Company registration in Lithuania

Lithuania, officially known as the Republic of Lithuania, is a compact European state situated among the Baltic countries. This state is a member of the European Union. Lithuania actively seeks to attract foreign capital, benefiting from a stable economic climate and a favourable business environment.

The Lithuanian economy is widely acknowledged as both developed and stable. It thrives in key industrial sectors, including oil refining, radio electronics production, shipbuilding, food production, and mechanical engineering. Additionally, the service sector, along with IT and the financial industry, demonstrates significant development. The country boasts a sizable international seaport, complemented by well-established road and rail transport networks.

ADVANTAGES OF REGISTERING A COMPANY IN LITHUANIA

One of the most significant benefits of choosing this jurisdiction is the swift access to the European Union markets. Alongside this, other advantages of registering a company in Lithuania encompass:

Economic stability.
Favourable Taxation (with a corporate tax rate set at a competitive 15%).
Well-developed infrastructure and business-friendly environment.
Attractive conditions for aspiring entrepreneurs and startups.
Streamlined company registration process.
Legislative transparency.
Availability of Double Taxation Agreements with more than 40 countries.

AVAILABLE TYPES OF BUSINESS ORGANISATION IN LITHUANIA

Lithuanian legislation offers flexibility in registering enterprises with various organisational and legal structures. Particularly appealing to foreign investors are:

AB — a public limited company. Can be established with a minimum of one shareholder (with no maximum limit), requiring a minimum authorised capital of 43,500 euros, of which 25% must be paid before registration. Management is conducted by a board of directors.
UAB — a closed joint stock company with limited liability. Formation requires only one person, and the number of shareholders cannot exceed 250. The minimum authorised capital is 2,900 euros, with 25% of this amount required at the time of registration.
TUB or KUB — full or limited partnership. These structures necessitate a minimum of two partners, with a maximum limit of 20 participants.

For existing companies seeking entry into the Lithuanian market, there is also the option to register a branch or representative office.

FEATURES OF COMPANY REGISTRATION IN LITHUANIA

It is necessary to provide a document package, including the founders’ passport details, a thorough business plan, the charter, and other relevant materials to register a company. All documentation must be translated into Lithuanian and authenticated by a local notary. Additionally, a local bank account and a legal address within the territory of Lithuania are required. For those intending to engage in regulated activities such as financial, insurance, or medical services, an application for a corresponding licence is mandatory.

Any business in Lithuania can be fully owned by a foreign investor. Remote company registration is available in the country. Enterprises operating in Lithuania that generate profits exceeding 29,000 euros in the year following registration are required to obtain a VAT number.

Assuming the document package is thoroughly prepared, the company registration process in Lithuania can be completed in just one week. To streamline this procedure, we recommend leveraging the expertise of qualified COREDO specialists, who bring extensive experience in this field.

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