How to buy a ready-made company in Lithuania in 2023
Lithuania boasts a stable and robust economy, thanks to a series of government reforms aimed to support business. Foreign capital into the country has played a significant role in this. In addition, local laws are investor-oriented, so the purchase of a ready-made company in Lithuania in 2023 is fast and requires a minimum package of documents.
The only difficulty is finding a ready-made company that meets all the requirements. And to solve this, we advise you to contact IT-OFFSHORE experts. We have a list of companies with a clean history that have undergone due diligence.
Features of buying a ready-made business in Lithuania
There are two types of ready-made companies available to buyers:
- A working business. Its advantages are an established brand, knowledgeable employees, customers, and suppliers. Amongst the disadvantages - one cannot rule out the risk of hidden loans, unfulfilled obligations, and involvement in the fraud. Therefore, you should carefully check such a business before buying it.
- Shelf company. It is a company created specifically for sale. It has a complete package of documents confirming state registration. At the same time, it has never worked, so it has no debts, unfulfilled obligations, etc.
If you decide to buy a shelf company, we recommend choosing a business incorporated more than two years ago. Even if the company hasn't been in operation, it has a history, so it has more credibility with customers than a firm established a month ago. Also, banks cooperate with it more willingly - they open an account and give favorable loans.
The most popular with foreign investors are shelf companies, registered as LLCs. Having completed the transaction, the buyer receives a legal address and founding documents approved by the local authorities. By prior arrangement, you can buy a business with an open bank account and VAT number, which will affect the company's final price.
How to buy a ready-made business in Lithuania
Buying a company takes one day if investors have all the necessary documents. After that, the deal takes place before a notary. If a purchaser can't come, he can appoint representatives (for example, issue a power of attorney to our company's employees).
To buy a ready-made business in Lithuania in 2023, the new owner must provide the following information:
- telephone number;
- residence address;
- passport photo.
If the new owner plans to change the director, his data is needed when processing the transaction.
After the purchase
When the transaction is completed, the new owner can:
- Appoint new directors.
- Change the new address.
- Increase the share capital.
- Change the form of activities.
When all the documents are executed, it is necessary to register the transfer of ownership in the Lithuanian Commercial Register. A business license may be required after the transaction is completed (e.g., for crypto activities). In this case, you must submit documents to obtain one.
If the purchased business does not have a VAT number, it must be registered through the state tax inspectorate, which operates under the Ministry of Finance of Lithuania.
How to buy a ready-made company in Lithuania
Contact IT-OFFSHORE experts to buy a ready-made company in Lithuania in 2023.