Lithuania Company (UAB)

Description

Information relating to Lithuania Company Incorporation

The most common form of a business presence in Lithuania is a limited liability company [UAB].
The minimum share capital required to establish a limited liability company is EUR 2500 which shall be paid prior to company registration with the Commercial register when the company bank account is opened. Limited Liability Company [UAB] may be founded by natural persons as well as legal persons (companies).
Company formation cost including bank account and VAT registration:
State fee for registering UAB (private limited liability company) is Euro 60 EUR. State fee does not include notary fees that may vary from 110 EUR to 240 EUR. There is no state fee for registering as VAT payers in Lithuania. In order to open company’s bank account the cost slightly varies on the particular bank. In case if company is incorporated by legal person (company) there might be additional costs for translation services (approximately 20-25 EUR/page).
The registration takes 3 business days from the submission of documents at local authorities and the all-included state fee range is from 290 EUR to 580 EUR.
Legal address:
Please do note that it is necessary to indicate the legal address of the company. Therefore the registration at particular premises in Lithuania is necessary as the initial step. You could use our companies address if you require.
Procedure of incorporation:
The initial step is to conclude the act of establishment of the company. Temporary bank account is opened and an initial contribution for the subscribed shares is paid. The amount of the initial contributions must be at least 2500 EUR.
The articles of association of the company are drawn up and approved by the notary and the necessary management bodies in the company are appointed;
The company is deemed to have been established upon registration thereof with the Register of Legal Entities.
All the documents must be submitted to Center of Registers in Lithuanian language. According to local laws, the translation of documents can be made only by a certified translator. Approximate cost for one page translation is 20-25 EUR/page; Approximate cost for the translation of Company setup documents is 290EUR.
Required Documents and Information
The list of the main documents and information for company incorporation in Lithuania are:
Data on the company director and the board members (forenames, surnames, identification numbers, dates of birth, residence addresses and passports copies); Data on the establisher of the company (in the case of the establisher being the legal person (company) – extract from Center of Registers on the company;
Legal address of the company in Lithuania;
Information on the Bank preferences;
Act of Establishment;
Articles of Association;
Establishers Decision;
Certificate from the bank which proves that the initial share capital of EUR 2500 have been paid.
Also please be aware that the availability of the name of the legal entity must be checked prior to registration.

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