You are thinking about setting up business in Lithuania? But you don‘t know how to start the company registration process? You don‘t know how to open a new company – how to start an export business in Lithuania? Before starting any business in Lithuania (including export business) you should get familiar to some facts and statistics about doing business in Lithuania that could be beneficial for your business as well:
- Lithuania belongs to the European Union, therefore, by opening business in Lithuania you will be able to reach even wider market – the delivery of production to other foreign countries is faster and easier because less documentation is needed.
- Setting up business in Lithuania is a quite fast and easy process. Cost of the company depends on the type of the company that you are going to buy, i.e. if you are interested in running business for sale than the price of such company is higher compared to the new established company.
- Lithuania can offer a good business environment for your business: from one of the lowest taxes in all EU (tax on corporate profits – 5% or 15%, value added tax – 21%) to well-educated and high-skilled employees.
By setting up a company in Lithuania, you will be able to use all these and much more benefits for your business. Also, it is worth mentioning that most of the companies in Lithuania are oriented to exports. Lithuania is mostly exporting to other countries in European Union (approximately 60% of total exports) – Germany, Latvia, Poland, Estonia, Germany, Italy, Spain, UK, Sweden. Also Lithuania is exporting to Russia, Belarusia, Ukraine, USA. Lithuanian companies are mostly exporting mineral products (about 16% of total exports), machinery and mechanical appliances (about 8%), furniture (about 7%), electrical machinery (7%) and plastic products (6%), also Lithuania is exporting vehicles, wood, pharmaceuticals, fertilizers and cereals.
Export is one of the most important element for the economic growth. The policy of Lithuania‘s goods and services export is set according to the EU Common Commercial Policy. Lithuania has these development objectives of the export business:
- To maintain export position in foreign markets.
- To penetrate into new markets (especially in third countries).
- To especially promote the export development of higher value-added goods and services.
According to this policy, export business in Lithuania is one of the most attractive. So, it is worth thinking about setting up a company that would be highly oriented to exports. How to open an export business in Lithuania?
Before entering any new market – opening a new company in a foreign country, we would advice you to prepare a to do list that would include all the steps related to company opening in Lithuania. Of course, you might face many questions from how to start a new business in Lithuania to what is the best company to buy. Accordingly, we may offer you an already established company (like a running business for sale, a company with no activity or a company with a terminated activity). Also, we may offer you to establish a brand new company from zero. The cost of the company also depends on the type of the company that you choose.
So, if you are interested in doing export business in Lithuania, we would recommend to contact our office first – we will help you to make a to do list before opening a new company, also we will help you with the company registration process and will definitely provide our professional consultancy about what you need to know before opening and doing export business in Lithuania. Setting up an export-oriented company might be smooth and fast with our help!