Company formation in Lithuania | Company registration in Europe

Company formation in Lithuania | Company registration in Europe

Andumpark Limited provides company registration services in Lithuania, Europe and other countries around the world.

Full range of services, which is provided with:

The Statute;
The incorporation agreement;
Company registration in State Enterprise Centre of Registers;
Company registration in State Tax Inspectorate;
Company ID;
State Patent Bureau approval of company name;
Notary costs;
Bank account opening;

Additional services:

Annual company registration address is additionally charged;
Company adress;
Documents translation.
Accounting services are additionally charged.

The Public Limited Liability Company is limited liability legal person, the capital is divided into shares. Shares can be traded on the stock exchange.

Number of shareholders: unlimited.

Share capital: from 43,490 EUR.

The Public Limited Liability Company is managed by Shareholders meeting. The annual shareholders’ meeting is mandatory.

The Private Limited Liability Company is limited liability legal person, the capital is divided into shares. Shares cannot be traded on the stock exchange.

Number of shareholders: up to 250 people.

Share capital: from 2,500 EUR.

The Private Limited Liability Company is managed by director, who is responsible for all of the company’s activities.

The Public Institution is limited liability legal person, non-profit public organization, which is registered in order to fit public interests. The public institution has the right to engage commercial activity that is related to its public activity objectives. It is prohibited to divide the capital for the activities, which are not included to the Statute.

Number of shareholders: unlimited.

The Public Institution is managed by director and founders meeting.

The individual enterprise is a private legal entity of unlimited liability. It can be run individually or by family. This company is managed by individual enterprise’s director, who is this enterprise’s owner.


General partnership – an enterprise established under agreement for joint activities of several private and legal persons. Such enterprise runs commercial and economical activity, and its participants are private persons. Members of General partnership are responsible for partnership’s obligations solidary by its all assets and property.

Form of an enterprise, when at least one company’s participant is a natural member, and at least another one – commandite. Parntership’s assets are excluded from commandite’s property, and not excluded from natural partner’s one.

The association is limited liability legal public person, which aim is to coordinate the activity of association members, to represent members’ interests and to defend them or to fit other public interests.

Minimum number of founders – 3 legal or private persons.

The annual members’ meeting is mandatory. It is prohibited to distribute association’s profits to association’s member’s, except salary.

United Kingdom – reliability, security, stability and high revenue. The UK is one of the most important international tax planning jurisdictions.

Britain has standard taxation, but the law allows companies to register and use zero tax rates.

UK registered companies mostly use the image to improve the image of companies so that they can enter the financial markets of the richest countries in the future. Great Britain is prestigious!

The most popular types of companies are:
LTD – Limited Liability Company;
LLP – limited liability partnership.

Limited Liability Company – has the following characteristics:
At least one director must be a private person;
Minimum authorized capital: 2 pounds;
The names of directors and founders are in the public register. In practice, however, nominal services are often used;
VAT number (optional): In order to register this number, you need an office in UK and local bank accounts;
The Company must submit an annual financial report;

Limited Liability Partnership – main characteristics:
Requires at least 2 partners (two partners from any country);
LLP does not have share capital in its structure;
partner investment funds are used (the size of the investment is determined by the partners themselves);
Income transferred to foreign partners is not subject to corporate tax (UK);
Presentation of the tax report takes place once a year (even if the company does not pay income tax);
If a company only carries out commercial activities outside the UK, the VAT number is not available.


Cyprus since 2004  is an EU member. The Cypriot company allows you to enjoy all the activities of companies in the European Union or the world. At present, Cyprus is a democratic Republic with presidential power. Since 2008 Cyprus entered the Euro area.

Cyprus is known for its excellent and favorable conditions for human health: a combination of sun days – 320 days a year, sea and mountain air – all creates a comfortable environment for life and business.

Advantages of Cyprus companies:
Developed banking infrastructure (Cypriot banking system is very close to British model);
Preferential tax system;
Dividends and taxes are often exempt;
Arrangements for avoiding double taxation with more than 40 countries.

From 2013 Cyprus’s corporate tax rate is 12.5% (up to 2013: 10%) of the company’s profits. This is one of the lowest income tax rates in the EU.

2011 The Companies Act was amended to require Cypriot companies to pay an annual fee of € 350.

The dividend payment is free in Cyprus. In addition, there is no tax on interest income and dividends paid to non-residents of Cyprus, except where this is governed by a double taxation treaty.

Company Requirements:
Shareholders – at least one – may be a natural person and a legal entity of any place of registration;
Directors – at least one – can be both a natural and a legal person (resident – any);
Requires a secretary, may be a natural or legal person (for practical reasons, it is better for a Cypriot resident);
Shares must be registered only at par value;

Information about directors, shareholders and secretary is open in the State Register, information on shareholders (managers) is closed. The nominal service is designed and widely used;
No minimum authorized capital is required;
The business address must be in Cyprus;
Companies registered in Cyprus provide audit and financial reports;

When the nominal shareholders are used in the Cypriot company structure, the company’s beneficiary’s rights are confirmed by the Deed of Trust. This is a document that is signed by a nominal shareholder, which determines the conditions under which the beneficial owner benefits from the shares.

Standard Company Set:
Registration document;
Company legal address certificate;
Company Shareholders Certificate;
Certificate of Appointment of the Director / Secretary of the Company;
Company Opening Agreement and Articles of Association;
Company stamp;

From an operational perspective, Cypriot companies can be classified as holding companies, trading companies, professional stock market participants, licensed, investment, leasing companies, real estate owners and others.

Formation with Apostil – 3200 €
Annual fee (second year) – 1180 €
Dissolution – sutartinė
Apostil – 250 €
Certificate of Good Standing – 275 €
Certificate of Incumbency – 275 €
Nominal director – 295 €
Nominal shareholder – sutartinė
Nominal secretary – 275 €

Annual report – sutartinė
Levy – 300 €

Lithuania is an ideal country for business development. Low fees and great infrastructure for your service!

Sometimes it is more useful to set up a business directly in the European Union to do business with the European Union. We offer Lithuania for these purposes! Lithuania is one of the EU leaders in 2010 according to the pace of economic recovery. Despite the impact of the global economic crisis, Lithuania is also an important transport center of the European Union.

Advantages of Lithuanian companies:
15% profit tax;
Low Returnable Share Capital;
Opportunity to open accounts with European banks;
Eligible company costs and minimum number of employees required for registration.

Andumpark Limited will help you choose the type of company you need and open it!

Two types of commercial associations are commonly used in Estonia:

Joint Stock Company (AKTSIASELTS – AS);
Limited Liability Company (OSAÜHING – OÜ).

Joint Stock Company – Commercial Association is dedicated to large business relationships with many shareholders. The capital and shares must be at least EUR 25,000 and the shares can be registered. The management structure is the board. One person can be a minimum. If more, at least half of them must be Estonian residents. The Board of Supervisors – at least 3 persons – has no restrictions on residents. The shareholder may be any natural or legal person.

Reporting and Profit Distribution: The Board of Directors keeps accounts in accordance with the Accounting Act. The annual report is approved by the general meeting. The report should be accompanied by a list of shareholders holding a nominal holding of more than 10% of the voting rights and a decision on the distribution of profits. Dividends may be paid once a year on the basis of an approved annual report.

Limited Company – A commercial association is perfect for organizing small and medium business with up to 5-10 shareholders. The minimum capital is 2500 euros. In case of purchase and sale of a share, the sales contract must be notarised.

The management structure is the board. The rights and duties of the Board are set out in the Commercial Code and the Companies Charter. The minimum number of board members is 1 person. If there is more than 1 person on the board, at least half must be Estonian.

Reporting and Profit Distribution: The Board of Directors keeps accounts in accordance with the Accounting Act. The Board convenes the Annual General Meeting of Shareholders to approve the annual report, and also decides on the distribution of profits. Payments to shareholders may be made once a year from net profit or retained earnings in the previous financial year.

Germany is a Central European country  and a member of the European Union, NATO and G8. According to the standard of human life, the country is ranked 10th in the world by the Human Social Development Index.


High international authority of Germany as EU member;
No currency controls;
Possibility to use the company as a holding company, non-resident companies;
Company Performance in Property Ownership Systems.


The procedure for the formation and operation of public limited liability companies is established by a special law (Aktiengesetz).


In Germany there are federal and local taxes. Locations, in turn, may differ from one another depending on the country in which the company operates.
Corporate tax – 15%;
Commercial fee – 15-20% (depends on land);
Income tax – from 16%;
VAT is 19%, but it is fully refunded on export, as well as in other cases.

At first glance, taxes in Germany are quite high, but the law provides for a number of benefits that could significantly reduce the tax burden.


The minimum number of directors is one (the director of the company may be a resident of the European Union);
Authorized Directors are legal entities;
There must be a local registered secretary and office;
The minimum number of shareholders is one;
Legal address – must be in Germany;
The minimum capital is € 25,000. Half of the capital must be paid when the company is established;
Necessary accounting;
The necessity of preparing an annual report.

In Poland, business registration has developed for two reasons why business investors are opening up businesses abroad: analyzing new markets or reducing costs. Poland joined the EU in 2004 and is particularly suitable for both. The Polish market is the largest in Central Europe.


Access to a residence permit for self-employment;
Access to long-term visas for the Schengen area;
Ability to integrate into a dynamically developing economy;
Opportunity to open accounts with banks included in TOP-50 European Bank.


In Poland, there are four rates of VAT:

Home: 23%;
Reduced: 8%, 5%, 0%; Reduced rates: 8% and 5% for manufacturers;
For example: construction: 8%;
Income tax (CIT): 19%.


A limited liability company is the most popular form for small and medium-sized businesses;
The minimum authorized capital is PLN 5,000 (EUR 1,728), and must be fully paid for when registering in Poland;
The minimum number of directors for a company in Poland is one;
There is no restriction on registration abroad in Poland;
Annual reports on the volumes to be prepared and stored at the company’s office.

The Kingdom of the Netherlands is a country where the traditions of ancient trade and entrepreneurship are in the spirit of cosmopolitanism and tolerance. It should be noted that one of the main advantages of the Netherlands is the unique tax system that creates favorable conditions for business.

Possibility to use the company as a nominal holding company;
High authority of the Netherlands as an EU member;
Currency exchange control;

The basic act under which the company is established and operating in the Netherlands is the Commercial Code (WetboekvanKoophandel).

Income tax is calculated gradually:
20% profit up to EUR 200,000;
25% profit above 200,000 euros;
It is planned to reduce the rate to 24%.

Tax Fee for Income:
Dividends – 15% (irrespective of the possibility to apply reduced rates);
Interests – 0%;
Honoraries – 0%.

The total rate is 19%, the preferential rate is 6%.

The minimum number of directors is one;
There are no directors’ residence requirements;
The minimum number of shareholders is one;
Nominated shareholders and directors are allowed;
The legal address must be in the Netherlands;
Each company must maintain existing accounting records and submit annual reports.

The Republic of Ireland is a full-fledged EU country. Therefore, Irish citizens have the automatic right to live and work in any EU country.

Income tax rate in Ireland for trading companies is 12.5%;
Value Added Tax (VAT) 21%.

The minimum number of directors is two;
Requirements for Resident Directors – One of the directors must be resident of Ireland;
Legal address – must be in Ireland;

Each year, the company is required to provide the tax inspectorate with the financial statements approved by the auditor (no audit is required if the turnover does not exceed EUR 250,000).

Denmark is a very advanced EU country with a standard tax system. At the same time, Danish legislation allows Danish companies to register and use zero tax rates. Such advantages are provided by companies such as K / S, which are becoming more and more popular every year.


High international authority as EU member;
Possibility to use the company as a holding company;
No currency control;


The standard tax rate is 25% of the company’s total profit;
Value Added Tax is 25%;
A limited liability company (K / S) is not taxed at company level in Denmark because taxpayers are dependent on the partners in the place of residence.


Accounting is a must;
The necessity of preparing an annual report.

Malta has become a member of the EU, and the latest amendments to the Tax Laws in Malta (after the agreement with the EU) have strengthened Malta’s position as an attractive jurisdiction for investors wishing to use Malta as a home base for international activities.

Free trade with EU countries, as Malta joined the EU in 2004;
Malta has one of the lowest effective tax levels in the EU;
Full anonymity of company owners in Malta;
Simplified procedure for obtaining VAT numbers;
Quick company registration;
Income from dividend distribution to shareholders is exempt.

The corporation tax in Malta is 35%. However, the Maltese company is entitled to a tax refund.

There are at least one company director, no residency requirements;
Company Secretary – at least one – natural person;
Legal address in Malta;
The company must provide an annual report as well as audit results.

Principality of Liechtenstein, form of government – Inherited constitutional monarchy. The official language is German, the currency is CHF. Liechtenstein is a fairly liberal position and a very flexible form of company law that allows the creation of various types of holding and management companies.

Liechtenstein is based on the Swiss analogue, although it is considered to be softer for foreign investors. As a result, Liechtenstein avoids the use of the term “offshore” in all its forms, although, in fact, there is a possibility to open companies under the company scheme.

High international Liechtenstein institution;
Possibility to register a non-taxable holding company;
No currency control;
It is not necessary to provide information about the actual owner of the company.

Authorized capital:
For “GmbH” companies, the minimum authorized capital is at least CHF 30,000;
The minimum capital of the AG companies must be at least CHF 50,000, of which 50% must be paid at the time of registration of the company;
Stiftung companies – 30,000 Swiss francs;

The company as a resident of Liechtenstein has to add accounting and audit reports and pay taxes every quarter.
The registration address and the agent must be in the territory of Liechtenstein.

Scotland is part of the United Kingdom, one of the leading financial and business centers in the world, as well as a significant jurisdiction for international tax planning.

If the trustees are LP – offshore jurisdictions, and the company does not receive income in the UK, LP’s corporate taxation is reduced to zero.

There must be at least two partners;
One of the partners must be appointed as general manager (or manager). Members of the partnership may be natural or legal persons from any jurisdiction;
Legal office in Scotland;
It is necessary to provide the annual return to the Enterprise Register;

The annual financial report is not required to be sent to the business register or tax office. Information about the real owner is provided only to the registered agent and is confidential. Founder Information: They are kept in the company register and are freely available.

Austria is a European country located in the center of Europe. This country is 75% in the Alps and is known worldwide for its tourism business and cultural history. Austria is known for its relatively high tax rates, but with the right company choice, this jurisdiction can be quite effective in tax planning.

High international prestige as an EU member;
No currency control;
Possibility to use the company as a holding company, a non-resident company;
Efficiency of companies in property ownership systems.

The standard tax rate is 25% of the company’s total profit;
Dividend payment is 25%. The tax may be reduced to 0% – 10% By paying dividends to a resident of Austria, agreed by Austria to avoid double taxation.

The minimum number of directors is one;
Members of the Board of Directors – 3 (one of the members of the Board of Directors may be the Executive Director);
There are no directors’ residence requirements;
There must be a local registered secretary and office;
Legal address – must be in Austria;
Accounting and reporting is a must.

 Company GmbH – minimum authorized capital of at least EUR 35,000, and half of the amount should be paid at the time of the company’s registration.

AG has a minimum authorized capital of EUR 70,000 and half of the amount should be paid at the time of the company’s registration.

Each country has its own peculiarities and uniqueness – Turkey is no exception. Its geographic location, the services it provides and the abundance of goods and the tax system can diversify and expand your business.

Changes in market requirements and tightening of bank requirements dictate new business conditions and require new opportunities for its development. Our company works closely with many EU countries and other countries. We offer you company registration in Turkey as well as in cooperation with banks in this country.

In Turkey you can register:
Anomin Sirket – Joint Stock Company;
Limited Sirket – Private Limited Liability Company;
Kollektiv Sikret – Partnership with Unlimited Responsibility;
Team Sirket is a limited partnership.
Private companies and joint stock companies are usually registered.

Authorized capital:
Public Company (Anomin Sirket) – 50 000 Lir;
Limited Liability Company (Limited Sirket) – 10 000 Lir.

Income tax:
33% for private and public companies;
46% – representations of foreign companies.

Company office address registration:
This is one of the main conditions for registering companies. The office can be rented or purchased (the price depends on the location of the office).

Business Founders:
Natural persons;
Legal entities;

When buying a company in Turkey, it is necessary to employ at least one national of this country (this may be the director or other employee who will work in the office). These companies can become VAT payers and get the EORI code without much effort. This will be facilitated by the provision of export services. There are many banks in Turkey, but you need to get potential numbers to open an account. This number is provided by public authorities.

Czech Republic

Czech Republic, or officially the Czech Republic, is located in Central Europe. The country is bordered by Poland in the north, Germany in the north-west and west, Austria in the south, Slovakia in the east. Prague, the capital of the Czech Republic, is the largest city in the country and the most important tourist attraction. The Czech Republic has been a NATO member since 1999 and a member of the European Union since 2004. The Czech language has the status of an official one. The Czech crown is the national currency of the Czech Republic.

Today, registration of a company in the Czech Republic is the legal and most affordable way to obtain a residence permit in the Czech Republic in the future, as well as purchase a car lease or a mortgage on real estate.

Registration of AS and SRO companies in the Czech Republic is most in demand today.

  •  “SRO” (společnost s ručením omezeným), Limited Liability Company;
  • “AS” (akciová společnost), Joint Stock Company;

To register a company in the Czech Republic, a potential owner usually needs to go through the following steps:

– checking the name of the future company;

– police clearance certificate translated into Czech;

– Obtaining a legal address (initial) for 1 year;

– opening a bank account;

– preparation of the necessary constituent documents;

– payment of state fees;

– memorandum of association with a notary’s record;

– company registration in the commercial court and financial management;

– production of the seal of the future company.

Providing an initial legal address for use within 1 year is one of the main components of a complete package of documents for registering a company in the Czech Republic. This will make it possible for the obligatory postal correspondence of the state authorities of the country with you.

Accountancy in the Czech Republic.

  • The accounting report must be submitted once a year, until March 31 of the next year (it is possible to postpone the deadline until June 30);
  • Submission of documents with reporting can occur just a year (suitable for firms that conduct small business), and monthly (this is especially important for VAT payers).

Taxes in the Czech Republic.

Income tax: 19% for legal entities, 15% for individuals.

VAT: 15-21% (depending on the type of activity of the company).


Located in Eastern Europe, the Republic of Bulgaria occupies the east of the Balkan Peninsula and shares borders with Greece, Turkey, Serbia, Romania and Macedonia. The capital is Sofia. Large industrial centers of the country: Varna, Plovdiv, Ruse, Burgas, Shumen, Sliven and others. The official currency of Bulgaria is the Lev (BGN).

Types of companies used for international business and investment:

  • OOD (Limited Liability Company)
  • EOOD (Private Limited Liability Company)

To open a company in Bulgaria, you must fulfill the following requirements:

Shareholders and Directors.

  • The minimum number of Shareholders is one (natural or legal person). The minimum number of Directors is one (individual). There are no residency requirements for shareholders and directors
  • It is obligatory to have a legal address in Bulgaria;
  • LLC is registered with a minimum minimum share capital of 2 levs (about 1.2 EUR). When registering, you must pay at least 70% of the authorized capital.

Taxation, reporting and audit.

  • Corporate income tax – 10%.
  • Tax on dividends received from abroad – 0-10%.
  • Tax on dividends paid abroad – 0-5%.


The VAT rate in Bulgaria is 20%.

Compulsory registration under VAT for companies with a turnover of more than 50,000 levs. Compulsory VAT registration for companies doing business abroad in Bulgaria.

Submission of financial statements.

Annual reports and financial statements must be filed with the tax office. Profit tax reports are submitted annually. VAT reports are submitted monthly. ©


An audit is required if any of the following is true:

The company has properties with a total value of 1.5 million leva

The company has received trading income of over 2.5 million leva for the given financial year

The company employs an average of 50 or more employees in the current fiscal year

Do you have any questions?

You can ask a question from our consultant by filling out the form!