Lithuania

Business in Lithuania

Key features of the business environment in Lithuania:

Political and economic stability;
Membership in the European Union and NATO;
Low costs for the establishment and administration of the company;
Favorable taxes on dividends and capital gains;
Relatively large number of double tax treaties;
Modern banking system;
Qualified specialists of various fields;
Opportunity to acquire a “shelf” company;
The official language is Lithuanian, but English and Russian are also widely used;
Fairly flexible and simple procedure for replacing shareholders.

Due to these and other features of the business environment, Lithuania is an attractive jurisdiction for trading and holding structures in the field of tax planning.

State legal system

In 1990, Lithuania regained its independence. On March 29, 2004, the republic became a full member of NATO, and from May 1, 2004, a member of the European Union.

The Lithuanian legal system is based on civil (Roman) law. All national legal acts (including the Civil Code, the law on joint-stock companies, laws on taxation) have been brought into line with the legal framework of the European Union.

Economy

The national currency of the Republic of Lithuania is Litas. On February 1, 2002, the litas was pegged to the euro (EUR) at a ratio of 3.4528 litas to 1 euro. In Lithuania, foreign currency can only be used by agreement of the parties for non-cash payments and settlements, and the currency of the European Union, the euro, can also be used in cash.

Financial services

Scandinavian banks directly or indirectly manage most of the Lithuanian financial sector. For many years, Lithuanian banks have made efforts to develop the electronic banking sector, thanks to which today they can offer high quality banking services via the Internet, telephone and GSM mobile communications, various payment cards and many other world-class products, such as traveler's checks, letters of credit. , warranties/insurance, etc.

Financial intermediation, leasing, factoring and insurance have also become the object of foreign direct investment, so services in these areas have reached the level of European standards. Lithuania also has a National Securities Exchange.

In Lithuanian banks, legal entities and private clients from all over the world can easily and quickly open and operate their bank account. For Lithuanian companies, an account is opened within 1 hour.

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