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Business in Lithuania (Vilnius)

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Capital: Vilnus
Population: 3 759 000
Currency: Lit (LTL)
President: Mrs. Dalia Grybauskaite

Corporate registration in Lithuania:

Main corporate legislation acts:

Company registration in Lithuania is mainly regulated by the Civil Code of Lithuanian Republic (July,01 2000), Investment law of Lithuanian Republic (June, 07 1999), the Law «On free economic zones» (1995-1996).

Main forms of business presence:

Open joint stock company with limited liability (Akcine Benderove); Closed joint stock company with limited liability (Uzdaroji Akcine Benderove); Partnership with limited liability (Komanditine Ukine Bendrija); Partnership with unlimited liability (Tikroji Ukine Bendrija Handelsbolag); Representative/Branch office.

Minimum capital charter for company registration:

LLC — 10 000 Lit (3700 USD), Joint stock company: 150 000 (55 000 USD); for partnership of different forms minimum charter capital is not required. Charter capital has to be paid on the bank account before company registration. This account can be activated only after company registration and shall be considered as current account of the company.

Services for company registration:

  • Preparation of constituent documents;
  • Company registration in tax authorities;
  • Ordering and receipt of the seal;
  • Registration of company’s data in social funds;
  • Notarial authentication of the bank cards;
  • Opening of  accumulative/current bank accounts.

Preliminary information for company registration:

  • Company’s name. In case if the founder is a legal person, there is a possibility to transfer all or a part of the company-founder’s name, with possible adding of the words Vilnius or Baltia etc. (using in the company’s name of such words as Lithuania or Lietuva is limited and is possible only with the permission of Lithuanian Government);
  • Legal address in Lithuania (we may provide you with it upon request) and contact telephone;
  • Information about Participants (Shareholders) and Director of the company (name, residence address, citizenship) and contact telephones;
  • The size of charter capital of the company and methods of its contribution;
  • Types of activity;
  • Choice of bank, where accumulative/current accounts will be opened

*All documents is necessary to present in advance in order to translate them into Lithuanian language. Our company retains the right to ask for additional documents. All documents have to be notarized by appropriate local authorities and legalised by the Lithuanian Embassy in the country of Participants (Shareholders) or in accordance with Hague Convention (1961) must bear Apostille, issued by the approporiate state agency after the notarisation on each document.

Presence of participants during company registration:

Participants have no necessity to come to the Lithuania during registration process, but the presence of the general director is mandatory. Presence of the general director will be necessary at notarius office for auhtentication of his signature.

General term of company registration:  from 15 days from the date of payment of Charter capital and submission of all necessary documents.