Company formation services

MB (Small partnership) is a small business entity in the jurisdiction of Lithuania with limited liability.

A small partnership (MB) is a type of limited liability company, which can be owned and managed even by a single natural person. A small partnership is a private legal entity with limited liability. This means that members are not liable for their assets for the unfulfilled obligations of the small partnership.

Click here to learn more about Small Partnerships: taxation, accounting, reporting, transferring.

Limited liability company

in a week’s time!

From €1499,-
Company formation term4-5 business days from the date of the approval of the acceptance of the founder
Minimal share capital€0.00
Members (founders)Natural persons only.
Minimum – one founder, max – 10 members
Full remote incorporationYES
Personal presence in LithuaniaNot required
Nominal director in LithuaniaNot required
European IBAN account YES
Worldwide SWIFT payments in euros YES
Direct online access to the company’s account YES
Ability to provide crypto-exchange activity YES

The Small partnership Package includes:

Company formation service

One time


Business address package



Accounting services

Monthly (paid for min. 6 months)


Business account opening

EEA residents, one-time


Business account opening

non-EEA residents, one-time



The owners of the company are called members and can be as many as 10. Legal entities can not be members of a small partnership.
The MB can choose to operate directly through a member or by hiring a director.

Onde ordered, the MB is formed by our incorporation partners and then transferred to you by signing a simple agreement, which is then registered with the Company Registry. Once your name is registered as a member of the MB – you are the rightful owner. No travel to Lithuania is required.

Taxation and accounting

If a member is not a Lithuanian resident, no additional social security taxes are applied.

The profit tax rate for an MB for the first year is 0%, if the yearly income is under 300.000 euros. For the subsequent years – 5%. If a company’s revenue exceeds 300.000 euros, the profit tax is 15%.

Dividends and other income from distributed profits shall be taxed at a rate of 15%.

The MB has to report yearly accounts to the State. Our accounting partners can handle the issue for as low as €99 per month.

The company will be required to register as a VAT payer if its income exceeds 45.000 euros per 12 months period. The standard VAT rate in Lithuania is 21%.

Allowed activity

MB can exercise almost unlimited types of economic activities, with a small list of exceptions, which require another form of legal entity by law, such as financial institutions, banks, insurance companies, etc.

Because ownership of an MB is restricted to natural persons, it is impossible to attract external VC investors to such companies in exchange for equity. However, an MB can be easily converted into a shared capital private limited company (UAB) by forming a minimal share capital of 2500 euros and conducting a company conversion procedure.
Having a Lithuanian MB allows you to open accounts on its behalf in many financial institutions in Europe, access financial markets, invest in real estate and other assets both classical and digital.

Business payment account

By placing an order and forming a Small partnership with us, you will get a European IBAN account for the company (subject to Compliance approval). The account maintenance fees and payment fees are not included in the package price and have to paid separately, in accordance with the standard tariffs of Paylar.


The company shall be formed in 3-5 business days.

The business account will be opened in 3-5 business days after the companies owner is approved by Compliance.

A company in Lithuania requires a physical address. We can provide nominal business addresses as well as required proof of address documents.
** Accounting services shall be paid for at least 6 months in advance.
*** Account opening fee includes business payment account opening and UBO screening. Changing the company’s UBO will require additional screening and approval by Compliance.

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