Allo' Expat Lithuania - Connecting Expats in Lithuania
Main Homepage
Allo' Expat Lithuania Logo


Subscribe to Allo' Expat Newsletter
 
Check our Rates
   Information Center lithuania
Lithuania General Information
Lithuania Expatriates Handbook
Lithuania and Foreign Government
Lithuania General Listings
Lithuania Useful Tips
Lithuania Education & Medical
Lithuania Travel & Tourism Info
Lithuania Lifestyle & Leisure
Lithuania Business Matters
 
Lithuania Business
Taxation in Lithuania
  Sponsored Links


Check our Rates

Doing Business in Lithuania
 
 
 

General

All business entities must register with the unified Register of Legal Persons (The Registrar), administered by the State Enterprise Centre of Registers. An application to register an entity must be accepted or rejected within five days.

A company acquires its legal personality on the date of registration.

Newly formed businesses of all types must also submit form FR0791 (“Statement of information concerning business registration/change in the taxpayers register”) to the local tax authority, which issues a taxpayer identification number.

Applications to register a company, and some of the required documents, have to be notarised. The notary is also responsible for verifying their contents, so far as that is possible.

Foreign enterprises are entitled to establish their subsidiaries in Lithuania as legal entities (public or private companies), or open branch offices or representative offices that are not legal entities. A public company needs a minimum authorised capital of LTL 150,000; the minimum for a private company is LTL 10,000. A private company must have no more than 250 shareholders.

Forms of Business Organisation

Private Limited Liability Company

A Private Limited Liability Company (Uzdaroji Akcine Bendrove – UAB) can have between one and 250 shareholders, whose liability is limited to the amount of their shareholdings. The minimum capital is LTL10,000 (€2,896), of which 25% must be paid up.

There is no requirement for a board of directors, or a supervisory council. Annual audits are required if turnover exceeds €1.4 million.

• Documents needing to be filed with the Registrar include:
• an application to register;
• the Certificate of Incorporation;
• the Incorporation Agreement (Statutes);
• any licences that are required for the business to be undertaken;
• attestation to the payment of the registration fee;
• evidence of the opening of a bank account;
• minutes of the shareholders' founding meeting.


See more information on the next page... (next)


 
 

   



 


copyrights © AlloExpat.com
2015 | Policy