Establishment of a new company:

What company to set up?

To decide on setting up a company, you first need to decide which kind of company is most suitable for your purposes. Having assessed the risk that you want to take, you can choose a limited or unlimited liability company. The most commonly used businesses in Lithuania are those in Lithuania.

Evaluation Criteria Small community (MB) Closed Joint - Stock Company (JSC) Public limited liability company (AB) Individual company (IĮ) Public Institution (Public Enterprise)
Number of participants From 1 to 10 members (natural persons only) From 1 (unlimited) From 1 (unlimited) 1 owner (natural person) Participants (unlimited) or 1 owner. Natural and legal persons may be established.
Minimum capital size There is no fixed, can both monetary contribution and tangible contribution 2500 € 25 000 € There is no Indefinite
Responsibility Limited liability (the company is solely responsible for its assets) Limited liability (the company is solely responsible for its assets) Limited liability (the company is solely responsible for its assets) Unlimited civil liability (the owner responds with all his property) Limited liability (the company is solely responsible for its assets)
Decision-making (voting) principle 1 member - 1 vote, however, when the MB has a manual, the regulations may stipulate otherwise If all the shares of UAB providing voting rights are of the same nominal value, each share in the general meeting gives one vote If all shares of AB holding voting rights are of equal nominal value, each share in the general meeting gives one vote The decisions are made by the owner Participants make decisions by vote. 1 voter by 1 vote
Accounting Optional accountant (bookkeeping can also be managed by MB members under SAS 38) A compulsory bookkeeper or a contract with a bookkeeping company A compulsory bookkeeper or a contract with a bookkeeping company Optional accountant A compulsory bookkeeper or a contract with a bookkeeping company

The company's establishment package includes:

  • The name of the company, reserved at the patent office;
  • Company's articles of association;
  • Corporate address (for constant use);
  • Establishment agreement;
  • Account with the bank (necessarily with online banking);
  • Translations and approvals of all necessary documents;
  • Notarized approval of statutory documents;
  • State Register of Lithuanian Enterprises - registration of a company;
  • Tax Inspectorate - registration of a company;
  • Company code;
  • Stamp;
  • Address for correspondence;
Company registration in Lithuania