UAB key features
1. Who can be incorporator
- Natural and legal persons of any state;
- There can be from 1 to 250 shareholders in the company.
2. Authorized capital
- Minimal authorized capital must be at least 2 500 €.
3. Manager (director)
- The company in Lithuania must have a Manager (director);
- Only natural person of any citizenship can be the Manager (director).
- Dividends can be paid for shorter period than financial year and a few times a year;
- According to Double Tax Agreement. If there is no Double Tax Agreement, 15% is applicable for natural person. No taxes for legal person.
5. Audit is compulsory when
- At least 2 indicators thereof on the last day of the reporting financial year exceed the following limits:
– Net turnover during the reporting financial year – 3 500 000 €;
– The value of the assets specified in the balance sheet – 1 800 000 €;
– Average number of pay-roll workers during the reporting financial year – 50.
6. How to liquidate the company in Lithuania
- The liquidation procedure takes approximately 4-6 months;
- The essential condition – to redeem debts.
If you have further questions, contact us +370 5 243 0344, teise[eta]audita.lt
Head of Legal Unit
+370 5 243 0344 firstname.lastname@example.org