May 28 2020

Version abbreviationEVRK 2 red. Valid from, Valid until, Download classification PDF XLS XML. Version abbreviationEVRK red. The classification used is: NACE 2 red. Classification of Economic Activities of the European Community. EVRK 2 red. Ekonominės veiklos rūšių klasifikatorius. EVRK, in press: Ekonominės veiklos rūšių klasifikatorius (EVRK), 2 redakcija. Retrieved from: /klasifik /EVRK/

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Small partnership is a limited liability private legal entity. The most important decisions, including the formation of the executive body, shareholders adopt by voting, and the number of votes directly depends on the shares held. Ecrk aforementioned law ensures implementation of European Council Regulation No. Incorporation and operating basis of a partnership is its joint venture agreement.

Its members contribute funds to form its capital, share risks and benefits according to the goods and services turnover in the company, and actively participate in the management of the KB. The incorporation agreements with other documents evrrk be submitted to the State Enterprise Centre of Registers, which manages the Register of Legal Persons. AB authorized capital shall not be less than 40 thousand EUR.

Two companies or other legal entities, which have their central administrations in different EU member states, or two natural persons who have their principal activities in different EU member states, or a company or other legal entity, the central administration in one EU member state and the person who has his principal activity in another EU member state. KB evvrk a limited liability legal person. It must provide for: The Articles of Association is the document by which the KB is guided in its activities.


Company is an enterprise, whose authorized capital is divided into shares called stock. After the constituent assembly the company shall be registered in the Register of Legal Persons. For a business related to higher economical risk, it is better to establish a limited liability legal entity- a public limited liability company AB or a private limited liability company UABi. Joint venture agreement must be certified by a notary. Small partnership may conduct any legal activity.

EEIG incorporation agreement must contain: Constituent assembly approves the evrl company statutory report, elects audit company, elects members of management bodies, solves other general meeting issues. The official address must be in the EU.


Therefore, Ecrk is not allowed: SE may be formed in one of four possible ways: Before registration of such a legal type of a company, one must evaluate all pros and cons. KB has a right to:.

Therefore, EEIG is not allowed:. A partnership may include from 2 to 20 partners.

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As founders of company natural and legal persons may act, both from the Republic of Lithuania, and abroad. SE keeps accounting of one company, so you can reduce administration costs, legal expenses, which are resulted in due to differences rvrk the legal environment.

The EEIG does not pay income tax, and its performance taxation is transferred to the participants. Partnerships in Lithuania may be of two legal forms types: KB shall consist of minimum 5 members and has a name. EEIG members have unlimited joint and several liability for its debts and other obligations. A shareholder of such company risks only by his evrl in the company, if the business fails.


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Enterprises of all forms are divided into limited and unlimited liability companies. Law on Eevrk of the Republic of Lithuania sets procedures of management, operation, reorganization and liquidation of associations.

However, the office may be transferred to another EU member state.

As AB has a right to distribute its shares publicly, it has a right to use various information channels and sell its shares to any natural or legal person. Benefits of a partnership are as follows: The authorized capital is divided into shares.

Each KB founder must become a member. In private limited liability companies audit shall be carried out, if if they satisfy at least two of the following:. As for the number of members of the EEIG must consist of at least: UAB authorized capital shall be minimum 2. Incorporation documents of KB are the Articles of Association and the incorporation agreement. That means, partners are not liable for obligations of the small partnership personally. Small Partnership Small partnership is a limited liability private legal entity.