Procedure

Time to complete

Associated costs

More details

1. Prepare articles of association, along with founding act/founding agreement

1 day (after receiving all the required information and documents)

Only legal costs, if carried out by a legal advisor

You will need: 
- a Lithuanian business address (required for your company registration documents);
- to appoint a general manager.

2. Reserve a temporary company name (optional)

1 day

Approx. €16 

Submit an application (form JAR-5) to the Register of Legal Entities. This name will be reserved for 6 months.

3. Open an accumulative bank account

1-2 days

Free (or bank fees)

This accumulative bank account is only used for depositing share capital. Later on, you can choose any bank for operations. Minimum required share capital – €2500.

4. Transfer share capital to that accumulative account

1 day

Free (or bank fees)

Please note: 
- if the share capital is higher than €2500, then at least 25% must be transferred to the accumulative account (with the remaining amount paid within 12 months).

5. Notarize the founding documents at a registered notary’s office

1-2 days

Approx. €72 - €290 (depending on the amount of share capital)

If your country has joined the 1961 Hague Convention, your documents need to be certified by an Apostille (list of countries).

In countries that are not listed, documents issued by foreign institutions should be legalized.

In Lithuania, legalization or certification by Apostille is not required for documents issued in Russia, Ukraine, Belarus, Moldova, Estonia and Latvia.

6. Register the company in the Register of Legal Entities

Up to 3 business days

Approx. €57

Documents can be submitted to the register only after they have been notarized (step 5).

7. Convert the accumulative bank account into a settlement account

2-7 days (depends on the bank)

Depends on the bank

8. Obtain a confirmed electronic signature (only needed for online company registration)

10 minutes to 1 day

The cost of a mobile e-signature certificate varies depending on the mobile operator. Alternatively, you can buy electronic equipment that can store an e-signature. For example, an encrypted USB token costs EUR 34.49 and comes with a 12-month warranty. 

There are three main ways to get a qualified electronic certificate (electronic signature):

1. Through a Lithuanian national identity card or Lithuanian public servant ID card issued by the Identity Documents Personalization Center under the Ministry of Interior of the Republic of Lithuania.

2. Mobile network operators can issue mobile electronic signatures: Bite, Telia, Tele2.

3. Through a secure e-token with electronic signature embedded provided and issued by Center of Registers.