MIRRASIA  BUSINESS  ADVISORY

Lithuania Incorporation Guide

Establishment Requirements:
1. Minimum capital of 2,500 euros - paid to the capital account prior to establishment
2. At least one shareholder/director/top manager listed
3. Currently, there are no regulations related to cryptocurrency issuance, but services such as issuance of security tokens, financial services, remittance, and currency exchange may need to be licensed according to local regulations.

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Estimated time required for incorporation:
2-3 weeks after obtaining required documents

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Estimated lead time to open a bank account:
Depends on customer and industry, estimated 3-5 weeks

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required documents:
1. Copy of passport
2. Proof of address (English copy)
3. Identity verification
4. Application for establishment

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Information on self-authentication:

According to the recently strengthened TCSP license regulations and AMLO (Anti-Money Laundering Act), shareholders/directors must select one of the methods below to authenticate themselves. (Identification is an important procedure to prevent crimes such as forged passports, passport theft, and impersonation of others.)

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1) Take a photo and deliver it so that the passport and the person's face appear at the same time
2) Visit our office (Hong Kong or Seocho-gu, Seoul) with your passport and verify your identity
3) After issuing a certificate of passport copy at the ward office, submit it (cost: 1,000 won, takes about 2 days)
4) Passport notarization at a nearby notary office (inquire separately for cost and required period)

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Cost information:

Incorporation: 1,100
Notary Fee: 250
Registration of establishment: 100
1 year corporate address: 350
Bank Account: 400

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Total cost: 2,200 euros

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2,500 euros in capital + 2,200 euros for establishment and one-year management fee + bank fee for opening an account (estimated) 300 euros = 5,000 euros