We advised KogoPay in obtaining an electronic money institution licence in Lithuania. The company plans to expand its operations in Lithuania and the EU by offering customers electronic money services, including e-wallet services, express payments and QR payments, allowing customers to pay conveniently when shopping online, or offline in physical stores. Our services and team […]
Sorainen Belarus assisted the International Finance Corporation (IFC) with the extension to Belaruski Narodny Bank of a loan of up to USD 20 million. The loan is aimed to support the borrower’s working capital, as well as its trade-related lending programme for Belarusian businesses in direct response to the COVID-19 pandemic. USD 10 million of the […]
Virtual currency service providers will have to go through another licensing renewal process with the introduction of a new draft legislative act in Estonia. This time a year ago, virtual currency service providers were busy getting ready for a regulation which ended up causing the revocation of over 1,800 licenses. There are 396 existing licence […]
Sorainen Latvia advised Luminor on taking over a client portfolio in Latvia from Danske Bank’s branch in Lithuania. About the transaction Rūdolfs Eņģelis, head of the firm’s Finance & Insurance practice group, commented, “It is encouraging to observe that the number of complex transactions is gradually increasing in the Latvian financial market, thus confirming the […]
Publication / Monika Tomberg / Äripäev
Guidelines for evaluating the risks associated with money laundering have been completed and were published today. The process was initiated by FinanceEstonia, a financial sector representative organisation in Estonia. The specialist work group was led by our finance and insurance law senior associate Monika Tomberg. Focus on supporting companies The purpose of the guidelines is […]