To registrate an organization in Lithuania, there are a few significant stages. Each stage suggests assortment, planning and presenting of a specific bundle of documentation, just as information on Lithuanian regulations.
Applying to legal advisors assists with saving a lot of time and increment the odds of getting a positive reaction from a foreign country.
Choice of legal form
The choice of legal form is the first step in a process of registration. The main kinds of firms in the territory of this jurisdiction are:
- A public institution (PE).
- An individual enterprise (IE).
- A small community (MS).
When setting up an organization in Lithuania, it is likewise fundamental to settle on the members of the organization’s supervisory crew and the extent of business. The primary working industry has a similar impact fair and square of tax collection rate as the sort of lawful form.
The establishment of a UAB is the most favorable form of firm registration in Lithuania for non-residents. A closed joint stock firm may be formed by either a legal or natural person, but it has restricted liability because it only has duties to its creditors and shareholders.
The setting of an organization in Lithuania is done at the Center of Registers.
The legal advisor gathers the bundle of documents, checks the legitimate information and submits them to the spot of registration of the organization in Lithuania. The entire methodology requires around multi week, the specific time relies upon numerous elements.
A Lithuanian resident or a representative from another country with a Lithuanian residency permit may be required.
While applying for a residence license, individual information of the customer and data on his own records will be required. For the next step in the registration procedure, you must supply the firm’s name, which must conform with Lithuanian regulations, as well as all information about the firm’s directors and founders.
Offshores in Lithuania
Due to the lack of offshore zones in Lithuania, it is not allowed to register an offshore corporation there. Founders can form corporations in low-tax jurisdictions, but Lithuania is not an offshore jurisdiction.
Phases of establishment
Client’s request for advice on forming a firm in Lithuania. Our specialists evaluate the firm title proposed by the customer for compliance with Lithuanian legislation at this step, after which a collaboration agreement is signed and the applicant’s needs are clarified.
Documents required for submission to Lithuanian Registry Centers and low-tax zones are collected. The collection process can take up to 1 week, during which time your attorneys will keep you updated on the stage’s progress.
The documentation package has been sent to Lithuania. The preparation and transfer can take up to ten working days, after which the new company is registered.