Clients' Testimonials

Mr. Tibor Janka, director of UAB „Baltum“


yourbusiness.lt services have always been professional and provided in due course from the very beginning of our cooperation. I mean not simply buying a company alone but also approaching the team of yourbusiness.lt for various services afterwards. I would in fact recommend this name to anyone interested in an easy going business startup process in Lithuania.

 

VAT Registration

VAT (Value added tax) registration for Lithuanian companies


VAT registration is compulsory for Lithuanian companies in the following cases:

  • If the company’s income for the goods and services sold in Lithuania during the recent 12 months exceeds the value of 155 000 LTL (approx. 45 000 EUR);
  • If the company acquires goods in the territory of Lithuania from other EU Member States which value during the last calendar year exceeds 35.000 LTL (approx. 10 000 EUR).

A company may also register as a VAT payer voluntary. However, in such cases registration cannot be cancelled for 2 years from the registration date.
The price for our services  in VAT registration for a Lithuanian company is 190 EUR (all expenses included). We would register the company as a VAT payer during the process of acquisition. It would take no longer than 5 business days after we have received all the necessary information:

  • description of the company's activity;
  • main suppliers and customers;
  • data on the persons controlling the company;
  • data on the persons responsible for the company’s accountancy.;
  • information about the real estate or any other fixed assets which are used in company’s activity in Lithuania (name of property, legal grounds of use), if any.

 

VAT registration for foreign companies:


If the foreign company has a permanent establishment in Lithuania, an application to register the foreign taxable person for VAT purposes in Lithuania should be submitted via the permanent establishment.
If the foreign company has no permanent establishment in Lithuania, it registers for VAT purposes directly or (only in some cases a Lithuanian fiscal representative is required).
VAT registration in Lithuania is compulsory for foreign persons in the following cases:

  • When begins to supply goods or services and the place of such a supply is Lithuania (with some exceptions);
  • If acquires goods in Lithuania from another EU member state (except the new means of transport or the goods which are subject to excise duties) and the value of such goods was above the limit of 35 000 LTL last calendar year or it is foreseen that the value of such goods will be above the limit of 35 000 LTL this calendar year;
  • If the Lithuania was chosen as the place for distance selling or the value of the goods supplied in Lithuania under the distance selling scheme is above the limit of 125 000 LTL, or the goods supplied under the distance selling scheme are subject to excise duties.

The price for services in VAT registration for a foreign company is 290 EUR (all expenses included). It would take no longer than 5 business days after we have received all the necessary information:

  • a registration certificate of tax payer issued in a foreign country (it is recommended to apostille this document in a foreign country, we will take care of translating it into Lithuanian language);
  • extract regarding the company from the relevant commercial Register of the foreign country;
  • documents identifying the persons controlling the company;
  • a person responsible for handling the company’s accounting;
  • a short description of the company’s activities;
  • list of main suppliers and customers of the company;
  • information about the real estate or any other fixed assets which are used in company’s activity in Lithuania (name of property, legal grounds of use), if any.