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Documents containing information about company directors, managers, and shareholders with special participation
There are several ways to ensure that you have a legal address for your company in Hungary:
ING Bank – mainly serves holding structures.
Best European countries to start a business in 2024
Attractive tax system: The Czech Republic offers competitive tax rates for business.
Requirements for obtaining a licence
All business entities must be registered in a single Register of Legal Entities. When initiating a business, the choice of legal form is crucial. The most prevalent options for company registration in Lithuania include a closed joint-stock company (UAB), a small company, and an individual enterprise. Statistics suggest that opting for a JSC is the most practical choice. Over 90% of Lithuanian enterprises are registered as closed joint-stock companies (UAB). Founders, up to 250 shareholders, can be natural or legal persons, with no restrictions on citizenship. Management bodies encompass the general meeting of shareholders, the supervisory board, and a head who can be an individual, including a non-resident. Alternatively, a collegiate body can manage the company instead of a sole manager. Lithuanian legislation mandates that the statutory capital of a closed joint-stock company must be no less than 2,900 euros. At registration, 25% is paid, with the remainder settled within a year. Funding sources include transfers from any bank, including international accounts, and cash deposits into the company’s savings account. The primary benefit of UAB is limited liability to creditors, ensuring shareholders and owners are not personally responsible for company debts. Mandatory audits are required if the company employs 50 or more people, its assets exceed 720,000 Euros, or its settlement accounts hold 1,400,000 Euros or more.
1,500 EUR
2000 GBP (if the company’s income is less than 250,000 GBP)
For private limited liability companies in Cyprus, the legislation does not set a specific minimum amount of authorized capital. This means that founders have the flexibility to determine the amount of authorized capital that they consider necessary to start a company. Although there are no strict requirements, it is common practice to set an authorized capital of between 1,000 and 10,000 euros, which can be deposited in the form of cash or other assets.
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