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Acquisition of a vehicle

Acquisition of a vehicle

In Lithuania, any physical person or legal entity of Lithuania or a foreign state may acquire a car or another vehicle. Persons residing in Lithuania and enterprises, offices & organizations registered in Lithuania may acquire a vehicle registered in Lithuania.

An alien wishing to acquire a vehicle in Lithuania should have a Permit for Residence in Lithuania. A vehicle also may be acquired and registered in Lithuania in the name of a Lithuanian enterprise owned by a foreigner. The most frequent forms of legal entities in Lithuania are a sole proprietorship and a joint-stock company of limited liability; there are some other forms of legal entities as well.

If a legal entity of Lithuania wishes to acquire a vehicle, it may apply for financing to a leasing company of Lithuania. The term set for a loan for leasing a vehicle differs dependently on the price of the vehicle. Usually it lasts up to 6 years. The first contribution amounts to 10, 20 or 30 % of the total price of the vehicle. The rate of the annual interest usually amounts up to 10 %. The vehicle shall be insured and equipped with an alarm system. The expenses related to insurance and the alarm system shall be covered by the enterprise that acquires the vehicle.

In Lithuania, a car or another vehicle shall be registered at any branch of the state-owned enterprise „Regitra“, independently on the address of residence of its bearer or the address of the Registered Office of the legal entity. After the vehicle registration, the state-owned enterprise „Regitra“ issues the original vehicle registration documents and the vehicle plate number.