Selling on - Lithuania

Updated 10/2010

Legal requirements

The following are the main legal acts regulating the transfer of ownership of a business:

Articles 6.402-6.410 of the Civil Code
Law on Companies
Law on European Companies
Law on Cross-Border Mergers of Limited Liability Companies

Types of business transfer

Acquisition of another enterprise is the purchase of a company as a property complex, and is regulated by Articles 6.402-6.410 of the Civil Code.

A cross-border merger of companies can also be carried out.

Following the acquisition or sale of a business, i.e. of all of the shares of a company, the changes in data of the shareholder are to be registered in the Register of Legal Entities.

Centre of Registers

Taking over an existing company is a worthwhile alternative to setting up a new business.

Takeovers — Lithuania

Administrative procedures

The formalities required to transfer ownership of a business can be similar to those for setting up a new business.

Centre of Registers

Business transfer procedures

When the owner/shareholder of a legal entity changes, the data about the owner/shareholder of legal entities of different legal forms and data about the institution exercising the rights and duties of the owner/shareholder is registered and maintained in the Register of Legal Entities:

a public limited liability company, a private limited liability company and a European company - data about the company's shareholder if the company's shareholder is a single person, and data about the institution exercising the rights and duties of a company's shareholder if a shareholder is a state or a municipality. The list of shareholders is submitted to the Register.
The following request forms are to be submitted to the Register:
JAR-1 [588 KB]
JAR-AF [128 KB]
JAR-AJ [130 KB]
JAR-STP [121 KB]
an individual enterprise - data about the owner.
The following request forms are to be submitted to the Register:
JAR-1 [588 KB]
JAR-S [128 KB]
A state or municipal enterprise, a state or municipal budgetary enterprise - data about the owner and the institution exercising the rights and duties of the owner.
The following request forms are to be submitted to the Register:
JAR-1 [588 KB]
JAR-STP [121 KB]
If other data or documents also change, the changes are registered and maintained in the Register of Legal Entities by way of submission of documents and request forms as indicated in the Rules of the Register of Legal Entities:
Forms of the Register of Legal Entities