Starting a business in Lithuania

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, 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

Business Setup Procedures

Source: Doing Business - Latest available data.