Register a company
The authorized capital of UAB may not be less than EUR 2 500. The cash contribution must be at least €2,500 and the balance may be paid with the equipment. The non-monetary contribution is assessed by a certified appraiser under special rules. Funds for the formation of the authorized capital of a Lithuanian company may be transferred from another bank account, including from abroad.
Registration forms for companies in Lithuania
There are several forms of company registration in Lithuania, including, among others, a closed joint stock company (UAB), a small company (MB) and an individual company (II). As a rule, UAB is the most convenient and common form of business registration in Lithuania (more than 90% of all enterprises in Lithuania are registered in this form). Registration MB and II is most often used by micro and small businesses.
Register of legal entities
The information of the Register of Legal Entities, annual reports, the list of shareholders and other documents, such as the minutes of the meetings of the members of the Board, are contained in the archive of the Center of Registers and are available to all interested persons. This service is paid. The Register Centre has launched an electronic registration system for legal entities online. Given that no document is submitted in writing when using this service, a reliable electronic signature is required. So far, online registration is available only to Lithuanian residents, but the Centre of Registers is working on providing access to the service of foreign investors. Therefore, in Lithuania there is an e-guide on the establishment of enterprises, which provides foreign clients with the necessary assistance and information on the conduct of foundation and registration procedures.
The importance of company registration in Lithuania
The European Business Center provides easy access to the necessary information on any European enterprise directly from the official register of each country. This makes it possible to obtain information on any foreign company for a reasonable fee. This improves the position of small and medium-sized enterprises, as they had previously had difficulties in obtaining information on enterprises outside Europe. The Center of Registers provides the possibility of registration of various forms of enterprises. public limited liability company. Creation: the company charter must be prepared. If the company founder is one person, the act of foundation must be prepared. The founder can apply to the company’s name in the Register of Legal Entities. This gives the opportunity to open a savings account in the bank. Each shareholder must pay at least a quarter of the total value of the shares in cash. It is necessary to convene a constituent assembly in order to approve the application of the founder and appoint the members of the board, which is done at the meeting of shareholders.
Requirements for company registration in Lithuania
To register a company in Lithuania there are a number of requirements at least 1 shareholder, which can be both physical. - and legal person of any residency. Minimum 1 director (may be a shareholder), without residency requirements. AML compliance officer. Presence of a registered office (virtual office is allowed). The application period usually takes about a month. Note that data on beneficiaries are disclosed to regulators. The compliance specialist must have previous professional experience. The FCIS monitoring body may request information about the company’s activities, especially regarding compliance with predefined AML/KYC policies.