RESOLUTION RESOLUTION OF THE SUPREME COUNCIL OF THE REPUBLIC OF LITHUANIA REGARDING THE PROCEDURE FOR THE APPLICATION OF THE LAW ON THE AMENDMENTS AND SUPPLEMENTS TO THE LAW ON FOREIGN INVESTMENT IN THE REPUBLIC OF LITHUANIA The Supreme Council of the Republic of Lithuania resolves:
- To establish that restrictions to foreign investors prescribed by Article 27 of the Law shall not apply to natural persons foreigners, who submit documents confirming their right to the citizenship of the Republic of Lithuania, and who are investing capital in Lithuania.
- To establish that firms the income of which was derived solely from their own products, and which exempt from profit tax under Article 29 of the Law on Foreign Investment in the Republic of Lithuania, enacted on 29 December 1990, shall be exempt from profit tax for the prescribed period.
- To commission the Government of the Republic of Lithuania to adopt by 1 March 1992 the following resolutions: 3.1, on the conditions of land rent for firms in which foreign capital has been invested; and 3.
- on the list of firms in which the right of foreign investors to acquire controlling interest ( excess of 50 percent of shares) may be restricted.
- The resolution shall enter into force from the day of its adoption. BRONISLOVAS KUZMICKAS Vice President Supreme Council Republic of Lithuania Vilnius 11 February 1992 No I-2303