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Vilnius, Republic of Lithuania Attorneys in related practice areas.
Corporate & commercial law in Vilnius, the capital city of Lithuania, is governed by both national legislation and European Union regulations. The field covers various legal matters involving businesses, such as the creation of companies, business operations, mergers and acquisitions, contracts, compliance, and the resolution of disputes. Vilnius, as the business hub of Lithuania, hosts a thriving corporate sector, both for local enterprises and foreign investors. As a result, the city attracts a significant number of legal professionals specializing in corporate and commercial matters.
Working with a knowledgeable lawyer can be essential in many situations related to corporate and commercial law. Common circumstances where legal help is beneficial include:
Lithuanian corporate and commercial law is primarily based on several key legal instruments:
Lithuania is a member of the European Union, meaning that EU directives, competition regulations, and data protection standards (such as the General Data Protection Regulation, GDPR) also apply to businesses in Vilnius. The legal environment is investor-friendly and aims to support both startups and established corporations.
To incorporate a company in Vilnius, you typically need to decide on the company structure (most commonly a private limited liability company, UAB), prepare registration documents, register with the Center of Registers, provide minimum share capital (for a UAB, this is currently 2,500 EUR), and fulfill tax and social security registration requirements.
Key documents include founding documents (articles of association), a resolution or act of establishment, evidence of share capital payment, consent of the company address, and information on shareholders and directors.
Yes, both EU and non-EU nationals can establish and fully own Lithuanian companies. Residency in Lithuania is not required for shareholders, although certain management positions may require local representation.
Commercial disputes can be resolved through negotiation, mediation, litigation in Lithuanian courts, or arbitration. Many commercial contracts include arbitration clauses, and Vilnius hosts a recognized arbitration institution.
Companies in Lithuania must register for corporate tax, VAT (if turnover exceeds a certain threshold), and social security contributions for employees. Corporate income tax is generally 15 percent, with special provisions for small businesses.
M&A transactions typically involve due diligence, negotiation of terms, drafting of contracts, regulatory notifications (if relevant), and formal registration of changes. Competition Council approval is required if thresholds are reached.
Lithuanian law provides certain protections to minority shareholders, such as the right to information, the right to contest decisions, and the right to request a buyout in specific cases, such as changes in company control.
Lithuanian employment law is balanced, providing protections and obligations for both employers and employees, covering contracts, dismissals, working conditions, and dispute resolution.
Yes, electronic signatures are generally recognized as legally valid in Lithuania, particularly qualified electronic signatures, in accordance with both Lithuanian and EU regulations.
Data protection is strictly regulated under national law and the EU GDPR. Businesses must implement security measures, inform individuals about data processing, and may need to appoint a data protection officer.
Individuals and businesses seeking further information and support can consult the following institutions and organizations:
If you are considering setting up a business, entering into commercial agreements, or addressing another corporate legal issue in Vilnius, it is advisable to:
Seeking professional legal advice early in your corporate or commercial activity can help prevent costly mistakes, ensure compliance, and support your business success in Vilnius or across Lithuania.
