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Company formation in Lithuania
Comprehensive assistance in company formation, including banking services
How to form a company in Lithuania
1
Document submission
You submit to us necessary documents of the future founders and directors for the purposes of company formation in Lithuania and opening a bank account in Lithuania
2
Payment of services
Payment of our services for company formation in Lithuania and/or bank account assistance in Lithuania
3
Company formation
We register a new company in Lithuania for you. Upon completion of the registraion corporate documents are either delivered to you or submitted to a bank for the subsequent opening of a bank account
4
Bank account opening
In case you request an assistance with a bank account, we arrange an interview at the bank for you, inform you about the date of the visit and accompany you on your way to the bank. After the bank account is opened and active you receive corporate documents of the formed company as well as the access to the bank account
Key aspects to consider prior to forming a company in Lithuania
Corporate income tax rate 5% if annual turnover does not exceed EUR 300,000.
1. Founders of a company in Lithuania can either be resident or non-resident in Lithuania. Founders can be either individuals or legal entities.
2. A resident or a non-resident individual can be a director in Lithuania. It is not required to register a company in Lithuania with a resident individual as one of its shareholders or directors.
3. One individual can be simultaneously a shareholder and a director in a Lithuanian company if such company is registered as a UAB (a limited liability company).
4. There is no requirement for creating substance in Lithuania - no need to hire local employees or rent an office in order to establish a company in Lithuania or to conduct business in Lithuania, however, substance is required in order to receive a VAT-number for a company in Lithuania.
We offer ready-made companies in Lithuania with an active VAT-number in order to eliminate additional costs that concern office renting or hiring of employees in Lithuania.
5. Minimum capital requirement in Lithuania for a UAB (a limited liability company) is EUR 2,500.
6. Information about company founders, shareholders and directors after a company is registered in Lithuania is publicly available in the state corporate register.
7. We can help you register a company in Lithuania remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Vilnius for 1 day in order to open a corporate bank account.
2. A resident or a non-resident individual can be a director in Lithuania. It is not required to register a company in Lithuania with a resident individual as one of its shareholders or directors.
3. One individual can be simultaneously a shareholder and a director in a Lithuanian company if such company is registered as a UAB (a limited liability company).
4. There is no requirement for creating substance in Lithuania - no need to hire local employees or rent an office in order to establish a company in Lithuania or to conduct business in Lithuania, however, substance is required in order to receive a VAT-number for a company in Lithuania.
We offer ready-made companies in Lithuania with an active VAT-number in order to eliminate additional costs that concern office renting or hiring of employees in Lithuania.
5. Minimum capital requirement in Lithuania for a UAB (a limited liability company) is EUR 2,500.
6. Information about company founders, shareholders and directors after a company is registered in Lithuania is publicly available in the state corporate register.
7. We can help you register a company in Lithuania remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Vilnius for 1 day in order to open a corporate bank account.
Cost of services
Formation of a UAB
Timeframe - 7 business days
Timeframe - 7 business days
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Advantages of forming a company in Lithuania
Attractive business-environment
- Close to major European markets
- Highly-developed infrastructure
- Open economy, no trading restrictions
- Establishment of a low cost logistics business is available
- Low inflation rate
Stability and security
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
Tax benefits
- Corporate income tax rate 5% if annual turnover does not exceed EUR 300,000
- Multiple double tax treaties
No foreign exchange controls
- Lithuania joined the Euro area, which allows it to secure free capital transfer in any currency. Individuals and business-entities, either resident or non-resident in Lithuania may open bank accounts in Lithuanian banks in any currency
Ease of establishing and doing business
- 100% foreign ownership of a company is available
- Fast company formation in Lithuania
- Remote company formation in Lithuania is available
More about Lithuania
Lithuania is located in Eastern Europe, its territory amounts to 65,300 square kilometers. Lithuania borders Russia, Belarus, Poland and Latvia and has access to the Baltic Sea, which allows it to establish maritime trade with Russia, Baltic States and Scandinavian states, as well as with Poland, Germany and a few other Western European states.
Population of Lithuania currently amounts to around 2.7 million people.
Population of Lithuania currently amounts to around 2.7 million people.
Official currency of Lithuania is euro (EUR).
Lithuania's GDP in 2017-2018 grew by 4,8% and amounted to USD 53.25 billion.
Lithuania has a well-developed economy, the largest part of which is private business. Lithuanian economy is focused on production and service sector, including food industry, chemical industry, production of gasoline, IT, financial services, logistics, construcion, R&D and travel business.
Lithuania's GDP in 2017-2018 grew by 4,8% and amounted to USD 53.25 billion.
Lithuania has a well-developed economy, the largest part of which is private business. Lithuanian economy is focused on production and service sector, including food industry, chemical industry, production of gasoline, IT, financial services, logistics, construcion, R&D and travel business.
Foreign investors establish business in this jurisdiction for trading, logistics.
Restricted for foreign entrepreneurs are the following sectors:
Restricted for foreign entrepreneurs are the following sectors:
- defense industry
- telecommunications
- television, radio
- postal services
- air transport.
- Corporate income tax - 5% if annual turnover does not exceed EUR 300,000, during the first year of operation the tax rate is 0% if annual turnover does not exceed EUR 300,000. Otherwise the standard tax rate is 15%. Tax returns are filed on an annual basis. Advance income tax payments are made on a quarterly basis
- Dividend withholding tax - 0% under certain conditions
- Interest withholding tax - 0% under certain conditions
- Royalties withholding tax - 0% under certain conditions
- Capital gains tax - Standard tax rate 15%
- VAT - Standard tax rate 21% or reduced rates from 0% up to 9%, or tax exempt. Tax returns are filed on a monthly, a quarterly or an annual basis
- Personal income tax - from 15% up to 32%.
Apart from such traditional business entity types as a limited liability company (Uždaroji Akcinė Bendrovė - UAB) and a public limited company (Akcinė Bendrovė - AB), Lithuanian corporate law offers to establish a business as:
1. General partnership (Tikroji Ùkine Bendrija - TUB)
2. Limited partnership (Komanditiné Ùkine Bendrija - KUB)
3. Small Partnership (Mažoji Bendrija - MB)
4. Sole proprietor (Individuali Įmonė - IĮ)
5. Branch (Filialas)
To receive a detailed description of the company formation procedure in Lithuania and information about documents necessary for company formation in Lithuania please contact our experts.
1. General partnership (Tikroji Ùkine Bendrija - TUB)
2. Limited partnership (Komanditiné Ùkine Bendrija - KUB)
3. Small Partnership (Mažoji Bendrija - MB)
4. Sole proprietor (Individuali Įmonė - IĮ)
5. Branch (Filialas)
To receive a detailed description of the company formation procedure in Lithuania and information about documents necessary for company formation in Lithuania please contact our experts.
Send a request for company formation in Lithuania
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Phone: +44 20 8157 4037
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128 City Road,
London, EC1V 2NX
Phone: +44 20 8157 4037
Email: request@pil-services.com
