Types of legal entities in Lithuania

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)

-

people

limited liability

Co-operative enterprise (KB)

Not established

people

limited liability

Non-Governmental Organization (VšĮ)

Not established

-

-


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