Register company in Lithuania

What company registration in Lithuania is the most suitable?

Lithuania company registration allows business people to enter the European market and successfully develop their businesses. It is possible due to various advantages of the state: some of the lowest corporate taxes in Europe, a stable market economy, and a loyal banking system.

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Why is it beneficial to register a company in Lithuania?

Business people are interested in company formation in Lithuania for several reasons:

  • The company allows you to enter the EU market, thereby increasing the number of customers.
  • A modern and well-developed infrastructure.
  • Trade within the European Union is conducted without any customs barriers.
  • There is no need to be in Lithuania to effectively manage the company.
  • No currency control in the country.
  • A minimum number of tax inspections.

Starting a business in Lithuania: What form of business to choose

There are several types of business in Lithuania, but the most common is a closed joint-stock company (UAB). This form of business is of interest to business people because the UAB shareholders are not personally liable for the company's obligations.

If you are interested in company registration in Lithuania, the price of this procedure depends on the chosen form of business because notarial attestations, additional documents, and other information may be required.

In addition to UAB, the following forms of business exist:

  • Open company with limited liability
  • Branch
  • General partnership
  • Limited Liability Partnership
  • Limited Partnership

If you have decided to start business in Lithuania, the price of the service will also depend on the opening of a bank account if this procedure is handled by our specialists.

Opening a company in Lithuania: conditions for opening UAB

When registering a closed joint-stock company, the authorized capital must be at least 2,500 EUR. It can be formed within 12 months of the company's establishment. At the same time, it is not forbidden to use the authorized capital for payment of current expenses, such as taxes or office rent.

Business registration in Lithuania requires an annual meeting of shareholders. This requirement is enshrined in law. It must be held within four months after the end of the accounting period.

Lithuania company registration: Taxation of legal entities

If business people register a company in Lithuania with the legal form of UAB, they must pay the following taxes:

  • On dividends. All distributed dividends between resident companies are taxed at a rate of 15%. A 0% rate applies if the firm pays dividends to another EEA-registered entity that owns at least 10% of the subsidiary's shares for one year.
  • VAT. Charged at the standard rate of 21%. In some cases, preferential rates of 9% (books, real estate, passenger transportation on regular routes) and 5% (medical goods, pharmaceuticals) apply.
  • Corporate tax. The standard rate is 15%, but there is also a preferential rate of 5%. It applies if the company's turnover is not more than 300,000 EUR.

Company registration in Lithuania: The cost of doing business and what it depends on

If you are interested in company formation in Lithuania, the cost of opening your own business will depend on several factors. For example, if you decide to do business in a specific field, you will have to obtain relevant licenses.

As a rule, licensing is needed for:

  • Tourism
  • Restaurant business
  • Production and sale of alcohol
  • Radio broadcasting
  • The sale of antiques
  • Gambling, investment, pharmaceutical, and construction business

Lithuania company registration requires preparing at least the following documents:

  • Package of constituent documents
  • Your passport and its copies
  • Proof of actual residence address (for example, a utility bill)

Remember that if you are interested in company formation in Lithuania, the registration procedure cost may also depend on additional documents required for starting a business in Lithuania. You will have to pay for their preparation in case our specialists deal with this process.

Contact us if you want to register a company in Lithuania. Our specialists provide a full range of consulting and legal services, so you can open company in Lithuania avoiding unnecessary bureaucratic formalities.

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