ACCOUNTING FOR  

CRYPTO EXCHANGE(S)

Lithuania currently offers cryptocurrency exchange and cryptocurrency depository wallet operator registration being only one of 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.

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Setting up the accounting system will cost from €350.

Per API connection individual fees apply depending on liquidity providers.

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INTERNATIONAL TRADER(S)

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, we have the connections, not only in Lithuania but also in Latvia - Liepaja, Ventspils, Riga sea-port, 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). 

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Prepare a monthly accounting report that will cost from €150.

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TAXATION

For Lithuanian companies

Lithuania is 3rd most attractive taxation in the EU among OECD countries. https://tax-competition.org/lithuania Currently the corporate tax is at a 15% rate from the reporting annual profit and 15% for withholding tax. If you already have an Estonian, Latvian, Hong Kong, Cyprus, Malta, Bulgaria, Switzerland, or other tax-effective jurisdiction based company that has the treaty with Lithuania, you can thus incorporate a subsidiary where, for instance, an Estonian company will furthermore increase the attractiveness of your annual corporate tax down (from) 0%. Regarding the VAT rules, please read in the following section - VAT 0% or 21%?

Furthermore, it will complement the companies owned only by individuals/natural persons in shareholders as it further provides an incentive for deducted tax, e.g. 0% corporate tax in the first year, and 5% thereafter.

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Note

KYC requirements must be passed by each of our customers without exception. For this purpose, we will ask you to share with ALT Corporate UAB - a copy of the passport and proof of address from both the Ultimate Beneficial owner(s) and Director(s), with the liveliness ID verification.