Can Foreigners Open a Bank Account in Lithuania?

LEGAL ADVICE

9/30/20251 min read

Why a Company Bank Account Is Essential

For foreign entrepreneurs establishing a business in Lithuania, opening a corporate bank account is one of the first and most important steps. Without it, you cannot:

Deposit the company’s share capital.
Carry out daily business transactions.
Pay employees and suppliers.
Fulfill tax and accounting obligations.

Can a Foreigner-Owned Company Open an Account?

Yes — companies owned by foreigners can open bank accounts in Lithuania. However, the process is often more complex than for businesses owned by Lithuanian residents. Banks apply strict compliance rules and carefully review foreign shareholders and directors.

Typical Requirements

When opening a corporate account, banks usually request:

Company registration documents from the Lithuanian Registry Centre.
Identification documents of shareholders and directors.
Proof of company’s planned activities and business model.
Information on the origin of funds to be deposited.

In many cases, the bank requires the company director or representative to appear in person at the branch.

The Challenges Foreign Entrepreneurs Face

Residency restrictions – if the company director does not hold a Lithuanian residence permit, banks may be reluctant to open an account.
Lengthy due diligence – banks carefully investigate foreign-owned businesses to comply with EU anti-money laundering rules.
Risk of refusal – even if documents are submitted, the bank may reject the application without explanation.
Language barriers and formalities – misunderstandings in documentation can lead to delays.

How Legal Support Can Help

Legal assistance can significantly increase your chances of successfully opening a company account. A lawyer can:

Advise which banks are more open to foreign-owned businesses.
Prepare and review all required documents.
Represent you in communication with the bank.
Minimize the risk of rejection and speed up the process.

Final Note

While it is possible for foreigners to open a company bank account in Lithuania, the process is not always straightforward. Stricter compliance checks and residency requirements often make it challenging. If you are facing difficulties, professional legal support will help you navigate the process and ensure your business can operate smoothly.