Opening a business bank account in EU has become quite difficult nowadays. There is no need to say why you should have a business bank account, it’s known to every businessman. Today Lithuania offers a unique business opportunity to open a bank account without any difficulties.
Benefits of opening a Bank account in Lithuania:
- Lithuanian banks allow to open bank accounts for both residents and non-residents;
- possibility to choose a bank in accordance with your business aims (in the country operates small local banks and the largest Scandinavian banking groups);
- possibility to open personal bank accounts for citizens of Ukraine, the Russian Federation, Belarus and other CIS countries;
- the Russian language is widely used (online banking, bank employees);
- multicurrency accounts;
- State-guaranteed deposits up to 100 000 euros per bank;
- there is no currency control in Lithuania, no restrictions on funds and bank transfers 24 hours a day.
- Possibility to request public, bank and other commercial services for your Lithuanian business using online banking service without your personal presence.
Procedure for Opening an Account
- For legal entities:
It is getting more difficult to open bank accounts in Lithuania for legal entities with non-resident owners (shareholder and/or director), but is still possible.
Each bank has its own requirements. Most of the banks ask to pay a non-refundable fee while submitting the documents, whereas some banks ask to provide extensive documentation proving the company’s business relationship with Lithuania.
Typically, the bank reviews the documents from a few days till several months, depending on the bank and company’s activities. It is also possible to open a bank account in Lithuania within 1 day that sounds like a fantasy for many European countries.
The personal presence of company’s director is required in any case.
- For individuals:
Generally, the requirements for opening a bank account for non-residents individuals in Lithuania do not differ from those imposed on a business account. You should visit the nearest bank department and provide your passport with a valid Schengen visa. You are also required to present some documents that prove your need for a bank account. Otherwise your application will be decline.
We select the bank that best suits our clients’ needs based on their citizenship and ties with Lithuania.