RESOLUTION
OF THE SUPREME COUNCIL OF THE REPUBLIC OF LITHUANIA
REGARDING THE PROCEDURE FOR THE APPLICATION OF THE LAW ON THE
AMENDMENTS AND SUPPLEMENTS TO THE LAW ON FOREIGN INVESTMENT IN
THE REPUBLIC OF LITHUANIA
The Supreme Council of the Republic of Lithuania resolves:
1. To establish that restrictions to foreign investors
prescribed by Article 27 of the Law shall not apply to natural
persons foreigners, who submit documents confirming their right
to the citizenship of the Republic of Lithuania, and who are
investing capital in Lithuania.
2. To establish that firms the income of which was derived
solely from their own products, and which exempt from profit tax
under Article 29 of the Law on Foreign Investment in the Republic
of Lithuania, enacted on 29 December 1990, shall be exempt from
profit tax for the prescribed period.
3. To commission the Government of the Republic of Lithuania
to adopt by 1 March 1992 the following resolutions:
3.1, on the conditions of land rent for firms in which
foreign capital has been invested; and
3.2. on the list of firms in which the right of foreign
investors to acquire controlling interest ( excess of 50 percent
of shares) may be restricted.
4. The resolution shall enter into force from the day of its
adoption.
BRONISLOVAS KUZMICKAS
Vice President
Supreme Council
Republic of Lithuania
Vilnius
11 February 1992
No I-2303