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Company registration in Lithuania
- Price:2500 EUR
- Term:2-3 weeks
Lithuania is a European state, which is often used as a "bridge to Europe". Thanks to the open EU market, loyal tax rates and relatively inexpensive content, it is here that it is attractive to start a small and medium-sized business.
The jurisdiction has repeatedly occupied high ratings among countries: it was one of the five competitive OECD countries, ranked 15th as one of the freest economies in the world, and also 2nd as the most attractive place for investment and start-ups.
Popular areas for creating a business in Lithuania are: logistics and transport companies, Fintech and IT projects, ICO and blockchain, construction and industrial activities, obtaining EMI licenses for payment systems.
- KYC client identification
- registration procedures with one shareholder and one director
- payment of registration fee
- legal address services for 1 year
- opening of a savings account for depositing authorized capital
- preparation of a package of corporate documents in Lithuanian
- company seal (if necessary)
- draft of a power of attorney for remote opening of a company
- oral legal and tax consultations on the company for 1 year
- courier service (1 delivery)
- checking the company's compliance with all compliance and KYC criteria
- legal support of the company
- services of a legal address for a year
- legal and tax advice
Opening a business account for a company in the Payoneer or Emerald24 payment systems is a comprehensive service from our company. This service does not require additional payment, as we strive to ensure the most comfortable start of your company and emphasize the importance of our cooperation. You pay only bank fees in accordance with the requirements of the payment system, and we take full responsibility for communication with the payment system and collection of documents.
Please note that this offer is valid only if the company's activities comply with the specified payment systems (high and ultra-high risk are not included in the list of permitted activities).
- 1Lithuania does not have an offshore status and is an attractive country for starting a business
- 2Affordable prices for incorporation and maintenance of the company
- 3No language barrier in the country, many speak russian
- 4Opportunity to obtain a residence permit in Lithuania through investment in a company
- 5There are 6 Free Economic Zones with tax benefits in the jurisdiction
- 6For small firms, a corporate rate of 7% is offered
- 7Startups in the first year of activity do not pay income tax (subject to conditions)
- 8Opening a company in Lithuania is available remotely, by proxy
The Lithuanian tax system offers businesses a fairly loyal corporate tax rate in Europe - 17%.
Moreover, for small enterprises (turnover up to 300 000 EUR/year, number of employees up to 10), whose owners do not have participation in other structures, there is a 0% income tax benefit in the first year of operation, and from the second year - 7%.
Full or partial exemption from corporate tax can also be obtained by setting up a company in one of the Lithuanian Free Economic Zones. Investors who finance in companies in the FEZ receive benefits such as: 0% income tax for the first 10 years, the next 6 years the rate is 7,5%, exemption from property tax and dividends. To conduct activities in the FEZ, a permit (license) is required, and to receive benefits - investments from 1 million EUR or from 100 000 EUR, a workforce of 20 people and 75% of income must come from work inside the zone.
When investing in large investment projects, resident or non-resident companies can claim a zero corporate tax rate for 20 years. Established conditions: investments from 20 million euros (confirmed by an audit report), employed staff - from 150 people, field of activity - technology, production.
Obtaining a VAT number is mandatory if the company has an annual profit from the sale of goods over 45 000 EUR.
Foreign citizens can establish a private enterprise, a partnership (general or limited), a small community, a branch, a subsidiary, a limited liability company in Lithuania.
Most often, the registration of enterprises in Lithuania is implemented in the form of a limited liability company - UAB, which allows non-residents to hold the positions of a shareholder and director of a company.
Registration of an offshore company in Lithuania is not possible, since the country is not an offshore. For such tax purposes, Lithuanian Free Economic Zones and reduced corporate tax rates are used.
- Capital – the minimum amount is set at 1000 EUR. The amount must be deposited into the company's savings account prior to registration.
- Shareholder – at least one private or corporate person of any residency (except for sanctioned countries).
- Director - only a private person is appointed. The residence of the director can be any, except for the sanctioned countries. The position is compatible with the shareholder.
- Secretary - Appointment is optional.
- The register of beneficiaries is public, data on beneficial owners is publicly available.
- Available information - about the name of the company, legal address, size of the authorized capital, director, shareholder, beneficiary.
- Substance requirements - apply only to opening a local bank account (requires a business connection with Lithuania). An alternative is Lithuanian payment systems.
- Legal address - must be located in the territory of the country.
Resident and non-resident companies must document their financial activities, maintain and submit to the Center of the Register annual financial statements. Medium and large companies submit a full financial report, while an abbreviated reporting form is available for small enterprises.
Also, if a company meets two criteria from the list, it is required to undergo an audit:
- income over 3 500 000 EUR/year;
- the value of the assets exceeds 1 800 000 EUR;
- a staff of 50 people.
Thus, small companies that do not exceed these thresholds are exempted from preparing audited financial statements.
- 3 desired company names
- description of directions of work of the future company
- national and foreign passports of the director and shareholder
- confirmation of the director's registration address (eg utility bill)
- confirmation of the address of registration of the shareholder (for example, a utility bill receipt)
- email addresses of all shareholders and directors
- telephone and email for entry into the register