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Company Registration in Lithuania

Business Law

The most common method of investment in the Republic of Lithuania is through the incorporation of a private or public limited liability company (UAB or AB) under the Law on Companies of the Republic of Lithuania, or through the acquisition of shares in existing Lithuanian companies. Still, the most popular form of doing business in Lithuania is through the establishment of UAB. A comparison of the main features of private limited and public limited companies is presented in the table.

Requirements for the formation of the business	Private limited company - UAB	Public limited company - AB
Minimum authorized (share) capital	Approx. EUR 2.900	Approx. EUR 43.450
Maximum number of share-holders (if any)	249	Not established
Minimum number of share-holders (incorporators)	1	1
Liability of shareholders	Limited	Limited
Audit	Not mandatory	Mandatory
Public trading in securities	Prohibited	Allowed

Company Registration

Registration of a UAB requires taking the following steps: (1) lodge an application for reservation of the UAB name to the Centre of Registers; (2) prepare the incorporation documents according to establishment documents model; (3) open an accumulative bank account; (4) register the UAB in the Centre of Registers. The estimated time for incorporating a UAB company is about 2 weeks after all the incorporation documents are duly executed. The company shall be deemed incorporated from the date of its registration in the Register of Legal Entities.

Shareholders

The shareholders of an AB or UAB may be Lithuanian or foreign individuals or legal entities. There are no restrictions or special encumbrances set for, with respect to foreign shareholders under the Law on Companies of the Republic of Lithuania. Lithuanian laws do not restrict in any way the participation of foreigners in the management of Lithuanian companies. Foreign citizens may be freely elected either by the supervisory council or the board or the position of CEO. However, if foreign citizens are employed in the company (employment is mandatory only for the CEO), they must obtain temporary residence permits. These permits are normally valid for up to one year.

Doing business

The World Bank ranks Lithuania 27th out of 183 world’s economies on their ease of doing business. In the ”Doing Business 2012: Doing Business in a More Transparent World” report Lithuania is ranked higher than Belgium, France, the Netherlands, Luxembourg, Spain, Austria, and Italy. Lithuania is listed particularly high in the Property Registration category (7) and the Contract Enforcement category (15). The country has even stepped by 28 positions up to the 65th rank in the Protecting Investors category.

Limited Liability Company (UAB)

We are offering to buy a ready made company, or we can register fresh company under your given name in Lithuania (Eastern Europe, Schengen zone), too.

What that means Ready Made Company?

We always have companies (Limited Liability Company), who are ready to be sold to our customers. You do not need to come to Lithuania to sign documents. We will send documents to you by email, then you should sign them and send us back by a courier. After we get original documents, within several weeks we will send to you company documents (under your name). Companies are totally new and without any activities in the past - clear history. Companies have neutral names. Statute of the company allows to do any legal business all over the world.
Company should have:

one General Manager;
minimum one Shareholder (maximum is unlimited);
general Manager and Shareholder can be the same person.

When you buy a company, you will get:

Company documents (Act of company establishment, Statute, company bank account documents, List of the Shareholders, Balance sheet, Shareholder resolution, Appointment of the company Managing Director, Agreement of Purchase and Sale of Shares, Company stamp).

How to purchase a company?

1. Login to our On-Line shop directly by this link – BON SHOP
2. Log In or register your new account.
3.Choose company from a list and follow the steps. After prepayment of 50%, lawyers will prepare documents for Government Institutions about new Shareholder and Managing Director and will send documents by email to your provided email.
4. You should sign each document in 3 copies and send us the original ones by a courier.
5. After we receive documents from you, lawyers will bring documents to Government Institutions. Within 7 workdays we will get approved answer about new Shareholder and Managing Director. We will scan documents and send to you by email.
6. When we will get remaining amount (50%), we will send documents to your country by a courier.

With Lithuanian company documents you can apply for European (Schengen zone) visa on the basis that you own a business in Lithuania.

Money-back guarantee

Long-term experience accumulated our experts are fully responsible for their quality of work and results. Good relationship with the Department of Immigration, Tax Inspectorate, the Social Insurance Inspectorate, Centre of Registers and other state and non-state institutions helps to ensure the highest quality services.

We do not operate in automatic machine principle and look deeper into the needs of each client. Whether it is business acquisitions, advice on migration, finance, accounting, or other issues - this is a unique process.

Only in this way we can ensure the highest quality services. Therefore, we provide our clients 100% money back guarantee if due to our fault you do not receive a temporary residence permit. We also guarantee that the company You will purchase has no debts or other liabilities. Our accounting services are insured, so if fees are wrong calculated, we or our insurance company will cover all losses.

RESIDENCE PERMIT

Process time for a temporary residence permit for each country depends on that country's laws. Usually it takes 2-6 months. If you have additional questions, the Migration Department may extend length of the proceeding up to 3 months. The answer may be a negative if the client:

- Was deported;

- Punished for crime;

- Has records in the police department;

- Other negative entries of personal biography;

- The information about the client is false, untrue;

- Going to false immigration.

If it turns out that the negative response to the temporary residence permit is due to one of these reasons, we will not return your money.

If the client has a clean biography and correct data about him/her, but due to our fault do not receive a temporary residence permit, in this case within 30 days we will return 100% of his/her money and will not ask for any compensation concerning experienced costs.

Business acquisitions and start-up

All of our sales companies do not have any debts or obligations. If you buy a new company (without any history), the company has absolutely no bookkeeping records. If you are going to buy an existing company with a history of activity, in this case you will provide the company financial reports and you will be able to assess the Company's status. If after the acquisition of the company, there would be unforeseen events and it would be our fault, we will take all the responsibility on ourselves.

Accountancy services and consultations

We take full responsibility for the provision of accounting services. Our accountants have many years of experience, good skills in preparing various reports to the state institutions; also we provide representation during an inspection. We look very responsibly to our work that is why we insured our employees from the possible errors, so if fees are calculated wrongly, we or the insurance company will compensate them.

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