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Thursday, 18.04.2024, 16:54
Lithuanian businesses back idea of legalizing virtual registered office
"It's very good that such proposals come to light. They show that
Lithuania can be an advanced state," Paulius Vertelka, director
of the IT association Infobalt, told.
"Sometimes we have too little confidence to make advanced and bold
decisions, and now we have a very specific example showing that we can use
technologies for a real change in improving the business environment," he
said.
Making it possible to found a business without a physical mailbox
address will remove another bureaucratic obstacle to business
development, Vertelka said.
"The digital economy is changing reality (...). This is a great
proposal that I think we'll be able to be proud of and advertise ourselves in
the world," he said.
Ruta
Skyriene, executive director of the Investors'
Forum, an association of foreign investors in Lithuania, says that any
decision that improves business conditions is welcome.
"We always support innovative decisions, especially those that
improve the business environment. I believe that a virtual registered office
will be a not-too-distant future for all businesses," she told.
The Economy Ministry said on Tuesday that it is submitting a proposal to
allow registering a company in Lithuania without a physical registered
office address. Such a company would be able to handle all communication
with authorities and other businesses online.
If the move is approved, Lithuania will be among the first in the
world to legalize a virtual registered office, it said.
Lithuania's existing regulation on the registered office of a legal
person does not provide for such alternatives as a virtual office address.