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Legal Forms of Companies

Personaliné imoné or PI (Sole proprietorship)

Number of partners: Maximum 1 shareholder.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is unlimited.

Uzdaroji ackiné bendrové or U.A.B. (Private limited liability company)

Number of partners: 1 to 250 shareholders
Capital (max/min): Minimum capital of LTL 10,000.
Shareholders and liability: Liability is limited to the capital contributed.

Akciné bendrové or AB (Public limited liability company)

Number of partners: Minimum 1 shareholder, with no maximum.
Capital (max/min): Minimum capital of LTL 150,000 approximately, out of which 25% must be deposited upon incorporation.
Shareholders and liability: Liability is limited to the amount contributed.

Tikroji ukiné bendrija or TUB (General partnership)

Number of partners: Minimum 2 shareholders.
Maximum 20 shareholders.
Capital (max/min): No minimum capital required.
Shareholders and liability: Liability is unlimited for all the partners.

Kommanditiné ukiné bendrija or KUB (Limited partnership)

Number of partners: Minimum 2 shareholders.
Maximum 20 shareholders.
Capital (max/min): No minimum capital required.
Shareholders and liability: Liability is unlimited for active partners and limited for sleeping partners

The Competent Organisation

The Company Register of Lithuania is the relevant organisation to be contacted for formalities in setting up a business.

Company directories

European Business Register

Source: Doing Business, 2016