Introduction to setting up a Lithuanian subsidiary
Lithuania is a relatively small business market but with its prime location, business in Russia and Western and Southern Europe is easily accessible. A developed network of transport links connects the country to these extensive consumer markets, making it a profitable investment. Foreign investors can also benefit from a non-discriminatory business environment and free transfer of dividends and capital.
What are the main formalities of a Lithuanian subsidiary?
- There is no minimum share capital required
- The Articles of Association of the subsidiary
- The resolution of the parent company detailing its decision to form the subsidiary
- A manager of the subsidiary
Submission of the documents shown above is required for registration of the subsidiary with the State Enterprise Centre of Registers.
All the required documents must be officially notarised, apostilled and translated into Lithuanian by a sworn translator.
What are the accounting requirements of a Lithuanian subsidiary?
The subsidiary must register with the Lithuanian Revenue Authority for taxation purposes.
Submission of accounts and declarations can be completed online through the Electronic declaration system (EDS). Monthly VAT returns and annual tax returns should be filed.
A Lithuanian bank account should be set up in order to deposit the required amount of share capital.
Please visit our partners Accountancy In Europe for further information on accountancy services and tax rates in Lithuania.
Subsidiary Formation Packages
We will handle the entire process of subsidiary formation on your behalf. Our experience and expertise is utilised in our subsidiary formation packages, providing a comprehensive service including VAT registration and bank account set up. You can leave the incorporation process in our capable hands, freeing your valuable time to focus on sustaining the success of your business.
Please contact us using the form below for further information on establishing Lithuanian subsidiaries.