• Lithuanian Private Limited Liability Company

  • SHAREHOLDERS

    Liability of Shareholders

    The liability of the shareholders of a Lithuanian Private Limited Liability Company is limited up to the unpaid amount of the shares they hold.

    Minimum Number of Shareholders

    The minimum number of shareholders of a Lithuanian Private Limited Liability Company is 1 and the maximum is 249.

    Restriction on Nationality/Residency of Shareholders

    There is no restriction on the nationality or residency of the shareholders.

    Corporate Shareholders

    The shareholders of a Lithuanian Private Limited Liability Company can be individuals and/or legal persons.

    Nominee Shareholders

    The use of nominee shareholders is not allowed.

  • DIRECTORS

    Minimum Number of Directors

    The minimum number of directors is 1.

    Restriction on Nationality/Residency of Directors

    There is no restriction on the nationality or residency of the directors.

    Corporate Directors

    Corporate directors are not allowed.

  • SHAREHOLDER MEETINGS

    Shareholder Meetings

    It is a legal requirement for every company in Lithuania to hold annual shareholder meetings. These can be held anywhere in the world.

    Annual general meetings should be held within 4 months after the end of the financial year.

  • CAPITAL

    Minimum Capital Requirement

    The minimum capital requirement for a Lithuanian Private Limited Liability Company is €2,500.

    Currency of Capital

    Share capital can only be denominated in Euros.

    Non-par Value and Bearer Shares

    Non-par value shares and bearer shares are not allowed.

    Capital Duty

    There is no capital or stamp duty imposed on the issue of shares.

  • REGISTERED OFFICE

    Registered Office

    It is a legal requirement for every company in Lithuania to have a registered office in the Lithuania, which may be used as the business address of the company.

    Company Secretary / Registered Agent

    There is no requirement for a Lithuanian Private Limited Liability Company to have a Company Secretary or a Registered Agent.

  • FOREIGN INVESTORS

    Restrictions on Foreign Investors

    There are no restrictions on foreign investors investing in Lithuanian Private Limited Liability Companies.

  • FORMATION

    Time Needed for Incorporation

    The time needed for the registration of a Lithuanian Private Limited Liability Company is 3 working days.

    Shelf companies are not available.

  • CONFIDENTIALITY

    Beneficial Owners

    The details of the beneficial owner are disclosed to the service provider and are not available on public record.

    Registered Shareholders

    The details of registered shareholders are available on public record.

    Directors

    The details of directors are available on public record.

    Financial Statements

    The financial statements are publicly accessible.

  • FILING REGUIREMENTS

    Filing with the Registrar of Companies

    An annual report of the manager (exemptions exist) and financial accountability should be filed to the Registrar of Companies

    Filing with the Tax Authorities

    Every company must submit a tax return to the Tax Authorities within 6 months after the end of its tax year.

  • RECORDS

    Accounting Records

    Every company in Lithuania needs to maintain accounting records. These accounting records may be maintained outside Lithuania.

    Financial Statements

    Every company in Lithuania must prepare a full set of financial statements in accordance with International Financial Reporting Standards (IFRS).

    Consolidated financial statements need to be prepared in cases of groups. However, small groups satisfying 2 of the following criteria can avoid the preparation of consolidated financial statements:

    • Average number of employees is less than 50.
    • Value of assets recorded in the balance sheet is less than €6,000,000.
    • Annual net sales income is less than €9,600,000.
  • AUDIT

    Audit Requirement

    The annual accounts of a Lithuanian Private Limited Liability Company need to be audited.

    An exemption to the audit requirement is available if at least 2 of the following criteria are met:

    • Average number of employees is less than 50.
    • Value of assets is less than €1,800,000.
    • Net sales income is less than €3,500,000.

Compare Lithuania to other jurisdictions and see the difference in corporation tax rates, tax residency requirements, VAT rates, capital gain taxes, etc.

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