Economy in Lithuania
Lithuania With a population of 3.5 million, Lithuania is a pretty small but it regards itself as the region's economic powerhouse. Surely it has succeeded in attracting
significant inflows of foreign direct investment, with investors encouraged by a combination of a stable economy, low inflation, excellent
infrastructure, very competitive living and operating costs, availability of high-skilled workforce .It has Corporation tax of 15%, one
of the lowest rates in the EU. .
Setting up a business in Lithuania
The longest process in establishing a company in Lithuania is the VAT registration. This procedure is finished in 10 to 15 days, while registering
at the Company Register is completed in 6 days. Opening a bank account, informing the State Labor Inspectorate, and notarizing the company
memorandum take one day each. Opening a Lithuanian company takes up to 26 days.
Foreigners doing business in Lithuania
Lithuanian law permits foreign investors activity on its territory, allowing an unlimited ownership, or capital of a foreign entrepreneur.
An assignee must be authorized to represent the company and to file the documents needed to found a company, which should be translated in
Lithuania Business comments
it's a former soviet union state. It needs lot of improvement despite it's part of EU now.
Jay , USA