Step | Action | Documentation | Signatures? | Timing | Originals? | Notarization/ Certification? |
Waiver of Step? |
Miscellaneous |
---|---|---|---|---|---|---|---|---|
1 |
Convening of EB Meeting/SB Meeting (the latter if no EB is established). |
Convening notice. |
No. |
Within reasonable time for all EB/SB members to participate (if not otherwise specified in the Rules of Procedure of the EB/SB (“RoP”). |
No. |
No. |
Yes, if all EB/SB members concur. |
Notice to be given in writing or any other way to all EB/SB member (if not provided otherwise in the RoP). |
2 |
EB/SB Meeting. |
Minutes of the EB/SB Meeting or Decision of the EB/SB. |
Yes, to be signed by the Secretary and/or Chairman of the EB/SB Meeting or all EB/SB members (in case of Decision of the EB/SB). |
On the date agreed by the EB/SB members. |
Yes. |
No. |
No, however, no physical meeting is required if all EB/SB members concur. |
The appointment will become effective as per the date of the EB/SB Meeting (or any other date indicated by the EB/SB) and is generally not affected by the registration with the Lithuanian Register of Legal Entities (cf. Step 3). |
3 |
Filing with the Lithuanian Register of Legal Entities. |
(i) Online or hard copy filing forms; (ii) Minutes of the EB/SB Meeting or the Decision of the EB/SB; (iii) Power of Attorney (if the documents are being submitted by an authorized person). |
Yes, forms to be signed by an authorized person or the MD. |
No later than 5 calendar days following the EB/SB Meeting. |
Yes, the original Minutes of the EB/SB Meeting or the Decision of the EB/SB is to be filed. |
No. |
No. |
If a foreigner is appointed, residence address and a copy of passport of such person also has to be submitted to the Lithuanian Register of Legal Entities. Appointment of the MD can also be filed online through self-service webpage of the Lithuanian Register of Legal Entities. |
1
Step 1
|
2
Step 2
|
3
Step 3
|
|||
0-5 days + reasonable time *Within reasonable time for each EB/SB members to participate in the EB/SB Meeting. |
Step | Action | Documentation | Signatures? | Timing | Originals? | Notarization/ Certification? |
Waiver of Step? |
Miscellaneous |
---|---|---|---|---|---|---|---|---|
1 |
Convening of EB Meeting or SB Meeting (the latter if no EB is established). |
Convening notice. |
No. |
Within reasonable time for all EB/SB members to participate (if not otherwise specified in the Rules of Procedure of the EB/SB (“Rop”)). |
No. |
No. |
Yes, if all EB/SB members concur. |
Convening notice to be given in writing or any other way to all EB/SB members (if not provided otherwise in the RoP). |
2 |
EB/SB Meeting. |
Minutes of the EB/SB Meeting or Decision of the EB/SB. |
Yes, to be signed by the Secretary and/or Chairman of the EB/SB Meeting or all EB/SB members (in case of Decision of the EB/SB). |
On the date agreed by the EB/SB members. |
Yes. |
No. |
No, however, no physical meeting is required if all EB/SB members concur. |
The dismissal will become effective as per the date of the EB/SB Meeting (or any other date indicated by the EB/SB) and is generally not affected by the registration with the Lithuanian Register of Legal Entities (cf. Step 3). |
3 |
Filing with the Lithuanian Register of Legal Entities. |
(i) Online or hard copy filing forms; (ii) Minutes of the EB/SB Meeting or the Decision of the EB/SB; (iii) Power of Attorney (if the documents are being submitted by an authorized person). |
Yes, forms to be signed by an authorized person or the MD. |
No later than 5 calendar days following the EB/SB Meeting. |
Yes, the original Minutes of the EB/SB Meeting or the Decision of the EB/SB are to be filed. |
No. |
No. |
Dismissal of the MD can also be filed online through self-service webpage of the Lithuanian Register of Legal Entities. |
1
Step 1
|
2
Step 2
|
3
Step 3
|
|||
0-5 days + reasonable time *Within reasonable time for each EB/SB members to participate in the EB/SB Meeting. |
COBALT has provided all input about changing board members in Lithuania. COBALT is the new [...] closely integrated legal services alliance formed by Raidla Lejins & Norcous offices in Lithuania and Latvia, LAWIN office in Estonia and a newly established law office in Belarus.
COBALT is a recognized legal advisor in domestic and cross-border acquisitions, disposals, mergers, de-mergers, private equity, and venture capital investments, joint ventures, shareholder buyouts, LBOs and MBOs, share buybacks.
For more information about COBALT and changing board members in Lithuania, please use the below contacts:
TEL: +370 672 17478EMAIL: Juozas.Rimas@cobalt.legal
WEB: www.cobalt.legal