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The establishment of a closed joint- stock company is possible in two ways:
1. when you take care of everything yourself; 2. when you contact a company that provides such services and entrust the process to specialists - us.
Either way, the result will be the same. i.e. newly established legal entity with limited civil liability (closed joint stock company or UAB), whose capital is divided into shares. The founding agreement of UAB is signed by all founders, who can be both natural and legal persons, or their authorized representatives. If the company is founded by only one person, the 18 cto f establishment of UAB is drawn up, not a contract. The establishment of a closed joint-stock company is considered to have taken place upon its registration in the Register of Legal Entities.
So, you are interested in establishing a UAB. Where to start is a question that is both simple and complex. You need to start, of course, with an idea, a clear plan, what kind of activity you want to develop, a vision, etc. If you already have all this and want to start a real business, know that the establishment of a closed joint- stock company is easily completed electronically and consists of the following stages:
✓ Choosing and reserving a name in the Register of Legal Entities. ✓ Preparation of incorporation documents. This is Memorandum of association of an LLC or deed, company statutes, minutes of the shareholders' meeting, etc. ✓ Giving a company a registration address. According to requirements This address is mandatory - no company can "float in the air". If you don't have an address with suitable premises, that's fine. We can give it to you. ✓ Authorised capital formation. Authorised capital for setting up a limited liability company must not be less than the requirements. The bank shall provide Memorandum of association of an LLC, a power of attorney and the opening of a savings account to which this or a higher amount is deposited, and the bank issues a certificate of the constitution of the authorised capital. ✓ Registration of a limited liability company at the Registry Centre with mobile signature.
Setting up a private limited company is executed when the Centre of Registers registers the new UAB, which is usually within 3 working days. How long it takes you to prepare all the necessary documents and find a suitable address for your company's registered office is up to you. Or on us - and we work without wasting your valuable time. Leave it to us and it won't take more than a week.
Do you have any questions about setting up a UAB? Contact us on the contact details below and you will have all the answers!
When is it worth establishing a UAB?
In order to start a business, the establishment of a closed joint stock company is often chosen. This legal form is one of the more popular options for business development and (each share gives one vote), but the company must also appoint a manager or form a board. development, when the goal is to make a profit. UAB can be established by natural and legal persons. The capital of such a company is divided into shares that can be bought, sold, pledged, or donated. The maximum number of shareholders can be 250. The most important decisions are made by voting
What are the main advantages of UAB?
Setting up a private limited company is often chosen because it is a particularly convenient legal form with attractive advantages: - setting up such a company is easy; - if the business idea doesn't take off, the shareholders are only at risk with the assets contributed to the LLC, and their personal assets untouchable; - There is always the possibility of selling the business or transferring shares to others; - Tax benefits apply to a limited liability company if there are no more than 10 employees and the income for the tax year is no more than 300 000 Eur. In this case, the corporate tax rate is 5% instead of 15%; - An LLC may issue new shares, which shareholders must pay to acquire a certain amount. This raises additional funds; - As the business grows and expands, the LLC is not obliged to change its statutes.
Setting up a private limited company online is a quick and easy process. You don't have to walk from your office queuing at the surgery or waiting in line to fill in and submit the required documents. Modern technology has made this process much easier. However, far from all people have the enthusiasm to delve into the legal and legal matters, wasting energy looking for model forms, figuring out what documents and how they must be completed. In fact, for most it is this part of setting up a business "shake hands". That's why we suggest you entrust these matters to us. We will be happy to do it everything you don't have the time, inclination or energy for.
Spend your time and energy on developing your future business, and leave the legal worries to us. Do you have any questions? Get in touch with us at the following contacts.
When is it not worth establishing a UAB?
Such a business model is not suitable if you do not plan a large turnover, expansion and a large number of employees, or you want to start the business alone. Also if the fixed minimum authorized capital seems too high. In this case, the more appropriate legal form is a small partnership (MB).
What should be prepared in advance in order to establish a UAB?
Think of a name. Various businesses have been created enough at the moment, so it is important that the name does not duplicate an already registered name of another company or brand. Nor can you be confusingly similar to him. It's great if you have a few options that you like. If one is already taken, you will choose another. Just try that the name reflects the nature of your activity, is easy to remember, and does not have to break the tongue. This is your business "business card", so it should not cause people discomfort or strange associations.
When establishing a UAB, you will need to submit the data of a new legal entity: who is its manager, what are the contact details, shareholders and everything else.
Documents and other information required for establishing a UAB:
1. Memorandum or deed of incorporation. 2. Details of founders (shareholders). 3. If the founder is another company, the details of its representative (name, surname, personal identification number, address), name, legal form, registered office address, and the register in which the data on this company are kept must be provided. 4. Name of the newly established UAB. 5. Address of the registered office of the newly established UAB. 6. Specify the persons who may represent the newly established UAB. 7. Amount of the authorised capital of the newly established UAB; 8. Nominal value of the share of the newly established UAB, issue price. 9. Number of shares and rights. It shall also indicate the number of shares each founder has purchased, the terms of payment, etc. If the shares are paid for by a contribution in kind, this shall also be indicated. 10. Deadline for convening the constituent assembly. 11. Procedures for the conclusion and approval of transactions and the return of initial contributions (if the LLC is not registered). 12. Date of conclusion of the Memorandum of Association.
If this part is not clear or you simply don't have time to explain what and how - you don't have to. Contact us using the specified contacts and we will complete all the steps of the UAB establishment process in the shortest possible time.
Your business, our worries! All our services are provided remotely, so you can contact us from anywhere in Lithuania. We guarantee fast and high-quality service and a smooth start of your business.
In this section you will find testimonials from our customers who have purchased our goods and services: consultations, trainings and seminars.
Before Visita, my accounting was a complete misunderstanding. I had recently changed my business from an IDV to an MB, so it was very important for me to understand and learn how to keep and manage my accounting tasks properly. Visita was very patient and clear and showed me step by step what to do in my case. So I am very grateful! It saved me not only time and nerves, but also money, because I will be able to do it myself!
Visita, thank you very much for your advice. Everything has come together 🙂 because I was always worried about all the things related to bookkeeping, and after the consultation everything is much simpler than it might seem at first sight. I was very impressed by your energy and dedication to your work! It is obvious that you are like a "fish in water" in your field 🐳
The consultation with Visita on MB taxes was very useful. Visita was very professional, clear and specific and gave me a complete strategy on how to manage the company's bookkeeping and avoid making mistakes. I recommend it!
These fun cards touched directly on financial choices and were a great excuse to talk about budget management in our family. The cards are more of a didactic tool than a game, but the questions and advice on the cards are taken from real life and make us think about what would give us the most financial benefit in a particular situation? It was a great opportunity to pay attention to the correctness of our financial choices and to relate them to our everyday life.
I was pleasantly surprised by the cards. One of the things I appreciate most about these cards is that complex financial information is easy to understand and apply. In addition, the practical exercises gave an even deeper understanding. After completing them, I finally saw the mistakes I had been repeating all along. I also developed a few habits that stopped me worrying about financial issues.
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