In Lithuania, the following are very acceptable forms of incorporation:
A private company (with the suffix UAB) or a public company of this sort (with the suffix AB) may be formed.
One or more shareholders are required in order to found the company. The maximum number of shareholders in a private company must not exceed 100. There is no restriction on the number of shareholders in a public company.
The minimum registered capital in a private company is Litas 10,000 (approximately Euro 2,896). The minimum registered capital in a public company is Litas 150,000 (Euro 43,443).
Part of the registered capital must be paid in cash and cash equivalent according to the requirements of the law.
The shareholders' undertaking is limited to the amount of the capital invested only.
The management bodies of the company are determined by the general shareholders meeting.
A public company must appoint a supervisory council or "board of management."
An agricultural company (with the suffix ZUB)
This is a company in which at least 50% of its income is derived from agricultural activities.
The company's liability is limited to the amount of the company's capital.
