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Responsiveness in real time on our chat online, in English or French, our permanent follow-up and our assistance included in all our packages.
Company incorporation in Lithuania, bank introduction* included - possibility of paying in 1 or 2 instalments
Pay in 1 month €1592 + VAT.
Pay in 2 instalments, deposit € 796 + VAT.
- When you place your order, you will automatically receive an e-mail with a Company incorporation form to fill in.
- Payment can also be made by bank transfer: you can place your order above: during payment, you will be offered the option of paying by bank transfer; click on the “Bank transfer” box: when we receive your order, we will send you our bank details for your transfer, with the option of paying in 1 or 2 instalments.
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New: contact one of our customer advisers. Would you like to be reassured about our company? We can put you in touch with one of our customer advisers on request.
Banking introduction* (online banking, CB,...) to Revolut Business, Wise,... : €0 (included in all Companies incorporation orders)
OR
Assistance in English (an independent account manager, employed by the bank, calls you and takes care of your request to open an account with Revolut Business or with one of our other partners) : €290 + VAT.
OR
Banking introduction* in a real bank in Europe (French language), network of banking agencies in a country bordering France, with travel : €392 + VAT.
OR
Banking introduction* in a real bank, with a network of branches, WITHOUT TRAVEL (which is rare for a real bank), with of course online access, remotely and with an independent account manager, working for the bank, english and french : without travel, €392 + VAT.
OR
HSBC banking introduction* in a European Union country: €890 + VAT.
You can, of course, opt for an online banking introduction* (neo-banking: Revolut Business or another of our partners), which is included free of charge in all our Company incorporation packages.
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Boost your business with our Europe-wide network of contacts (manufacturers, distributors, suppliers, resellers, local agents, logistics and goods-in, etc.).
When setting up a Company incorporation in Lithuania, it is possible to choose between different legal entities. The private limited company (UAB) is the most common form of entity in Lithuania for starting a business (around 96% of all establishments). In Lithuania, a private limited company is called UAB (uždaroji akcinė bendrovė) and stands for limited liability company.
Registering a company in Lithuania
The Civil Code of the Republic of Lithuania establishes the legal norms for the foundation, legal status, management bodies and their competence, liquidation and reorganization of different types of companies in Lithuania.
Under the Civil Code, all companies operating in Lithuania have the status of legal entities. A legal person is defined as a company, institution or organization that can acquire and exercise rights and obligations in its own name.
Before setting up a business, it is essential to assess and choose the type of company that best suits you from a legal and economic point of view, as this choice will affect not only the amount of equity capital required, but also the company’s legal status and other business-related issues.
The most common form of business presence in Lithuania is a limited liability company (UAB).
Chat with usThere are four main types of company registration in Lithuania for foreign investors, and they are as follows:
- public company (AB) is similar to a limited liability company (LLC) or corporation (JSC)
- private company (UAB)
- general partnership (TUB) or limited partnership (KUB)
- branch or office
All companies must register with the Unified Register of Legal Entities (the Register), administered by the State Enterprise Centre of Registers.
We can set up your company in Lithuania.
Limited liability company (UAB)
The most common way for small foreign investors to invest in the Republic of Lithuania is to set up a private company.
Authorized capital
When setting up a limited liability company, the minimum share capital is 2,500 euros. The minimum share capital must be deposited in a bank account; at least 25% of the capital must be paid in when the company is incorporated. Capital is divided into shares, which may not be publicly traded or offered for sale.
Founder
One or more persons may be the founder(s) (shareholder(s)) of a limited liability company. The founder may be a resident or non-resident of the Republic of Lithuania.
Status
A private limited company is considered a legal entity.
Liability
The liability of the shareholder(s) is limited to the total amount of their shares.
Management body
A limited liability company is determined by the general meeting of shareholders; there is no requirement for a board of directors or supervisory board. The maximum number of shareholders in a limited liability company must not exceed 250.
Audit
Annual audits are required if sales exceed 1.4 million euros.
Société anonyme (AB)
The joint-stock company is the most common type of commercial company for medium-sized and large companies in Lithuania.
Authorized capital
When incorporating a joint-stock company, the minimum share capital is 40,000 euros. The minimum share capital must be deposited in a bank account; at least 25% must be paid in. Capital is divided into shares, which may be traded or offered for sale publicly.
Founder
One or more people may be the founder(s) (shareholder(s)) of a public limited company, and they may be both natural and legal persons. The founder may be a resident or non-resident of the Republic of Lithuania.
Status
A joint-stock company is considered a legal entity.
Liability
Shareholders’ liability is limited to the total amount of their shares.
Management body
The decision-making body of a limited liability company is the Board of Directors, comprising at least three members of the Board of Directors or the Supervisory Board. The company’s management bodies are determined by the General Meeting of Shareholders.
General partnership (TUB) or limited partnership (KUB)
There are two types of partnership in the Republic of Lithuania. The main difference is the extent of liability.
Status
Both partnerships are considered as one legal entity.
Liability
Limited partnerships have limited liability, which means that limited partners are liable up to the amount of their contributions, whereas there must be at least one general partner with unlimited liability.
For limited partnerships, there must be an agreement between the partners, signed by all and notarized.
Branch or representative office
Foreign companies or organizations may establish representative offices and branches in Lithuania. The representative office or branch is part of a foreign company or organization located on the territory of the Republic of Lithuania. At least one manager must be resident in Lithuania.
The branch or representative office is a unit of a legal entity (foreign company), but is not a legal person.
The branch is a structural unit of a legal entity, which has its registered office and performs all or part of the functions of the legal entity. The branch may carry out transactions within the framework defined by the foreign company.
The representative office is a unit of a legal entity, which has its registered office and enjoys the right to carry out specified operations, i.e. to represent and safeguard the interests of the legal entity. The representative office may promote, but may not trade.
The main feature of the representative office or branch is that the foreign company is responsible for all liabilities.
For tax purposes, a foreign company may set up a permanent establishment in Lithuania. The representative office or branch is not a formal audit requirement.
Taxes in Lithuania
The Republic of Lithuania implements a business-friendly tax policy, and the tax system is adapted to European Union legislation. Since 1990, the Lithuanian tax system has changed radically to support foreign investment and labor market development.
Taxes and other payments are collected from the budget on the basis of the order of the Supreme Council; however, regional and municipal councils act separately in tax collection matters. In Lithuania, the basic principles of tax payment and their regulation are governed by the Law on Tax Administration, which defines the rights and obligations of the tax administrator and the taxpayer, as well as the procedure for calculating tax and the amounts payable.
There are 7 main types of tax in Lithuania:
- Corporate income tax
- Personal income tax
- Property tax
- Property tax
- Inheritance and gift tax
- Value-added tax
- Excise duty
- Lottery and gaming tax
The State also collects social insurance contributions, taxes on the State’s natural resources, taxes on oil and gas resources, taxes on environmental pollution, consular taxes and State fees
Corporate income tax
Those liable for corporate income tax are companies engaged in commercial activities, and this tax is also paid by non-profit organizations that profit from commercial activities.
The general corporate income tax rate is 15%, although companies with fewer than 10 employees and gross annual sales of less than €300,000 can opt for a corporate income tax rate of less than 5%. In addition, these small companies benefit from the following advantages:
The corporate tax rate in 2009 was 20%, but in 2010 the tax rate was reduced to 15% and remains at the same level.
For 2010, basic contributions amount to 40.7% of total pre-tax income, covering all risks (with the exception of industrial accidents and occupational diseases), of which 31.7% is paid by the employer, but the remaining 9% by the employee.
Agricultural enterprises, non-profit organizations, small businesses, foreign-owned companies and companies employing disabled people can apply for tax relief. In fact, Lithuania provides the most favorable conditions for the growth of micro-enterprises compared with the other Baltic states.
Personal income tax
The gradual reduction in personal income tax began in 2006. Today, all individuals are required to pay 15% personal income tax if they are employed or self-employed. If the person qualifies as a permanent resident, income tax is calculated on the basis of income received by the person in Lithuania and abroad. Foreign residents pay tax only on the portion of their income earned in Lithuania. To be considered a Lithuanian resident, a person must live in Lithuania for at least 183 consecutive days in any 12-month period.
People earning less than the minimum tax-free income are practically exempt from personal income tax. The minimum tax-free income is calculated as follows: STANDARD NON-TAXABLE INCOME – 0.15 * (SALARY – MINIMUM SALARY). At present, the standard non-taxable income is 300 euros and the minimum wage is 555 euros. Below is an example of how to calculate tax-free income amounts for a salary of 555 euros and a salary of 1000 euros.
- Salary of 555 euros
- Salary of 555 euros – minimum salary of 555 euros = 0 euros
- 0.15 * 0 EUR = 0 EUR
- 300 EUR non-taxable standard amount – 0 EUR = 300 EUR non-taxable income
- Salary of 1000 euros
- Salary of 1000 euros – minimum wage of 555 euros = 445 euros
- 0.15 * 445 EUR = 66.75 EUR
- 300 EUR tax-free standard amount – 66.75 EUR = 233.25 EUR tax-free income
Les personnes handicapées et les mères célibataires (pères) sont également exonérées de l’impôt sur le revenu des personnes physiques, et l’impôt n’est pas déduit des pensions et des bourses.
Property tax
Property tax in Lithuania varies from 0.3% to 3%. Private property is generally taxed at 1% on the value of the property exceeding 220,000 euros. This threshold is raised to 286,000 euros for families with at least three minor children (under 18) or a disabled child requiring special care. It should also be noted that, in each particular case, the actual property tax rate is regulated by the local municipality (although it must remain within the range mentioned above).
Property tax
In Lithuania, property tax comprises only the payment of property tax, and the provisions for calculating and paying this tax are set by municipal and district councils. The object on which property tax is levied is private land, and its annual rate varies from 0.01% to 4% of the value of the land (in the case of a forest, the tax rate does not include the value of the trees).
New landowners must pay the tax for the entire year if the land is purchased in the first half of the year. However, if the land is purchased in the second half of the year, the tax must be paid from the following year onwards. If the land is sold in the first half of the year, the tax does not have to be paid for that year, but if it is sold in the second half of the year, the tax must be paid for the whole year.
Excise duty
Le droit d’accise envisagé pour ajuster la consommation des biens destinés à être vendus dans le pays est perçu sur les produits suivants :
- ethyl alcohol, undenatured spirits and alcoholic beverages, including beer;
- tobacco and tobacco products;
- coffee, chocolate and foods containing cocoa;
- jewelry, gold and silver, with the exception of imitation jewelry and coins;
- motor fuel, with the exception of aviation fuel, and diesel fuel;
- luxury cars;
- electricity;
- publications of an erotic or violent nature.
Excise duty is not levied on alcoholic beverages and their raw materials imported by state-owned enterprises authorized to produce alcoholic beverages, or on exported goods.
Inheritance tax
The amount of tax is calculated based on the value of the taxable inherited property, applying the following tax rates:
- if the value of the taxable inherited property does not exceed EUR 150,000 – 5%;
- if the value of the taxable inherited property exceeds EUR 150,000 – 10%.
Tax is not levied on property inherited by the surviving spouse after the death of the other spouse, on property inherited by children (also adopted children), parents (also adoptive parents), guardians (curators), persons under guardianship (children in care), grandparents, grandchildren, brothers and sisters, and on inherited property whose taxable value does not exceed 3,000 euros.
Value-added tax (VAT)
VAT is not calculated and paid to the budget by persons whose income is derived from the sale of goods and the provision of services (with the exception of long-term investments) which are in the public interest, such as food, postal services, etc.
The VAT rate in Lithuania is 21%.
VAT registration
Foreign entities must register as VAT taxpayers in Lithuania if :
- they start VAT-registered economic activity in Lithuania,
- they purchase goods in Lithuania from taxable entities established in other EU member states and the value of the goods purchased during the calendar year exceeds 14,000 euros,
- they purchase services from taxable entities established abroad,
- they carry out distance selling and the value of goods delivered and transported to Lithuania during the calendar year exceeds 45,000 euros.
Social security contributions
In Lithuania, the coordination of social insurance schemes operates at a relatively high level. Social insurance contributions are paid by both employers and employees. Basic contributions amount to 33.7% of total pre-tax income, covering all risks (with the exception of industrial accidents and occupational diseases), of which 30.7% is paid by the employer, but the remaining 3% by the employee. The State makes contributions on behalf of specific groups of people (partial participation in financing), such as children.
In accordance with Lithuanian legislation, there are three categories of social insurance contributions for accidents at work and occupational diseases, and the rates of social insurance contributions for accidents at work and occupational diseases payable by contributors assigned to these categories:
- category I: the employer contributes at a rate of 1% ;
- category II: the employer contributes at a rate of 0.44%;
- category III: the employer contributes at a rate of 0.28%.
Pour avoir droit aux prestations du régime d’assurance sociale, la personne doit être salariée ou indépendante et payer des cotisations. Le Conseil d’administration de la Caisse nationale d’assurance sociale et ses bureaux locaux inscrivent ces personnes sur le registre des assurances sociales. Toutes les branches du système d’assurance sociale lituanien sont obligatoires pour les salariés, mais seules certaines d’entre elles (retraite et soins de santé) sont réservées aux travailleurs indépendants. Les travailleurs indépendants peuvent s’affilier volontairement à d’autres branches.
Taxes on the state's natural resources
The aim of the Law on State Natural Resource Taxes is to increase the responsibility of natural resource users for their effective and economical use, and to compensate state expenditure on exploring natural resources and maintaining their quantity and quality. Taxes on state-owned natural resources must be included in production costs and paid into the state budget.
Lottery and gaming tax
Since 2009, the following conditions have been in force: the tax rate levied on lotteries is 5%, but the tax rate levied on bingo, totalisator and wagering – 15%.
Photos non contractual. Data at 30/06/23. *Direct debit/mail: €41 + VAT/month payable per year.
Optionally, on request and subject to quotation, we can help you to create the economic substance of your company (setting up, implementation, recruitment, organisation, development).
*The registration of a bank account* by a third party is illegal, even with a power of attorney; we invite you to be wary of sites offering to open a bank account* for you. An independent manager from our company, an account manager working for the bank, will call you to handle your request to open a bank account*. Our service is to put you in touch with the bank, not to open a bank account*. The bank has the sole right to decide whether or not to open a bank account* (art. L. 312-1, II CMF). The bank’s decision is based on the applicant’s profile and eligibility to open a bank account*. We do not open a bank account ourselves and do not guarantee the opening of a bank account*. Banking introduction* is a service obligation, not a performance obligation or a results requirement. See our other special conditions and our Terms of use, sales and privacy policy.