Professional assistance for smooth company closures in Lithuania
If you’re a business owner looking to wind down operations efficiently and compliantly, our expert team handles the entire process from start to finish.
Professional assistance for smooth company closures in Lithuania
If you’re a business owner looking to wind down operations efficiently and compliantly, our expert team handles the entire process from start to finish.
Why choose 1Office for closing down a business in Lithuania
Local expertise
Our team has liquidated dozens of companies, ensuring compliance with Lithuanian laws.
Risk Mitigation
Avoid compulsory liquidation pitfalls and fines, such as court involvement or restricted asset access.
Quick and efficient
We ensure all legal and financial obligations are met, reducing personal liability for directors.
Clear pricing
We handle all administrative fees to keep your expenses low.
Voluntary Lithuania UAB Liquidation
The liquidation of Lihuanian company takes 3-6 months and must be performed by a liquidator. Keep in mind that all accounting must be composed by the time of starting the liquidation.
STARTING FROM
1,280 EUR
Tax Deregistrations
We handle tax deregistration with the Lithuanian Tax Administration (VAT, prepayment, and employer registers).
STARTING FROM
300 EUR
Closure processes: Step-by-step
Shutting down your operations or putting business activity on pause is straightforward with 1Office as we guide you through every stage of voluntary UAB liquidation in Lithuania.
- Initial decision and preparation: Hold a shareholders’ meeting to approve liquidation with a 2/3 majority vote. Appoint a liquidator. Prepare an opening liquidation balance sheet to confirm solvency.
- Cease operations and settle obligations: Immediately stop trading. Terminate contracts, including employment agreements, and settle all debts, taxes (VAT, CIT, social insurance), and employee payouts.
- Public notifications: Announce the liquidation publicly which is a mandatory process and notify authorities like the State Tax Inspectorate.
- Asset management: Sell assets to cover remaining claims. Distribute any surplus to shareholders after creditor settlements.
- Final reporting and deregistration: Final accounts and annual reports must be submitted if the closure process takes longer than a few years, and apply to deregister from the Register of Legal Entities. Obtain clearances from archives and municipalities if needed.
Important! Your company’s accounting must be current before we begin. View our accounting services to get your reports and accounting in order.
Requirements and documents needed
To start, your UAB must be solvent (able to settle debts) and free from ongoing bankruptcy or legal actions.
- Shareholders’ resolution and liquidator appointment forms.
- Liquidation deed and balance sheets (opening and final).
- Notifications to creditors and public registries.
- Certificates from tax authorities, archives, and municipalities (e.g., land rent settlements).
- Employment termination and tax settlement forms.
- Application for deregistration from the State Enterprise Centre of Registers.We prepare and submit all paperwork on your behalf.
Important! Your company’s accounting must be current before we begin. View our accounting services to get your reports and accounting in order.
Costs and timeline
For the board of the company the liquidation process is a passive period and our liquidator takes care of everything for you.
Duration
Typically 4-6 months for voluntary liquidation, potentially shorter (up to 6 weeks in simple cases) or longer if disputes arise.
1Office fee
Our service starts at €445 (ex. VAT), plus government fees like €8.92 for deregistration and €12.06 for application processing. Compulsory processes can be 30-50% more expensive—opt for voluntary to save.
Accounting costs
If you need final accounting reports, we can help you there as well.
Frequently Asked Questions
If you cannot find a specific answer to your question, please do not hesitate to get in touch with us and we will get your questions answered right away.
What if my company is insolvent?
We recommend bankruptcy proceedings first, followed by compulsory liquidation. Consult us for options.
Can foreign owners liquidate remotely?
Yes, with the power of attorney there is no travel required.
What happens to assets?
Sold to pay debts; remainder distributed to shareholders.
Is dormancy an alternative?
Yes, for temporary pauses, but liquidation is better for permanent closure to avoid fines.
Trusted by business owners across 7 different countries
Get in touch with our business advisor
Tõnis Jõgeva
Business Solutions Advisor
“As a Business Solutions Advisor in the Finnish and Swedish 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.”
Tel:+358 40 196 9003
E-mail: tonis.jogeva@1office.co
Get in touch
Email, call or complete the form to request more information about 1Office Lithuania accounting services or how we can help you maintain a high level of quality in accounting and compliance for your business in Lithuania.
Email us
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Call us
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Visit us
T. Narbuto 5, Vilnius, Lithuania, LT-08103
Mon-Fri 9.00-17.00
A team on location with international experience
Our team’s international background and on-site presence offer valuable location-specific insights and perspectives.
Customised services based on your specific needs
Our approach to your business is personalised and focused to deliver the best experience.