The Civil Code of the Republic of Lithuania (Book Two)
The articles of association of the company are drawn up. If the founder of the company is a single person, the act of establishment of the company must be drawn up;
The founders may submit to the Register of Legal Entities an application (form JAR-5) for temporary inclusion of the name into the Register;
The articles of association of the company entitle to opening an accumulation account of the company in the bank;
An initial contribution for the subscribed shares is paid. Initial contributions may only be paid in cash. The amount of the initial contributions must be at least EUR 2500; each shareholder must pay at least 1/4 of the aggregate amount of the nominal value of the subscribed shares and the total share premium of the subscribed shares;
Prior to the signature of the articles of association of the company, the valuation of the contribution in kind intended for partial payment for shares must be made by an independent property valuer;
The constituent meeting is convened which must approve the founder’s report of the limited liability company and elect the members of bodies of the company elected by the general meeting of shareholders. If the supervisory board is elected, it must elect the board, if any, or the manager of the company if the board is not formed before registration of the company. The elected board must elect the manager of the company.
The statutes are drawn up and signed;
The company is deemed to have been established upon registration thereof with the Register of Legal Entities.
Before the application for registration of the private limited liability company is submitted to the Administrator of the Register, the civil law notary must verify the correctness of the particulars entered into the application, the compliance of the statutes with the statutory requirements and the fact that the private limited liability company is eligible for registration.
Documents to be submitted to the State Enterprise Centre of Registers:
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