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VirtuaBroker

VirtuaBroker

Last Update: 19.01.2026

Client: VirtuaBroker
Partnership Duration: 2023 – Present
Services Provided: Jurisdiction analysis, Lithuania VASP licensing, corporate setup, AML/KYC documentation, HR (local AML officer), banking solutions, ongoing regulatory maintenance, and adaptation to new 2024 AML requirements.

Overview

VirtuaBroker is a UK-origin financial technology and digital asset company providing a range of crypto and payment services worldwide.
In 2023, the company approached us with a clear strategic objective:
to enter the EU market and expand its existing payment offerings by adding regulated crypto exchange and custody services.

To achieve this, VirtuaBroker required a compliant, efficient, and scalable licensing framework. After a detailed comparative analysis of all major EU VASP regimes—Poland, Czech Republic, and Lithuania—we jointly selected Lithuania, thanks to its optimal balance of licensing timelines, regulatory clarity, and operational flexibility.

Today, VirtuaBroker operates fully legally in the EU under a Lithuanian VASP registration and continues expanding its global regulatory footprint with our support.

Our Contribution

Before initiating any formal processes, we conducted:

A full business model assessment;
Comparative analysis of VASP regulations across Poland, Czech Republic, and Lithuania;
Evaluation of timelines, AML requirements, substance obligations, and corporate structuring needs;
Final strategic recommendation: Lithuania as the primary jurisdiction for EU expansion.

This analysis strategically positioned VirtuaBroker for fast and compliant EU market entry.

Lithuania became the cornerstone of VirtuaBroker’s EU presence. Our team provided a complete end-to-end solution, covering corporate, regulatory, HR, and banking elements.

Scope of Work

Corporate Setup

Incorporation of the Lithuanian entity;
Assistance with share capital contribution;
Provision of a local legal registered address;
Preparation of full corporate documentation, including:
- Apostilled corporate documents;
- Notarized English translations.

Compliance & Licensing

Drafting of tailored AML/KYC policies based on VirtuaBroker’s business model;
Preparation of all internal controls required by FCIS (FNTT);
Submission and approval of the VASP registration;
Provision of legal address documentation for the licensing authority.

HR & Governance

Identification, vetting, and selection of a local experienced AML Officer;
Drafting and execution of a direct employment agreement;
Integration of the AML Officer into VirtuaBroker’s operational structure.

Banking Support

Analysis of the client’s banking needs (crypto-friendly, multi-currency, SEPA, etc.);
Selection of the optimal banking/EMI solution;
Assistance with corporate account opening.

As part of our long-term cooperation, we have also:

Initiated the process of obtaining a Canadian MSB license to further broaden VirtuaBroker’s global regulatory coverage.
Developed a multi-jurisdictional approach to support their continuous service expansion and cross-border operations.

Ongoing Support & Regulatory Maintenance

VirtuaBroker continues to rely on us for:

Full regulatory maintenance of the Lithuanian entity;
Monitoring of regulatory updates and compliance obligations;
Support and coordination with the local AML officer;
Timely guidance on required filings and operational adjustments.

When Lithuania introduced new and significantly stricter AML requirements for VASPs—including:

Increase of minimum share capital to €125,000;
New accounting and reporting obligations (balance sheet, P&L submissions);

—we ensured VirtuaBroker was fully compliant prior to the deadline.
We prepared all necessary documents, executed capital increase procedures, and helped the company adapt its corporate and accounting framework, ensuring uninterrupted operations.

Adaptation to New 2024 AML Regulations (Effective August 1, 2024)

We continue to support Onus Finance in El Salvador and the EU with comprehensive ongoing services:

Timeline

Once all necessary documents are collected, we conduct a full case analysis and submit the renewal package to FINTRAC within 5–10 business days.

Results

Through a structured and collaborative process, VirtuaBroker achieved significant milestones:

Successful acquisition of the Lithuanian VASP registration

Full compliance with new 2024 Lithuanian AML rules

Ongoing regulatory maintenance ensuring continued good standing

Incorporation of a fully compliant Lithuanian entity

Capital increase and accounting restructuring in line with updated regulations

Appointment of a high-quality local AML Officer.

Establishment of SEPA-compatible banking infrastructure.

Entry into the EU market as a regulated crypto service provider.

Ability to legally offer crypto exchange and custody services.

Expanded service portfolio for clients.

Strengthened global expansion with the launch of the Canadian MSB licensing process.

Continuous cooperation across multiple regulatory fronts.

Full operational, compliance, and strategic support maintained since 2023.

VirtuaBroker now operates as a fully regulated EU crypto service provider, equipped with a robust compliance foundation and an expanding international licensing portfolio.