Establishment of institutions and enterprises

Joint stock company (UAB) – a private limited liability company. The establishment of this type of company is relevant because the shareholders only risk the assets, they have contributed to the UAB, thus protecting their personal assets, i.e. they shall not be liable in their property for any default of the company. It is the most popular legal business form in Lithuania.
The authorized capital of a company must be at least 2500 euros. UAB may be established by one or more natural and / or legal persons and the number of shareholders is limited to 250.
Data required for establishing UAB:
• the name of the company being established;
• details of the founders (shareholders): names, personal identification numbers and declared place of residence. If the founder (shareholder) is a legal person: name, code, registered office, name of the manager, personal code, registered place of residence. Legal persons must submit their founding acts (statutes, regulations, etc.), certificate of registration, supervisor appointment;
• Company Headquarters: It is necessary to provide the exact address, the property’s unique or registry entry number;
• The size of the Company’s authorized capital, number of shares, the nominal value of shares and minimum issue price;
• the number of shares to be acquired by each founder of the company and the arrangements for payment;
• expected commercial – economic activity of the company;
• Company CEO’s data: name, surname, personal code and declared place of residence; the job title of the supervisor must also be indicated;
• Information about other organs of the company and their members: supervisory council and/or directorate.
We prepare company incorporation documents within 1 business day.

*Document verification at the SE centre of registers may take up from 1 to 3 workdays.

MB is advisable for people who want to start either a small business that does not require a lot of investment or a family business. It is also suitable for young people under the age of 29 because of attractive tax benefits.
Advantages of MB:
• It is a limited civil liability company. The founders of the MB are responsible only for the assets of the company and not for their personal;

• There are no set requirements for a minimal capital amount;

• There may be more than one founder;

• CEO is not obligatory;

• Any employment relations are not necessary for the members of MB;

Only natural persons can be founders of a small partnership. The maximum number of founders is 10.
Data required for establishing MB:
• the name of the small partnership to be established;
• details of the founder (s): name, surname, personal identification code and declared place of residence;
• address of the office.

We prepare company incorporation documents within 1 business day.
*Document verification at the SE centre of registers may take up from 1 to 3 workdays.

The setting up of an individual enterprise is advised for individuals planning to provide services or undertake other economic and commercial activities for which the work of family members and small initial capital is sufficient.
IĮ is a private legal entity with unlimited civil liability. This means that the owner is liable for his / her non-performed obligations with his / her assets. Only a natural (active) person can be the founder of an individual enterprise.
It should be noted that the owner of one individual enterprise cannot be the owner of another one.
Data required for establishing MB:
• the name of the individual enterprise;
• details of the founder (owner): name, surname, personal identification code and declared place of residence;
• individual enterprise headquarters: It is necessary to provide the exact address, the property’s unique or registry entry number;
• expected commercial – economic activity of the company;
• Company CEO’s data (if the owner of the individual enterprise appoints another person as manager): name, surname, personal code and declared place of residence;
We prepare company incorporation documents within 1 business day.
*Document verification at the SE centre of registers may take up from 1 to 3 workdays.

If you are seeking to serve the public interest through activities of public interest, then we recommend setting up a public body. It is a non-profit, limited liability, public legal entity. A public enterprise may be founded by one or more natural and / or legal persons, the number of founders is not limited. A public body can also be used for commercial activities because:
1. Tax benefits are available;
2. Support may be obtained from natural and legal persons.

Data required for establishing VšĮ:
• the name of the public body being established;
• details of the founders: names, personal identification numbers and declared place of residence. If the founder is a legal person: name, code, registered office, name of the CEO, personal identification code, declared place of residence. Legal persons must submit their articles of incorporation (articles of association, regulations, etc.), certificate of registration, appointment document of the manager;
•headquarters of the public body: it is necessary to provide the exact address, the unique property number or the registry entry number;
• The amount of the founders’ contributions to the public body. Contributions of the Founding Members may include money as well as tangible and intangible assets;
• Objectives, areas of activity and types of public institution;
• Details of the CEO of the public body: name, surname, personal identification code and declared place of residence;
• Information on other organs of the public body: administration, auditor / audit commission, etc.
We prepare company incorporation documents within 1 business day.
*Document verification at the SE centre of registers may take up from 1 to 3 workdays.