In terms of time, company incorporation times vary depending on the type of company and the way chosen for the incorporation. However, in order to do so, a hefty number of documents need to be completed, approved using an electronic signature or a handwritten signature and presented to the necessary bodies at all times. This requires considerable time costs and even patience.
We are here to do the job together with you. We help set up private limited liability companies (UAB) and small partnerships (MB), or, where required, other enterprises with different legal forms (sole proprietorships (IĮ) or public enterprises (VšĮ)). We offer advice and we complete any necessary documents for you.
We have experience in setting up foreign capital companies in Lithuania. We offer advice on the matters concerning the incorporation of foreign capital companies in Lithuania, provide all necessary information, help complete the required documents and refer you to the bodies you need.
At present, there is an option of setting up a company online. All incorporators may sign any necessary documents using an electronic signature or a mobile signature. A company may be often set up without even leaving one’s home as the process requires one to simply log into the self-service system of State Enterprise Centre of Registers. The system can be accessed using the following e-signatures:
Setting up a company electronically is faster as there is no need to go anywhere, whereas the documents can be filed even while on holiday or outside of business hours. There is no need to agree the time for the meeting of all incorporators, where there are multiple of them. Setting up both a private limited liability company (UAB) online and a small partnership (MB) online or setting up another company is cheaper in terms of costs because of the absence of the fees for the services of a notary public. However, this method of company incorporation requires the company’s shareholders to be Lithuanian nationals, while the company’s name must meet the Company Name Formation Regulations. Unless both of the mentioned requirements are met, the services of a notary public will be required.
Setting up a company at a notary public office takes longer in terms of time than online as it requires a package of documents to be drafted. If one of the incorporators is a foreign national or a foreign company, then documents must be translated and approved; also, physical presence at a notary public office is required, and the notarised documents have to be delivered to State Enterprise Centre of Registers afterwards. It comes at a higher cost as includes additional notary public, translation and drafting services. However, where a company is incorporated at a notary public office, there is no need to have an electronic signature and there is a chance to have more detailed documents drafted with customised company regulations or other clauses established, and provisions may be made for the company’s share capital to be paid up not only in cash, but also using other types of assets.
A private limited liability company (Lithuanian abbreviation - UAB) is a private legal person with limited civil liability. This means that the company’s shareholders are not liable, to the extent of their personal property, for any default of the private limited liability company’s (UAB) obligations or any of its obligations or liabilities that have not been fulfilled.
The share capital of a private limited liability company (UAB) is at least EUR 2,500. Shareholders can be both natural and legal persons. Depending on their capital contribution, shareholders receive a respective number of shares.
We can prepare all necessary documents for you to have a company set up independently. We can help set up a company online and coordinate incorporation process at a notary public office. We offer advice on all incorporation matters.
The fees for having a private limited liability company (UAB) set up often depend on the complexity of the incorporation process. State-regulated fees:
Other fees will be subject to the complexity of incorporation and the need for more in-depth analysis.
A small partnership (Lithuanian abbreviation - MB) is a private legal person with limited civil liability. Members of a small partnership (MB) are not liable, to the extent of their personal property, for the default obligations of the small partnership or any of its obligations or liabilities that have not been fulfilled.
The incorporators of a small partnership (MB) may be only natural persons, while their number must not exceed 10. A small partnership does not have any minimum value fixed for its share capital. And the partnership’s profit share is calculated pro rata to the contribution of an individual member.
Setting up a small partnership (MB) is a fairly straightforward process because a partnership may be registered online in just a couple of hours. Registering a small partnership (MB) is very similar to that of a private limited liability company (UAB). To do so, you will be required to:
We can fill out all necessary partnership incorporation documents online together with you. In order to do so, you only need to have a qualified electronic signature during our meeting. In addition, we can offer advice on matters relating to the incorporation of a small partnership (MB).
The fees for having a small partnership (MB) set up often depend on the complexity of the incorporation process. State-regulated fees:
Other fees will be subject to the complexity of incorporation and the need for more in-depth analysis.