Solution for business
Formation of a new company allows you to choose your own company type, name, governing structure and share capital. You will be named as the first and only owner of the company.
LET US KNOW WHAT YOU NEED
Companies must register as VAT payers if their income from economic activities over a period of 12 months exceeds 45k EUR. There is no threshold for voluntary registration. 0% VAT rate is applicable to goods exported to the EU as well as transport and other services directly related to the export of these goods. VAT exemptions and reduced rates are applicable in some cases. Lithuania has jumped two positions in the 2017 Paying Taxes report thanks to low administrative burden and quick VAT refund procedure.
TELL US ABOUT YOURSELF
We will ask you to send us the following data about the founder (and director, if he/she is not the same person as purchaser).
1. Passport/ ID card copy;
2. Residence address;
3. Contact data – email, phone No.;
4. Short description of company’s activity;
5. Additional services you need.
LET US PREPARE THE DOCUMENTS
Having received all the information, we start preparing all the required documents for company formation. Usually, this is a quick, 1-day procedure. However, in some cases, especially when the founder is a company, this could take longer as document translations or verifications must be performed.
PAY US AND TRANSFER FUNDS FOR SHARE CAPITAL
Usually, we accept payments by bank transfer only. Cash payments against our invoice are ok as well, just please have in mind that we must receive an upfront payment before the company formation and registration procedure starts.
In Lithuania, a minimal share capital for an UAB-type of company is €2500, and the company must have the money in its accumulative bank account prior to registration. So, before going to a notary to verify company formation documents, this is the time where we open an accumulative bank account for your new company and you must transfer the funds there to form a share capital. You will be able to use the funds for your company’s activity after the company registration procedure is finished.
VERIFY COMPANY FORMATION DOCUMENTS AT THE NOTARY
After all the information is received, documents are prepared, share capital is formed and payment is settled, we agree on a date when a founder visits Vilnius, Lithuania to sign company formation documents at the notary. In some cases, company formation documents may be verified without an actual arrival of a purchaser – contact us for more info on this.
LET US REGISTER YOUR NEW COMPANY IN LITHUANIA
After all the documents are signed and verified, the company must be registered in the Register of Legal Entities. We will take care of this for you. The company formation procedure in Lithuania takes up to 3 workdays (even less in some cases).
Once the company is registered, new director can go to set up a bank account (and change the type of it from accumulative account to settlements account to use the share capital for company’s needs) and start company’s activity. Application for VAT code can be submitted.
Ready-made company allows you to start almost immediately. Choose from a list we send or order us to form a completely new ready-made company named the way you want. No initial funds for share capital needed. All the companies we offer are new, clean, without any previous activity.
CHOOSE COMPANY
We will send you the list of companies on offer. Simply choose the name that suits you best.
Alternatively, you can tell us what company name you desire – we will check if it is available. After your confirmation will prepare company for you within 7 days.
TELL US ABOUT YOURSELF
After you choose a company, we will ask you to send us the following data about the purchaser (and director, if he/she is not the same person as purchaser).
1. Passport/ ID card copy;
2. Residence address;
3. Contact data – emails, phone No;
4. Short description of company’s activity;
5. Additional services you need.
LET US PREPARE THE DOCUMENTS
Having received all the information, we prepare all the required documents for company purchase. Usually, this is 1-day procedure. However, in some cases, especially when the purchaser is a company, this could take longer as document translations or verifications must be performed.
PAY
Usually, we accept payments by bank transfer only. Cash payments against our invoice are ok as well, just please have in mind that we must receive an pre-payment before the company sale-purchase and registration procedure starts.
SIGN PURCHASE DOCUMENTS
After documents are prepared, payment is settled, we agree on a date when purchaser visits Vilnius, Lithuania to sign company sale-purchase documents at the notary. In some cases, company transfer may be performed without an actual arrival of a purchaser (remote company purchase) – contact us for more info on this.
LET US REGISTER YOU AS A NEW OWNER
Now, that company sale-purchase documents are signed, the new owner must be registered in the Register of Legal Entities. We will take care of this for you. The procedure takes up to 5 workdays. In case urgency is an issue – let us know about it and we will definitely offer you a solution.
After registration, new director of a company can go set up a bank account and start company’s activity. Application for VAT code can be submitted.
