Lithuania: Operating a Business

Setting Up a Company

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
Sole proprietorship (PI) No minimum capital.	Maximum 1 shareholder. Liability is unlimited.
Private limited liability company (UAB) EUR 2,900	1 to 249 shareholders Liability is limited.
Public limited liability company (AB) EUR 43,450	Minimum 1 shareholder, no maximum. Liability is limited.
General partnership (TUB). No minimum capital.	Minimum 2 shareholders. Maximum 20 shareholders. Liability is unlimited for all the partners.
Limited partnership (KUB). No minimum capital.	Minimum 2 shareholders. Maximum 20 shareholders. Liability is unlimited for 1 partner and limited for the others

The Competent Organization: The Company Register of Lithuania is the relevant organization to be contacted for formalities in setting up a business.
Search a Company or a Financial Report: European Business Register

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Lithuania.
Trade Register, in Lithuanian.

	2010
Labor Force	1,633,000

Source: CIA - The world factbook

Source: UN - United Nations

Legal Weekly Duration: 40 hours per week ; the daily number of hours should not exceed 8.
Retirement Age: 60 for women and 62,5 for men.
Working Contracts: The Lithuanian Labour Code provides for several types of contracts: employment contract concluded for an indefinite period of time ; fixed-term, temporary and seasonal contract, ; employment contract for additional work and secondary work ; employment contract with home-workers ; employment contract on the supply of services.
A fixed term contract can not exceed 5 years.

Minimum Wage: The general minimum monthly wage is 231 EUR.
Average Wage: Average monthly gross earnings in Lithuania is LTL 2,240 (EUR 650).
Social contributions: Social Security Contributions Paid By Employers: 31%.
Social Security Contributions Paid By Employees: 3%.

Social Dialogue and Involvement of Social Partners: The Trade Union members may not be less than one-fifth of all the employees in a company.
There are 3 main trade unions in Lithuania: the LPSK (Lithuanian Trade Union Confederation - LPSK), the Solidarumas and the LDF (Lithuanian Labour Federation - LDF), plus some independent trade unions.
Unions: Lithuanian Trade Union Confederation
Lithuanian Labour Federation
Unionization Rate: About 14% of the active population. However, as Lithuanian legislation does not provide for obligatory registration of trade union membership, the exact number of employees represented is only an estimated figure.
Labor Regulation Bodies: Ministry of Social Security and Labor Protection

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