The Lithuanian Parliament has passed amendments to the Civil Code expanding the list of transactions which must be certified by a notary public. As of 1 January 2015, agreements for sale and purchase of shares in private limited liability companies (UAB) must be certified by a notary public if:

  • 25% or more of total shares in the company are sold, or
  • the shares are sold at a price higher than EUR 14,500.

Even if these criteria are met, exemption from the requirement of notarial certification applies if personal securities accounts of shareholders are managed according to procedures laid down in legal acts regulating the securities market. Effectively, this should mean that if shares in a private limited liability company are registered with the Lithuanian Central Securities Depository and personal securities accounts of shareholders are kept by licensed account managers (commercial banks or securities brokerage firms), the requirement to certify a share sale-purchase agreement through a notary should not apply.