Lithuania currently offers cryptocurrency exchange and cryptocurrency depository wallet operator registration being among the few European Union (EU) member states to do so. Furthermore, Lithuania is one of few EU/EEA jurisdictions having clear and transparent cryptocurrency regulation. Bank of Lithuania (Central bank and financial regulator) and Lithuanian Tax Inspectorate have officially published positions on cryptocurrency transactions, taxation, and other crypto-related issues. Further about the law Read here.
Setting up the accounting system will cost from €150.
Per API connection individual fees apply depending on liquidity providers.
Although Lithuania is not as famous as its other two Baltic brothers from the Taxation side, its Port in Klaipeda (the biggest in Baltics) and dozen of Logistics centers stretched from Kaunas to Vilnius, accompanied by the Railway from the East to the West, plenty of traders choose to physically transit their goods and commodities via Lithuania. We know the business, and we have connections, not only in Lithuania but also in Latvia - Liepaja, Ventspils, Riga seaport, Riga Airport, and Tallinn. We participated in various commodity sales JetFuel, Ethanol, Meat products, Cacao beans, Rice, etc. should you have the interest to do business in Lithuania and beyond, we may not just be the right partner for accounting, but also for your business (to expand).
Prepare a monthly accounting report that will cost from €150.
For Lithuanian companies
Lithuania is 3rd most attractive taxation in the EU among OECD countries according to 2020 report. https://tax-competition.org/lithuania Currently the corporate tax is at a 15% rate that can typically can apply for exemptions for up to just 5% of the Corporate rate from the reporting annual profit and 15% for withholding tax. Regarding the VAT rules, please read in the following section - VAT 0% or 21%?
KYC requirements must be passed by each of our customers without exception. For this purpose, we will ask you to share with ALT Accounting MB - a copy of the passport and proof of address from both the Ultimate Beneficial owner(s) and Director(s), and to pass ID liveliness verification.