Establishing a business in Lithuania is quick and straightforward. Here's an e-guide to the kinds of companies on offer. Once you've chosen the kind of company you want, follow these six steps to get your operations up and running.

Company name

First of all, you have to make sure your company has a proper Legal name. Thus, you should reserve the name in the Register of Legal Entities. You need to submit a JAR-5 application (translation attached). Your selected name shall be reserved and kept for you for 6 months, so you could take care of all other steps to establish a company. After submitting the application, you will get a confirmation of your reservation.

Documents of Establishment

It is required to prepare a company establishment document, which contains such information as articles of incorporation (describing company‘s activities, type of management, and its competences, and the protocol of Constituent Meeting of Shareholders).

Company premises and address

Make sure to get the permission of the owner of the premises to use it as an official place to register your business activities to.

Minimum authorized capital

Depending on the type of company, you might need to open a bank account for the company and transfer the required amount of money there (2,500 – 40,000 EUR). After that the bank would provide a statement of required capital being transferred to your company‘s bank account.

Notary approval

You are required to have all of the documents above approved by the Notary, including but not limited to establishment documents, a certificate of name reservation, the consent of the owner of the premises to use the address as your legal address, and a bank statement.

Registering company in the Centre of Registers

After providing all the documents approved by the Notary, the Centre of Registers will officially register your company.

16
out of 19 countries evaluated Ease of Doing Business*
*World Bank, Doing Business, 2018
41
out of 137 countries evaluated Global Competitiveness Index*
*World Economic Forum, 2017
2nd
in the world for procedures to start a business*
*IMD World Competitiveness Yearbook 2016
3
days to set up a business

Check out Invest Lithuania's great guide for helping you manage your costs. In it you'll find info about average overhead costs and Lithuanian taxes.

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