As of 1 January 2015, alongside adoption of the euro, a special law was introduced imposing requirements on all companies (those established until 1 December 2014) to convert the nominal value of shares and the amount of their share capital from the old currency (litas) to euros in accordance with specific conversion procedures. Amended articles of association should be registered with the Register of Legal Persons within 24 months after the requirement entered into force, ie until 1 January 2017. One year of the grandfathering period is still left.

In practice, companies amend their articles of association to comply with conversion requirements alongside other amendments caused by other ongoing corporate reasons such as the need to increase share capital, forming the management board, and so on. If shareholders do not foresee changes in their corporate activity that could require amendments to the articles of association within one year onwards, it is advisable to put the currency conversion question on the agenda of the next annual general meeting of shareholders of the company to ensure the conversion requirements are duly complied with by 1 January 2017.

Detailed conversion procedures may be found here (available in Lithuanian only).