A depository of an undertaking for collective investment in transferable securities (UCITS) must either have its registered office in the same EU Member State as that of the undertaking or be established in the EU Member State if its registered office is in another EU Member State (Directive 2009/65/EC). Only a private limited company and a public limited company holding a license issued by the supervisory authority have the right to engage in the activities of an alternative investment fund management company (Directive 2011/61/EU).


"Article 35 . The obligation to transfer assets to the depository and the activities of the depository
1 . The assets of the collective investment entity are kept by one depository. [...]
2 . The depository of a collective investment entity established in the Republic of Lithuania can be a licensed credit institution that has the right to provide investment services in the Republic of Lithuania or another member state, or a licensed financial brokerage company established in the Republic of Lithuania or having a registered office or branch in the Republic of Lithuania that has the right in the Republic of Lithuania or another in a member state to provide additional services for the storage and administration of financial instruments on behalf of clients and whose own funds and initial capital are at least 750,000 euros. [...]" (Law on Collective Investment Undertakings (4 July 2003, No. IX-1709; last amended 30 December 2021), Article 35 [google translation])
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"Article 11 . Activities of foreign financial institutions in the Republic of Lithuania:
1 . A foreign state financial institution may establish controlled companies in the Republic of Lithuania or acquire the authorized capital and / or voting rights of already operating companies, establish branches and representative offices.
2 . A foreign financial institution may provide financial services in the Republic of Lithuania only after obtaining the permission and (or) license of an institution established by the laws of the Republic of Lithuania (if the law provides that such permission or license is necessary) to provide financial services. [...]
[...]
Article 12 . The right of financial institutions licensed in the Member States of the European Union to provide financial services in the Republic of Lithuania:
1. A financial institution licensed in a Member State of the European Union may establish a branch in the Republic of Lithuania if the foreign supervisory authority has submitted the institution's business plan to the supervisory authority of financial institutions of the Republic of Lithuania and specified the type of activity, intended branch address, structure and information on branch managers. Upon receipt of such notification, the supervisory authority of financial institutions of the Republic of Lithuania shall prepare for supervision and shall indicate to the financial institution which operational requirements it will have to comply with. A branch may be established when a financial institution receives such a notification from the supervisory authority of financial institutions of the Republic of Lithuania, and if no notification is received - 2 months after the foreign supervisory authority has transmitted the information provided for in this Part to the supervisory authority of financial institutions of the Republic of Lithuania.
2 . If a financial institution referred to in Paragraph 1 of this Article already has at least one branch in the Republic of Lithuania, the procedure established in this Article shall not apply to the establishment of other branches thereof.
3 . A financial institution licensed in a Member State of the European Union may, in other cases specified in the laws of the Republic of Lithuania regulating the provision of financial services, start providing financial services in the Republic of Lithuania without establishing a branch 1 month after the foreign supervisory authority. [...]" (Law on Financial Institutions (10 September 2002, No. IX-1068; last amended 19 December 2019), Articles 11 and 12 [google translation])
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"Article 5 . The right to engage in the activities of a management company:
1 . Only a private limited company and a public limited company holding a license issued by the supervisory authority have the right to engage in the activities of a management company operating in accordance with this Law. A license shall be obtained when the conditions specified in Paragraph 2 of Article 2 of this Law are met, including the case specified in Paragraph 7 of Article 2. A management company license obtained in accordance with this Law entitles the holder to manage special collective investment undertakings and informed collective investment undertakings, as well as other collective investment undertakings in accordance with this Law and, where applicable, the Law on Collective Investments or the Law on Collective Investment Undertakings. requirements.
2 . Collective investment undertakings established in the Republic of Lithuania shall also be entitled to be managed by management companies established in other Member States in accordance with the law of those Member States.
3 . Under a financial brokerage firm's license or a credit institution's license issued by a supervisory authority or a supervisory authority of another Member State, where a credit institution's license entitles it to provide investment services, existing financial brokerage firms or credit institutions are not required to obtain a separate license to provide investment services related to a collective investment undertaking, including: financial instruments portfolio management or unit distribution services. Financial brokerage firms whether credit institutions entitled to provide investment services may, directly or indirectly, publicly or publicly offer units or shares of a collective investment undertaking to investors only if and to the extent that the units or shares may be distributed in accordance with this Law.
4 . If the management company is licensed in another Member State and it complies with the requirements of legal acts adopted in another Member State transposing the provisions of Directive 2011/61 / EU, it may operate in the Republic of Lithuania.[...]" (Law on Alternative Collective Investment Undertakings Managers (18 December 2014, No. XII-1467; last amended 21 May 2020), Article 5 [google translation])
Law on Collective Investment Undertakings (4 July 2003, No. IX-1709; last amended 30 December 2021), Article 35
Law on Financial Institutions (10 September 2002, No. IX-1068; last amended 19 December 2019), Articles 11 and 12 
Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), Article 23
Law on Alternative Collective Investment Undertakings Managers (18 December 2014, No. XII-1467; last amended 21 May 2020), Article 5
Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010
[<a href="https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/TAIS.215766/asr">Law on Collective Investment Undertakings</a>],[<a href="https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/TAIS.183130">Law on Financial Institutions</a>],[<a href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02009L0065-20200107">Directive 2009/65/EC</a>],[<a href="https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/830eea708f6111e48028e9b85331c55d/asr">Law on Alternative Collective Investment Undertakings Managers</a>],[<a href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02011L0061-20190113">Directive 2011/61/EU</a>]