The business environment in Lithuania is becoming increasingly attractive for start-ups and experienced businessmen. This is thanks to several factors that make Lithuania an ideal place to register and operate a business.
Our company is inLithuania Company RegistrationHas many years of experience. We have helped dozens of clients to successfully open and grow their business in the country, offering a full range of services from consulting to processing all the necessary documents. Our professional service attitude and in-depth knowledge of local legal details enable us to provide impeccable quality and support at every stage of your business development.
In this article, we will explore the main advantages of opening a company in Lithuania, successful Lithuanian companies and start-ups, and a step-by-step guide to the company registration process.
Lithuania-Top of international rankings
Lithuania consistently occupies a high position in various international rankings, which highlights its attractiveness for entrepreneurs. At the World BankDoing Business ReportLithuania's stable entry into the top 20 countries in the world where it is easiest to do business reflects the ease of administrative procedures such as company registration and obtaining licenses.
InTax Competitiveness IndexLithuania is one of the most tax competitive countries in Europe thanks to its low corporate tax and transparent tax system. Inindex of economic freedomLithuania also came out on top, indicating the country's low bureaucracy, guaranteed property rights and good conditions for private businesses.
Advantages of opening a business in Lithuania
Opening a business in Lithuania has many advantages that make the country attractive to global entrepreneurs.
Lithuania offers one of the lowest tax systems in Europe. The company's corporate income tax is only 15%, and for small businesses with annual income of up to 300000 euros and no more than 10 employees, the tax rate is reduced to 5%. This system contributes to the rapid development of business and the increase of profits.
The process of registering a company in Lithuania is relatively simple and quick. With the help of modern technology and electronic services, businesses can complete registration in a few days. This makes Lithuania one of the most attractive jurisdictions for entrepreneurs.
Located in the heart of Europe, Lithuania is strategically important for doing business with its eastern and western partners. Developed infrastructure and transport links ensure easy access to major European markets.
The Government of Lithuania actively supports small and medium-sized enterprises by providing various subsidies, subsidies and tax incentives. This helps new companies adapt and grow in the market faster.
Lithuania is a member of the EU, which opens the door to a unified European market and simplifies trade with other EU countries. Entrepreneurs can also take advantage of various European business support schemes.
A Step-by-Step Guide to Company Registration in Lithuania
If you decide to start a business in Lithuania, it is important to understand the main steps required for the successful registration of a company.
Select Company Type. In Lithuania, a variety of business forms can be selected, such as private enterprises (UAB), joint-stock companies (AB) and personal enterprises (II). The most popular form is the UAB (closed joint stock company) because it combines the simplicity of management with limited liability.
Select Company Name. Your company name must be unique and comply with Lithuanian law. You can check the availability of the name in the online business registration system.
Opening a bank account. After choosing a name, you need to open a bank account in one of the banks in Lithuania. UAB has a minimum registered capital of € 1000, which must be deposited into an account.
Register a company in the Registry of Legal Persons. The next step is to register the company in the Lithuanian Registry of Legal Persons. To do this, you need to submit an application and the founding documents of the company, such as the charter and the minutes of the meeting of the founders.
Successful Lithuanian companies and start-ups
Lithuania has become the birthplace of many successful companies and start-ups that have won international recognition and attracted significant investment. A notable example isPaysera, a Lithuanian company that provides a wide range of financial services, including international money transfers and online payments. Founded in 2004, Paysera has grown from a small start-up to a large multinational company with offices in several countries, becoming a leader in the FinTech market in the Baltic region.
Another example isRevolut. Although the company was founded in the UK, its founder Nikolai Stolansky and co-founder Vlad Yachenko have strong ties to Lithuania. Revolut actively expanded its business in the country and chose Lithuania as its base for obtaining a European banking license. This highlights the importance of Lithuania for the future development of the company.
Vinted-Europe's largest online trading platform for second-hand clothing and accessories. Founded in Vilnius in 2008, Vinted quickly expanded its business to dozens of countries, attracting millions of users worldwide. Vinted has become one of Lithuania's most successful startups, attracting hundreds of millions of euros in investment.
It is also worth mentioning thatTransferGo, a Lithuanian fintech startup focused on international money transfers. Founded in 2012, the company provides fast and low-cost cross-border remittance services to more than 160 countries around the world. TransferGo is growing rapidly and attracting significant investment, becoming a significant player in the global remittance market.
These companies and start-ups demonstrate the great potential of Lithuanian business and highlight the attractiveness of Lithuania as a place to develop innovative projects. The success of companies such as Paysera, Revolut, Vinted and TransferGo proves that Lithuania offers excellent conditions for growth and international expansion.
Conclusion
Starting a business in Lithuania is an excellent choice for those who want to open a company in Europe at the lowest cost and with the greatest growth opportunities. Lithuania offers a favourable tax regime, a simple registration process and broad access to the European market. Successful companies like Paysera, Revolut, Vinted and TransferGo show that Lithuania offers superior conditions for business development and innovation.
If you are ready to take the first step and start a business in Lithuania, follow our step-by-step guide and take advantage of all the advantages this country has to offer.
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Fall 2023 Top Cryptocurrency Jurisdictions! Enjoy our exclusive offer!
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Register a crypto company in Costa Rica from 3000 euros.
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Start your cryptocurrency business with confidence in one of the world's leading financial centers
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