Company registration in Lithuania

Prerequisites for Company Registration in Lithuania

Director

Living in a world without borders, anyone, irrespective of nationality, can assume the position of director for a company or branch office in Lithuania, provided they are at least 18 years old. A single director is a minimum requirement, and Lawtter Solutions is poised to assist with your company management structure.

Shareholder

Lithuania promotes entrepreneurship with a policy of inclusive opportunities. Just like directors, shareholders can hail from any country, provided they are 18 years or older. A single shareholder is all it takes to get started. Let Lawtter Solutions help you unlock new horizons.

Address

We’re on hand to help you find an ideal location for your Lithuanian company. The one necessity is that the company’s legal address be situated within Lithuania.

Name

Uniqueness matters! We’ll help you craft a distinctive name for your company, adhering to local laws and regulations. For instance, Limited Liability Companies always conclude with ‘UAB’, Limited Partnerships with ‘KŪB’, and General Partnerships with ‘TŪB’.

Authorized Capital

Your business merits your investment. The minimum authorized capital in Lithuania stands at a mere 2,500 euros, establishing stability from your investment.

Local Account

Local regulations necessitate a temporary Lithuanian bank account for depositing the authorized capital. Post-registration, the account can be opened in any country.

Registration Agent

While it’s not obligatory to have a registration agent in Lithuania, at Lawtter Solutions, we’re always primed to offer our assistance and support.

Reporting

We can aid in organizing, preparing, and filing your reports in compliance with Lithuanian law.

Select Lawtter Solutions – choose a trustworthy partner on your journey to entrepreneurial success in Lithuania.

Tax Structure in Lithuania

Global Taxation

Lithuania employs the principle of global taxation, which implies that a company’s tax
obligations are determined based on its worldwide income, regardless of where the services are rendered or the company’s structure. The team at Lawtter Solutions can guide you through these nuances, ensuring your tax processes are handled accurately.

Profit Tax

The standard corporate income tax rate in Lithuania is a modest 15%. With Lawtter Solutions, you’ll
see how straightforward and transparent tax management can be.

Withholding Tax

Lithuania imposes a 15% withholding tax on source income. However, we can assist you in
optimizing your tax liabilities, ensuring you benefit from the most favorable conditions.

Value-Added Tax (VAT)

While the standard VAT rate in Lithuania stands at 21%, don’t be disheartened! Depending on your business specifics, the rate could be reduced to 9%, 5%, or even zero. Lawtter Solutions is here to unveil all the avenues for tax optimization.

Opt for Lawtter Solutions and explore the ease and efficiency of tax administration in Lithuania. Not only will we assist with company registration, but we will also provide comprehensive legal support throughout your business journey. Contact us today.

Financial Reporting in Lithuania

Reporting Period

In Lithuania, the reporting period for a company spans 12 months, although it may not align with the calendar year. If you opt to adjust the reporting period, our team of experts will prepare and submit the necessary resolution to the authorities, clarifying the reasons behind your decision.

Account Preparation

The accounts must be prepared, signed by the director and accountant, and subsequently approved by the board of shareholders within four months after the accounting period concludes. Lawtter Solutions guarantees timely and accurate preparation of your company’s accounts.

Account Submission to the Registry

Accounts must be submitted to the registry within a month from the date they are accepted by the shareholders. We assure legal assistance and prompt submission of your company’s accounts.

Account Audit

If your company either has a turnover of €3.5 million, employs more than 50 personnel, or holds
total assets of €1.8 million, an auditor’s review of your accounts is mandatory. We collaborate with seasoned auditing firms to certify your accounts are accurate and trustworthy.

VAT Reporting

We can assist you with VAT registration if your company intends to transact with individuals or if
its annual income surpasses €30,000. We assure the timely preparation and filing of VAT returns every month by the 25th.

With Lawtter Solutions, you can have absolute confidence in the precise and prompt reporting of your company in Lithuania. Contact us today, and let us manage all aspects of your reporting so you can concentrate on expanding your business.