Opening a Company in Lithuania by a Power of Attorney

PROCEDURE FOR THE ESTABLISHMENT OF A COMPANY BY PROXY

1. Company in Lithuania UAB sends an example of power of attorney in English based on Documents and information received from the founder.
2. The power of attorney must be executed in a form legally recognised for the intended incorporation procedure. Depending on the country of execution and the requirements of the relevant notary or registration authority, a translation into the local official language may be required. However, translation into the national language of the founder’s country is not a universal requirement.
3. Where the power of attorney is executed abroad, it must comply with the formal requirements applicable to the authorised transaction. Notarial certification may be required, depending on the intended use and applicable law. An Apostille or consular legalisation may also be necessary, unless an exemption applies under an international agreement. The specific requirements should be confirmed before the document is executed.
4. Where the power of attorney is issued in a language other than Lithuanian, a translation into Lithuanian may be required for its use in the incorporation procedure. The required form of translation or certification depends on the receiving notary or registration authority. A separate sworn translation into English is not a universal legal requirement for registering a Lithuanian company.
5. Once the power of attorney and supporting documents have been properly executed and authenticated where required, they must be provided in a format accepted for the incorporation procedure. Original documents may need to be delivered by courier in certain cases. However, eligible electronic documents and electronically signed authorisations may be accepted without physical delivery, depending on the requirements of the receiving authority or notary.
6. After receiving the documents, Company in Lithuania UAB will translate them through a sworn translator into Lithuanian and reserve time at the notary for the establishment of the company.
7. Our authorised representative will assist with applying for an accumulation account for the company’s initial share capital contribution. The account may be opened with an eligible financial institution, subject to its identification, beneficial ownership verification and AML/KYC requirements. Account approval remains at the financial institution’s discretion and cannot be guaranteed solely on the basis of a power of attorney.
8. It is necessary to transfer capital into a temporary account of the company.
9. The notary will be able to apply to the Business Register. Registration of the company takes up to 5 working days after submission of documents.
10. Following incorporation, the company’s accumulation account may be converted into an operating account where permitted by the financial institution, or a separate business account may be opened. The account opening procedure depends on the institution’s internal requirements, AML/KYC assessment and the company’s ownership structure. Some institutions may require personal attendance, while others permit remote identification and onboarding. Physical presence is not a universal statutory requirement for every Lithuanian corporate bank account.

Necessary information for company registration in Lithuania

Company in Lithuania UAB cooperates with each of our clients individually, and we will prepare the documents based on your information. Please contact our team, and we will offer you the best possible solution for your needs.