News: Open an account in Lithuania

Opening an account in a bank in Lithuania

Economic crises of recent years contribute to the manifestation of instability in both the economy and the banking system in particular. In such circumstances, opening a bank account on the territory of other states has a number of advantages. The main ones are stability and accessibility of funds, as well as convenient access to invested/deposited money.

The growing popularity of offshore accounts in Russia successfully implements the desire of clients to open a bank account in Lithuania and securely keep money. Moreover, the banks of Lithuania allow to open an account for both residents and non-residents of the republic. Opening an account is also possible for natural persons.

The main bank of the country is the Bank of Lithuania that is a member of the European system. It constitutes a monetary policy and supervises commercial banks and other credit institutions. Since 2015, monetary unit of Lithuania is the euro.

Now there are 7 commercial banks, branches and representative offices of foreign banks in the country. Our company works with AB "Swedbank".

Required documents for opening an account in Lithuania

To open a corporate account with a Lithuanian bank, the following documents are required:

- certificate of registration of the company;
- company charter;
- letter of appointment of a general director and his international passport;
- the passport of the beneficial owner and the account manager;
- certificate of shares;
- power of attorney;
-  document confirming the ultimate beneficial owner;
- Good Standing (if the company was registered more than 1 year ago).

Information about the company should contain: the beneficial owner's contact details and his brief CV; sources of funds; purpose of the account and its operational list; the estimated annual turnover of the business; preliminary list of partners. The requirements for this block may have their own peculiarities in different banks.

Opening a bank account is quite a complicated procedure. You can undergo it yourself, but in order to reduce material expenses and time expenditures, it's better to place an order for specialists of our company.

Law&Trust International’s employees are ready to provide services for opening an account with Lithuanian banks. By contacting us, you save your time and get rid of additional concerns and worries when servicing the account.

The cost of our service for opening a bank account is 450 c.u. You can obtain detailed consultation online.