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Opening a bank account

Opening a bank account

The company that is active in Lithuania should have a bank account in one of the Lithuanian banks. It makes the process of financial settlements with employees, suppliers, partners, and other persons easier, as well as the procedure of paying taxes to public authorities.
Opening a bank account in one of the Lithuanian banks is not a simple process if the company owner is a foreigner or foreigners. Lithuanian banks have tightened the policy of opening bank accounts and the reliability verification of foreign subjects and their authorised capital. Upon opening a bank account, the customers are required to provide a thorough information about company activities, activities scheme, company suppliers, partners, customers, property, capital, investments, etc. Decision making of the bank with respect to the account opening takes 1-5 days or even a week. There are common cases when the bank refuses to open a bank account to a foreigner or foreigner's company. Such decisions are most often made by biggest Lithuanian banks.
However, despite all the difficulties, it is possible to open a bank account in one of the Lithuanian banks. Our specialists can help you with this issue. We provide consultations, legal aid, representation of a customer's interests, and escort while opening both company and personal bank accounts in Lithuania.
Main Lithuanian banks: Swedbank, SEB Bank, DnB Bank, Danske Bank, Šiaulių Bank, Medicinos Bank, Nordea Bank, and others.
Currently it is considered to accept legislation in Lithuania that would make it easier for the foreigners to open a bank account in one of the Lithuanian bank accounts since 2016. The foreigners would be able to open the account using their electronic signature that has not been provided to foreigners until now.

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