Company law

In the field of company law, the following laws fall under the competence of the Ministry of Economy and Innovation of the Republic of Lithuania: Law on Companies, State and Municipal Enterprise Law, Law on Partnerships, Law on Individual Enterprises, Law on public institutions, Law on small communities, Law on the European Economic Interest Grouping, Law on European Companies, Law on European Cooperative Societies, Law on Cross-Border Mergers of Limited Liability Companies along with the Government resolutions adopted on the basis thereof.

Most of the rules applicable to regulation of public and private limited liability companies are in conformity with the requirements of the European Communities’ company law directives while the Laws on the European Economic Interest Grouping, European Companies and on European Cooperative Societies help ensure proper implementation of the European Communities’ company law regulations.

Company law is dynamic. Major objectives pursued in the field of modernisation of the company law include simplification of regulation, enhancement of corporate governance and employment of modern technologies in the process of establishments and in decision making in the company organs as well as elimination of barriers which relate to cross-border mergers and governance.