GSL / Offshore and International Law. Offshore companies registration. / Offshore zones / Legislation of Lithuania

Legislation of Lithuania

Service packages Legislation Tax System Audit Services

List of laws and regulations

Act name
Scope of law
Civil Code
Civil Code
Law on companies
Companies
Law on the prevention of money laundering and terrorist financing
AML
Law on corporate income tax
Corporate income tax
Law on value-added tax
VAT
Enterprise bankruptcy Law
Bankruptcy
Your Consultant
Поиск консультанта...

Поиск консультанта...

+44 0 207 822 85 93

Tax treaties entered

Armenia
Austria
Azerbaijan
Belarus
Belgium
Bulgaria
Canada
China
Croatia
Cyprus
Czech Republic
Denmark
Estonia
Finland
France
Georgia
Germany
Great Britain and Northern Ireland
Greece
Hungary
Iceland
India
Ireland
Israel
Italy
Japan
Kazakhstan
Korea
Kosovo
Kuwait
Kyrgyzstan
Latvia
Liechtenstein
Luxembourg
Macedonia
Malta
Mexico
Moldova
Morocco
Netherlands
Norway
Poland
Portugal
Romania
Russian Federation
Serbia
Singapore
Slovakia
Slovenia
Spain
Sweden
Switzerland
Turkey
Turkmenistan
Ukraine
United Arab Emirates
United States of America
Uzbekistan

Tax Exchange Information Agreement (TIEA)

List of state regulatory authorities

President
https://www.lrp.lt/en
Government
https://lrv.lt/en/
Seimas
https://www.lrs.lt/sip/portal.show?p_k=2&p_kade_id=9
Ministry of Foreign Affair
https://www.urm.lt/default/en/
Ministry of Finance
https://finmin.lrv.lt/en/
VMI (State Tax Inspectorate)
https://www.vmi.lt/evmi/en/home
Bank of Lithuania
https://www.lb.lt/en/
MIGRIS, Electronic migration services
https://www.migracija.lt/home?-1045199246
Register of Legal Entities
https://www.registrucentras.lt/jar/index_en.php

Corporate info

Legal system
Romano-Germanic legal family
Types of entity
Individual enterprise;
Joint-stock company (AB);
Closed Joint Stock Company (UAB);
General partnership (TUB);
Limited partnership (KUB);
Branch or representative office
Shelf companies permitted
Yes
Incorporation timescale for a new company
2-4 weeks
Company suffix
The name of the company must contain an indication of its legal form: “akcinė bendrovė”, “AB”, “uždaroji akcinė bendrovė”, “UAB”, etc.
Sensitive words
Symbols and numbers are not allowed, except for “name.lt”, trademarks, names of parent companies
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
Yes
Information to be kept at the registered office
Corporate documents, reporting
Seal required, type of seal
Seal is not required
Redomiciliation (to, from) permitted
Not permitted

Director and secretary

Minimum number of directors
1
Residency requirements for directors
No
Corporate directors permitted
No
Directors’ meetings/frequency/location
No requirements
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
No
Residency requirements for a secretary
No
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
Minimum - 1, maximum - 250
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
No limitations
Disclosure to local agent
Yes
Disclosure to public
Yes
Beneficiary info disclosure to
Yes

Shares and share capital

Minimum authorized share capital
2 500 EUR
Minimum issued share capital
2 500 EUR
Minimum paid share capital
2 500 EUR
Authorized capital payment deadlines
When registering a company
Issued capital payment deadlines
When registering a company
Standard currency
EUR
Standard authorized share capital
2 500 EUR
Standard par value of shares
1 EUR
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
20% / 32%
Сorporate tax
15%
Corporate tax (in detail)
The standard rate is 15%. However, small companies and agricultural enterprises may apply a reduced rate of 0% or 5% under certain conditions
Capital gains tax
15%
Capital gains tax. Details
Regular rate
VAT
21%
VAT. Details
The standard rate is 21%. However, there are reduced rates - 9% and 5% - for certain goods
Withholding tax
15% (dividend), 10% (interest), 10% (royalty)
Other taxes
Customs duties, Excises, Land tax, Land lease tax, Real estate tax, Payroll taxes, Social insurance contributions
Exchange control
No
Government fee
Yes
Stamp duty
Нет

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
No
Requirement to file Annual Return
Yes
Publicly accessible Annual Return
No
Audit required
No

General information shortly

Location
North Europe
Total area
65 302 square kilometers
Population
2 790 472 (2019)
Capital
Vilnius
National currency
Euro
Conditional reduction of currency
EUR
Against USD
1,09 (2024)
Climate, average max and min t°
Transitional: from maritime to continental
Time difference from Moscow
No
Dialing code
+ 370
State language
Lithuanian
Ethnic groups
Lithuanians - 84,6%; Poles - 6,5%; Russians - 5,0%; Belarusians - 1,0%; Ukrainians - 0,5% and others
Literacy rate
99,82% (2024)
History
—
Credit rating
A+
Government type
Unitary parliamentary republic
Executive branch
The highest body of executive power is the Government
Legislative branch
The highest legislative body is the Sejm (unicameral parliament), consisting of 141 deputies
Judicial branch
Courts of general jurisdiction: Lithuanian Supreme Court, Lithuanian Court of Appeal, district courts
Unemployment
6,5% (2023)
GDP per capita rank
40 (2021, IMF)
Corruption perceptions index rank
Corruption Perception Index - 6.5% (2023)
Need a consultation from a specialist?
Share on social media:
RU EN