Incorporation of the private limited liability company in Lithuania

Private limited liability company in Lithuania is a legal person with limited liability whose authorised capital is divided into shares.  It may be formed for any business not prohibited by the laws of the Republic of Lithuania. The amount of the authorised capital of a private limited liability company may not be less than LTL 10,000. A private limited liability company must limit the number of its shareholders to 250. The shares of a private limited liability company may not be offered for sale or traded in  publicly, unless other laws provide otherwise. A company may be incorporated both by natural and by legal persons. Every incorporator of a company must acquire shares in the company and become its shareholder. The Instrument of Incorporation shall be drawn up when the company is established by two or more incorporators. If the company is formed by one person only, the act of establishment shall be drawn up. The Instrument of Incorporation shall be signed by all incporporators or persons authorised by them. The company shall be deemed incorporated from the date of its registration in the Register of Legal Persons. The private limited liability company shall have its name defining the legal form it has taken including the words “uždaroji akcinė bendrovė” (private limited liability company) or the acronym “UAB”.

The Incorporation

 

Incorporation term: Incorporation can take up to 6-7 working days.

Incorporation expenses:

 

  1. Our services;
  2. 550 LTL for notary services (Price might change due to different notary services if needed);
  3. 198 LTL payment that must be payed to Register of Legal Persons;
  4. 56 LTL reservation of temporary name for private limited liability company in Register of Legal Persons (If you want us to do it for you, price is – 100 LTL).

 

Our services:

 

  1. Professional consultation at any questions regarding incorporation of the private limited liability company;
  2. Preparation of all needed legal documents;
  3. Representation in notary actions and in Register of Legal Persons.

 

Must-have documents and other information required in order to start and complete incorporation of the private limited liability company:

 

  1. The Instrument of Incorporation of the company shall indicate:
  • the incorporators (full name, personal number and address of the natural person; name of the legal person, legal form taken, its registration number, registered office, register in which data relating to the person is accumulated and kept and full name, personal number and place of residence of the representative of the legal person);
  • the name of the company being incorporated;
  • the persons who have the right to represent the company being incorporated and their rights and duties;
  • the amount of the statutory capital of the company;
  • nominal value of shares, the share issue price;
  • the number of shares according to classes, the rights attached to the shares;
  • the number of shares acquired by each incorporator and the number of shares according to classes;
  • the procedure and time limits for the payment for the shares acquired by each incorporator, including the procedure and time limits for the payment of initial contributions;
  • the contribution in kind and its value if payment for shares is made partly in kind;
  • the time limits for convening the statutory meeting;
  • the procedure for submitting the documents of the company being incorporated and of information relating to the statutory meeting to the incorporators;
  • compensation of incorporation costs and remuneration for incorporation;
  • the procedure for concluding contracts in the name of the company and for the approval thereof;
  • the initial contribution repayment procedure should the company be refused registration;
  • the date of signing of the Instrument of Incorporation.
  1. The Instrument of Incorporation may contain other provisions which are not contrary to other laws of the Republic of Lithuania.
  2. The Instrument of Incorporation shall be signed by all incporporators or persons authorised by them.
  3. The Instrument of Incorporation of the company, drawn up and signed in the manner laid down in this Law, shall grant the right to open an accumulative deposit account of the company being incorporated with a bank.
  4. The Instrument of Incorporation of the company shall be submitted to the administrator of the Register of Legal Persons together with the other documents prescribed by laws for the registration of the company. If the Instrument of Incorporation is amended prior to the registration of the company, the Instrument of Incorporation shall be submitted to the administrator of the Register of Legal Persons together with the amendments.

 

If the incorporator is a legal person of foreign country, additional documents are needed:

 

  1. Record confirming that the incorporator is officially registered in foreign country’s Register of Legal Persons;
  2. Submitted documents must be authorised by notary and Apostille.

 

The incorporator’s actions:

 

  1. Open up a savings account in the bank;
  2. Come to the notary to sign the instrument of incorporation or establishment act.

 

After the incorporation is finished we offer:

 

  1. Finding company’s manager for additional;
  2. VAT registration for additional;
  3. Production of stamp;
  4. Changing of bank accounts;
  5. Registration in National Tax Inspection for additional.

 

Our offer to you:

 

  1. Additional confidentiality agreement signing;
  2. Additional non-competing agreement signing with employees;
  3. Preparation of lease (Car, Premises, etc.);
  4. Shareholder‘s loan to company (making of contract).