Companies
According to the Register Center, there are 20 forms of entities, which are registered in the Register Center. An application for registration shall be reviewed during 3 working days. All documents must be presented in Lithuanian.
There are 2 the most common types of enterprises in Lithuania:
1) Public Limited Liability Company (AB) - minimum share capital is 150.000 LTL or 43.443 EUR. Its shares may be offered for sale and traded in publicly in compliance with the legal acts regulating securities market.
2) Private Limited Liability Company (UAB) - Shares of the private limited liability company may not be offered for sale and traded in publicly, minimum share capital is 10.000 LTL or about 2.900 EUR.
Other types:

state enterprise;
municipal enterprise;
agricultural company;
co-operative company;
general partnership,
limited partnership,
individual enterprise,
public institution,
branch or representative office of foreign company (they aren't the legal persons, the foreign company is liable for all obligations of the branch or the representative office).
other.

Registers

Companies' register is Register Centre. Companies search: http://www.registrucentras.lt/jar/p/

Tax payers' register. Tax payers search: http://www.vmi.lt/lt/?itemId=107814

There are 4 cases when a legal entity must be mandatory registered as a VAT payer in Lithuania:

A taxable person of Lithuania, where the total amount of the consideration for goods and/or services supplied in the course of his economic activities during a year (in the last twelve months) exceeded LTL 100000.
The company purchased goods from other EU countries and the value of goods during a year (in the last twelve months) exceeded 35000 LTL.
Foreign company should be registered as a VAT payer in Lithuania from the first day of its activities in Lithuania.
Foreign company must be registered as a VAT payer in Lithuania if it brought goods to Lithuania and the value of these goods during a year (in the last twelve months) exceeded 125000 LTL.

Taxes

Tax audits - can be performed going back 5 years.

	Rates, costs	Short explanations
VAT	The standard rate is 21%, the reduced rates 9% and 5% (in some cases)	The taxable period is one calendar month.
Corporate income tax	The standard rate -15%. For micro companies - 5% (average number of pay-roll workers less than 10 persons, income of taxable period does not exceed 500 thousand LTL.).	Taxable profit = Income received during the tax period - Not taxable income - Allowed deduction (including limited size deduction)
Dividend tax	15%	for legal persons (unless the participation exemption applies)
Dividend tax	20%	for private persons
Personal income tax	15%
Social security contributions	3%	pension insurance - employee's contribution
	6%	health insurance - employee's contribution
	between 30,98% -31,7%	employer's contribution (depending on the risk group)
Real property tax	from 0,3 % to 1 %	depends on the municipality
Main excise taxes		Tax object: ethyl alcohol and alcohol drinks, manufactured tobacco, energy drinks, fuel, electricity

Audit obligation
Annual financial reports must be audited if at least two indicators on the last day of the financial year exceed the following values:

1) net turnover during the reporting financial year - LTL 12 million (EUR 3.5 million);

2) the total value of assets specified in the balance sheet - LTL 6 million (EUR 1.7 million);

3) average annual number of pay-roll workers during the reporting financial year - 50 persons

Important links:

State Tax office