It happens that for already operating business is necessary to make changes in the articles of association or other official regulations. All main objectives: what is the goal of the company, what kind of business company is doing, how the organization is managed and other regulations are written in the articles of association, and in most management changes usually articles of association has to be changed accordingly. In such case, we have to prepare a new revision of current articles of association and get them approved by the notary office, after that the new approved document revision has to be registered at the legal entity register center. If you wish to make any changes to company documents, please contact us and our experts operatively will prepare necessary documents according to customer requirements.

Documents required to make changes to the articles of association:

1. The new revision of the articles of association, signed by the general meeting members of the legal entity;
2. General meeting protocol, signed by the legal entity members;
3. If the management of the company is changing, in the general meeting protocol has to be described what is changing and how it will work;
4. Existing company documents: a certificate of registration or an extract from the legal entity register center, the old articles of association, establishment protocol of the company. There may also be required any additional documents, depending on what exactly will be changed in the articles of association.

We provide following services:

• Preparation of draft documents necessary to make changes in the articles of association or any other regulations;
• Dealing with notary office, legal entity register center on behalf of the client;
• After approving new revisions at the notary office it usually takes three business days to register them at the legal entity register center.

Join stock company’s (UAB) share capital can be increased in several ways:

1. The additional contributions of shareholders by issuing additional shares;
2. Increasing share capital from company’s retained earnings by issuing additional shares to current share holders free of charge or by increasing the nominal value of previously issued shares.

Required documents:

• Company’s registration certificate or an extract from the legal entity register center;
• Company’s articles of association;
• If the authorized capital will be increased by additional monetary contributions – requires a document certifying that the newly issued shares are paid in cash contributions;
• If the authorized capital is increased by non-cash contributions (assets) – property valuation report is required;
• If the authorized capital is increased from company funds – company’s financial statements are necessary.

Services we provide:

• Consulting about the share capital increase or reduction issues;
• We prepare all necessary documents for the share capital increase or reduction;
• Represent clients throughout the procedure at the legal entity register center and Notary office.

After the law change in 2015, all individuals and legal entities must approve their share transfer agreements at the notary office if they meet at least one of the following indications:

1. More than 25% of total shares are being transferred;
2. Transferable share price exceeds 14’500, – EUR.

Services we provide:

• Advising about the transfer of shares, taxation issues;
• Preparing necessary documents for shares transfer;
• Representing clients during transactions, notary office and other institutions;
• We perform audit on all legal transactions.

Changing the name of the closed joint-stock company (UAB), the process is very similar to the change of articles of association, because while changing the company name there is a must to renew the articles of association with a new company name. In this case, changing the company name in articles of association may not be enough, it often happens that some extra minor points have to be added or changed in the articles of association accordingly to the current legal law.

Services we provide:

• New company name reservation;
• Preparation of necessary documents and reports for company name change;
• Client representation in notary office and legal entity register center.

Any legal person registered in the Republic of Lithuania must have a physical registration address. Registration address is the registered office, which must be indicated to the legal entity register. To establish a new company or change current address to the new one, company must have a permission from the landlord of premises that he agrees to register your company office in the premises.

Services we provide:

• We provide registration address for legal entities in Vilnius;
• Document preparation to change registration address;
• Representing clients throughout the process.

The reorganization is one of the possible ending of legal entity, however, after the reorganization process the legal entity is not completely liquidated. This process transforms the business model, increases efficiency, reduce running costs. Typically, the company is reorganized when you need to cut down several different companies administration costs, simplify overall management.

Legal persons may be reorganized by way of merging:

• Merging one company with another. This is one of the legal entity connection to another already existing legal entity, which will take over all of the reorganized company’s duties and rights;
• Merging several companies. This is two or more legal entities merged into a whole new legal entity, which will take over all of the reorganized business rights and obligations.

Legal persons may be reorganized by way of division:

• Distribution. Reorganized company’s rights and obligations are distributed to other already operating legal entities;
• Splitting. Reorganized legal entity is divided into two or more separately operating new legal entities, which takes rights and obligations.

Services we provide:

• Document preparation for reorganization;
• Representing and consulting clients throughout the process.

Legal entity liquidation
Legal entity liquidation is one of the ways to end up company’s activities deregistering it from the legal entity register center. The liquidation process can be initiated in two ways: voluntary liquidation – company’s shareholders decides to voluntarily liquidate the company and appoints a liquidator for further implementation of the procedure. Forced liquidation of the company – when the company becomes insolvent.

if you are a non European Union member country citizen, then you might need to obtain a visa or a residence permit in Lithuania. If you do not require to stay in Lithuania permanently there is no reason to apply for a residence permit, it would be enough to apply for a multiple entry Schengen visa. Maintaining a residence permit in Lithuania might be little bit expensive, because your owned company will have to meet several business immigration requirements by Lithuanias migration department.

Some of the requirements:

• Company has to be active not less than six months before applying for a residence permit;
• In the company has to work at least three Lithuanian citizens for a full day;
• The share capital of the company has to be not less than 28’000,- EUR;
• Applicant has to own at leas 1/3 of the share capital.

Applying for a residence permit in Lithuania
As you see it is possible to apply total three investors under one company. It means that three persons can form a joint stock company (UAB) and apply for a residence permit in Lithuania under same conditions. Our specialists can setup a company for you which would meet immigration requirements or we can join you with other investors applying for a residence permit. For the first time you will be issued a permit for one year and next time you will be issued a permit for two years. Lithuanis is still the easiest place to apply for a residence permit in Europe. With a residence permit in Lithuania you will be eligible to travel through all other Schegen zone member countries visa free.