The tendency of Latvian entrepreneurs establishing enterprises in other Baltic States becomes increasingly frequent. The accession of Lithuania to the European Union (EU) in 2004 ensured not only additional advantages for business in the territory of Lithuania, but also in the Member States of the EU and the countries that are members of the Commonwealth of Independent States, thus providing an opportunity for more successful development of the economic relations between Latvia and Lithuania.

Registration of Lithuanian companies is performed by the state enterprise - Centre of Registers. The Centre of Registers is a state enterprise with limited civil liability. It was established by the Ministry of Justice of the Republic of Lithuania on 8 July 1997 by using State resources.

The most significant function of the Centre of Registers is management of the three following main registers of the state:

Real Estate Register;
Register of Legal Entities;
Register of Addresses.
The Centre of Registers took over the responsibility to register legal entities from local governments in 2004; however, the enterprise data have been collected by the register since 1990.
In fact, the Centre of Registers is considered an excellent example in the public sector of Lithuania of how to create and develop a system of register databases.
The Ministry of Justice of the Republic of Latvia believes that the most appropriate form of enterprise for management, maintenance and development of registers is exactly a state enterprise which can gain profit, because it ensures more possibilities to improve efficiency of the registration process. Unlike the institutions financed from the State budget, a state enterprise also has the possibilities to attract appropriate information technology (IT) specialists and to ensure development of IT.

Register of Legal Entities
The register contains full information and historical data on the form and status of legal entities, their fields of activity, their size and information on representatives, members, management bodies and obtained licences etc. of legal entities. Since 2004 most of the companies has to comply with a mandatory requirement to submit annual finance reports to the register. Also, since 2010 private limited liability companies have a responsibility to declare a list of shareholders by submitting this information to the Centre of Registers.
The Register of Legal Entities applies in practice the principles of transparency and publicity, because the information on legal entities - enterprises, institutions and non-governmental organisations is public.

Statements from the Register of Legal Entities, annual reports, lists of shareholders or any other document, for example, minutes of board meetings, are kept in the archive of the Centre of Registers, and they are available to all interested persons. This is a paid service.

2010. In 2010, the Centre or Registers launched the electronic registration of legal entities online. Taking into account that by using this service no documents are submitted in written form, a safe electronic signature is necessary. So far online registration of legal entities has been available only to the citizens of Lithuania, but the Centre of Registers is actively working on ensuring equal possibilities for foreign investors to use this service. Therefore now the e-Guide for establishment of enterprises is introduced in Lithuania to provide foreign customers with the necessary assistance by offering the information on how to carry out procedures of establishment and registration.

https://www.baltic-legal.com/lithuania-registration-of-enterprises-eng.htm