Lithuania

Ease of Doing Business in

Lithuania

This page shows summary Doing Business 2012 data for Lithuania. The first table lists the overall "Ease of Doing Business" rank (out of 183 economies) and the rankings by each topic. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

Region Eastern Europe & Central Asia
Income Category Upper middle income
Population 3,318,970
GNI Per Capita (US$) 11,400.00
Doing Business 2012 Rank Doing Business 2011 Rank Change in Rank
27 25 down -2
Topic Rankings DB 2012 Rank DB 2011 Rank Change in Rank
Starting a Business 101 89 up -12
Dealing with Construction Permits 47 47 No change
Getting Electricity 81 67 up -14
Registering Property 7 6 up -1
Getting Credit 48 45 up -3
Protecting Investors 65 93 up 28
Paying Taxes 62 67 up 5
Trading Across Borders 28 30 up 2
Enforcing Contracts 15 18 up 3
Resolving Insolvency 40 39 up -1

Economy Profile

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Starting a Business

Info

The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2012 Rank 101 DB 2011 Rank 89 Change in Rank down-12
Indicator Lithuania Eastern Europe & Central Asia OECD

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

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Procedures (number)
6 6 5

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

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Time (days)
22 16 12

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

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Cost (% of income per capita)
2.8 8.3 4.7

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

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Paid-in Min. Capital (% of income per capita)
35.7 10.0 14.1
No. Procedure Time to Complete Associated Costs
1 Open bank account with minimum capital and get a bank certificate proving the availability of the funds; pay the registration fee and obtain the document evidencing the payment 1 day LTL 15
2 Notarize the agreement /memorandum of incorporation and bylaws; notarize the application for the registration of the private limited liability company 2 days LTL 500
3 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) 3 days LTL 198
4 Complete VAT registration 10-15 days no charge
5 Open a settlement bank account (to handle normal commercial transactions) 1 day no charge
6 Obtain the official seal of the company 2 days LTL 30-90

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