Foreign entrepreneurs moving to Lithuania in order to start their own businesses have various choices when it comes to the industries they can perform in. Among these, manufacturing and information technology (IT) are two of the most prolific.
Lithuania has one of the youngest workforces in the European Union, therefore with a high computer literacy rate, and those who want to open IT companies here can take advantage of that.
Below, our company formation agents in Lithuania explain the requirements related to opening an IT business in this country.
Company formation requisites for an IT business in Lithuania
Local and foreign investors who want to open Lithuanian IT companies must consider the following aspects:
- – they are required to select one of the types of structures imposed by the Company Law;
- – the chosen business structure must be registered with the Lithuanian Trade Register;
- – tax, VAT, and employment registration are mandatory when opening an IT company;
- – the company must apply for the appropriate licenses with the Communications Regulatory Authority.
Our company registration advisors in Lithuania can help foreign investors choose the right type of entity for their IT business.
Licenses for IT companies in Lithuania
As mentioned above, opening an IT company implies obtaining certain authorizations from the National Communications Regulatory Authority. These authorizations or licenses will depend on the services offered by the company. Among these, the broadcasting license is one of the most important. Lithuanian IT companies must also use equipment approved by the same authority.
Services offered by IT companies in Lithuania
IT companies can offer a wide range of services to their Lithuanian or international clients who can be natural persons or other companies. Among these services we mention:
- – the provision of Internet services and maintenance for the equipment used for such services;
- – software development, which can imply the creation of various types of computer programs;
- – hardware and software repair services, which is one of the most developed branches of the IT sector in Lithuania;
- – online gaming creation is also quite popular among Lithuanian IT companies.
For assistance in opening an IT company, please contact our Lithuanian company formation consultants.