The Republic of Lithuania in Eastern Europe is bordered by Latvia to the north, Poland and Russia to the south, the Baltic Sea to the west, and Belarus to the east. The capital is Vilnius, and the currency is the Lithuanian Litas (LTL). The official language is Lithuanian. Many international companies operate from Lithuania. Biotechnology, mechatronics and information technology (IT) are increasingly contributing to the countries economy. The Lithuanian economy is one of the fastest growing within the EU and the Corporation tax rate of 15% one of the lowest in the EU.
- TYPE OF COMPANY: Private Limited Company (Uzdaroji Akcine Bendrove – UAB)
- COMPANY LAW: Civil Law and Law on Enterprises
- SUFFIX TO DENOTE LIMITED LIABILITY: UAB
- DIRECTORS: Minimum of one who can be of any residency or nationality – we can provide
- SHAREHOLDERS: Minimum one who can be natural persons or corporate entities of any residency or nationality – we can provide
- CLASSES OF SHARE: Registered
- CAPITAL REQUIREMENTS: Minimum share capital LTL10,000 (€ 3,000) a minimum of 25% to be fully paid up
- OWNERSHIP: 100% Foreign ownership allowed
- TIME TO INCORPORATE: 7 – 14 days
- REGISTERED OFFICE: Required in Lithuania – we can provide
- ANNUAL RETURN: Yes
- ACCOUNTS: Yes
- DISCLOSURE: Yes
- TAXATION: 15% Corporation Tax
- GOVERNMENT LICENCE FEE: N/a
- DOUBLE TAXATION TREATIES: 45
- LANGUAGE OF DOCUMENTATION: Lithuanian with certified English translation
If you would like further information on setting up a company in Lithuania or the formation of a Lithuanian company or other Lithuanian corporate entities or require professional advice relating to taxation or the structuring and requirements of a Lithuanian company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in Lithuania.
We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.