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Private limited liability company (UAB)

• Natural and legal persons of any state;
• There can be from 1 to 250 shareholders in the company.

• At least LTL 10 000 (EUR 2 897);
• At least LTL 10 000 (EUR 2 897) must be paid in money's worth, the remaining part may be paid by other assets.

• Only natural person of any citizenship can be a Manager;
• The employment contract shall be concluded with the Manager. The work permit is not necessary for the Manager.

• General Shareholders‘ Meeting and the Manager; or
• General Shareholders‘ Meeting, the Board and the Manager; or
• General Shareholders‘ Meeting, the Supervisory Board, the Board and the Manager.

• The company’s name shall be in conformity with the rules of Lithuanian language. In practice, the name in foreign language is possible;
• The company’s name may not be identical to the name of other legal entity or trademark.

• Once a year. General Shareholders‘ Meeting shall appropriate profit (loss) within 4 months from the end of the financial year;
• Every shareholder has the right to receive a part of the profit (dividend) in proportion to the nominal value of shares owned by him. Payment of dividends in advance shall be prohibited.

• It is possible to sell, to gift, as well as to exchange the shares;
• When selling company’s shares, share purchase and sale agreement is concluded. Notarization is not necessary for such agreement;
• Share transfer income is subject to taxes.

• The liquidation procedure takes approximately 4-6 months;
• The essential condition – to make settlement with creditors.