Lithuania is a member of the European Union, a member of the Schengen zone and the World Trade Organization. Successful foreign policy and rapid transition to a stable market economy allowed Lithuania to become one of the fastest growing European states. Lithuania is characterized by a stable economy, attractive investment and low tax rates. It is on the 21st place in the World Bank rating Doing Business 2017.
Lithuania has no restrictions for foreigners wishing to be a member of the board or shareholder of the Lithuanian company, and provides the opportunity for confidential ownership of shares. In this country you can register small businesses for which a 5% tax is provided. Lithuania has signed agreements on exemption from double taxation with more than 40 countries worldwide. The country is absent from any blacklists and actively develops free economic zones (Klaipeda and Kaunas).
Features of jurisdiction
- Prompt and simple procedure of company registration;
- Absence of exchange control;
- The need to submit annual financial statements and audit;
- Loyal legislation.
Ways of using the company
Companies in Lithuania are registered with the purpose of using them for trading activities (with purchases in EU countries), as holding companies (for building holding structures for dividends, interest and royalties from CIS countries), and for obtaining residence permit in Lithuania.
Company registration procedure
To start the registration of a company in Lithuania, you must provide the following documents:
- Several variants of the name for verification.
- A package of documents for shareholders, directors and the beneficiary, which includes:
- a civil passport, a driving license or a foreign passport;
- confirmed address of residence.
- Information about the expected type of the company's activities and the geography of doing business.
|Type of company||Closed Joint-Stock Company ( UAB);|
|The company registration period||20-25 working days;|
|AUTHORISED SHARED CAPITAL||Not less than 2900 €;|
|PAID IN SHARED CAPITAL||25% of the declared amount of the authorized capital, but not less than 2900 €;|
|Minimum number of shareholders||One (natural or legal person, not necessarily resident);|
|The minimum number of directors||One (an individual, not necessarily a resident);|
|Availability of information about owners and directors||Information is publicly available;|