“As a client representative in the Finnish, Swedish and Lithuanian markets, I have witnessed exceptional results that our clients have achieved. Our expertise in understanding the complexities of local regulations and providing tailored financial solutions has enabled businesses to thrive and make informed decisions, ensuring their long-term success in these markets.”
Mailika Hindrikson Muru
Market Manager in Scandinavia and Baltics
“At 1Office, we’ve helped lots of businesses in Finland, Sweden, and Lithuania. We’re all about paying close attention to details and helping companies in these places get clear on their finances. It’s like giving them the tools to grow in a way that lasts.”
Startups & freelancers
Accounting for startups requires a flexible approach that accommodates rapid changes, uncertain revenue streams, and evolving business models. Custom accounting solutions for startups encompass specialized tools and methodologies to address these dynamics effectively. This includes implementing scalable accounting systems that can accommodate growth, providing real-time financial insights for informed decision-making, and establishing robust budgeting and forecasting processes to manage cash burn and runway.
An IT company, with its dynamic and rapidly evolving nature, requires a strong accounting partner to navigate the intricate financial landscape and achieve long-term success. 1Office as an accounting partner brings invaluable expertise in managing financial records, tax compliance, and financial planning.
Construction companies require special attention when it comes to accounting due to the unique complexities inherent in their operations, particularly in subcontracting and managing payrolls. A robust accounting system tailored to the construction industry can efficiently handle subcontractor management, track costs, and accurately allocate expenses to different projects.
Wholesale and retail
Wholesale and retail companies necessitate custom solutions in accounting due to the nature of their business, where profit margins are often tight. These industries typically operate on high volumes and low margins, making it essential to closely monitor and control costs, optimize pricing strategies, and effectively manage inventory. A tailored accounting approach can provide the necessary tools and techniques to address the specific challenges faced by wholesale and retail companies.
Biotech and healthcare
The biotech and healthcare industry requires custom solutions in accounting due to the unique intricacies and regulatory requirements inherent in these sectors. Companies operating in biotech and healthcare face complex financial challenges, including research and development costs, clinical trials, intellectual property management, and regulatory compliance.
The logistics sector demands custom solutions in accounting due to its intricate and multifaceted nature. Logistics companies face unique financial challenges, such as managing complex supply chains, optimizing transportation costs, and monitoring inventory levels. The sector’s success heavily relies on effective cost control, efficient resource allocation, and accurate tracking of key performance indicators.
Office email: email@example.com
Phone: +370 521 401 48
Address: T. Narbuto 5, Vilnius, Lithuania, LT-08103
Opening times: Mon-Fri 9.00-17.00, local time
1Office Lithuania UAB
Company No | 304628660
VAT No | LT100011293218
IBAN | LT357300010152948541
SWIFT/BIC | HABALT22
Why do I need tax registrations?
Registering for taxes in Lithuania is essential if you engage in economic activities or run a business in the country. Here are some reasons why tax registration in Lithuania is necessary:
- Legal Requirement: The law in Lithuania mandates that individuals and businesses involved in economic activities must register for taxation. It’s a legal obligation to ensure compliance with tax regulations.
- Tax Compliance: Registering for taxes allows you to fulfill your tax obligations accurately and on time. It ensures that you report your income, expenses, and other relevant financial information to the tax authorities as required by law.
- Avoid Penalties: Failure to register for taxes or non-compliance with tax regulations can result in penalties and fines. By completing the tax registration process, you reduce the risk of facing legal consequences and financial penalties.
- Access to Benefits: Tax registration makes you eligible for certain tax benefits, deductions, and credits provided by the Lithuanian government. This can help you optimize your tax position and potentially reduce your overall tax liability.
- Business Operations: If you run a business, tax registration is crucial for the smooth operation of your company. It allows you to issue invoices, enter into contracts, and engage in various business transactions while complying with the legal framework.
- Financial Transparency: Tax registration contributes to financial transparency. It enables the tax authorities to track economic activities, ensuring that businesses contribute their fair share to the public finances.
In summary, tax registration in Lithuania is not just a legal requirement; it’s a fundamental step to ensure compliance with tax regulations, avoid penalties, access benefits, and facilitate the smooth operation of your business in the country.
Why should I order address service?
In Lithuania, it is a legal necessity for companies seeking to operate legitimately to possess a local legal address. This legal address is officially recorded on the Central Commercial Register and is accessible to the public. All official correspondence of the company will be directed to this address, and its visibility on the register is mandatory throughout the company’s registration period. For non-residents who have established a company in Lithuania but lack a physical office, opting for an address service proves to be the optimal solution.
Can I start any kind of business with 1Office?
Yes, almost any kind. We offer our services to startups, freelancers and contractors (software developers, IT experts, business consultants, marketing & sales specialists, designers, translators etc), companies working in wholesale, transport, IT, healtcare, construction, consulting, e-commerce etc. Unfortunately we can’t serve clients who deal with cryptocurrency.
Which taxes do I have to pay?
Every person’s and company’s tax obligations are different and depend on several circumstances. To find out which tax obligations or tax risks you specifically have, please contact us to book a personal tax consultation.
Who has to submit annual report? What happens if I don't submit the annual accounts?
Submitting annual report is required for all companies registered in Lithuania even if there is no activity during the financial year. When the annual report is not submitted, penalties may apply.