What do I need to start a business in Lithuania?
The minimal requirements for starting a company in Lithuania are:
- a company name
- a company type
- a registration address
- a bank account with authorized capital
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Do I need real office space for my company?
No, according to the laws of the Republic of Lithuania, every company should have a registration address in Lithuania, but there is no such requirement to have premises for your office. Contact us, if you need a registration address, virtual office services, or real office premises.
Does my company need to be a VAT payer at the start of its activity?
In case your company is planning to reach an annual turnover of 100 000 LTL (EUR 28962) or more, it is compulsory to register the company as a VAT payer. In all other cases you can choose whether to register as VAT payers or not. Contact us for further information.
Is there a minimum requirement for the number of employees in a private limited liablity company (UAB)?
A UAB company is required to have at least 1 employee, the director of the company.
What are the requirements for accountancy?
Each company should hire an accountant or make an agreement on accountancy services with an accountancy company. The accountancy company should know the Lithuanian language and the laws of the Republic of Lithuania. BusinessLT can provide all the accountancy services needed for your company.
Which languages are spoken in Lithuania?
In Lithuania the main language is Lithuanian, but many people also speak English, Russian, German, and French.
Can I do business in Lithuania if I know only English?
Yes, it is generally no problem to do business in English, though main documents are required to be translated into Lithuanian.
Is it safe to do business in Lithuania?
Yes, it is safe to do business in Lithuania. Lithuania is a stable democracy, member of NATO and part of the EU and has based many of its laws on EU laws. Persons and legal entities are protected by law. Corruption is under control and improvements are made in anti-corruption laws and enforcement.
Are there import and export taxes for goods to other EU states?
No. Import and export taxes are only for trade with non EU states.
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