Open a company in Lithuania

Why it is advantageous to open a company in Lithuania?

High confidence in the founders of the company. Affordable business start-up prices. Lithuania is a member of the European Union, it does not fall under the concept of “offshore”. Simple procedure for obtaining the VAT payer number. Freedom of statutory regulation of the structure and activities of firms. Possibility to register a company and open an account in one jurisdiction, in Lithuania. Open a company in Lithuania – 11th place in World Bank’s Business Simplicity Ranking. Low costs relatively low maintenance costs. VAT tariff of 0% for intra-EU trade. Small business income tax rate – 0/5. Entry to the European Market At Low Cost.

Requirements for shareholders and management

The number of shareholders can be from 1 to 250. Shareholders can be natural and legal persons, including non-residents of Lithuania. The head can become a natural person, including a non-resident of Lithuania. When registering UAB with the head of the employment contract. In this case, the permission to employ the manager is not required, but in Lithuanian legislation there are certain features of employment of the foreign director. The mandatory governing bodies of the Lithuanian company (UAB) are the General Meeting of Shareholders and the Manager. A supervisory board may also be established. Instead of a single head, there is a possibility to create a collegial body – a board headed by its head.

Opening a bank account

A savings bank account is opened for the contribution of the authorised capital, but after registration it must be converted into a settlement account. This requires the personal presence of the manager, as well as a presentation about the company’s activities and its relations with Lithuania. Opening dates depend on the specific situation and the company, but can take from two weeks to several months. It is also possible to open a bank account in other countries or not in banks, but in payment systems. We help our clients to pre-assess their chances and suggest opening an account in the most suitable institution.

Company registration process

The founder of the company will have to come to Lithuania twice. For the first time, the founder of the company will need to open a temporary bank account in the name of the company, deposit the authorized capital in this account and sign the registration documents that will be submitted to the Register of Lithuanian Enterprises. The second time, he’ll get the registration papers and activate the bank account.

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Necessary data for company registration in Lithuania

Come up with a company name, or choose from the existing ones. Information about the owner of the company (copy of passport and address). Information about the members of the company’s board (copy of passport and address). Legal address and pecific requirements for company registration.