Many entrepreneurs are seeking to expand their field of activities and to enter new markets or to optimize taxes often by doing business in the European Union countries. There are many reasons for choosing Lithuania as an attractive country to start a business.
Doing business in Lithuania is convinient due to geographical position of the country, highly qualified personnel and well developed infrastructure. The core question for a businessmen enetring the new jurisdiction is how long it takes to start a business in Lithuania. According to the World Bank, a week is enough to start a business in Lithuania.
Private limited liability companies (UAB) are considered most common legal form for doing business in Lithuania. In order to start a private limited company, you need to arrange necessary document, open a bank account and register the documents with the Registry of Legal Entities. In some cases, a new compan cn be registered online. In case of choosing more complicated managment form, it is advisable to address to professionals.
On the other hand, in order to avoid the procedure of registration of a new company you can buy a ready-made Lithuanian company with a minimum share capital and a bank account. When deciding how long it takes to start a business in Lithuania by purchasing a ready-made company, it should be noted that in that case a contract of sale of shares is executed. This method of starting business is faster and takes about 1 day, but it is more expensive. It is for an entrepreneur to decide whether to open a new company or to buy a ready-made company in Lithuania.
Thus, the company can be opened quickly and inexpensively. Doing business in Lithuania will open up new prospective and stimulate your further development.