Setting up a UAB in Lithuania under the client’s brand name without a personal visit

Kliento užklausa

In 2021, a client from Poland approached TET needing to establish a company in Lithuania in the form of a UAB. Due to circumstances related to the coronavirus pandemic, he could not travel to Vilnius in person to visit a notary and a Lithuanian bank, open an accumulative account and pay in the share capital. The name of the future company was of fundamental importance to the client. It had to match exactly the name of his Polish company, whose brand was already known on the local market. In addition, the client had prepared advertising materials, so retaining the chosen name was an important part of the task. It was therefore necessary to organise the establishment of a Lithuanian company with a specific name and the subsequent formalisation of the client’s rights without his personal presence in Lithuania.

Mūsų sprendimas

A TET lawyer proposed carrying out the project in two consecutive stages: first, to establish the UAB with the name chosen by the client in the lawyer’s own name, completing the necessary registration and banking procedures, and then to transfer the shares to the client remotely. This sequence allowed the steps requiring on-site participation to be carried out by a specialist in Lithuania. At the same time, the client could obtain a company with the required name without travelling to Vilnius. The final stage of the solution was formalising the change of shareholder and entering the client’s details into JADIS.

Kaip mes tai padarėme

1. Establishing the company with the chosen name

At the initial stage, the TET lawyer acted as the founder of the Lithuanian UAB. The company was established with the name chosen by the client, which matched the name of his Polish company. This made it possible to keep a single business name in both countries and to use it in the advertising materials that had already been prepared.

2. Completing the banking and registration procedures

As part of establishing the company, the necessary steps were taken to open an accumulative account with a Lithuanian bank and pay in the share capital. The lawyer also ensured that the required company establishment procedures in Lithuania were completed. Thanks to the involvement of a specialist on site, the client did not need to visit a Lithuanian bank or a notary in person.

3. Transferring the company to the client remotely

Once the UAB had been established, the second stage was carried out: the transfer of shares to the client and the formalisation of the change of shareholder. On the client’s side, this process was completed entirely remotely. The lawyer’s initial role as founder was thus an intermediate stage, after which the client became the owner of the company.

4. Entering the details into JADIS

After the share transfer, the client’s details as a shareholder were entered into JADIS, the information system of legal entity participants. This stage completed the formalisation of the changes in the company’s participants.

Rezultatas

Viduje trys savaitės, the client received a Lithuanian UAB with the chosen name, matching the name of his Polish company. The establishment procedures, the opening of an accumulative account and the payment of share capital were completed, the shares were transferred to the client and his details were entered into JADIS. The entire project was carried out without the client travelling to Lithuania in person. Despite the pandemic-related restrictions, the organisational issues were resolved and the brand name under which the client was already operating on the Polish market was retained.

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