THE SMALL
COOPERATIVE
4 business days.
ADVANTAGES
- No registered capital is necessary;
- Limited civil liability;
- Participants can participate in the management themselves.
The most recent form of a legal entity that has the characteristics of an individual enterprise and a private limited liability company. The partnership can be established by 1 to 10 people.
We will establish the company within 4 days.
The small cooperative is the latest legal form of the entity which was only established on 1 September 2012 when the Law on Small Cooperatives of the Republic of Lithuania came into force.
It is an intermediate option between the individual enterprise and the private limited liability company, inasmuch as the small cooperative has the characteristics of both. The small cooperative is a private entity of the limited liability which can be established by 1 to 10 natural persons.
Limited liability means that members of the small cooperative are liable to third parties and creditors only with the assets they have contributed to the cooperative and are not liable with their personal assets for the obligations of the small cooperative.
The advantage over the private limited liability company is that there is no requirement of the registered capital when establishing the small cooperative.
The small cooperative is distinguished from other forms of legal entities by the fact that the member withdrawing from the business has the opportunity to recover the contributions he has made (which may have changed depending on the profitability of the cooperative).
A sole management body is not mandatory in the small cooperative. The meeting of stakeholders can adopt all decisions. In such a case, the small cooperative will be represented in its relations with third parties by a representative of the small cooperative elected by the meeting of stakeholders. Such a representative will not be considered a sole-member management body. It is also possible to choose a traditional management structure where the key management body is the manager.
A structure without a sole management body; one member voting in the meeting shall have one vote, regardless of the contribution of the member.
A civil (service) contract and not the employment contract is concluded with the manager. Employment contracts are only concluded with employees who are not members of the small cooperative.
The profit share of the small cooperative intended for the members of the small cooperative is distributed to each member in proportion to the size of his contribution; however, the regulations may also provide for a different profit distribution procedure. The profit of the small cooperative may also be distributed between its members for a shorter period than the financial year.
Informuojame, kad šioje svetainėje naudojami slapukai (angl. cookies). Sutikdami, paspauskite mygtuką „Sutinku“ arba naršykite toliau. Savo duotą sutikimą bet kada galėsite atšaukti pakeisdami savo interneto naršyklės nustatymus ir ištrindami įrašytus slapukus.
SUTINKUSKAITYTI DAUGIAUWe may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.
Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.
These cookies are strictly necessary to provide you with services available through our website and to use some of its features.
Because these cookies are strictly necessary to deliver the website, refuseing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.
We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.
We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.
These cookies collect information that is used either in aggregate form to help us understand how our website is being used or how effective our marketing campaigns are, or to help us customize our website and application for you in order to enhance your experience.
If you do not want that we track your visit to our site you can disable tracking in your browser here:
We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.
Google Webfont Settings:
Google Map Settings:
Google reCaptcha Settings:
Vimeo and Youtube video embeds:
The following cookies are also needed - You can choose if you want to allow them:
You can read about our cookies and privacy settings in detail on our Privacy Policy Page.
Privatumo politika