In this article, a lawyer from Company in Lithuania UAB will answer the most frequently asked questions faced by foreigners starting a business in Lithuania.
When opening a new business, foreigners often face difficulties:
1. Problematic arrival for opening/buying a business
Foreign entrepreneurs can establish or acquire a Lithuanian company without travelling to Lithuania. Depending on the transaction and applicable legal requirements, incorporation or acquisition may be completed through an authorised representative acting under a power of attorney, through electronic registration with the Lithuanian Centre of Registers, or by using remote notarial services. Physical presence in Lithuania is not necessarily required, although identity verification, document authentication and other formalities may apply.
Company in Lithuania UAB offers our foreign clients several options for starting a business:
1. Establish a new Lithuanian company or acquire an existing ready-made company remotely through an authorised representative acting under a power of attorney, or through an eligible electronic or remote notarial procedure. The available method depends on the founder’s identification documents, electronic signature capabilities, corporate structure and applicable legal requirements. Remote incorporation may eliminate the need to travel to Lithuania.
2. Establish a company through a Lithuanian notary where notarial involvement is required. If the founder does not understand the language used during the notarial procedure, interpretation or translation arrangements may be necessary to ensure that the founder fully understands the documents and legal consequences. An interpreter is not automatically required for every notarial transaction. In certain cases, a Lithuanian company can also be incorporated electronically through the Centre of Registers without notarial certification.
2. Opening a bank account
One of the main questions that foreigners have when opening a company in Lithuania is the opening of a company’s bank account. After the establishment of a company, the banking specialists ofย Company in Lithuania UAB can choose for you the most suitable solutions for opening an account for your company, based on the country of residence, the company’s activities and other factors.
3. Electronic and remote control of a company
Many Lithuanian public authorities, including the Centre of Registers and the State Tax Inspectorate (VMI), provide electronic services accessible through supported electronic identification methods, including qualified electronic signatures and recognised eIDAS identification tools. Foreign company directors may access these services if they meet the applicable identification and authorisation requirements. Where electronic access is unavailable, certain administrative and corporate procedures may be carried out through an authorised representative acting under a valid power of attorney. However, not all procedures can be delegated, and some may require additional identity verification, electronic authentication or personal involvement.
Considering the nuances that arise when opening a new business in Lithuania, it is always worth contacting specialists who, having delved into each specific case, will provide the best solutions and accompany during the entire process of the company registration.
Company in Lithuania UABย has been successfully operating in the field of company registration for non-residents of Lithuania for more than five years, and the accumulated experience has helped many foreign citizens to successfully start a business in Lithuania. Contact us in a convenient way for you and get consultation today.
