When we consider foundation of companies we have to discuss two possible variants:
Founding of a JSC – joint stock company (in Lithuanian – UAB). The quickest, the most convenient and the most economical way to acquire Lithuanian citizenship, get a foothold in Lithuania as a citizen is to found a JSC. If one is an owner of a Lithuanian company, he reserves the right to become a full-blooded citizen of the Republic of Lithuania.
A company is a compulsory requirement for a non-European citizen to acquire a residence permit and to be able to procure realty in the Republic of Lithuania.
Registration of a JSC allows one to start a business as a foreigner, or to legally, upon paying appropriate taxes, transfer an existing company to Lithuania.
In its first months, in accordance with the legislation of the Republic of Lithuania, the newly found company can remain in the so-called “sleeping” period. The sleeping period can last 1-12 months. It is believed that during this period, the company prepares all the necessary instruments for work.
In future, enterprises have to perform minimal operations which would show work of the company. The funds which are deposited and withdrawn from the bank account of a company constitute the minimal operations. Income of the company has to be no less than 100 €. Furthermore, the company has to pay a monthly employee’s salary tax – 150 €.
If you intend to do business in Lithuania and in the EU, it might be useful for you to know, how much money is needed to maintain the company, particularly to pay the taxes.
Taxing of companies in Lithuania is not strict and allows businessmen to earn significant gains. There are lots of taxes, but one is not supposed to pay all of them, only those, which depend on the operations of one’s company. Tax reports are not difficult to fill in, but if need be, we could inquire specialists to help you (prices for framing of accounting and tax accounting reports in Lithuania ale low, prices for maintenance of a company vary from 100 € to 500 €).
“Imigration-europe” company provides help in registration of the following types of legal entities in the Republic of Lithuania (in Vilnius):
Documents, necessary for registration of a company:
The Imigrationeurope Company also helps with:
Main taxes in the Republic of Lithuania:
Income tax not related to labour relations – 15% (if the company, for instance, rents premises from a natural person).