit’ group of companies providing financial services to companies and private individuals across the Baltic States and Europe. TeslaPay is planning to open electronic money accounts, facilitate payment transactions via the SEPA payment system, issue payment instruments and provide other services.

Sorainen provided legal advice on company establishment, as well as all matters related to applying for an electronic money institution licence and representing the company at the Bank of Lithuania.

The Sorainen team included partner Tomas Kontautas and associate Urtë Armonaitë. Sorainen advised the client in cooperation with Murula Law Firm.