Setting up a company

Setting up a company has never been easier! Establish your business in just 3-5 business days, either electronically or in person. If you have a business idea but are unsure about the required documents, steps, or share capital, our experts will guide you through every stage of the company formation process, ensuring a smooth and successful registration.

Company formation – fast and simple

Starting your own business is an exciting new chapter in your life. However, company formation can be complex, requiring not only financial resources but also time and expertise. That’s where we come in!
Our team simplifies the company registration process, ensuring a fast and hassle-free experience. Depending on the type of business entity you choose, all documents are processed within 3-7 business days. In other words, if you start today, you could be the director of your new company by next week!

Opening a company involves several stages. To ensure a smooth process, our team is ready to help bring your business ideas to life. If you have already defined your business goals, chosen a name, and decided on the legal form of your company, we will guide you through the next steps. Company registration and document processing are our specialties—we handle them quickly and professionally.

Why Register a Company in Lithuania?

Company registration is one of the first steps to implementing your business idea. If you have decided to establish a company in Lithuania, it is an excellent choice, as this country is strategically a great intermediary between the Western world and the CIS, Russia, Belarus, and Ukraine. Lithuania is a great country for doing business, as it has low profit tax rates, a stable economy, and, of course, a secure financial sector. Therefore, if you want to meet global standards and elevate your company to a higher level, we recommend Lithuania. We will also provide you with even more advantages of why it is worth registering a company in Lithuania:

• There is no double taxation
• There are no exchange controls
• Trade within the European Union operates without customs barriers, allowing for smooth and efficient movement of goods and services across member states
• Corporate income tax ranges from 5% to 15%
• The registration procedure takes no more than 5 days
• It grants the right to obtain VAT (Value Added Tax) registration

Company Formation Stages

Company formation can be a complex process that requires effort and careful planning. It can be done in two ways – online or through a notary. To ensure a smooth and successful setup, here are the key stages of the company formation process you should pay attention to:

• Once you’ve selected a name that aligns with your company’s concept and is suitable, it must be reserved in the Register of Legal Entities. This step ensures that your chosen name is unique and available for use, protecting it from being claimed by another business. Reserving your company name is a crucial part of securing your brand identity and starting your business on the right foot;
• The required documents for company formation depend on the type of company you’re establishing. However, the general documents needed include: Articles of Association, Shareholder and Director Identification, Other Specific Documents;
• According to the law, every company must have a registered address and register its headquarters. This address serves as the official location where all legal correspondence is sent and is essential for company registration. It can be a physical office, a commercial space, or, in some cases, a virtual office, provided it meets the legal requirements;
• Share Capital Formation – The required share capital varies depending on the type of company being established. For instance, when forming a UAB (Private Limited Liability Company), a minimum share capital of 1,000 EUR is required. This amount must be deposited into the company’s designated bank account, and a certificate will be issued confirming that the share capital has been successfully formed. Trust our experts to guide you through the share capital formation process efficiently and ensure smooth company registration.
• Document Certification by Notary (if not registering online – not required);
• Once the documents have been notarized, you simply need to submit them to the Register of Legal Entities. The Register will process the application and officially register the new company. This step completes the company formation process, and you will receive confirmation of your company’s registration. If you’re registering online, this step can be completed digitally without notarization;

Establishing Different Types of Companies

MyTax Team Provides Services for Establishing the Following Types of Companies:

• Private limited company (UAB) – Establishing a UAB is one of the most common services we provide, for which we will send our professional team. The minimum share capital for establishing a private limited company is 1,000 EUR. The registration of a UAB takes place only after submitting the required documents. You only need to provide your information, and we will take care of everything else and ensure that the opening of the UAB proceeds without any worries.
• The establishment of a Small Partnership (MB) is one of the fastest processes and requires no minimum share capital, making it an affordable option for entrepreneurs. A Small Partnership is ideal for small and medium-sized businesses, offering a flexible structure that supports business growth.
  Our team will handle the entire MB formation process and provide ongoing support as your company expands and new changes are needed. Let us help you lay a strong foundation for your business with ease and efficiency;
• Individual Enterprise (IĮ) is an excellent choice for entrepreneurs or farmers looking to establish a sole proprietorship. One of the key advantages of this business structure is that it requires no minimum share capital for its establishment, making it a highly cost-effective option for those starting a business independently with lower initial financial commitments. Start your entrepreneurial journey with ease, knowing that the IĮ structure is simple, flexible, and tailored to meet your needs;
• Establishing a Public (Budgetary) Institution (VšĮ) – Establishing a VšĮ (Public Budgetary Institution) may raise questions and uncertainties, as the process can take longer compared to other types of companies. However, once fully established, a VšĮ offers significant benefits. It can receive grants and donations, has no limit on the number of founders, and allows both legal and natural persons to be founders.
  Contact us, and we will provide you with all the necessary information to help establish a VšĮ and ensure a smooth formation process. Let us guide you through the steps for a successful establishment of your public institution.
• Association – an association is a legal entity with limited liability, designed for carrying out specific economic or commercial activities related to particular goals. When establishing an association, at least 3 members must be involved, and they assume responsibility for the activities of the association. Associations are typically formed for mutual interests, such as social, cultural, or professional purposes;
• Establishing a Branch or Representative Office – Expert Guidance for a Complex Process
  Establishing a branch or representative office is a more lengthy and complex process compared to forming a regular company. This process involves multiple stages and can take anywhere from a few weeks to a month. The establishment of a branch requires submitting more documents than forming a standard company. Our team is here to assist you every step of the way, providing expert support and answering any questions you may have about branch formation. Let us help you navigate this process smoothly and efficiently;
• Charity Fund – A charity and support fund is perfect for those who wish to make donations to a specific cause and contribute to socially beneficial activities. If you’ve decided to establish a charity fund, our specialists, who are experts in this field, will guide you through the process and assist in every step to ensure smooth and efficient setup.

How to Choose the Right Type for Your Future Company? The type of company you choose depends on your goals. Consider what you want to achieve: Profit-driven goals, uniting individuals with shared interests or social impact.

The most suitable company types for profit-seeking activities are UAB (Private Limited Liability Company), MB (Small Partnership), and an individual enterprise. If you are working independently, an individual enterprise is an ideal choice, whereas if you have business partners, it is worth considering establishing a UAB or MB. The choice depends on the scale of the business you plan to create;
For establishing organizations that aim to protect the interests of specific social groups, the most suitable options are setting up a Public Institution (VšĮ) or an Association;
For those providing support, establishing a charity and support fund is an excellent option.

If you’re unsure which legal form is most suitable for your business development, we offer detailed consultations with our specialists. At MyTax, company formation is a common practice, and we are happy to share our expertise and knowledge with you. Our goal is to make the process of establishing your new company as simple and efficient as possible, saving you valuable time. Feel free to ask any questions, and we’ll ensure that the opening of your company proceeds smoothly with no doubts or unclear aspects. We are here to support you every step of the way!

We offer the following company formation services:

• we prepare and handle all the necessary documents for company formation;
• we provide consultations on establishing company management structures and selecting the right executives;
• we assist in forming the statutory share capital for your company;
• we assist by representing you in the Register of Legal Entities and at the notary;
• we can take care of opening both the deposit and settlement accounts for your company;
• we handle the reservation of the name for your newly established company;
• we provide a registration address for your company;
• we offer all other legal services for companies.

Quick and Convenient Ways to Establish a Company

We also provide remote services for company formation. Establishing a company online today is one of the simplest and fastest ways to bring your business idea to life. Whether you’re in any city in Lithuania or abroad, we can assist you with setting up your new company without the need for physical presence. In addition to Lithuania, company formation abroad is one of our specialties. We can help you open a company not only in Lithuania but also in other countries, offering tailored support for your international business needs.

Contact Us and Get the Best Offers for Company Formation! Let your company formation begin today. With our expertise, we’ll ensure that the process runs smoothly, quickly, and hassle-free. Get in touch with us now to receive the best offers tailored to your business needs.

How long will it take to set up a company?

Depending on the type of company you choose, all documents are processed within 3 to 7 business days. In other words, if you start the company formation process today, by next week, you’ll officially be the head of your new company, ready to legally conduct your business activities.

Company establishment involves several stages, and to ensure everything goes smoothly, our team is ready to help bring your business ideas to life. If you’ve already set your business goals, chosen a name for your new company, and decided on the legal form, we’ll guide you through the remaining steps. We handle the company registration and manage all necessary documents quickly and professionally, so you can focus on what truly matters—growing your business.

Wide range of services for companies

In addition to company formation, we also provide essential legal services for businesses. For those looking for a quicker and more convenient way to start operations, we offer the option to purchase already established companies with names. The companies we sell are new, have never conducted any business, are debt-free, properly organized, and pre-prepared for activity. This means when you purchase one of these companies, you won’t be tied to any previous obligations or liabilities.

The MyTax team consists of professionals from various fields, ready to provide everything your company needs. From migration services and handling all necessary documentation to offering essential business services such as preparing individual business plans, increasing the share capital of a UAB, changing or liquidating a company name, and addressing many other cases. This means we can assist you not only in establishing your company and preparing for a fresh start but also take care of everything to ensure your business runs smoothly and has the highest possible chance of success.

Looking to establish your company in Vilnius, other cities in Lithuania, or even abroad? The “MyTax” team of experts is here to provide professional company formation services tailored to your needs.
Contact us, and we’ll be happy to apply our extensive experience to ensure you get the assistance you need, exactly when it matters most.

What documents are needed to register a company in Lithuania?

This is the full package of documents that need to be collected and prepared before creating your company. It includes the founding agreement, which outlines the conditions for the company’s establishment, the future company’s statutes/rules, and the protocol of the founding shareholders’ meeting, confirming the members of the company’s governing bodies. Depending on the type of company you wish to establish, different documents may be required. Therefore, we recommend contacting us, and our experts will assist you with any questions you may have throughout the process, ensuring everything is in order for a smooth company formation.

How can we help you?

As we mentioned, starting a business is a challenging and responsible task that demands a significant amount of time and effort, which is why we are here to assist you. Our professional team is ready to help you with every aspect of the process. Not only will we collaborate with you, but we will also support you in gathering the necessary documents. If needed, we can even represent you in meetings with a notary. Trust us with your most difficult tasks in launching a business, and we will ensure the smooth and efficient establishment of your new company in Lithuania.