Advantages of opening a company in Lithuania
Starting your business in Lithuania is easy. It is easy and fast to start or buy a company. The whole process will not require you to spend much time or money. In addition, it will not be necessary to experience a language barrier, as in Lithuania, many are fluent in English, Russian and Polish. Opening a company in Lithuania and conducting business in Lithuania is convenient. Registration or acquisition of a company in Lithuania is a quick and simple process that does not require significant money and time. In addition, you will not encounter a language barrier here, as many communicate in Russian and English. It is also important that taxes in Lithuania are among the lowest in the EU. Therefore, opening a company in this country is attractive and for tax reasons. The standard tax rate for companies in Lithuania is 5 or 15 percent of profit. Value Added Tax (VAT) is 21 percent.
Company Registration in Lithuania
It consists of several stages. When choosing the legal form for your company, you should pay attention to the goals pursued by the entrepreneur, starting a business in Lithuania. Today, one of the most popular forms of legal entity in Lithuania is a Closed Joint Stock Company (CJSC). This is a legal entity with limited liability, i.e. a closed joint stock company, which is responsible to creditors only the property of the company. This business form is aimed at making profit through business activities. The registration process of this company does not take a long time, does not require significant authorized capital, and the company itself is quite simple to manage (since it does not necessarily have a board of directors), which provides simplicity and flexibility in making important decisions.
Company registration process in Lithuania
Copies of the notarized certificate of registration of the founder and its charter, a document on who has the right to provide the legal entity with a translation into the Lithuanian language. Notarial power of attorney for the right to sign constituent act (contract), charter and registration, if the founder himself does not wish to appear to the Lithuanian notary. Variants of the name of the company to be established. UAB name should be written in Latin letters. It is advisable to prepare several possible options at once and consult with us. The selected name should be reserved in the Register of Legal Entities. Preparation of the Articles of Association of the Company. Requirements for the Articles of Association are laid down in the Law of the Republic of Lithuania on Joint-Stock Companies. In addition to other information, the charter should specify the types of activities of the company. They can be specified in a free form. Decide on a legal address in Lithuania. At this address the enterprise is not obliged to be present or to carry out activities, but to register the company at this address in Lithuania requires the written consent of the owner of the premises. The company may use another address for business, but it must be notified by filling out a special form;
