Open Bank Account in Lithuania

Opening a Bank Account in Lithuania from another Country

We can assist you to open your bank account in Lithuania!

If you are living in Lithuania as a foreign resident or if you are thinking of moving there you will need to open a Lithuanian bank account. There are several important steps you should take especially if you are planning to open an account for a business.

The southernmost European Baltic state of Lithuania attracts many tourists, business people, students and workers from around the world despite its small size. Since the Republic of Lithuania’s independence from the Soviet Union in 1990 it has flourished and prospered and today is an EU member and thriving hub for the hi-tech industry.

What Documents will you Need to Open a Business Bank Account in Lithuania?

Like any bank across the globe you will need to present a number of documents when applying for a new business bank account in Lithuania. Some Lithuanian banks will ask you to fill in a questionnaire supplying them with more detailed and personal information. If you have your papers in order the process will be straightforward.

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What Documents will you Need to Open a Business Bank Account in Lithuania?

Like any bank across the globe you will need to present a number of documents when applying for a new business bank account in Lithuania. Some Lithuanian banks will ask you to fill in a questionnaire supplying them with more detailed and personal information. If you have your papers in order the process will be straightforward.

Private individuals applying for a business account in Lithuania will need:

  • Lithuanian citizen’s passport.
  • Lithuanian citizen’s identity card.
  • Foreign citizen’s passport.
  • EU citizen’s identity card (from one of the EU member states, Switzerland or Liechtenstein).
  • Proof of temporary or permanent residence status in Lithuania for the foreign passport holder.
  • Some banks may require your financial history and other documents.

Corporations applying for a business account in Lithuania will need:

  • Comprehensive company documents, including those proving the company’s legal status.
  • Personal details, legal documents and passports of company directors, shareholders, beneficiaries.

Some banks may require your business plan, financial history and other documents.

Financial Legislation in Lithuania and the EU

Lietuvos Bankas (the Bank of Lithuania) is the central bank of Lithuania and a member of the European System of Central Banks. Until 2015 the currency in Lithuania was the litas which was issued by Lietuvos Bankas; since then the euro has been Lithuania’s official currency.

Today Lietuvos Bankas still performs a vital function in the Lithuanian financial world; the Bank of Lithuania maintains price stability; formulates and implements national monetary policy and acts as the agent of the State Treasury.

Open Business Bank Account in Lithuania

For International Business, European companies, eCommerce and online activities.

Account at Valyuz UAB Lithuania

Valyuz is one of the leading EMIs in Lithuania offering individual private accounts and corporate bank accounts. Account holders can send and receive funds internationally; have an individual IBAN number; currency conversion; low-cost SEPA transfers; debit cards and a range of traditional banking services.

Best Lithuanian Banks for Non-Residents

SEB offers bank accounts to non-residents at low fees starting at 10 euro a month. This bank specializes in the non-resident market and as such offers these customers’ good deals.  With a SEB account you can hold multiple currencies; make online transactions; receive your salary automatically and pay bills.  SEB offers consulting and analysis services; payment cards and a range of service plans. SEB has a wide network of ATMs and branches or offices across the globe including New York, London, Beijing and Geneva.

Nordea (Nordea Bank Lietuva) has a long history that has earned it a reputation as a secure and safe bank. It is the largest financial group in Northern Europe and operates in the Nordic and Baltic regions with over 1,400 branches in 20 countries across the globe. Nordea offers non-residents accounts via an English-language online banking app and the accounts can be opened in practically any currency. They charge low monthly fees and offer debit cards; time deposits; online banking and use of their extensive network of ATMs. For corporate accounts Nordea offers short and long term financing for working capital and investment projects.

Swedbank is a convenient choice for non-residents as they have an extensive network of branches and ATMs across Lithuania. Their accounts have low monthly fees and you can apply for a debit card or credit card. Like SEB Swedbank allows you to hold multiple currencies in your account and their online and phone banking service is available in English.

What to Expect from a Lithuanian Bank Account

In Lithuania you have your pick of a variety of banks including national and international options. Lithuanian banks charge activation fees and deposits are protected up to 100,000 euro. Some Lithuanian banks offer standard traditional banking services while others specialize in a particular area or in customers from a particular industry like retail, investments or large corporations. Some Lithuanian banks specialize in offering their services to non-resident customers and they make their services available in English.

Non-residents opening a bank account in Lithuania will find the process complex. Recent new banking policies require non-residents to produce reliable verification of identity and authorized capital. You will need to provide a number of documents including various forms of identification. Each Lithuanian bank has its own requirements for opening a new account as a non-resident.

Online Lithuanian Business Bank Accounts

When opening a Lithuanian business bank account new customers must provide information about their business activities; suppliers; customers; partners; investments; capital etc. It will take the bank 1-7 days to reach a decision about whether to open your business account or not. Some Lithuanian banks (especially the larger banks) have a tendency not to opening business accounts for foreign businesses or individuals.