It’s a permanently developing jurisdiction, intending to become center of start-ups in the Baltic States, especially those who intend to work in the IT field. This country has an excellent geographical position. Considering Lithuania as a promising space for developing your business-structure, you can see a lot of advantages. Lithuania corporate services are essential for businessmen who want to launch a business quickly and efficiently, as well as quickly develop the local market space.
Corporate services in Lithuania: why it is profitable to open a firm
Lithuanian regulators are trying to provide equal possibilities to local and non-local firms, as regulators receive a large amount of potential applications for firms establishment from different entrepreneurs.
Country is constantly progressing its own reputation and attraction for capital-holders. Consider some of the advantages of opening a company:
- by law, entrepreneurs have the right to enter and stay locally if they possess a company. You can either establish organization, or become shareholder of existing firm;
- opening a firm there makes it possible to receive tax benefits;
- an excellent reputation, which is beneficial for capital-holders;
- no currency rules, thanks to which the flow of money is absolutely not restricted by any framework;
- working with EU partners, firms from this country can get a tax number and the ability to return VAT;
- it is also possible to obtain a residence permit, which will give freedom of movement in the Schengen area without restrictions to stay locally.
Corporate services Lithuania: requirements for launching a business-structure
To open your firm in the territory of jurisdiction, you first select the correct organization’s denomination and enter it in the general register. You also need to have sufficient initial capital in a bank account – the amount depends on the type of business-structure.
Contact us for professional assistance. During the establishment process, our lawyers will create a memorandum of association: it’ll describe personal data, company’s goals and internal rules. At least 3 directors should be appointed, foreigners are allowed. All ready documents are issued to the client after the registration of the company.
Types of business structures
To open your own business-structure and work officially, you need to decide on the type of organization you’ll manage. It can be a cooperative structure, a partnership or a sole proprietorship. Consider the most commonly-chosen firm organization forms for foreign businessmen.
LLC (AB)
This structure is most common among the owners of large and medium-sized firms. Starting capital businessmen need to possess in bank account of a public corporation is 40 thousand euros. Capital shares may be exchanged or available for purchase.
Such a firm may have 1 or several founders – both individuals and legal entities. Residence of the founders does not matter.
PLC (CJSC)
Most often, private organizations are opened by small foreign capital-holders. To do this, you need to have an authorized capital of 2.5 thousand euros, of which at least 25% is paid. Founders can also be both local and foreign citizens, 1 or more people.
General partnership (TUB) or limited liability partnership (KUB)
Limited partnerships bear a liability equal to the sum of the partners’ contributions. Partnerships must have at least 1 unlimited liability partner.
Branch or representative office
Non-local firms or organizations have the right to open representative branches. This’s part of foreign enterprise located locally. One of managers must be a local resident.
State support to foreign enterprises
Under local laws, both local and foreign-businessmen are equally protected. To open a firm in this country, you don’t need to have special permits. State-owned companies should not be prevented from legally owning property owned by foreigners. If this happens, the investor can request compensation.
If you want to open a firm in Lithuania, we advise you to contact our professionals. Our experts will help you fill in all documentation correctly, create a Statute and in a short time get all the permits for the legal conduct of deals. We also have an extensive list of shelf companies for sale and hundreds of jurisdictions. Contact us now and get comprehensive support.