Company registration in Lithuania

Do you want to provide your business with the most favorable conditions for development? Register a company in Lithuania!

Currently, Lithuanian law allows registration of the following forms of business:

• Closed Joint-Stock Company. Currently, this form of business is the most common in Lithuania.
• Individual entrepreneurship. This form of doing business is also called “small business.” The registration procedure in most cases is identical to the opening of a closed joint-stock company. The only differences are in the tax features of individual entrepreneurs.
• Branch of a foreign company. Unlike the two previous forms of business, the registration of branches of a foreign company is a much more complicated procedure and requires more time to go through all the stages.

Registration procedure

To register a company in Lithuania, the applicant must undergo the following procedures in the strictly specified order:

• Preparation of documents for registration. The documents contain information with the name of the company, data on the management team and founders. Important! Documents must be drawn up in Lithuanian.
• Preparation of constituent documents. This package contains the memorandum and articles of association of the enterprise.
• Opening a savings account in a Lithuanian bank with a contribution to the authorized capital of a company registered in Lithuania. If necessary, the owner of the company has the right to reissue this account into a settlement account.
• A package of documents about the institution is transferred for notarization.
• After being certified by a notary, a package of documents must be submitted to the Registration Center. It is here that direct registration of the company is carried out.
• Re-issuance of an accumulative bank account into a current one.

In most cases, the registration of a company in Lithuania requires the personal participation and presence of the beneficiary (or his authorized representatives). But sometimes you can register a company online.

The minimum authorized capital is 2,500 euros. In this case, the remainder of the amount of the authorized capital may be contributed from the property. In this case, the value of the property contribution is determined by the appraiser who has the appropriate certificate.

The applicant has the right to transfer money for the authorized capital from foreign accounts.

List of requirements for senior management and shareholders of Lithuanian companies

The minimum allowed number of shareholders is 1 person. The maximum number is 250. There is no requirement for mandatory presence of Lithuanian citizenship.

Liquidation of a Lithuanian company

To make this decision, a general meeting of shareholders is required. The liquidation order of an insolvent enterprise is determined by the relevant law.

During the general meeting of shareholders, a liquidator is appointed. This official receives the duties and rights that the head of the enterprise has. The announcement of the liquidation of the company is published three times in the relevant sources. The interval between publications is 1 month.

In another case, the liquidator publishes the announcement once. But at the same time, mandatory notification of all creditors is required.

After a bankrupt company settled with all creditors, all remaining capital and property is distributed among all shareholders (the size of the shares is determined depending on the value of the securities that belong to each individual shareholder).

Confirmation of the absence of debts from a bankrupt company gives the tax service.

The specialists of our company will provide you with qualified assistance in registering or liquidating a Lithuanian company. For more advice, contact us at the contacts listed on the site.