Advantages of opening a bank account in Lithuania

1. Internet banking is available in Russian.

2. Multi-currency accounts.

3. Security and stability.

Bank of Lithuania

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

• Luminor Bank AB is the third largest bank in the Baltic States.

• Siauliu Bank – works with individual and corporate clients.

• Meridian Trade Bank is a universal Latvian bank with a wide range of services.

• Medicinos Bank is a medical bank and the first in the country to offer internet banking and mobile wallet services.

• Bigbank AS is an international bank operating in nine European countries: Lithuania, Latvia, Estonia, Austria, Germany, Spain, Finland, Sweden and the Netherlands.

• DnB NORD is part of the largest financial group DNB ASA (Norway), operating on the Danish, Finnish, Polish, Estonian, Latvian and Lithuanian markets.

How to open an account for non-residents

Not all Lithuanian banks are prepared to open accounts for non-residents. Usually good reasons are required to open an account:

• Doing business in the country,

• Studying at the University of Lithuania,

• Working in the country,

• Obtain a residence permit.

The banks that are most tolerant towards foreign citizens are: Meridian Trade Bank, Medicinos Bank, Siauliu Bank.

Required files

• ID card

• Valid visa, residence permit or permanent residency

• Fill out the complete questionnaire and explain the purpose of opening the account

Different banks may require additional documentation.

• Until now, the issue of opening an account within the EU for any company in the EU was quite complicated. There is no need to talk about the importance of having a corporate bank account, every businessman knows it. Now, Lithuania offers businesses a unique opportunity to open a coveted bank account without any problems.

• Lithuanian banks allow residents and non-residents to open accounts;

• The bank can be chosen according to the business objectives (the country has both small local banks and the largest Scandinavian banking groups);

• Possibility of opening bank accounts for citizens of Ukraine, Russia, Belarus and other CIS countries;

• Russian is widely used (internet banking, bank staff);

• Provide multi-currency accounts;

• The state guarantees deposits in a bank up to €100,000;

• There are no currency controls in the country, and funds can be accessed and transferred at all times.

Internet banking can be used to order government services, banking services, or other commercial services for your business without being physically present.

Account opening procedures

For legal entities:

In Lithuania, it is becoming increasingly difficult to open accounts for companies with non-Lithuanian residents as shareholders and/or directors, but it is still possible.

Each bank has its peculiarities. Most banks require an irrevocable advance fee that must be paid when submitting the documents, while some banks require extensive documents in addition to all the documents proving the company's connection with Lithuania.

The average time for document review can range from a few days to a few months, depending on which bank reviews the documents and the business of the company. It is also possible to open a bank account in Lithuania within a day, which sounds like a dreamy idea in many European countries.

In any case, the directors of the company must be present in person at the bank when opening a bank account.

For individuals:

In general, the rules for opening a bank account for non-residents in Lithuania are not different from the procedure for opening a company account. You must go to the nearest service and show your passport with a valid Schengen visa. You will also need to confirm that you need a bank account and sometimes a connection with Lithuania. Otherwise, the account will not be opened for you.

We select for our clients (individuals and their companies) the banks that best suit their requirements and needs, based on their nationality, connections to Lithuania and specific needs. If you contact a bank that does not match yours and does not work with clients like you, you will lose time and will not refund the document review fee in case of rejection of bank account opening.

If you are looking to open a business bank account in Lithuania, our team at   will be happy to assist you. We have eight years of experience in helping clients open bank accounts in Europe. We leverage our extensive network of partners in the European financial services industry to provide the businesses we serve with the most appropriate and cost-effective solutions to improve their operations.

Business bank account in Lithuania

Opening a business account in Lithuania is an important step for entrepreneurs who wish to realize their business plans in this Baltic country. As a member of the European Union, Lithuania offers great opportunities for international business with its business-friendly environment, transparent legislative environment and modern financial infrastructure. In this article, we will look at the key aspects and procedures for opening a business account in Lithuania.

Advantages of opening a business account in Lithuania

1. Favourable business environment: Lithuania is known for its open and business-friendly environment. The country offers many investment opportunities and supports entrepreneurship.

2. Simple company registration: The procedure for registering a business in Lithuania is relatively simple and efficient, which simplifies the process of starting a business.

3. Modern Banking Services: Lithuanian banks offer modern services to businesses, including online banking, international payments, and loans for a variety of needs.

4. European Jurisdiction: As Lithuania is a member of the European Union, businesses in Lithuania benefit from the European legal system and market.

How to open a business account in Lithuania

1. Choose a bank: The first step is to choose the right bank to open a business account. Research the offers of each bank, considering their terms of service, fees, access to online banking, and other factors.

2. Prepare documents: Prepare the documents required for account opening. This may include the account holder's ID card, company registration certificate, director appointment documents, and other documents required by specific banks.

3. Bank Visit: Arrange a visit to the selected bank to open an account. Provide all required documents and fill in the account opening form.

4. Application Consideration: Once you have submitted all your documents, the bank will consider your account application. This process may take several days.

5. Account Activation: Once your application is approved and all necessary procedures are completed, your business account will be activated and you will be able to use banking services.

in conclusion

Opening a business account in Lithuania is a key step in successfully doing business in the country. Lithuania attracts entrepreneurs from all over the world due to its favorable business environment, modern banking infrastructure and European jurisdiction. You should prepare carefully for the account opening process, make sure you meet all necessary requirements and choose a bank that suits your needs.

 Personal bank accounts in Lithuania

Opening a personal bank account in Lithuania is the first and important step to effectively manage personal finances in this Baltic country. Lithuania offers a wide range of banking services and a high level of service, making the account opening process simple and convenient for locals and foreign residents. In this article, we will look at the key aspects and procedures for opening a personal bank account in Lithuania.

Advantages of opening a personal bank account in Lithuania

1. Safe and Reliable Custody: Lithuanian banks are known for their reliability and stability, safely keeping funds and protecting the interests of customers.

2. Various Banking Options: Lithuania offers a wide range of banking products and services, including different types of accounts, credit and debit cards, savings plans, and investment opportunities.

3. Ease of use: Many Lithuanian banks offer modern online platforms and mobile apps, providing convenience and accessibility for account management anytime, anywhere.

4. European Jurisdiction: Because Lithuania is a member of the European Union, Lithuanian bank accounts benefit from European jurisdiction and consumer protection.

How to open a personal bank account in Lithuania

1. Choosing a bank: The first step is to choose the right bank to open a personal account. Study the offers of different banks and evaluate their terms of service, fees, availability of internet banking, and other parameters.

2. Prepare documents: Prepare the documents required for account opening, including proof of identity (passport or other document), proof of residential address, and other documents that may be required by the bank of your choice. </li >

3. Bank visit: Arrange a visit to the selected bank. Provide all necessary documents and fill in the account opening form.

4. Application review: The bank will review your account application and verify the documents provided. This process may take several business days.

5. Account Activation: Once your application is approved, your personal bank account will be activated and you will be able to use banking services.

in conclusion

Opening a personal bank account in Lithuania is an important step towards financial stability and convenience in managing your personal finances. With its favorable banking environment, modern infrastructure and European jurisdiction, Lithuania offers excellent opportunities to open an account and receive quality banking services. When choosing a bank, you should pay attention to its reputation, terms of service and technological sophistication to ensure maximum convenience and reliability when managing your personal finances.