Lithuania: Operating a Business

Setting Up a Company

Personaliné imoné or PI (Sole proprietorship): Number of partners: Maximum 1 shareholder.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is unlimited.
Uzdaroji ackiné bendrové or U.A.B. (Private limited liability company): Number of partners: 1 to 250 shareholders
Capital (max/min): Minimum capital of LTL 10,000.
Shareholders and liability: Liability is limited to the capital contributed.
Akciné bendrové or AB (Public limited liability company): Number of partners: Minimum 1 shareholder, with no maximum.
Capital (max/min): Minimum capital of LTL 150,000, out of which 25% must be deposited upon incorporation.
Shareholders and liability: Liability is limited to the amount contributed.
Tikroji ukiné bendrija or TUB (General partnership): Number of partners: Minimum 2 shareholders.
Maximum 20 shareholders.
Capital (max/min): No minimum capital required.
Shareholders and liability: Liability is unlimited for all the partners.
Kommanditiné ukiné bendrija or KUB (Limited partnership): Number of partners: Minimum 2 shareholders.
Maximum 20 shareholders.
Capital (max/min): No minimum capital required.
Shareholders and liability: Liability is unlimited for active partners and limited for sleeping partners

The Competent Organisation: The Company Register of Lithuania is the relevant organisation to be contacted for formalities in setting up a business.

Setting Up a Company	Lithuania	Eastern Europe & Central Asia
Procedures (number)	4.0	5.3
Time (days)	5.5	11.8

Source: Doing Business.

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

	2018	2019	2020
Labour Force	1,472,733	1,469,927	1,465,235

Source: International Labour Organization, ILOSTAT database

Source: International Labour Organization, ILOSTAT database

For Further Statistics: Official Statistics Portal
For Further Information About the Labour Market: Lithuania National Labour Law profile by ILO

Legal Weekly Duration: 40 hours per week; the daily number of hours should not exceed 8.
Retirement Age: 65 for both men and women by 2026.
Working Contracts: The Lithuanian Labour 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 five years.
Labour Laws: Consult the Doing Business Website, to obtain a summary of the labour regulations that apply to local entreprises.

Minimum Wage: The minimum monthly salary is €1,153 (or €7.05 per hour), as enacted by Government Ruling No. 709.
Average Wage: In 2023, the average gross salary of a single person was EUR 1,951 (EURES Europa).
Social Contributions: Social Security Contributions Paid By Employers: Between 1.77% and 2.77%.
Social Security Contributions Paid By Employees: 19.5%.

Social Dialogue and Involvement of Social Partners: The law provides for the right of workers to form and join independent unions, bargain collectively and conduct legal strikes, but law enforcement is not effective. The Trade Union members may not be less than one-fifth of all the employees in a company.
There are three main trade unions in Lithuania: the LPSK (Lithuanian Trade Union Confederation - LPSK), the Solidarumas and the LDF (Lithuanian Labour Federation - LDF), plus some independent trade unions.
Labour Unions: Lithuanian Trade Union Confederation
Lithuanian Labour Federation
Solidarumas
Unionisation Rate: About 8% 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.
Labour Regulation Bodies: Ministry of Social Security and Labour Protection

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