In order for a business to be legally registered in Lithuania, the law requires a specific incorporation process to be completed with the local Trade Register, known as the Register of Legal Entities. While the Company Registration is the most important task of the Lithuanian Trade Register, this authority has various and fundamental roles. In this article, you can discover information about the main aspects of the Trade Register. Our lawyers in Lithuania can represent international and local investors for business registration in this country.
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Requirements to register a business in Lithuania
If you want to register a company in Lithuania, you should take into account the following formalities:
- the first essential step in business registration is to verify the trade name and reserve it with the above-mentioned authority;
- the preparation of documents is done according to the instructions of the Lithuanian Trade Register;
- a standard form will also be completed with details about the company in question (company name & shareholders, capital, activities, etc.)
As soon as these steps are completed, the Trade Register in Lithuania will analyze the documents and issue a Certificate of Incorporation. However, if there are any changes or other documents are needed, the authority will contact the company representative.
What documents are needed for registering a company in Lithuania
Here are some of the most important documents needed for business registration in Lithuania:
- Articles and Memorandum of Organization are the key documents for forming a company in Lithuania;
- proof of a registered business address in Lithuania is required. This can be provided in a rental contract or title deed;
- don’t forget to also present proof of paid share capital, depending on the business entity;
- IDs/passports of shareholders and directors of the business in Lithuania are also required;
- proof of paid incorporation fee with the Trade Register in Lithuania is also required.
With these things in mind, you will only have to rely on our lawyers in Lithuania when you want to open a company in this country. We can represent you with a power of attorney in all steps.
Key Roles of the Lithuanian Trade Register
The Trade Register in Lithuania has other roles besides registering companies. For example:
- provides access to public information about companies in Lithuania;
- ensures that companies remain compliant with the legislation and that they comply with the imposed measures;
- records changes made to the company, upon notification to shareholders/representatives.
Altering company data with the Lithuanian Trade Register
If your company in Lithuania undergoes certain changes, these must also be recorded in the Lithuanian Trade Register. Basically, you must notify when changing the:
- company name,
- business address,
- company management,
- company capital, etc.
In such cases, a standard form will be filled out. But with the help of our attorneys in Lithuania, you can be sure that there is open and easy communication with the Trade Register.
Number of companies in Lithuania
Here are some statistics about the number of active companies in Lithuania:
- It is estimated that there are over 170,300 registered companies in Lithuania
- Over 56,000 companies operate in the services sector in Lithuania.
So, if you want to register a company in Lithuania, do not hesitate to contact us. We can represent you with the Lithuanian Trade Register in fulfilling all the imposed conditions & formalities. Get in touch with our law firm in Lithuania today.