Business Set-Up in Lithuania

Who it is for

This is for people who know what business they want to run and where. The main choice left is how to set it up: as a limited company or as a sole trader (a self-employed person working in their own name).

• Sole trader: cheaper to start and to run, with less paperwork.
• Limited company: protects your personal money if someone makes a claim against the business. It also works better when there are several partners.

The choice can make a big difference to your costs.

What happens

• Your interests are protected, especially when there are several partners.
• The founding contract is prepared and signed before a notary (an official who witnesses and certifies documents).
• The company's rules are written so they include everything needed.
• With your written permission to act for you, the company is registered with all the required offices.
• Tax and ID numbers, permits and approvals are obtained.
• Help is given with opening the company bank account.
• The other company papers the law requires are prepared at the end.