Can I register a company online in Lithuania?

Yes, you can register a company online in Lithuania. The country offers a modern and digital-friendly infrastructure for entrepreneurs, making the company registration process efficient and accessible.

Here's what you need to know about registering a company online in Lithuania:

• Official Portal The registration is carried out through the official online portal of the Register of Legal Entities (Registrų centras), which serves as the central Lithuanian business registry.

• Remote Registration Foreign founders do not need to be physically present in Lithuania to register a company. It's possible to complete the process entirely remotely.

• Foreign Ownership There are no nationality restrictions, and foreigners can own 100% of the shares and serve as directors.

• For EU Citizens Citizens of the European Union can register a private limited liability company (UAB) or a branch of a foreign company online using the electronic Self-Service system of the Centre of Registers. They can log in and submit applications with electronic identification means issued in their own country.

• For Non-EU Citizens/Remote Assistance Most foreigners, especially those outside the EU or who prefer not to handle the paperwork themselves, grant a Power of Attorney to a local agent or law firm. This representative then handles the registration process on their behalf.

• Speed The process is generally fast, with a private limited company (UAB) potentially being set up in just a few days or within 1 to 4 weeks, depending on various factors like bank procedures.

• Company Types Online registration is available for various legal entities, including private limited liability companies (UAB), small partnerships, public enterprises, associations, charitable and sponsorship funds, and individual enterprises.

General Steps for Online Registration: While specific steps might vary slightly depending on whether you're handling it yourself or using an agent, the general process includes:

1. Choosing a Legal Form Most foreign investors opt for a Private Limited Company (UAB) due to its simplicity.

2. Preparing Company Name and Documents This involves selecting a unique name and getting approval, as well as drafting Articles of Association.

3. Registered Address and Share Capital You'll need a local legal address (which can be a virtual office) and to deposit the required share capital. For a UAB, the minimum share capital is typically €2,500, with at least 25% needing to be paid initially.

4. Notarization Some documents may require notarization.

5. Submission to the Centre of Registers The application and supporting documents are submitted to the Register of Legal Entities, often electronically.

6. Tax and Social Security Registration After incorporation, the company needs to register for taxes and social security.

7. Open a Corporate Bank Account A corporate bank account is essential for business operations.

Lithuania's commitment to a digital-first government and streamlined procedures makes it an attractive option for entrepreneurs looking to establish a business within the EU.