Company formation in Lithuania
According to the Commercial Law in Lithuania, merchants have the right to conduct commercial activities. A businessman is an individual person or a commercial company registered in the commercial register as an individual merchant. Commercial companies are personal or limited partnerships and capital societies. Capital companies are limited liability companies (LLC) and joint-stock companies (JSC).
The main features of company formation in Lithuania
The true beneficiary (beneficiary) (IVP). IVP is a natural person who directly or indirectly owns or controls more than 25% of SIA’s shares. The PSI and the detailed information on how they control the SIA must be disclosed and registered. Taxpayer status. The SIA is considered to be registered as a taxpayer at the same time as the company is registered in the Lithuanian Commercial Register.
An application for the Value Added Tax Payer Number (VAT number) can be submitted simultaneously with the filing of the application for company formation in Lithuania.