Lithuania to introduce official virtual registered seat

On October 2018 the Government of the Republic of Lithuania approved plans to introduce a virtual registered seat for businesses.

The Government of the Republic of Lithuania has approved a plan which should decrease the administrative burden on both newly established and long existing businesses by dropping the requirement to maintain a physical registration address. Instead, companies will be entitled to choose a virtual address. For the purpose of this registration method, a virtual delivery box (similar to e-mail) will have to be opened on the national information system for delivery of electronic messages and electronic documents. This virtual delivery box will be considered as the company’s address. For jurisdictional and administrative purposes, companies will have also to declare the municipality which they will be attributed to.

Such novelties, anticipated to become available in practice in 2019, should make company formation and changing premises a smoother and faster process. At the same time, it may perceptibly affect all current “virtual office” services providers, whose entire business model is based on providing a formal physical registration address without creating much additional value for the business.

Source: Decision of the Government of the Republic of Lithuania, 24 October 2018 “On submitting to the Parliament of the Republic of Lithuania a draft amendment to article 2.49 of the Civil code of the Republic of Lithuania”. No. 1060.

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