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Lithuania - DOING BUSINESS


Local business incentives


Companies can contact the Ministry of Finance and the Vilnius Department of Industry and Trade to get information on setting up procedures in Lithuania. Investors can also contact the Development Agency of Lithuania.


Legal forms of companies


Form Number of partners/shareholders Minimum and/or maximum capital Liability Registration fee Release of financial documents
Personalin? Imon? or PI is a sole proprietorship   Maximum 1 shareholder.   No minimum capital.   Liability is unlimited.   LTL 200    
THE UAB (Uzdaroji ackin? bendrov? is a close joint-stock company   1 to 50 shareholders   LTL 10,000. 25% of the capital must be released at the constitution.   Liability is unlimited.   LTL 500    
THE AB (Akcin? bendrov?) is an open joint-stock company.   Minimum 5 shareholders.   LTL 10,000. 25% of the capital must be released at the constitution.   Liability is unlimited.   LTL 500    
TUB ( TIKROJI UKIN? BENDRIJA) is a general partnership.   Minimum 2 shareholders.
Maximum 20 shareholders.
  		No minimum capital.   Liability is unlimited for 1 partner and limited for the others.   LTL 400    
The KUB (Kommanditin? Ukin? bendrija) is a limited partnership.   Minimum 2 shareholders.
Maximum 20 shareholders.
  		No minimum capital.   Liability is unlimited for 1 partner and limited for the others   LTL 400    


Registration and licensing procedures


Considering the size and particularity of each Baltic State, it is recommended to have an agent in each State. Current regulations allow an expatriate to manage an agency; the local workforce is also well skilled. Formalities to set up an agency, a Public Limited Company or a Private Limited Company are rather simple and fast. The Register of companies must be contacted.



Foreign exchange control


Free transfer of foreign currencies is carried out free and currency exchanges are controlled by the Treasury and the Central Bank. Transfers of dividends are legal. Profits and dividends repatriation of non-residents companies are not taxable. Transfer of social shares is also tax-free.
On the exchange market, free conversion of the litas is carried out.


Regulations concerning equity investment


A majority holding interest in the capital of a local company is legal in Lithuania.  


FDI inflows in Lithuania




FDI inflows (millions US$) 2000 2001 2002 World rank
Foreign Direct Investments (F.D.I.) 732   179   773   70 / 196
Sources : UNCTAD Database FDI/TNC


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Last modified in December 2003
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