Contributors

(Acrobat Reader, 76 KB)

2. Country Profile

(Acrobat Reader, 186 KB)

Country Background Political System Labour Force Education Lithuania's Infrastructure

3. Business Climate

(Acrobat Reader, 193 KB)

Foreign Investment in Lithuania Top Foreign Investors in Lithuania (as of January 2002) Lithuania's Foreign Trade Free Economic Zones

4. Overview of Lithuanian Economy

(Acrobat Reader, 190 KB)

Gross Domestic Product Foreign Trade Privatisation The Monetary System State Finance and State Debt Capital Market Banking Labout Market and Personal Income

5. Brief Introduction to Lithuanian Legal System

(Acrobat Reader, 169 KB)

6. Arbitration. Introduction

(Acrobat Reader, 114 KB)

Applicable Legislation National and International Commercial Arbitration Commercial and Non-Commercial Disputes Institutional and Ad Hoc Arbitration Form of Arbitration Agreements Powers of Arbitral Tribunal Pertaining to Interim Measures Appeals against Arbitral Awards Effect and Enforcement of Arbitral Awards Recognition and Enforcement of Foreign Arbitral Awards

7. Banking, Finance and Insurance. Introduction

(Acrobat Reader, 147 KB)

Applicable Legislation Regulation of Banking Activities Restrictions on Bank Ownership and Operations Opening Bank Account Banking Supervision Foreign Exchange Restrictions Regulation of Insurance Market

8. Bankruptcy. Introduction

(Acrobat Reader, 139 KB)

Applicable Legislation Scope of Regulation Petition in Bankruptcy Bankruptcy Proceedings Administrator Non-Judicial Bankruptcy Proceedings Protection of Creditors, Debtors and Third Persons Termination of Bankruptcy Proceedings Restructuring of Enterprises Settlement with Creditors Liquidation of Bankrupt Enterprises Sales of Assets and Ranking of Creditors Claims

9. Competition Law. Introduction

(Acrobat Reader, 156 KB)

Applicable Legislation Regulatory Framework Notion of Undertaking Extraterritoriality Anti-Competitive Agreements Abuse of Dominant Position Concentration Control Unfair Competition Investigation and Hearing of Cases Sanctions for Breach of Law on Competition

10. Consumer Protection. Introduction

(Acrobat Reader, 119 KB)

Applicable Legislation Regulatory Framework Consumers' Rights Quality of Goods and Services Product Safety Consumer Information Liability

11. Energy Law. Introduction

(Acrobat Reader, 180 KB)

Applicable Legislation Regulatory Framework Natural Gas Sector Electric Energy Sector Thermal Energy Sector Oil and Oil Products Sector

12. Enterprise Law. Introduction

(Acrobat Reader, 145 KB)

Applicable Legislation Regulatory Framework Local Representation of Foreign Companies Corporate Legal Entities Incorporation of Enterprises Group Enterprises

13. Environmental Regulations. Introduction

(Acrobat Reader, 132 KB)

Applicable Legislation Regulatory Framework Regulation of Economic Activities Land Use Investigation and Exploitation of Underground Areas and Resources Protection of Forests Use of Water Resources Protection of Air Waste Management Environmental Taxes Environmental Liability

14. Financial Reporting and Audit Requirements. Introduction

(Acrobat Reader, 123 KB)

Applicable Legislation Regulatory Framework Accounting Auditing

15. Foreign Investment. Introduction

(Acrobat Reader, 142 KB)

Applicable Legislation Regulatory Framework Principles of Foreign Investment Forms of Investment Investment Protection and Guarantees Investments Related to Real Estate Concession Incentives Free Economic Zones

16. Import, Export and Trade. Introduction

(Acrobat Reader, 132 KB)

Applicable Legislation Regulatory Framework Regulation of Import (Release of Goods for Free Circulation) Regulation of Export Customs Transit Procedures Import, Export and Transit Restrictions and Prohibitions Customs Warehouses and Import-Export Terminals Customs Mediators Free Economic Zones Protection of Local Producers and Anti-Dumping Regulations

17. Intellectual Property. Introduction

(Acrobat Reader, 145 KB)

Applicable Legislation Regulatory Framework Copyright and Neighbouring Rights Trademarks and Service Marks Well-Known and Reputation Having Trademarks Patents Industrial Design Firm Names Know-How and Trade Secrets Licensing Agreements

18. Labour. Introduction

(Acrobat Reader, 137 KB)

Applicable Legislation Regulatory Framework Trade Unions Employers' Organisations Enterprise Agreements and Collective Agreements Employee Training Programs Employment Contracts Foreign Personnel Wages and Salaries Vacations Work Hours and Occupational Health and Safety

19. Privatisation. Introduction

(Acrobat Reader, 122 KB)

Applicable Legislation Regulatory Framework Methods of Privatisation Preparation of Property for Privatisation Payment for Privatised Property Restrictions on Activities of Enterprises under Privatisation

20. Real Estate Law. Introduction

(Acrobat Reader, 146 KB)

Applicable Legislation Regulatory Framework Acquisition of Land and Buildings Lease of Land and Buildings Mortgage Servitudes Taking of Property (Expropriation) Construction

21. Securities. Introduction

(Acrobat Reader, 134 KB)

Applicable Legislation Regulatory Framework Main Concepts

22. Social Security. Introduction

(Acrobat Reader, 105 KB)

Applicable Legislation Regulatory Framework Social Security Contributions and Social Benefits

23. Taxes. Introduction

(Acrobat Reader, 157 KB)

Applicable Legislation Regulatory Framework Indirect Taxes Direct Taxes Other Significant Taxes Foreign Exchange Controls Withholding Tax Rates under Treaties Personal Income Tax Taxes at a Glance

24. Telecommunications Law. Introduction

(Acrobat Reader, 129 KB)

Applicable Legislation Regulatory Framework Competition Licensing of Telecommunications Activities Regulation of Pricing Universal Services Interconnection Collocation and Facility Sharing Telecommunications Equipment

25. Transport Law. Introduction

(Acrobat Reader, 144 KB)

Applicable Legislation Regulatory Framework Road Transport Activities Water Transport Activities

26. Municipal Government

(Acrobat Reader, 189 KB)

City Background New Economy Progressive Society Distinctive Environment Conditions of Success City's Fiscal Balance Foreign Investments Investment Projects Credit Rating Services and Trade Industry and Production Privatisation

This is the fourth annual publication of the guide. The information in this guide is updated as of 1 January 2002 except where expressly indicated otherwise.

Please note that the Lithuanian laws are constantly evolving as Lithuania continues its transition and negotiations on accession to the European Union. Therefore, this guide is not intended to take the place of legal counsel, but rather to provide a comprehensive introduction to principal fields of Lithuania's legal environment. We hope that this guide will facilitate your interaction with local professionals in an intelligent, informed and effective manner.

We welcome your comments and suggestions on ways to improve this guide and wish you success in all your endeavours in Lithuania.