Establishment of a company, branch, or representative office in Lithuania
Each form of business has its own characteristics, its pros and cons. We will help you choose the optimal organisational and legal form of the company and will continue to provide legal services
Total accounting services package
Westved does not limit itself to appointing an accountant. We offer our clients a flexible accounting and tax accounting management system, all the way from selection of document templates to archiving of them.
Obtaining a corporate VAT number in the European Union
Companies with a VAT identification number in one of the EU member states are exempted from the obligation to pay this tax
Company VAT representation service (fiscal agent)
After registering as a VAT payer, a foreign company is given the opportunity to carry out its activities in the territory of the EU without establishing a company in the European Union.
Organisation of VAT overpayment recovery
If a company’s VAT overpayment has occurred, it can be recovered and credited to a future payment or tax account.
Partner Services
Westved can offer customers high-quality and reliable partner services in the following areas: freight forwarding, logistics, warehousing, customs brokerage services, migration law.
SERVICES FOR FOREIGN COMPANIES
Sometimes, for more efficient operations abroad, a company can open a company, branch or representative office in another country. This may be desirable, for example, if the market in the home country is underdeveloped – or, conversely, if it is saturated – in order to optimise its foreign economic activities such as import and export processes, or to obtain work permits, work visas and residence permits for foreigners.
Westved offers services to foreign companies in the following areas:
- helping foreign companies to set up a business in the European Union;
- foreign economic and tax consulting;
- organisational and legal services in the course of operations;
- complex services in accounting and management of its distinct business streams;
- assistance in optimising foreign economic activity.
Establishment of a company, branch, or representative office in Lithuania
If you are preparing to open a company, representative office or branch in Lithuania and are looking for a reliable partner who could provide a complex of services needed by foreign companies, Westved is ready to offer its experience and knowledge.
Total accounting services package
Depending on the type of activity of the company and its size, you will be able to order both complex accounting of the company and specific services – preparation of reports, calculation of wages, preparation of the company for tax inspections and so on.
Obtaining a corporate VAT number in the European Union
The VAT code (Value Added Tax) is an analogue of Lithuanian PVM (pridėtinės vertės mokestis) – ‘added value tax’. Companies with a VAT identification number in one of the EU member states are exempted from the obligation to pay this tax. For example, if a Lithuanian company buys something from a German company, the latter must increase the price of its goods by the amount of the VAT rate, if the Lithuanian company does not have a VAT code. But if a Lithuanian company has such a code, it can purchase a German product without paying this tax.
Company VAT representation service (fiscal agent)
This service is intended for companies operating in the European Union (for example, buying goods and reselling them in the EU) without setting up a business in the EU. Such companies have the right to continue their activity in the EU by applying for VAT registration.
In order to obtain a VAT code, a company must choose an auditor who will be the official “VAT representative of the company”. This auditor will be responsible for the activities of the company where the VAT code was used. He must be informed of the invoices received and issued and must draw up monthly reports on all the company’s activities.
So, how useful is VAT registration?
After registering as a VAT payer, a foreign company is given the opportunity to carry out its activities in the territory of the EU without establishing a company in the European Union.
Organisation of VAT overpayment recovery
If a company’s VAT overpayment has occurred, it can be recovered and credited to a future payment or tax account.
When an overpayment may occur:
- the accountant may err in calculating and indicating in the declaration that the amount of VAT charged was excessive;
- the tax office may deduct an excessive amount of VAT;
- the company may pay the deficiency identified during the tax inspection and subsequently may appeal to the court for the additional amounts accrued.
Partner Services
One of the most important factors when choosing business partners abroad is the reliability of the company and the price of its services. That is why we spend a lot of time selecting the best companies in our field, and today we can offer our customers quality and reliable partner services in the following areas of activity:
- cargo transportation, logistics;
- warehousing services (terminal near Vilnius ~ 9000 m2);
- customs brokerage services in the territory of the European Union and the Russian Federation;
- migration law. Work permits, work visas and residence permits for foreigners.