Frequently Asked Questions

Typically 1–5 business days, depending on the chosen legal form. A Small Partnership (MB) can be established within 24 hours if all documents are properly prepared.

Yes, but people often make mistakes in documents or choose the wrong legal form or governance structure. We recommend using legal assistance.

Yes. The entire process can be completed electronically using an e-signature (Mobile ID or LT ID) via the State Enterprise Centre of Registers system.

It depends on the legal form. Establishing an MB starts from €199; a Private Limited Liability Company (UAB) from €229 (including registration fees).

Yes. Both MB and UAB can have multiple members or shareholders.

A UAB suits growing businesses planning to attract investment. An MB is better for small, solo businesses that value flexible management and have limited initial capital.

When the business grows, attracts partners or investors, or reaches higher turnover. A UAB provides clearer liability and higher credibility.

An MB member can take payments from profit or personal withdrawals.

A UAB’s director may act as the accountant if qualified. Alternatively, the company can hire an accountant under an employment or accounting services agreement.

No. There is no minimum capital requirement. An MB requires a member’s contribution, monetary or non-monetary.

It must be unique—check availability via the Centre of Registers and EU trademark databases. Avoid generic words or misleading abbreviations.

Yes. Every company must have a registered address. If you do not own the premises, you will need the owner’s consent.

Yes, if the company is not being set up via the electronic self-service system of the Centre of Registers.

Yes.

Key business objectives, share capital, shareholder rights, and governance structure. The Articles serve as the “constitution” of the company.

Open a bank account, choose an accountant, register for VAT (if needed), and prepare contracts with suppliers and clients.

When its annual turnover exceeds €45,000. Voluntary VAT registration is also possible.

Yes, for up to 5 years without liquidation by notifying the State Tax Inspectorate (VMI). Annual financial statements must still be submitted to the Centre of Registers.

Liquidation may take from a few months to a year. A liquidator must be appointed, debts settled, liquidation balance sheets and declarations prepared, documents archived, and the company deregistered.

Most errors can be corrected. Take action promptly and consult a lawyer to avoid future issues.

Yes, if speed matters—acquisition may take 2–4 days. Always consult a lawyer to ensure the company has no debts or liabilities.

Yes. Even if it has no current debts, hidden obligations or past agreements may exist. Proper due diligence is essential.

Yes. Foreign citizens may acquire 100% of a company’s shares.

No. An MB has no mandatory share capital—member contributions can start from €1 or be non-monetary.

Yes, but it is not mandatory. MB members may represent the partnership without an employment contract or appoint a manager under a civil services agreement.

The minimum share capital is €1,000.

Usually 2–5 business days if all documents are correct.

Yes. A UAB director must be employed under an employment contract and is subject to employment-related taxes.

At least 3 individuals or legal entities.

No. Associations have no capital requirement.

Approximately 3–5 business days if the documents are correct.

No.

Yes.

Minimum of one. Either individuals or legal entities.

No. A public institution does not require capital but needs a stakeholder contribution.

Typically 2–5 business days, depending on document accuracy.

Only one individual. Sole proprietorships cannot have multiple owners.

No. Sole proprietorships have no capital requirement.

Yes. The owner has unlimited liability, making it riskier than MB or UAB.

At least one founder—an individual or legal entity.

No. There is no capital requirement.

Typically 2–5 business days if documents are properly prepared.

Yes. A name can be changed at any time by adopting a decision and registering a new version of the Articles.

Not mandatory but recommended. Name reservation at the Centre of Registers is valid for 6 months.

Usually 3–4 business days after submitting documents if the name meets legal requirements.

When essential information changes: name, activities, capital, governance structure, or any other provision set out in the Articles.

No. Simple changes (e.g., director or registered office) can be registered without amending the Articles.

Typically 3 business days if documents are correct.

When additional funds are needed, a new partner/investor is joining, or financial credibility needs strengthening.

Shareholders adopt a decision, amend the Articles, pay in the new capital (cash or assets), and register the changes.

Yes. Retained earnings can be capitalised by issuing new shares to existing shareholders without additional contributions.

Commonly to distribute funds to shareholders or to cover losses.

Shareholders adopt a decision, approve a new version of the Articles, notify creditors, and register the changes.

No. A UAB’s capital cannot fall below €1,000.

When the scale or structure changes—for example, converting an MB to a UAB due to investors, capital needs, or growing membership.

No. Reorganisation changes the legal form while retaining obligations, contracts, and company history.

On average 7–30 days, as documents must be prepared, creditors notified, Articles approved by a notary, and changes registered.

At any time if the owners decide to cease activity and there are no debts preventing liquidation.

The company is registered as “in liquidation,” a liquidator is appointed, settlements made, reports submitted, bank account closed, documents archived, and deregistration filed.

Generally 3–12 months, depending on obligations, documentation, and creditor notification periods.

When a company carries goods or passengers for commercial purposes.

A transport manager with a certificate of professional competence, adequate financial capacity, and good repute of the director and transport manager.

Usually 10–20 business days after submitting documents to the Lithuanian Transport Safety Administration.

Trademark registration provides legal protection—no one else may use an identical or confusingly similar mark in your business sector.

Typically 6–12 months if no objections are raised. Expedited examination is available for an additional fee.

Yes. A registered trademark protects the verbal or graphic name for 10 years and can be renewed.

It clearly defines rights, obligations, and liability, helping prevent disputes and financial risks.

Possible but risky—they often fail to reflect your situation, legislation, or business conditions.

Usually 1–3 business days, depending on complexity.

It helps assess feasibility, plan finances, identify risks, and is required by banks, investors, and support programmes.

Market analysis, target audience, product/service description, financial forecasts, costs, revenue model, and risk assessment.

Yes. Voluntary registration may be advantageous—for example, to reclaim input VAT or work with VAT-registered partners.

Usually around 14 days if documents are complete.

JANGIS (Register of Legal Entities’ Participants) ensures the state has accurate data on beneficial owners. This is an EU and anti–money laundering requirement.

No. A UAB may have only one director—a single-member management body.

The Articles determine the term, but it may not exceed 4 years.

Any board member who is a natural person—either a shareholder or an external professional.

When founded by three legal entities or thirty natural persons, or when other specific exceptions apply.