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JSC from 200 €|Sole proprietorship from 150 €|Public institution from 150 €|Department from 200 €|Registration address from 40 €|Temporary residence permit in Lithuania from 1000 €|Accounting Services from 40 €/month|Temporary residence permit in Lithuania from 1000 €|Liquidation from 200 €|

Establishment of Private Limited Liability Company (UAB)

Establishment of a Private Limited Liability Company

 

At present we offer several options of establishment of a private limited liability company:

1. You participate in the establishment process yourself. It costs cheaper, but you have to accompany us to the bank, a notary public, centre of registers and to the venue, where the seal will be given. In addition, your authorized capital and the registered address are required. We will apply a discount to accounting services, in case an accountant is needed.

2. Establishment without your participation. This procedure is best fit for foreigners or people, who value their time. We will meet only once to transfer an established, fully prepared and registered company to you. We will temporarily contribute the authorized capital and provide you with a registered address for an unlimited period of time. In such a case we will also register your future company with the State Tax Inspectorate and the Centre of Registers (new extract) and apply a discount to accounting services (in case you need an accountant).

3. We prepare the necessary documents and you visit all the institutions without our assistance.

4. You acquire one of our available companies, which have already been incorporated.

General information is provided below. The prices and deadlines may vary depending on the option selected.

Necessary documents

 

In order to establish a private limited liability company, you must provide us with the following information and documentation:

  1. Name of the future company (or several name options). We can provide name options for an additional charge;
  2. Copies of passports and the places of residence (i. e. addresses, where the persons actually live) of the incorporators (shareholders);
  3. Copy of the passport and the place of residence (i. e. the address, where the person actually lives) of the manager (director);
  4. Address of the company’s registered office (if not provided by us):
  • If the owner (co-owners) of the premises is a natural person, he/they must sign an agreement on provision of premises at the notary public, while having a document, evidencing the rights of ownership and stating the unique number of the premises;
  • If the owner is a legal entity, an agreement on provision of premises shall be signed and sealed on the official letter form of the legal entity by the manager of the entity, stating the unique number of the premises;
  • If the premises are mortgaged – consent from the bank, to which the premises are mortgaged, is necessary.

 

After completion of the above procedures, you will have to sign a Service Provision Contract with us and pay an advance fee.

 

FAQ according to themes

Deadlines of the establishment procedure

How long does it take to have the documents prepared?

- 1 to2 business days.

How long does it take on average to establish a private limited liability company?
— 3 to5 business days.

Authorized capital

What is the minimum authorized capital?
— € 2500 (we can provide it ourselves).

What authorized capital is required from a foreign citizen, who is planning to obtain a residence permit?

- From € 2500 to € 14481.(we can provide it ourselves).

Who shall contribute the money (€ 2500) to the account?
— Either you, upon signing the act of establishment (the memorandum of association) at our office or we as per mutual agreement.

Can the authorized capital be formed by employing means other than money?
— Yes, the Law on Companies of the Republic of Lithuania provides for such a possibility however the contributions other than in cash must be valued according to the procedure established by legal acts.

How much does a bank reference, which must be provided to the notary public, cost?
— Depending on the bank, from € 0 to € 30.

Can you provide a registered address?

- Yes, the price is € 70-100.

Prices

The price of establishment of a company depends on the selected establishment option and may vary from € 300 to € 1000.

What is the average price of establishment of a private limited liability company for a Lithuanian citizen?

  1. Our services (establishment activities and full package of documents)
  2. Notary’s Public services (full confirmation, if necessary)
  3. The Register of Legal Entities
  4. Registration of business name (not mandatory)
  5. The forms of the Register of Legal Entities and other documents, required by the Centre of Registers (free of charge)
  6. Provision of the registered address or formation of authorized capital
  7. Repeated submission of the form of the Register of Legal Entities and other documents, required by the Centre of Registers (if necessary)

Other information

Which stage of establishment will require my participation?
— When contributing the authorized capital to the company’s bank account;
— When signing the articles of association and the act of establishment (the memorandum of association) at the notary public and confirming the signature of the manager of the company (once);

— When taking the company over from us (in case you choose to establish the company without your participation).

How much does an initial consultation on establishment issues cost?
— Provided free of charge.

Do you incorporate companies for foreign citizens?

—Yes, quite often. This is our specialization.

Do I need to make an appointment?
— It is not necessary, however, for your convenience, please inform us about your visit in advance.

Tel.: +370 686 18228.

Verslas123
Laisvės prospektas 60 – 1205 (Spaudos rūmai), LT – 05120 Vilnius;
Mob. Tel.: +370 686 18228 or Tel.: (+370 5) 219-71-69
Teisininkų kolektyvas
© UAB Verslas123, 2007-2015

Additional information

The number of shareholders of a private limited liability company may be from 1 to 250.

The minimum amount of the authorized capital – € 2500. The capital must be formed out of the shareholders’ monetary contributions.

A private limited liability company must have at least two employees: a director and an accountant, or a company handling the accounting.

A private limited liability company is a company, whose authorized capital is divided into shares.

Shares of a private limited liability company may not be offered for sale or traded in publicly.

Establishment of a private limited company and its activities are regulated by the Civil Code of the Republic of Lithuania, the Law on Companies of the Republic of Lithuania and other legal acts.

Shareholders shall be natural persons and legal entities of the Republic of Lithuania or other states, who have acquired at least one share of the company according to the procedure established by the laws.

Each shareholder shall have such rights and duties in the company as are incidental to the shares in the company owned by him.

A private limited liability company is managed by the General Meeting of Shareholders and the head of the company’s administration (the director, a mandatory person).

In larger companies a supervisory board and the board may be formed.

The memorandum of association (in case the company is incorporated by more than one person) or the act of establishment (if the company is incorporated by one person).

Articles of association.

Decisions of shareholders or the sole shareholder.

lDifferent forms of the Register of Legal Entities.

Information on the share control percentage.

Information on the company’s economic-commercial activities.

Information on the planned management bodies (director/board).

Planned amount of the company’s authorized capital (the minimum amount – € 2500);

Nominal value of shares.

 

Verslas123
Laisvės prospektas 60 – 1205 (Spaudos rūmai) LT – 05120 Vilnius
Mob. Tel.: +370 686 18228 or Tel.: (+370 5) 219-71-69
Teisininkų kolektyvas
© UAB Verslas123, 2007-2015