Company Registration in Lithuania With 3E Accounting
Lithuania, a dynamic and strategically positioned Baltic nation, offers a welcoming environment for foreign investors looking to establish their presence in Europe. With its robust economy and pro-business policies, company registration in Lithuania is more than just a good idea. At 3E Accounting, we specialize in facilitating seamless company registration processes, ensuring a smooth journey for your business venture.
Things to Know Before Company Registration in Lithuania
Before anything, here are the basics you need to know:
Company Types and Preferred Businesses for Foreigners
Lithuania provides various company types to cater to different business needs. The most common choice for foreigners is the Limited Liability Company (LLC), also known as UAB. If needed, you can also apply for a Public Limited Company. Additionally, branch offices and representative offices are options for expanding foreign companies.
Taxation and Financial Environment
Lithuania boasts a competitive tax regime, with one of the lowest tax rates in Europe. The corporate income tax rate stands merely at 15%. The VAT is 21% though, which is higher than the OECD Average.
Moreover, Lithuania maintains Double Taxation Agreements (DTAs) with numerous countries, preventing double taxation and fostering international trade relationships.
Registration Time and Address
Company registration in Lithuania is an efficient process that usually takes around 5 to 10 business days. A legal requirement is a physical address in Lithuania. Virtual or P.O. box addresses are not accepted, ensuring a tangible presence within the country.
An LLC in Lithuania can be established with a minimum of one shareholder, and 100% foreign ownership is permissible. The minimum share capital is approx. €44,000, from which least 25% needs to be paid up.
Non-EU Entrepreneurs will need to apply for a Schengen-C visa. It is issued as a single entry, double-entry, or multiple-entry type. You can apply for the visa via the embassy website in your country, or can contact 3E Accounting for support.
Documents Needed for Company Registration
These are the documents you need to register company in Lithuania:
- Company name reservation certificate.
- Articles of Association.
- Identification documents for shareholders and directors.
- Proof of registered office address.
- Bank reference letters.
- Application forms for business permits and licenses.
- Tax Identification Number (TIN) certificates for shareholders and directors.
- Completed registration forms.
- Passport-sized photos of shareholders and directors.
What Are the Steps Involved in Company Registration in Lithuania?
Navigating the registration process involves these key steps:
- Choose a unique company name and reserve it.
- Draft and notarize Articles of Association.
- Provide identification documents for shareholders and directors.
- Furnish proof of the registered office address.
- Obtain bank reference letters.
- Complete application forms for permits and licenses.
- Apply for Tax Identification Number (TIN) certificates.
- Submit filled registration forms.
- Provide passport-sized photos of shareholders and directors.
- Make payment of registration fees.
Why Partner With 3E Accounting?
At 3E Accounting, we specialize in guiding investors through company registration in Lithuania. From consultation to documentation, our expert team ensures compliance, expedites procedures, and guarantees a seamless registration experience. Start your business journey in Lithuania with us today!