Open a Bank Account in Lithuania

Updated on Thursday 06th December 2018

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Open-a-bank-account-in-Lithuania.jpgLithuania is made up of a young population compared to other European countries, which is one of the reasons it attracts many investors. However, people also move here for employment purposes, case in which certain steps must be completed once one relocates here. Opening a bank account is one these primary steps and it applies to both foreign citizens and companies registered in Lithuania.

If you want to open a bank account in Lithuania, you must first choose a bank and then prepare the paperwork requested by the respective bank. Our company formation agents in Lithuania can guide you through the process of setting up a bank account in this country.

Types of bank accounts which can be opened in Lithuania

The Lithuanian banking system is quite advanced and both local and foreign citizens can open bank accounts here. There are several types of bank accounts which can be opened, among which the most sought are:

  • - current and savings accounts for natural persons, who can be residents or non-residents;
  • - corporate bank accounts for companies, which must be opened prior to the company registration.

We remind investors that the corporate bank account is mandatory when opening a company in Lithuania, as the share capital must be deposited here prior to the business registration procedure. Also, you can rely on our local consultants for assistance in setting up a corporate bank account in Lithuania.

Setting up bank accounts for natural persons and companies in Lithuania

Non-residents are allowed to open bank accounts in Lithuania, however, local banks are usually cautious about this type of clients and the list of documents requested in their case is more extensive.

In order to open a current bank account in Lithuania, a natural person must submit:

  • - an application form which is issued by the bank (each bank has its own forms);
  • - an identification document which must be valid (ID card or passport);
  • - a residence permit and other documents, in the case of foreign residents.

In the case of companies, information about the authorized person and about the company must be submitted when opening a Lithuanian bank account.

Our company registration representatives can offer full information on the documents needed to open a corporate bank account, so do not hesitate to contact us. We can also guide you through the procedure of opening a company in Lithuania by preparing and filing the necessary documents with the relevant authorities.



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