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Private limited liability company

Private limited liability company - a company whose capital is divided into parts called shares. It is a limited liability private legal person. Private limited liability company‘s authorized capital shall not be less than EUR 2500. There must be less than 250 shareholders. Private limited liability company’s shares can not be distributed and traded publicly, if the law provides otherwise. The company may be both natural persons and legal persons. Each of the company’s founders must buy shares in the company and become its shareholder.

Main establishment and operating principles

  • Shareholder (founder) may be of any state individual and legal person
  • Shareholders from 1 up to 250
  • The minimum share capital EUR 2500
  • Manager can be of any nationality natural person
  • With manager signing labor contract. For manager labor permission are not necessary
  • The name of Private limited liability company must be awarded in accordance with the rules of the Lithuanian language. There are possibility to company give English name
  • The name of Private limited liability company can not be the same as any other legal entity’s name or trade mark
  • The shareholders of Private limited liability company have the right to share in profits (dividends) in proportion to the nominal value of the shares held. Pay dividends in advance is prohibited
  • The shares of Private limited liability company akcijas could be sold, donated, exchanged
  • The liquidation procedure takes 4-6 months

Management bodies

The general shareholders’ meeting, the board, the board and the manager. The most commonly chosen management structure: the general meeting of shareholders and the manager

Legal regulations

Companies establishing and operating principles regulated by the Civil Code (Second Book) and the Company Law

Necessary documents

  • Name of the future company (or several name options). We can provide name options for an additional charge
  • Copies of passports and the places of residence (i. e. addresses, where the persons actually live) of the incorporators (shareholders)
  • Copy of the passport and the place of residence (i. e. the address, where the person actually lives) of the manager (director)
  • Address of the company’s registered office (if not provided by us):
    • If the owner (co-owners) of the premises is a natural person, he/they must sign an agreement on provision of premises at the notary public, while having a document, evidencing the rights of ownership and stating the unique number of the premises
    • If the owner is a legal entity, an agreement on provision of premises shall be signed and sealed on the official letter form of the legal entity by the manager of the entity, stating the unique number of the premises
    • If the premises are mortgaged – consent from the bank, to which the premises are mortgaged, is necessary