The Centre of Registers of Lithuania was established in 1997 and functions as an institution of administration for the three main registers in Lithuania: the Register of Legal Entities, Real Property Register and Cadastre, and the Address Register. It is governed by the Ministry of Justice of the Republic of Lithuania.
The Register of Legal Entities contains detailed and historical information regarding all the companies, partnerships, branches in Lithuania. Also, the companies must deposit annual financial statements since 2004. A list of the shareholders of any company must be registered since 2010.
The electronic registration process is available from 2010; this service is available with the help of the PKI (Public Key Infrastructure).
The Central Registry in Lithuania falls under the Act of State Registers which provides for the operation and maintenance of all authorities dealing with requests from the population. This law was enabled in 2004 and ever since it has simplified the inquiry and company registration and reporting procedures.
Our company formation agents in Lithuania can offer more information on the Trade Register.
Various forms of business must be registered in the Register of Legal Entities: sole proprietorship (PĮ), public limited liability company (AB), private limited liability company (UAB), general partnership (TUB), limited partnership (KUB), state enterprise, municipal enterprise, non-profit organization (VŠĮ), agricultural company, co-operative enterprise.
The first contact a new company has with the Register is when the desired name for it is checked here operation that can be performed online. If the name is available a reservation is made on it.
After that, the Articles of Association must be notarized and registered at the Register of Legal Entities. The Articles of Association of a company becomes invalid if they are not submitted to the Register within 6 months after signing it.
Also, any change that might interfere must be reported immediately (for example, the Article of Association amendments).
Other information that has to be reported is: the name of the Supervisory Board and Board Chairman (also the election and expiration date of their management period), information regarding the shareholder (if there is only one), information regarding the date of beginning and ending the financial year of the enterprise, details regarding the liquidator, the term the company will cease its activity (if it is a temporary one) and the website.
Our local advisors can assist foreign investors with the company registration procedure in Lithuania.
If a tax is paid, information regarding the list of shareholders, the companies’ documents (such as the Memorandum of Association), annual financial reports and all related companies documents are available for the public. The information is provided by filling an electronical form.
The Lithuanian Centre of Registers can be interrogated by anyone based on a fee. However, it is advisable to request specialized services when interested in company due diligence procedures, as the Trade Register does not keep all the information on a company. For example, the financial documents of a company are stored with the tax authorities in Lithuania.
Our Lithuanian company formation consultants offer company due diligence procedures.
The Centre of Registers in Lithuania is linked to the European Business Register, which is the central registrar of companies in the European Union. Foreign investors who want to open a company in Lithuania or enter into a partnership with a Lithuanian company can also make inquiries with the European Business Register if they cannot access the local Trade Register.
For full information on the Companies Register and company formation services in Lithuania, please contact us.