The tendency for Latvian entrepreneurs to set up businesses in other Baltic states is increasing. The accession of Lithuania to the European Union (EU) in 2004 secured additional benefits not only for companies in Lithuania, but also in the member states of the EU and the countries that are members of the Commonwealth of Independent States, an opportunity for more successful development of economic relations between Latvia and Lithuania.

The registration of Lithuanian companies is carried out through the State Enterprise - Center of Registers. The registry center is a state-owned company with limited civil liability. It was established on July 8, 1997 by the Ministry of Justice of the Republic of Lithuania with the use of state funds.

The main function of the registry center is the administration of the following three main state registers:

Real estate register;
Register of legal persons;
Address register.
The Registry Center took over responsibility for the registration of legal persons from local governments in 2004. However, company data has been recorded by the register since 1990.
Indeed, the Register Center in the Lithuanian Public Sector is considered an excellent example of the creation and development of a system of register databases.
The Ministry of Justice of the Republic of Latvia believes that the most suitable form of business for the management, maintenance and development of registers is precisely a state-owned company that can make a profit as it offers more opportunities to improve the efficiency of the registration process. In contrast to the institutions financed from the state budget, a state company also has the possibility of attracting suitable IT specialists and ensuring the development of IT.

Register of legal persons
The register contains complete information and historical data on the form and status of legal persons, their areas of activity, their size and information on representatives, members, governing bodies and obtained licenses, etc. of legal persons. Since 2004, most companies have had a mandatory requirement to submit annual financial reports to the register. Since 2010, limited liability companies have also been responsible for compiling a list of shareholders by submitting this information to the Center of Registers.
The register of legal persons applies the principles of transparency and publicity in practice, since the information on legal persons - companies, institutions and non-governmental organizations - is public.

Statements from the register of legal persons, annual reports, lists of shareholders or other documents, e.g. B. Minutes of board meetings are kept in the archive of the registry center and are available to all interested persons. This is a paid service.

2010. In 2010, the center or registers started the online electronic registration of legal persons. Taking into account the fact that using this service does not result in submitting documents in writing, a secure electronic signature is required. Up until now, online registration of legal persons was only possible for citizens of Lithuania. However, the registry center is actively working to ensure that foreign investors can take advantage of the same opportunities to use this service. Therefore, Lithuania is now introducing the Electronic Guide to Business Incorporation to provide foreign clients with the necessary assistance by providing information on how to carry out the procedures for incorporation and registration.

European Business Register
The European Business Register is a network of national commercial registers providing information from 24 European countries. The European Business Centre ensures an easy access to the necessary information on any of the European enterprises directly from the official register of each country.
It allows everyone to obtain comparable official information on any foreign company for a reasonable fee. It improves the situation of small and medium enterprises, because so far they have had difficulties to obtain information on enterprises within the territory of Europe. Users can search for information on more than 20 million companies throughout Europe.
In order to use the European Business Register please visit its webpage ebr.org.

The Centre of Registers offers to register various forms of legal entities. For example:

a public limited liability company (registration fee - LTL 198). Formation: the articles of association of a company must be drafted. If a company is established by one person, a founding act of the company must be drafted. The founder may submit to the Register of Legal Entities an application on the name of the company. It ensures a possibility to open a savings (accumulation) account at the bank for the bank. A sum of at least LTL 150,000 is necessary as the initial amount of capital. Each shareholder has to pay at least a quarter of the total sum of the value of shares in cash. A foundation meeting is convened in order to approve the founder's statement and to appoint a board of the company which is done by the shareholder meeting. After signing the articles of association of the company, it is deemed starting from the moment of registration that a new legal entity is established. In its turn, before the registration, an application must be submitted to the register's administrator, a notary has to confirm that the application complies with the legislative requirements and conditions of the articles of association and that the limited liability company is entitled to registration;
a private limited liability company (registration fee - LTL 198). Contrary to the public limited liability company, this form of enterprise requires an equity capital of LTL 10,000 which does not have to be paid in cash;V
a cooperative enterprise (registration fee - LTL 143);V
an individual enterprise (registration fee - LTL 107). The articles of association of an enterprise must be drafted and signed by an owner of the enterprise. The owner may submit to the Register of Legal Entities an application on the name of the enterprise. If the owner of the enterprise is not the manager of the company, he or she must appoint a person to manage the enterprise and to include the details of this person in the articles of association;
a state enterprise (registration fee - LTL 120). Usually this type of enterprise is established based on a decision by the government. The foundation act is adopted by the relevant authority. The institution which is given the rights and obligations of an owner of the enterprise has to draft and approve the articles of association. A board is created and a chairman of the board is appointed, if necessary;
a budget institution (registration fee - LTL 30);
an association (registration fee - LTL 91);
a traditional religious association;
a trade union;
an agricultural company (registration fee - LTL 143). The company must consist of at least two members. A foundation meeting is convened to approve the minimum amount of investments and decide on organisation and governing body of the enterprise;
a co-operative society (registration fee - LTL 143);
a credit union (registration fee - LTL 107);
a municipal enterprise (registration fee - LTL 120);
a public institution (registration fee - LTL 107);
a charity and benefits foundation (registration fee - LTL 91);
a political party (registration fee - LTL 107);
other religious associations and societies (registration fee - LTL 107);
a branch or representative office of a foreign company (registration fee - LTL 200). A decision must be made on establishment of a branch or representative office according to its documents of incorporation. The articles of association must be drafted, and a management body must be appointed.

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