Įstatymas skelbtas: Žin REPUBLIC OF LITHUANIA LAW ON FOREIGN CURRENCY IN THE REPUBLIC OF LITHUANIA 7 July 1993 – No I-202 (As last amended on 10 December 2009 – No XI-561) Vilnius Article 1. Concept o

f a Foreign Currency Foreign currency shall be the currency of any foreign state or the currency used commonly by foreign states. Article

1. Foreign Currency Accounts Legal and natural persons of the Republic of Lithuania and foreign states shall have the right to open foreign currency accounts and hold deposits with the credit institutions of the Republic of Lithuania and the divisions of the foreign credit institutions operating in the Republic of Lithuania. Natural and legal persons of the Republic of Lithuania shall have the right to open foreign currency accounts and hold deposits in foreign states in accordance with the procedure laid down in those states. Natural and legal persons of the Republic of Lithuania shall provide information about the accounts opened and closed in foreign states to the State Tax Inspectorate under the Ministry of Finance of the Republic of Lithuania in accordance with the procedure laid down by the Law of the Republic of Lithuania on Tax Administration. Article
2. Exchange and Utilisation of a Foreign Currency The litas to a foreign currency, a foreign currency to the litas or one foreign currency to another foreign currency shall be exchanged (purchased, sold) by the credit institutions holding the authorisations (licences) granted for these activities in accordance with the procedure laid down by laws, other payment services providers, to the extent it is related to the provision of payment services, and financial brokerage firms, to the extent it is related to the provision of investment services. The Bank of Lithuania may establish a procedure for exchanging (purchasing, selling) a foreign currency. A foreign currency may be used solely by agreement of the parties for non-cash payments and settlements, and the currency of the European Union (the euro) – also for payments and settlements in cash. A foreign currency may also be used, by agreement of the parties, for payments and settlements in cash onboard the aircraft and ships flying the flag or displaying marks of registry of the State of Lithuania and carrying cargoes and passengers on international routes. Article
3. Foreign Loans The foreign loans taken on behalf of the State and with a State guarantee must be registered with the Ministry of Finance of the Republic of Lithuania in accordance with the procedure laid down by the Government of the Republic of Lithuania. The foreign loans taken without a State guarantee by the legal persons and enterprises of the Republic of Lithuania not having a legal personality and the loans granted to foreign economic entities must be registered with the Bank of Lithuania in accordance with the procedure laid down by the Bank of Lithuania. Article
4. Import and Export of Capital The import of the foreign capital invested in the Republic of Lithuania as well as the export of the said capital, the generated profit, and dividends shall be established by the Law of the Republic of Lithuania on Investments and the Law of the Republic of Lithuania on the Fundamentals of Free Economic Zones. Article
5. Exchange Rate of the Litas in Keeping of Accounts All enterprises, establishments, organisations, banks and credit unions must keep accounts according to the official exchange rate of the litas and the ratio of the litas and a foreign currency as promulgated by the Bank of Lithuania. Article
6. Liability for Violation of the Law The persons who violate the procedure for utilising, carrying out operations with, exporting and importing a foreign currency, also the procedure for registering foreign loans shall be held liable under the laws of the Republic of Lithuania. Article
7. Final Provisions Enterprises, establishments, organisations, banks, insurance organisations of all types of ownership shall convert into the litas the portion of the authorised capital held in a foreign currency, as well as shares, dividends, bonuses, insurance indemnities, insurance sums and other payments according to the data of 1 August 1993 and in accordance with the official exchange rate established by the Bank of Lithuania or any other procedure established by the Government of the Republic of Lithuania. Article
8. Entry into Force of the Law The Law shall enter into force on 1 August
9. I promulgate this Law passed by the Seimas of the Republic of Lithuania. PRESIDENT OF THE REPUBLIC ALGIRDAS BRAZAUSKAS