During the recent few years Lithuania‘s economy has been growing quite fast – starting from the increasing salaries, increasing cost of real estate, food and clothes prices to the volume of foreign investment to the country. But even though the cost of living has been increasing for a while, people in Lithuania still tend to choose cars in the secondary market. One of the reasons is that brand new cars are quite expensive to buy. Another reason is that a brand new car tends to lose 20-30% of it‘s purchase price straight after it has been started to exploit. Also, there are many authorized and unauthorized services in order to repair the used cars for a relatively low cost.
The statistics show that approximately 9 cars out of 10 are used in Lithuania while in other Baltic countries used cars are 3-4 out of 10. Moreover, an average age of a car in Lithuania is approximately 15 years. This statistics show that used car business in Lithuania has a demand and a quite big market comparing to the new cars‘ market. As Lithuania does not produce any car brand, people in Lithuania tend to buy cars produced by the foreign countries – German cars take the first place, Japanese, American, French cars are also very popular. Therefore, by setting up a used car business in Lithuania, you can use a benefit of EU membership. By being a member of EU, Lithuania can offer for your business open borders and common currency with the other EU countries. In addition to these circumstances, having a used car business in Lithuania may be attractive due to these reasons as well:
It is convenient to register a new company in Lithuania. Opening a company in Lithuania (the registration process of the company) is very fast and simple. Also, it saves your valuable time and money because you do not need to come to our office physically – we can prepare all the documentation with your scanned documents. We want to simplify the process for you of setting up business in Lithuania.
Lithuania can offer for your business a beneficial tax environment. Lithuania is one of the countries that has lowest taxes in all European Union (i.e. tax on corporate profits – 5% or 15%, value added tax – 21%). For the foreigners who are interested in opening a company in Lithuania, the business environment is very attractive.
Before opening a used car business in Lithuania, you might face many questions on what you need to know additionally about setting up business in Lithuania generally, also, how to start company registration process, how to open company from zero or what is the best company to buy in this country. For your own convenience, we can help you to prepare a to do list before starting registration process of the company because our office is highly oriented to the clients – we are always ready to save your time and money!
It is also very important for your to decide what type of company you prefer to have in Lithuania – either you would like to open a company from zero or you would like to buy an already established business (like a running business for sale). If you decide to buy an already established business, we are ready to offer for you:
A running business for sale (that has activity now, turnover, employees, etc.).
The company with no activity.
The company with a terminated activity (the activity has been terminated in the past due to some reasons).
If you are already interested in opening business in Lithuania, do not hesitate to contact our office. We will give you some good recommendations, also, we will help you to prepare a to do list before opening a new business here. Our team of professionals is always ready to share the best experience and knowledge with you about setting up business in Lithuania. Because setting up a new business in the foreign country can be a key to your future success!