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Buckingham Capital Consulting Ltd  |   One Kingdom Street, London, W2 6BD  |  Telephone: 0800 689 0501  |   Email: Info@buckinghamcapitalconsulting.co.uk

Registered in England and Wales registration number: 08744241

 

Copyright 2013 - 2020 Buckingham Capital Consulting Ltd

    Procedure to setup a company in Lithuania

    This article looks at the formation and setup of a company in Lithuania.


    The Company law and the Civic Code of the Republic of Lithuania set out the legal framework for the formation of companies in Lithuania.



    How to set up a company in Lithuania - choose your company type


    There are four types of company types in Lithuania:


    1. public limited company (AB)

    2. private limited company (UAB)

    3. general partnership (TUB)

    4. limited partnership (KUB) branch


    The most common type o company formation in Lithuania is a limited liability (UAB). Businesses are required to register with the Register of Legal Persons.



    How to set up a company in Lithuania - requirements


    1. The articles of association of the company are required to be drawn up. Where the director/shareholder of the company is a single person, the act of establishment of the company must be drawn up.


    2. The director/shareholder may submit to the Register of Legal Entities an application (form JAR-5) for temporary inclusion of the name into the Register.


    3. Opening of a company bank account as per the articles of association.


    4. Subscribed shares are paid. You must make an initial share capital contribution of EUR 2,500.


    5. Approval of company formation by a general meeting between the shareholders.


    6. Drawing up and signature of statutes.


    Following the above steps, the company formation will have been completed and established upon registering with the Register of Legal Entities.


    A company registration fee of EUR 57.34 is charged for the limited liability (UAB) company formation.



    Next Steps


    Buckingham Capital Consulting is a leading international consulting firm, specialising in payment services, electronic money, banking and investment services. For more information, visit our website on www.buckinghamcapitalconsulting.com


    Call us today on 02078662512 or 442078662512 if you are calling from abroad. Alternatively, please send an email to info@buckinghamcapitalconsulting.co.uk to arrange a telephone call or to discuss your requirements and plan. We are also able to arrange calls or conference calls using Skype. Our Skype ID is BCC54321. If you wish, we can arrange a meeting at one of our offices.