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Ease of Doing Business in

Lithuania

Lithuania Download Profile (1755.7KB, pdf)
Region Europe & Central Asia
Income Category High income
Population 2,910,199
GNI Per Capita (US$) 15,000
City covered Vilnius

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 21 21
0
78.84 78.60 down
0.24
Starting a Business 29 28 down
1
92.99 92.94 up
0.05
Dealing with Construction Permits 16 15 down
1
80.44 80.43 up
0.01
Getting Electricity 55 58 up
3
80.08 78.97 up
1.11
Registering Property 2 2
-
92.93 92.93
-
Getting Credit 32 29 down
3
70.00 70.00
-
Protecting Minority Investors 51 48 down
3
61.67 61.67
-
Paying Taxes 27 29 up
2
85.44 85.46 down
0.02
Trading across Borders 19 19
-
97.70 97.70
-
Enforcing Contracts 6 5 down
1
77.88 77.88
-
Resolving Insolvency 66 68 up
2
49.23 48.06 up
1.17

Positive=Doing Business reform making it easier to do business. Negative=Change making it more difficult to do business.

DB 2017 Rank: 29

DB 2016 Rank: 28

Change in Rank: down1

DB 2017 DTF (% points): 92.99

DB 2016 DTF (% points): 92.94

Change in DTF (% points): up0.05

Standardized Company
Legal form: Private Limited Liability Company (UAB)
Paid-in minimum capital requirement: EUR 2,500
City: Vilnius
Indicator Lithuania Europe & Central Asia OECD high income
Procedure – Men (number) info_outline 4.0 4.9 4.8
Time – Men (days) info_outline 5.5 10.2 8.3
Cost – Men (% of income per capita) info_outline 0.6 4.7 3.1
Procedure – Women (number) info_outline 4.0 4.9 4.8
Time – Women (days) info_outline 5.5 10.2 8.3
Cost – Women (% of income per capita) info_outline 0.6 4.7 3.1
Paid-in min. capital (% of income per capita) info_outline 20.3 4.0 9.2
  • No. Procedure Time to Complete Associated Costs
    1

    Open bank account and deposit minimum capital requirement

    Agency: Commercial Bank

    Some banks apply charges for issuing a bank certificate, which evidences payment of share capital.

    An agreement between Centre of Registers and DNB bank on the pilot project to create internet service for opening of the account online was signed in mid 2011. Service (free of charge) in DNB bank started on 29th November 2011.
    1 day 0
    2

    Obtain a confirmed electronic signature

    Agency: Centre of Registers, Mobile operator

    In order to check and reserve company name online as well as register employees with SODRA, a company must have electronic signature.

    Electronic signature in USB form costs about EUR 44,00 plus about EUR 7.00 annual fee. Almost all Mobile operators provide electronic key for symbolical price in amount of EUR 0,50 plus monthly fee in amount of EUR 0.30 – 0.50 .

    At this moment in Lithuania are three types of electronic signatures.

    1) Electronic signature issued by state Centre of Registers. Costs – 43.33 EUR. Certificate of electronic signature is valid for 2 years. After 2 years certificate must be updated. Costs – 8.23 EUR.

    2) Electronic signature issued by mobile operators. Costs depends on mobile operator and range from 0.29 EUR to 4.34 EUR.

    3) Electronic signature issued by Migration Board with the personal identity card. Electronic signature does not cost anything but costs of personal identity card range from 8.6 EUR to 31.6 EUR.

    1 day EUR 0.5
    3

    Check and reserve the name of the company (limited liability company)

    Agency: Register of Legal Entities

    Reservation of the new company name is compulsory for online registration of business. Checking of the name is free of charge, and reservation costs EUR 16.22.
    As of May 2013, the changes of the Regulations of the Register of legal persons came into effect. Now the State Commission of the Lithuanian Language must check every new company name and give its consent on the use of a particular name. 

    Lithuanian Government amended the Articles of the Register of Legal Entities, and entrenched the mandatory consultation with the Inspectorate of National Language whether the company name corresponds to the requirements of the Lithuanian language. Currently the names of the companies must meet the requirements of formation of Lithuanian words, therefore sometimes it is not possible to use foreign words.
    Link to the amendment:
    http://www3.lrs.lt/pls/inter3/dokpaieska.showdoc_l?p_id=457223&p_tr2=2
    Less than one day (online procedure)
    EUR 16.22
    4

    Register at the Company Register, including registration with State Tax Inspectorate (the Lithuanian Revenue Authority) for corporate tax, VAT, and State Social Insurance Fund Board (SODRA)

    Agency: Registrer of Legal Entities

    According to Article 35 and 36 of the Regulations of the Register of Legal Entities, before the application for registration of a company is submitted to the Register of Legal Entities, notary public must verify the correctness of the particulars entered into the application, the compliance of the statutes with the statutory requirements and the fact that the company is eligible for registration. Article 36-1 of the Regulations provides a possibility to submit the documents electronically directly to the Register of Legal Entities, without verification of a notary (certain conditions apply, such as using only standard forms of incorporation documents, using electronic signatures, etc.). The following documents must be submitted when incorporating a small partnership:
    1. Application for small partnership registration;
    2. Statutes of the small partnership;
    3. Minutes of the statutory meeting (not always required);
    4. Founding act/Founding agreement.

    3 days EUR 51