Company Registration by Visit

2. After we receive all of the necessary information, we will contact the notary to book a time for a visit to the notary office and prepare the petition for company registration.
3. During your visit to Lithuania, we will assist you with arranging an accumulation account at an eligible financial institution and depositing the required initial share capital. Account opening is subject to the financial institution’s identity verification, beneficial ownership checks, AML/KYC requirements and approval procedures. Once the required capital contribution has been confirmed, the incorporation documents can be submitted through the applicable notarial and company registration procedures. Opening an account on the day of arrival cannot be guaranteed.
4. For the company formation in Lithuania, you will also require a legal address that our company will be able to help you with.
5. A final step is a joint visit to the notary office to sign the company registration petition. The company will be registered within 5 business days after the visit to the notary.

Limited liability company in Lithuania

The Lithuanian Limited Liability Company (Uzdaroji Akcine Bendrove or UAB ) is the most common form of business activity in Lithuania, as its shareholders do not bear personal property liability for the obligations of the company.

Virtual office in Lithuania

A Lithuanian company must have a registered office address in Lithuania. If the company does not own the premises, the property owner or relevant co-owners must provide consent to use the address for registration in the form accepted by the Lithuanian Centre of Registers. A lease agreement or property ownership document is not universally required in every incorporation procedure. A virtual office address may be used where the necessary registration requirements are satisfied.  For the convenience of our clients Company in Lithuania UAB can offer to use the legal address of our company in Vilnius.

Our virtual office service is a flexible solution for companies that do not need a physical office in Lithuania. Our legal address in Vilnius will be used for registration in the Commercial Register so that if necessary public institutions can send information letters to the company at the given address. All Company in Lithuania UAB clients will be informed of the receipt of letters and notifications.

The main difference between a legal address and a physical address is that the legal address is only the registration address and the company mailbox. If your company needs a physical/real office and then receives accounts in the name of the company, or if the company has an activity on the territory of Lithuania, staff of Company in Lithuania UAB will be glad to help rent/buy premises for a physical office in Lithuania.

Deposit of statutory capital on the opening of a company in Lithuania

When establishing a Lithuanian private limited liability company (UAB), founders must arrange an accumulation account with an eligible financial institution and deposit the required initial share capital. The minimum authorised share capital is EUR 1,000, which must be fully paid before registration where the company is established with the statutory minimum capital. Where a higher amount is subscribed, the initial monetary contributions must total at least EUR 1,000 and satisfy the applicable minimum contribution requirements for each founder. Account opening and confirmation of the capital deposit depend on the financial institution’s procedures and may take longer than one business day. The company is registered with the Lithuanian Register of Legal Entities (JAR) through the Centre of Registers, using the appropriate notarial or electronic incorporation procedure.

Forms of business in Lithuania

A Lithuanian private limited liability company (UAB) is a common legal structure for small and medium-sized businesses. Its minimum authorised share capital is EUR 1,000, divided into shares with a nominal value determined in the company’s incorporation documents in accordance with Lithuanian law. There is no general statutory requirement for every UAB share to have a nominal value of EUR 25.

A Lithuanian UAB is a separate legal entity with limited liability. Shareholders are generally not personally liable for the company’s obligations beyond their unpaid share capital contributions, although statutory exceptions may apply in cases involving dishonest conduct or other legally recognised grounds for liability. Every UAB must have a general meeting of shareholders and a company director (vadovas). A management board or supervisory board may also be established, depending on the company’s governance structure.

A Lithuanian public limited liability company (AB) is a corporate structure suitable for businesses requiring a public shareholding structure or access to public capital markets. The minimum authorised share capital required to establish an AB is EUR 25,000. Unlike a UAB, an AB may offer its shares to the public, subject to applicable securities legislation and regulatory requirements. However, establishing an AB does not automatically result in its shares being listed or admitted to trading on a stock exchange.

Shareholders of a Lithuanian public limited liability company (AB) generally benefit from limited liability, subject to statutory exceptions. The company must have a general meeting of shareholders and a single-person management body, the company director (vadovas). The requirements concerning a management board (valdyba) and supervisory board (stebėtojų taryba) depend on the applicable provisions of the Lithuanian Law on Companies and the company’s governance structure. Day-to-day management is generally performed by the company director, while any collegial management or supervisory bodies exercise their respective statutory and corporate powers.

The simplest form for Lithuanian business is individual entrepreneurship, which is formed by one entrepreneur. The main advantages of Lithuanian individual entrepreneurship are that there is no need to contribute a registered capital at its establishment. The main disadvantage of the registration of a Lithuanian individual entrepreneur is that the founder assumes full responsibility for the activities of the enterprise, therefore in case of bankruptcy his assets can be claimed to cover debts.

Lithuanian legislation provides for general partnerships (TŪB) and limited partnerships (KŪB), which may be established by eligible natural or legal persons. In a general partnership, general partners are generally subject to unlimited liability for the partnership’s obligations. A limited partnership includes at least one general partner with unlimited liability and at least one limited partner whose liability is generally limited to the applicable contribution obligations, subject to statutory exceptions. The liability rules therefore differ according to the type of partnership and the partner’s legal status.

Foreign companies also have several available options for representation in Lithuania:

• A subsidiary that is an independent entity of the parent company and can be established as a limited liability company
• An affiliate that may perform the same activities as and will depend on a foreign company in Lithuania
• Representation that may act as a channel of communication between the parent company and the clients of the parent company in Lithuania

Please contact Company in Lithuania UAB with the planned date of visit at least two weeks before the arrival and we will prepare everything for your company registration.