Comparison of legal entities

Evaluation criteria
Mažoji bendrija (MB)Uždaroji akcinė bendrovė (UAB)Akcinė bendrovė (AB)Individuali įmonė (IĮ)Viešoji įstaiga (VšĮ)
Number of members
1 to 10 members (individual persons only)From 1 (unlimited number)From 1 (unlimited number)1 owner (individual person)Shareholders (number is not limited) or 1 owner. individual and legal persons may be established.
The minimum amount of capital
Not determined, can both monetary contribution and material contribution2500€25 000€NoneNot determined
Responsibility
Limited civil liability (company is liable only with its own assets)Limited civil liability (company is liable only with its own assets)Limited civil liability (company is liable only with its own assets)Unlimited civil liability (owner is liable with all his own property)Limited civil liability (company is liable only with its own assets)
Principle of decision making (voting)
1 member - 1 vote, but when the MB has a manager, the regulations may provide otherwiseIf all the voting shares of UAB have the same nominal value, each share entitles its holder to one vote at the general meeting of shareholders.If all AB voting shares have the same nominal value, each share entitles its holder to one vote at the general meeting of shareholders.Decisions are made by the ownerStakeholders make decisions by voting. 1 shareholder -1 vote
Accounting
Optional accountant (accounting can also be managed by MB members according to 38 VAS)Mandatory accountant or contract with an accounting firmMandatory accountant or contract with an accounting firmOptional accountantMandatory accountant or contract with an accounting firm

Source of information: https://www.verslilietuva.lt/verslauk/verslo-formos-ir-mokesciai/juridiniu-asmenu-palyginimas/

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