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Lithuania: Types Of Company

Private Limited Liability Company

The Private Limited Liability Company (Uzdaroji Akcine Bendrove – UAB) can have between one and 250 shareholders, whose liability is limited to the amount of their shareholdings. The minimum capital is LTL10,000 (EUR2,896), of which 25% must be paid up.

There is no requirement for a board of directors, or a supervisory council. Annual audits are required if turnover exceeds EUR1.4m.

Documents needing to be filed with the Registrar include:

  • An application to register;
  • The Certificate of Incorporation;
  • The Incorporation Agreement (Statutes);
  • Any licences that are required for the business to be undertaken;
  • Attestation to the payment of the registration fee;
  • Evidence of the opening of a bank account;
  • Minutes of the shareholders' founding meeting.

 

 

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