How To Register A Company In Lithuania

There are numerous reasons to establish businesses in Lithuania, known as the epicenter of economic growth in Europe, for aspiring entrepreneurs in the Baltic nations or worldwide. 

The country has grown into a popular hub for foreign investments, thanks to the liberal business environment that offers the lowest corporate tax rate among EU nations. 

Still, many business owners are unsure of what documents to prepare and what steps to follow. 

The good news is, registering a business in Lithuania is easy and stress-free, especially with the help of our company registration services. 

Read on to learn the full process. 

How do I register my business in Lithuania?

To get started, you’ll need to register your business as a legal entity – the process depends on your chosen legal form. 

Here are some of the most common forms of entities supported by the Centre of Registers.

Public Limited Liability Company (AB) 

In Lithuania, AB is equivalent to a public limited liability company (LLC). 

Like the name suggests, the company’s stocks can be traded publicly, and the shareholders are separated from the company’s assets – they are only liable to their personal investments. 

If the company is founded by an individual, you will need to draft the founding act of the company and submit it to the Register of Legal Entities. 

Once submitted, you’ll be able to open a savings account at your nearest bank. Be mindful that a minimum sum of EUR 40,000 should be deposited as initial funds. This equity capital should be divided among the shareholders, each of whom is obliged to pay at least a quarter of the sum. 

Afterward, set up a foundation meeting to approve the founder’s statement and a shareholder meeting to appoint a board of the company. 

Before registering your company, apply to the register’s administrator. A notary will then check if the application is compliant with the legislative requirements and conditions of the articles of association.

Once you’ve signed the articles of association, congratulations – your company is officially established as a legal entity!

Private Limited Liability Company (UAB) 

Similar to AB, UAB is a form of company that acts as a separate entity from its owners.

In other words, the shareholders are limited to the amount they have invested in the company. Their personal assets are generally protected from the company's debts and liabilities.

That being said, AB and UAB have some key differences:

In contrast to AB, UAB only requires initial funds of EUR 3,200, which do not have to be paid in cash. The rest of the procedures for UAB registration are similar to AB. 

Individual Enterprise

An individual enterprise is a business owned by a single person.

For this form of establishment, the owner is liable for any obligations of both their enterprise and properties. Meaning, the owner’s investment is not separated from their assets. 

Whether setting up independent commercial, creative, or professional activities in Lithuania, you’ll need to submit the articles of association of an enterprise, signed with your signature, to the Register of Legal Entities. 

If the enterprise is not owned by the manager of the company, the person is obliged to assign a person as the manager. The appointed manager’s details should then be included in the articles of association. 

How do I verify a company in Lithuania?

If you’re a foreigner looking to strike a deal with a counterparty from Lithuania, verify its validity first to avoid being scammed. 

Check the company’s legal entity form, as well as associated legal acts and obligations stipulated by the state. Let’s discuss them in more detail. 

Verifying a legal entity 

To verify the legal entity of a company, visit https://rekvizitai.lt. 

In this reliable and up-to-date directory, you can find all the legal entities registered under the territorial jurisdiction of Lithuania, including AB, UAB, and individual enterprises. 

Simply type in the name of the company or company code in the search box, and the information you’re searching for will appear. 

You can also verify: 

If you wish to get a more detailed report, consider buying the paid service. 

Verifying further details of a legal entity 

Need more specific information not covered by Rekvizitai? Go to the Register of Legal Entities (JAR) site.

This step of the investigation is especially important before you proceed with large transactions for risk management. 

To locate a business, just look for the name of the business or its code number. 

The JAR entails the legal acts and obligations of the company as governed by the state. 

Here are some of the information you can verify:

In addition, you can obtain the counterparty’s financial records for a specific period of time for EUR 8.98 per page. 

However, keep in mind that you will need to sign up as a user on the Registry Center (RC) website. 

There, you will be asked to fill out a form, explaining why you need the data and for what legal purposes. Once the form is filled out, mail it to info@registrucentras.lt. 

Register your business today

Lithuania’s strategic location and low corporate tax rate are among the many reasons why you should open a business in this central part of Europe.

And the good news is, registering a company in Lithuania is easy and hassle-free. Not sure where to start? Demire inc. is at your service.

Simply get in touch with our legal team, tell us your requirements, and take a step back – we’ll handle the company registration process from start to finish!