Lithuania:

LT - Who needs to register a business?

LT - Who needs to register a business?

Everyone who is willing to make business in Lithuania, needs to register its business.

LT - Types of legal entities

LT - Types of legal entities

For information on the types of legal entities you may visit the following website:

Centre of Registers

LT - Legal basis

LT - Legal basis

Most information is only available in Lithuanian. For legal forms of legal entities please therefore have a look on the Your Europe website:

Your Europe - legal entities in Lithuania

There you will also find information about legal requirements.

 

 

LT - Responsible authority

LT - Responsible authority

The State Enterprise Centre of Registers is the Register management establishment (Manager of the Register) that ensures the implementation of Register management functions in registering the legal entities.

Public services of the Register of Legal Entities

LT - Process flow

LT - Process flow

  1. Select a company name. It is important to know that it cannot match the other company name or trademark (already existing corporate names, you can check at the Centre of Registers). After selecting the desired company name, you can contact the Register of Legal Entities with a request to reserve a name for 6 months. This means that this time no one else can register the company with the same name, in addition, you will be assured that the company name is available.
  2. Prepare the founding documents, ie: the Treaty, the Articles of Association and the constituent meeting protocol. Further information on which documents are needed can be found under "Requested documents".
  3. Form a company's share capital. For this you need to open a company bank account and deposit it at least 10.000 LT (2.896,2 €).
  4. Provide documentation for establishment to a notary:
    • the bank statement of the company formed by the authorized capital;
    • the address of registered company office with the consent of the owner of the premises for company establishment.
  5. Submit notarized documents to the Register of Legal Entities. The company is registered no later than 3 working days after submission.

A company may also be established via Internet, if all the following conditions are fullfilled:

  • use of standard founding documents;
  • share capital formed in money only;
  • premises where the company will be registered are not arrested;
  • company name is reserved;
  • company name not intended to use the short name "Lietuva";
  • the promoter has a qualified electronic signature.

It is also possible to set-up a sole proprietorship (II), public bodies and associations via Internet.

 

LT - Link to online service / legal form

LT - Link to online service / legal form

Documents and data shall be submitted to the Centre of Registers. The documents vary by the type of legal entity. All necessary forms can be downloaded from the following website:

Register of Legal Entities

So far, virtual foundation and registration of legal entities via Internet is available for citizens of Lithuania but Centre of Registers strives hard to implement equal possibilities for foreign investors. Until then the E-Guide for starting business in Lithuania is provided for foreign clients which should help to cope with the procedures of founding and registration.

LT - Charges

LT - Charges

The fees for company registration are as follows:

Company name reservation - 56 Lt (16 €);
Company Registration - 198 Lt (57 €); 
Notary fee - about 350Lt; (100 €).

The fees may also vary by the type of legal entity to be registered.

LT - Deadlines

LT - Deadlines

Upon receiving the documents indicated, it will take about 5 to 10 days to register the business at the Centre of Registers.

LT - Related processes & information

LT - Related processes & information

Following some information about taxes in Lithuania:

  • VAT – 21 %
  • Social security contributions paid by the employer (the employer's social security tax 3% + health insurance fee of 6%) - 30.98%
  • Income tax - 15%
  • Personal Income Tax (PIT) - 15%
  • Annual corporate real estate tax - 0.3 to 1%

For further information about taxes please visit the State Tax Inspectorate.