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Forming a Lithuanian company
*Už diskusijų dalyvių išsakytą nuomonę neatsakome
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Pelle
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2004.07.27 15:30
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Hi,
I am about to form a UAB in Litauen.
As I understand there are two ways of doing this:
1. Buying an existing company name and formation, but then changing the framework and content of it.
2. Starting from scratch...
a) Could you please advise me of what is est for me?
b) Where can I find a company name with formation that already exists?
c) What is the estimated cost in buying an existing company?
d) If selecting the second alternative I am wondering where I can find a good and trustworthy lawyer who can assist me in the formation of a company. It might be that an UAB is not best so I would be greatful if I am advised in this matter.
Thanks!
Kind regards,
Pelle
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1. Dawn
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2004.08.31 16:31
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Hi,
a) It is better to establish new company, because to buy company is more complicated. You will not be shure 100 percent what you bought ( I mean about the history of the company, about debts and so on).
Establishing UAB you will need 10 000 Litas for authorised capital, 30 Litas for registration of company's name, 120 Litas for companys registration in register of enterprises and 350 Litas to notary. That's all.
b) it's hard to say.
c) UAB "Verslo raktas" works in establishing companys for about 13 years. They could help you in establishing company, preparing all documents and representing you in state institutions establishing company.
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2. TMK
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2005.02.20 03:10
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Dear sirs,
Please consider forming a company elsewhere in the EU (VAT reasons), with less stringent laws. And use a "branch office" to do business in Lithuania. There are countries with better corporate governance possibilities. Don't forget that it is easy to start a company, but it is hard to close one without financial loss :)
Greetings,
TMK
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