Recruitment Services for Fintech Companies in Lithuania

Why Fintech Recruitment Requires Specialist Support

Hiring for a licensed fintech company is not the same as hiring for a standard commercial business. Two factors make it materially different: the Bank of Lithuania’s fit-and-proper assessment of key function holders, and the specialist nature of the roles that a regulated entity needs to fill.

The Bank of Lithuania’s fit-and-proper requirements

Every person who holds a key function at a licensed Lithuanian fintech entity — directors, the compliance officer, the MLRO, the risk manager, and the internal auditor where required — is subject to a fitness and propriety assessment by the Bank of Lithuania. The regulator assesses whether the individual has the qualifications, experience, and reputation to perform the role at a regulated entity. Appointing a person who fails the fit-and-proper assessment is not possible — the Bank of Lithuania’s approval is a condition of taking up the role. Appointing someone without going through the assessment process is a regulatory breach.

This means recruitment for key functions is not simply finding the most qualified candidate — it is finding a qualified candidate who will pass the Bank of Lithuania’s suitability assessment. We know what the regulator looks for, what documentation needs to accompany a fit-and-proper notification, and how to prepare a candidate for the process. We build fit-and-proper readiness into the recruitment process from the first candidate screen.

The specialist nature of fintech roles

Compliance officers and MLROs at Bank of Lithuania-licensed entities need specific knowledge of PSD2, EMD2, MiCA, and Lithuanian AML law — not just general compliance experience. AML analysts need experience with the transaction monitoring typologies relevant to payment and crypto businesses specifically. Payment engineers need experience with SEPA, ISO 20022, and the specific technical infrastructure used by Lithuanian payment institutions. These are not roles that can be filled by someone with adjacent experience from an unrelated sector. We recruit from a network of Lithuanian and Baltic professionals with direct regulated-entity experience.

How Our Recruitment Process Works

Our recruitment process is structured to find qualified candidates quickly, prepare them for the Bank of Lithuania’s fit-and-proper requirements where applicable, and ensure they are legally onboarded correctly from their first day. The €2,000 fixed fee covers every step.

Fit-and-Proper Assessment: What It Means in Practice

For regulated roles at Bank of Lithuania-licensed entities, every appointment requires the regulator’s approval through a fit-and-proper assessment. Understanding what this process involves — and preparing candidates for it — is the part of fintech recruitment that most general recruitment agencies are not equipped to handle.

What the Bank of Lithuania assesses

• Professional qualifications and relevant experience — whether the candidate has the background to perform the specific role at a regulated entity
• Reputation and integrity — criminal record checks, regulatory history in other jurisdictions, and any prior involvement in regulated entities that faced enforcement action
• Financial standing — whether the candidate has any unresolved personal insolvency, significant outstanding debts, or financial matters that could compromise their independence
• Time availability — whether the candidate can commit sufficient time to the role given any other professional positions they hold
• Knowledge of the applicable regulatory framework — for compliance and MLRO roles specifically

The notification and approval process

Before a key function holder takes up their role at a licensed entity, the company must notify the Bank of Lithuania and submit a fit-and-proper assessment package for that individual. The package includes the candidate’s CV, references, a self-declaration form, a criminal record certificate, and supporting documentation for any regulatory roles held previously. The Bank of Lithuania reviews the package and either approves the appointment, requests additional information, or — in cases where a concern is identified — objects to the appointment.

We prepare the fit-and-proper notification package for every key function holder we place, advise the candidate on how to present their background, and manage the Bank of Lithuania correspondence throughout the assessment process. This is included in our recruitment service for regulated roles at no additional charge.

Common fit-and-proper issues and how we handle them

• Prior regulatory employment in another jurisdiction — we advise on how to document and present prior regulated-entity experience in the format the Bank of Lithuania expects
• Historical financial difficulties — disclosed upfront with context; undisclosed matters discovered during the Bank of Lithuania’s checks are a more serious concern than disclosed ones
• Concurrent directorships or employment — we assess whether the candidate’s other commitments are compatible with the time requirements of the role before presenting them
• Gaps in compliance experience — we identify candidates whose overall profile compensates for specific gaps and advise on supplementary training where needed

Post-Recruitment: Employment Onboarding

Placing a candidate is the beginning of the engagement, not the end. Once a hire is confirmed, the new employee needs to be correctly onboarded under Lithuanian employment law — with the right contract, correctly registered with SoDra, and set up on payroll before their first working day. We provide the complete employment onboarding package as a separate service from the recruitment fee.

Employment contract

Every Lithuanian employee must have a written employment contract before they begin work — not on their first day, but before it. For regulated roles, the contract must include specific provisions: the independence of the compliance function, the direct reporting line to senior management, IP assignment clauses, and a non-compete clause with the mandatory statutory compensation. We prepare employment contracts tailored to the specific role and compliant with the Lithuanian Labour Code. Contracts are prepared in English with a Lithuanian version where required.

Employer registration with SoDra

Before a company pays its first employee, it must register as an employer with the State Social Insurance Fund (SoDra). We handle the SoDra employer registration, which is required before the first payroll run and must be completed regardless of whether the employee is Lithuanian or foreign. SoDra registration is also required for director salaries — paying a director without SoDra registration is a compliance breach.

Payroll setup

Monthly payroll for a Lithuanian employee involves calculating gross-to-net salary, personal income tax (GPM) at 20–32% on the progressive scale, employee social contributions (19.5%), and employer contributions (1.77% + 3% health insurance). The monthly payroll declaration (GPM313) is filed with VMI and the SoDra employer declaration by the 15th of the following month. We set up the payroll framework and either process payroll on an ongoing basis or provide the setup for the company’s own payroll function.

Work permits for non-EU candidates

If the best candidate for a regulated role is a non-EU national, a work permit is required before they can legally work in Lithuania. The most common routes are the EU Blue Card (for highly qualified workers meeting salary and qualification thresholds) and the national work permit. We coordinate the work permit application in parallel with the recruitment process — so the candidate’s start date is not delayed by administrative process. We advise on which permit type is most appropriate and prepare the application package.

The Lithuanian Fintech Talent Market

Lithuania has developed a genuine fintech talent pool over the past decade — driven by the country’s position as the leading EU fintech licensing jurisdiction and the resulting growth of payment companies, EMIs, and crypto businesses based in Vilnius and Kaunas.

Compliance and regulatory professionals

Vilnius has a growing number of compliance professionals with direct Bank of Lithuania-regulated entity experience — compliance officers, MLROs, and AML analysts who have worked at established Lithuanian EMIs and PIs. This pool has grown significantly since 2016 as the number of licensed fintech companies increased. The availability of senior compliance professionals with 5+ years of Bank of Lithuania-regulated entity experience is limited but genuine, and candidates from this pool command salaries at the upper end of the range. For entry-to-mid level AML analyst roles, the pipeline is more accessible.

Technology and engineering talent

Lithuania has strong university-level technology education — Vilnius University, Kaunas University of Technology, and Vilnius Gediminas Technical University produce consistent pipelines of software engineers. The technology sector employs a significant proportion of the workforce in Vilnius, and there is an established subgroup of payment engineers who have worked on SEPA infrastructure, card processing systems, and open banking integrations at Lithuanian fintech companies and banks. Salary expectations are competitive but significantly below Western European equivalent roles.

Salary benchmarks — Vilnius market (gross monthly, 2025)

Recruitment Services Pricing

Our standard recruitment fee is €2,000 per hire — a fixed fee regardless of the salary level of the role. This covers the full process from job description to placement confirmation. Additional services — employment contracts, employer registration, payroll setup, and work permits — are available at the fees listed below.

Additional recruitment and onboarding services

Frequently Asked Questions