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flag Lithuania Lithuania: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

Sole proprietorship (PI)
Number of partners: Maximum 1 shareholder.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is unlimited.
Private limited liability company (UAB)
Number of partners: 1 to 249 shareholders
Capital (max/min): Minimum capital of EUR 2,900.
Shareholders and liability: Liability is limited to the capital contributed.
Public limited liability company (AB)
Number of partners: Minimum 1 shareholder, with no maximum.
Capital (max/min): Minimum capital of EUR 43,450.
Shareholders and liability: Liability is limited to the amount contributed.
General partnership (TUB).
Number of partners: Minimum 2 shareholders.
Maximum 20 shareholders.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is unlimited for all the partners.
Limited partnership (KUB).
Number of partners: Minimum 2 shareholders.
Maximum 20 shareholders.
Capital (max/min): No minimum capital.
Shareholders and liability: 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
 
Setting Up a Company Lithuania Eastern Europe & Central Asia
Procedures (number) 7.0 6.0
Time (days) 20.0 14.0

Source: Doing Business.

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

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The Active Population in Figures

201120122013
Labor force 1,620,0001,587,0001,452,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -55.70%58.60%
Men activity rate 62.10%63.40%63.90%
Women activity rate 50.20%53.90%54.10%

Source: UN - United Nations

 

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Working Conditions

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 Labor 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 cannot exceed 5 years.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

Minimum Wage
LTL 231 per month (source: ILO, 2011).
Average Wage
Gross average monthly wage of men: LTL 2,151 (source: ILO, 2010);
Gross average monthly wage of women: LTL 1,844 (source: ILO, 2010).
Social contributions
Social Security Contributions Paid By Employers: 31%.
Social Security Contributions Paid By Employees: 3%.

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Social Partners

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 Labor Federation - LDF), plus some independent trade unions.
Unions
Lithuanian Trade Union Confederation
Lithuanian Labor 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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Last Updates: January 2015