Registering Lithuanian Company by the Power of Attorney
Uždaroji akcinė bendrovė (UAB) in translation from the Lithuanian language means Closed Joint-Stock Company. The statutory capital of the UAB is divided into shares which can be sold in whole or in part, donated or hereditary. UAB must have at least one owner (natural or legal person) and can have only one director (natural person) authorized to sign on behalf of the company.
To register your company in Lithuania using POA following steps must be made.
Firstly, prepare the Power of Attorney for one of our representatives, (All documents must be translated into English after being notarised and/or apostilled), after receiving all documents via courier, we shall arrange translation of your documents to the national Lithuanian language. With Lithuanian POA representative of Company in Lithuania UAB is allowed to contact local bank on your behalf and request for an n account opening (the average timing of an account opening is 1-2 weeks). After opening an account, our representative deposits 2,500 EUR as the share capital of your company and receives confirmation from the bank. At the same time, additional documents and the form for the notary are filled out. With the bank confirmation, prepared documents and completed forms, you can book your time at one of the Lithuanian notary offices.
If notary confirms and approves all documents, forms and share capital certificate, the whole package of documents will be takes to Business register or Registru Centras of Lithuania. The last step is payment of the state fee.
After completing the whole process your company will be registered within 5 business days.
To confirm your company registration Lithuanian business register will send you a confirmation email with the link and passcode to download the certificate of your company.
Employees of Company in Lithuania UAB will be glad to help in establishing a company in Lithuania by proxy.