How to set up an MB: step by step and where people most often get stuck

A small partnership (MB) is the most popular small business form in Lithuania. It can be set up within a few days, but in practice registration often stalls over details: an unsuitable name, incomplete articles, or a missing consent from the owner of the premises. Below is a plan that keeps the process running smoothly.

1. Choose a name

The name must be unique and meet Lithuanian language requirements. First check that it is not already taken at the Register of Legal Entities. If the name matters to you, you can reserve it in advance so that no one else takes it while you prepare the other documents.

2. Prepare the MB articles

The articles are the MB's main document. They set out the MB's activities, members' rights, management, how decisions are made and how profit is distributed. When registering online you can use standard articles, but it is worth checking whether they suit your situation – especially if the MB has several members.

3. Arrange a registered office

An MB must have a registered office address. If the company is registered in premises you don't own, you will need the owner's consent. This is the document most often forgotten, and it is why registration gets delayed.

4. Register the MB at the Register of Legal Entities

The most convenient way is to register the MB online through the Centre of Registers self-service portal. Once the company is registered, the data is automatically passed to VMI and the company receives its legal entity code.

5. Open a bank account

Banks ask for information about your planned activities, clients and cash flows. Answer in detail – a poorly described business is a common reason for delays in opening an account.

6. Arrange your accounting before the first invoice

The first invoice issued or received must already be recorded. Decide in advance who will keep the books, how documents will be passed on and how the MB members will receive payouts.

Where people most often get stuck

• the name is too similar to one already registered;
• there is no consent from the owner of the premises, or it is not properly formalised;
• the articles don't describe how decisions are made when there are several members;
• the company starts operating, but the books are only set up a few months later.

Advice from Ana Baranova, director of Patikima buhalterė: “The most common mistake is to set up an MB over the weekend and only think about an accountant when the first letter from VMI arrives. In the first weeks, agree on how documents are handled: where invoices are kept, how payments are labelled, and when you pay money to yourself. It saves a lot of time and nerves.”

We can handle everything for you

We help you set up an MB from the first decision to the start of operations: we prepare the articles, check the documents, register the company and set up the books straight away. All you have to do is your own work.

More about company formation · Contact Us · +370 635 87770

Information valid for 2026. Registration procedures and taxes may change, so consult a specialist before setting up a company.