The Lithuanian parliament has passed legislative amendments, put forward by President Dalia Grybauskaitė, that make it mandatory for parties to large transactions to get them attested by a public notary starting next year.
Notary's office
© DELFI (J.Markevičiaus nuotr.)

The initiators of the bill say that the notarization requirement will help combat illicit enrichment by preventing the use of fictitious promissory notes or share purchase-sale agreements to justify the origin of one's assets. However, critics say that additional requirements may undermine investments.

The Seimas passed the amendments by a vote of 58-14 with 30 abstentions.

It is proposed that transactions subject to mandatory notarization should include agreements by which 25 or more of shares in a private limited company are sold or which are worth more than 50,000 litas (EUR 14,500).

BNS
Naujienų agentūros BNS informaciją skelbti, cituoti ar kitaip atgaminti visuomenės informavimo priemonėse bei interneto tinklalapiuose be raštiško UAB "BNS" sutikimo neleidžiama.

Swedbank's pension funds invest EUR 200 mln into sustainable business

Pension funds managed by the Swedbank financial group are investing 200 million euros, or a sixth...

Belarus complains: Lithuania's blocking Minsk-EU agreement

Belarusian representatives complained in Brussels last week that Lithuania is blocking the...

New trends in startup world: unicorns' aspiration is not key anymore

The question when the first unicorn with over 1 billion of US dollars in value will appear in the...

Shopping frenzy: biggest retail chains plans allocate millions of euros for new stores

Lithuania's five biggest retail chains – Maxima , Lidl , Rimi, Iki and Norfa – have...

Construction launched on EUR 15 mln hotel in Kaunas

Construction is being launched on a 15-million-euro Moxy hotel, part of the Marriott Group , in...