Company in Lithuania

Company registration in Lithuania

Lithuania is a prestigious European jurisdiction, which is very favourable for non-residents to do business. The Baltic country has some of the lowest taxes among European countries. Lithuania is not offshore, but it is an attractive investment destination. The country has strict laws. Therefore, when registering a business, it is necessary to strictly comply with all applicable laws and regulations, in particular tax legislation.

Official language

Lithuanian

Capital

Vilnius

Largest cities

Kaunas, Klaipeda, Siauliai

Form of government

Constitutional presidential-parliamentary republic

Legal system

Baltic (Romano-Germanic family)

Currency

Euro

Organizational and legal forms of companies

1. Open Joint Stock Limited Liability Company
2. Closed JSC with limited liability.
3. Limited and unlimited partnerships.
4. Small society.

CJSCs and small companies are the most popular.

What is included in the price

The price of Crystal Tax legal services is calculated on an individual basis and includes:

• consultations of specialists in corporate law and taxes;
• issuing a power of attorney;
• notary, translator services, apostille of documents;
• lease of a legal address;
• payment of registration fees;
• registration of the company in the Lithuanian register of enterprises;
• VAT number registration

Legal and accounting support for an already operating business is possible by agreement.

Documents provided after registration

1. Memorandum of Association.
2. Charter
3. Extract from the commercial register.

Working algorithm

1. By prior arrangement, our specialist conducts a consultation at the Crystal Tax office in Kyiv or by phone, answers your questions.
2. Select the name of the company, legal form.
3. You pay for lawyers.
4. Choose a bank, open an account.
5. We prepare a package of documents, certify them with a notary.
6. We pay duties.
7. Register the company in the registry.

You can buy a ready-made company from us or register a business from scratch.

Principles of jurisdiction

1. Low income tax (the amount of income tax – 5% or 15%), there are free economic zones where you can enjoy tax benefits.
2. The possibility of obtaining a residence permit.
3. Local authorities are loyal to foreign entrepreneurs, the procedure for starting a business is simple and transparent.
4. Availability to trade with European countries.
5. Stability of the economy.

Disadvantages of jurisdiction

1. Annual filing required.
2. Tax benefits may not always be available.

List of banks in jurisdiction

1. The main bank of Lithuania.
2. Swedbank.
3. UAB Medicinos bankas.
4. Bank Finasta.
5. Vilnius Bank.

Company Requirements

Minimum authorized capital for opening a commercial organization – 2500 euros, for joint-stock company – 25 thousand euros. Also, non-residents need to register a legal address in the country and have a contact person in Lithuania.

Both individuals and legal entities can open a company. Shareholder and director can be one person.

Corporate law

• Investment Law;
• Tax Administration Law

Tax Information Agreements

Lithuania is not in the "black" lists of offshore companies neither in Ukraine, nor in Europe, nor in other countries. The country has signed the BEPS plan, the MCAA convention. The governments of Ukraine and Lithuania have concluded an agreement on the avoidance of double taxation, which contains a clause on the exchange of information.