cooperative company in europe

Cooperative company (Kooperatiniu bendroviu istatymas , KBI)

A cooperative company is an economic entity with a changeable composition and capital. It is established on a voluntary basis by a group of at least 5 individuals, or individuals and legal persons, for the purpose of satisfying their collective business, economic and social needs. The founders of the cooperative company may only be Lithuanian citizens or legal persons registered in Lithuania. The cooperative company may engage in any activities that are not prohibited by the laws of Lithuania. The cooperative company is an economic entity of limited liability, i.e. liable for its obligations to the extent of the value of its property. The cooperative company is not liable for the obligations of its member -owners when these obligations are not related to the activities of the cooperative company.

If you have questions about Lithuania, do not hesitate to contact us.