Open a bank account in Lithuania

Lithuanian Banks

The Bank of Lithuania is the central bank that regulates the activity of commercial banking institutions and credit organizations. It is a member of the European System of Central Banks.

• Luminor Bank AB is the third biggest bank in the Baltic States.
• Siauliu Bank – works with private persons and corporate clients.
• Meridian Trade Bank – universal Latvian bank with a wide spectrum of services.
• Medicinos Bank is a medical bank, one of the first in the country that started to provide Internet banking and mobile wallet services.
• Bigbank AS: An international bank operating in 9 European countries: Lithuania, Latvia, Estonia, Austria, Germany, Spain, Finland, Sweden, the Netherlands.
• DnB NORD is part of the biggest financial group DNB ASA (Norway) operating in the markets of Denmark, Finland, Poland, Estonia, Latvia and Lithuania.

Advantages of Opening an Account in Lithuania

• Internet banking in Russian.
• Multi-currency account.
• Security and stability.

How to Open an Account for a Non-resident

Not all Lithuanian banks are ready to open an account for a non-resident. As a rule, a substantial reason is needed to open an account, such as:

• opening a business in the country;
• studying at a Lithuanian university;
• work in the country;
• obtaining a residence permit.

Loyal to foreign citizens are: Meridian Trade Bank, Medicinos Bank, Siauliu Bank.

Required documents

• identification card
• valid visa, residence permit or permanent residence
• a completed questionnaire in which it is necessary to explain the reason for opening an account

Different banks may require additional documents.

The question of opening an account for any European company in the EU to date is very complicated. There is no need to talk about the importance of having a bank account with a company; every businessman knows this. Now, Lithuania offers a unique opportunity for business to open the desired bank account without problems.

• It is possible to choose a bank in accordance with the business objectives set; both small local banks and the largest Scandinavian groups operate in the country.
• It is possible to open bank accounts for individuals-citizens of Ukraine, Russia, Belarus, and other CIS countries.
• The Russian language is in wide use: Internet banking, bank staff.
• The multi-currency account is available.
• State guarantee of return of deposits up to 100,000 euros in one bank.
• The lack of currency control in the country, the availability of funds and transfers at any time of the day.

The opportunity of ordering government services, bank services or other commercial services for your business in Lithuania without personal presence via Internet banking.

Account Opening Procedure

For legal entities:

While the opening of an account in a company whose shareholder and/or director is a non-resident of Lithuania is becoming more difficult in Lithuania, it is not impossible.

Each bank is different, and most of them request an irrevocable fee in advance that one needs to pay when submitting documents. Apart from all the documents, some banks request extensive documentation that confirms the company’s connection with Lithuania.

On average, the time of consideration of documents takes from several days up to a couple of months depending on which bank would consider the documents and what the company is going to do. It is also possible to open a bank account in Lithuania in 1 day, which in reality is something like some kind of fantasy even for many European countries.

Anyway, the director of the company has to come in person to the bank when opening a bank account.

For individual persons:

Generally speaking, the rules of opening a bank account for non-residents in Lithuania do not differ from the procedure of opening an account for a company. You need to report to the nearest service department and present your passport with a valid Schengen visa. Also, you are obliged to confirm the need for a bank account, and sometimes the connection with Lithuania. Otherwise, the account will not be opened for you.

We choose for the clients a bank that best fits the request and needs of the client according to his citizenship and links with Lithuania. In case you address a bank that is not suitable for you and does not work with clients like you, you risk wasting time and staying without remuneration for document processing, which is not returned even in case of refusal in opening a bank account.

Whether opening a business bank account in Lithuania or providing other corporate services, the professionals at Regulated United Europe are ready to provide assistance. For eight years, we have been serving our customers with bank account opening in Europe. Our extensive network of trusted contacts across the European financial services sector enables us to provide tailored and cost-effective solutions that enhance the operations of the businesses we serve.

Lithuania Business Bank Account

Opening a business account in Lithuania is significant for every entrepreneur who wants to realize his business plans in this Baltic country. Lithuania, a state of the European Union, due to its favorable business climate, transparent legislative environment, and modern infrastructure, opens up great opportunities for international business. Below we will look at key aspects and procedures related to opening a business account in Lithuania.

Advantages of Opening a Business Account in Lithuania

• Favourable Business Climate: Lithuania is known for its open and business-friendly environment. It opens widely to investment opportunities and supports entrepreneurship in every way.
• Simple Company Registration: The procedure of registering business in Lithuania is quite smooth and effective; it facilitates the opening of a business account.
• Modern Banking Services: Banks in Lithuania are very modern and offer a wide range of services for businesses, such as internet banking, international payments, and lending for all kinds of needs.
• European Jurisdiction: Due to its membership within the European Union, business in Lithuania enjoys all the rights of the European legal system and market.

How to Open a Business Account in Lithuania

Opening an account in Lithuania is one of the most important steps towards prosperous business in the State. Having a very good business climate, modern banking infrastructure, and European jurisdiction, Lithuania is a very attractive country for entrepreneurs from around the globe. You should be well-prepared for the process of opening an account, considering all the requirements for that, as well as the selection of the best bank for your purposes.

Personal Bank Account in Lithuania

The first and significant step toward effective management of one’s personal finances in Lithuania would be the opening of a personal bank account. Indeed, a wide variety of banking services and a high level of service make opening an account easy and comfortable for both locals and foreign residents. In this article, we will look at the main aspects and the very procedure for opening a personal bank account in Lithuania.

Advantages of Opening a Private Bank Account in Lithuania

• Reliable and Safe Custodianship: Banks operating in Lithuania enjoy a reputation for being reliable and stable, therefore guaranteeing safe custody of funds and protection of the interests of customers.
• Great Variety of Banking Services: The State of Lithuania offers numerous banking products and services, including but not limited to different account types, credit and debit cards, savings programs, and investment opportunities.
• Convenience of Use: Most banks in Lithuania develop and provide contemporary online platforms and mobile applications that facilitate managing any account anywhere in the world at any time, easily and comfortably.
• European Jurisdiction: Being a member of the European Union, bank accounts in Lithuania enjoy the advantages of European jurisdiction, including consumer protection provided for by European law.

How to Open a Personal Bank Account in Lithuania

It is a very good step toward financial stability and, at the same time, a convenient way to manage one’s personal finance—to open a personal bank account in Lithuania. Due to the favorable banking climate, modern infrastructure, and European jurisdiction, Lithuania boasts very good opportunities for opening an account and receiving quality banking services. While selecting the bank, one should pay attention to its reputation, terms of service, and level of technological sophistication to get maximum comfort and reliability in managing personal finance.