Lithuania's financial technology industry is on a steady rise.

With over 260 fintech companies already registered and operating there, it's becoming a hub for innovation in finance. This hub of activity is drawing fresh businesses at an impressive rate. 

If you're looking to launch your own fintech company, registering it in Lithuania is a smart move. The country offers a supportive environment with a friendly regulatory system, a pool of skilled professionals, and a central bank that encourages competition. 

Of course, that’s not all. As you’re scrolling down, you will find out how registering your company in Lithuania is a good idea.

Is Lithuania a good place to start a business?

Lithuania is rapidly becoming a haven for foreign entrepreneurs, particularly those in the fintech sector.  

The World Bank backs this up, ranking Lithuania at an impressive 82/100 for ease of doing business in 2019.  This translates to a smooth and efficient company registration process, making Lithuania an attractive option for foreign investors.

The Lithuanian government actively encourages foreign investment, especially in the thriving fintech industry. 

Starting a business in Lithuania as a foreigner might be challenging, but you'll find yourself entering a supportive ecosystem that fosters innovation and collaboration.

What are the benefits of PR in Lithuania?

Registering a business in Lithuania is known for being a streamlined process, and permanent residency (PR) can make it even smoother for foreign entrepreneurs. 

Here's how it works: 

With everything prepared, the actual registration can be done conveniently online through the Register of Legal Entities website, along with submitting the required fees. 

Don't forget that registrations with tax authorities and the social security fund are also necessary.

Becoming a permanent resident of Lithuania also brings tons of advantages. For starters, you will find it much easier to bypass some bureaucratic hurdles and obtain permits.

More importantly, permanent residency eliminates visa limitations, allowing you to travel freely within Lithuania and potentially throughout the European Union for business meetings and networking opportunities. 

Perhaps the most significant advantage is the local credibility it grants you. Permanent residency demonstrates a long-term commitment to Lithuania, which can significantly boost trust and build stronger relationships with local partners. 

While starting a business in Lithuania doesn't require permanent residency, it can definitely act as a valuable asset for a more streamlined and successful business experience.

How much does it cost to register a company in Lithuania?

The cost of registering a company in Lithuania depends on the types of companies.

For the most common structure, a Private Limited Liability Company (UAB), the Lithuanian government charges approximately 57 EUR. 

In addition to the state fee, you'll need to factor in notary fees, which typically range from 72 to 290 EUR.

Meanwhile, for a simpler structure company called a Mazoji bendrija (MB), which means a Small Partnership, the registration cost is 189 EUR with an e-signature or 259 EUR without it.

What are the advantages of registering a company in Lithuania?

For ambitious entrepreneurs eager to broaden their reach, Europe offers a big and profitable market. However, handling company registration in Europe can be a challenging issue.  

Lithuania provides an attractive offer with a unique combination of tax breaks, geographical location, and a streamlined business climate.  

Here's why registering your company in Lithuania could be the key to optimizing your European business potential:

Conclusion

While navigating the process of starting a business in a new country can feel daunting, Lithuania offers a surprisingly foreigner-friendly environment.  This Baltic nation actively welcomes foreign entrepreneurs, and the potential benefits are significant.

However, even with these advantages, there can be complexities involved in starting a business in any new location.