- First of all you will need a temporary residence permit in order to start your own business, and your stay in Lithuania has to be necessary for the functioning of your company.
- The tricky thing when opening a company is the requirement for the value of the authorized capital of your business has to be at least 50.000 Lithuanian Litas, which is the double amount of what used to be the practice not too long ago. However, if you wish to set up a private limited liability company in Lithuania, the amount of the authorised capital goes down to 10.000 Lithuanian Litas. Note that in this case, you cannot ensure a residence permit.
- The next step would be to get in touch with the State Tax Inspectorate.
- Thereafter you register your company at the Register of Legal Entities.
- LEPA – Lithuanian Development Agency will help you with a consultation regarding most of the necessary spheres when opening your company.
Resourse:
The Civil Code, Law on Companies, Law on Public Institutions.
