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 Buy Company OnLine Home About Lithuania Business environment Registering company in Lithuania Maintenance of a Company Live and Work in EU Advantages of immigration Temporary Residence Permit Scheme of starting business Services Contacts About Us Embassy info FAQ 
| FAQFREQUENTLY ASKED QUESTIONS 1. How many foreign employees can work in Limited Liability Company company? In Lithuanian Limited Liability company should work minimum one worker - Managing Director, maximum is unlimited. If worker do not have company's shares, then he should get work permit from Lithuanian Labor Exchange. 2. How many share holders can invest in this company? 3. Can we do business only in Lithuania? If you have LithuanianTemporary Residence Permit under company basis, then you should have minimal salary, which is 800 Litas (~230 Eur) per month,from this amount every month you should pay Social Security Tax and Income Tax (total is 55%) that means tha your company should pay 440 Litas (~127 Eur) Tax every month to keep safe your Temporary Residence Permit. 5. Can foreigner buy real estate, car or other property in Lithuania? 7. I want to purchase a company, what is the process? 1. Customer should sign a contract
with BUSINESS ON group about registering a company and provide us
documents we need for starting the process. Customer should provide:
3. We will prepare needful documents and send you by e-mail, then you should sign them and send us back. 4. In 2-3 weeks (if you are buying ready made company, then it takes ~5 working days) BUSINESS ON group prepares pack of documents (Record from Centre of Registers about Managing Director and the Share holders, bank account documents, company stamp, company address of registration, other company documents, government fee, TNT/DHL courier expenses are included in the price, no hidden taxes) 5. Scanned copies of all documents will be sent to a Customer, Customer pays remaining 50% of BUSINESS ON fees according to the contract. 6. Originals of all needed documents will be sent by currier (DHL or TNT) to Customer. 8. Can I get business visa, if I show to embassy Lithuanian company documents? Yes, you can get business visa which will be valid in European Union (Schengen zone). Visa can be issued for maximum 1 month (if you never been in Europe) and you can get business visa for 3 months (if you have ever been in Europe). The following documents are required for any short term Schengen visa application in embassy: - Lithuanian company documents (which you should purchase) - valid passport - travel medical insurance - bank statement (usual for 6 months period) - cover letter explaining purpose of the visit - Proof of hotel reservation and air ticket reservation. 9. For which reasons TRP or visa can be rejected? Mostly all rejections are for very simple things. When you are going to apply for visa or TRP you should know basic things: where is Lithuania, what is climat of Lithuania, what is language and neighbours of Lithuania, what is the population. What are you going to do there? Other important thing that your life history should be clear, no criminals, no deportation etc. You should understand English, otherwise it will be hard to answer questions in embassy. Embassy can ask you to show your bank account statement for 6 month period. We recommend to show documents of the company, you are working in your country. 10. How much you will refund if TRP or visa will be refused? We will refund all amount if it will be because of our fault, for example, incorrect documents. Other wise if TRP or visa is refused because of clients fault, for example, he does not know where is Lithuania and client does not understood questions in embassy, then all amount stays in our account. 11. When I buy a company, which documents I will get? You will get these company documents: 1. statement from Register Center about Managing Director of company 2. List of the shareholders 3. Shareholders resolution (election about company's Managing Director) 4. Bank account documents 5. Company stamp 6. Agreement of purchase and sale of shares, 7. Company Statute 8. Incorporation act. 12. Can non EU person register his own firm without involving any EU resident person? Yes it is possible. Non EU person can have 100% company shares and at the same time can be company Managing Director. 13. How many days it will take to prepare company documents and documents for Temporary Residence Permit? To prepare all needfull documents it will take about 3 weeks after prepayment. 14. How to apply for Temporary Residence Permit (TRP)? To prepare needful documents for TRP it will take about 3 weeks. There are two ways to apply for TRP: A) you can come to Lithuania and apply to TRP in Migration Department of Lithuania. B) You can apply for TRP in embassy of Lithuania. Please find nearest embassies of Lithuania here. After application, Migration Department should issue TRP within 2-6 months (regulated under Lithuanian Law). For this reason if you come to Lithuania to apply for TRP, after application you should leave Lithuania until your TRP will be ready, Migration Department will send invitation letter to come to Lithuania to collect TRP document. If you apply for TRP in embassy of Lithuania then this process will take approximately 1 month longer (because documents should be sent by courier to Lithuania). After your documents will be inspected in Lithuania, Migration Department will send invitation letter to come to Lithuania to collect your TRP document. PLEASE DO NOT HESITATE TO CONTACT AS AT ANY TIME IF YOU HAVE MORE QUESTIONS |
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