Lithuania is the most advanced and promising Baltic country, where doing business is quite reliable and secure. The most common types of registered companies in the Republic of Lithuania are: private limited liability company, public limited liability company and Individual enterprise (sole proprietorship). Business in Lithuania is regulated by the laws: Civil Code, Joint Stock Companies Act, law on Public Institutions and other legal documents.
The main types oflegal entities in Lithuania (2013)
|
Type of legal entity |
Minimum authorized (share) capital |
Minimum number of shareholders (incorporators) |
Liability |
|
Private limited liability company (Uzdaroji Akcine Bendrove) |
10 thousand Lt. (2900 Euro) |
1 person |
limited liability of shareholders |
|
Public limited liability company (Joint-stock company) – (Akcine Bendrove – АB) |
150 thousand Lt (43 450 Euro) |
1 person |
limited liability of shareholders |
|
Individual enterprise – (sole prorietorship) -(individuali įmonė – IĮ) |
Not established |
single individual |
subsidiary liability (company and the founder) |
|
General partnership (TŪB) |
– |
2-20 people |
unlimited liability |
|
Limited partnership (KŪB) |
– |
3-20 people |
unlimited liability |
|
Agricultural company (ŽŪB) |
– |
2 people |
limited liability |
|
Co-operative enterprise (KB) |
Not established |
5 people |
limited liability |
|
Non-Governmental Organization (VšĮ) |
Not established |
– |
– |