Issue of a fishing vessel certificate to an undertaking requires that the fishing vessel is registered in the Lithuanian ship registry and that the undertaking has a valid permit for the ship to fly the Lithuanian flag. Accoriding to the Law of Merchant Shipping, registration in the Lithuanian ship register requires that the owner of the ship is a citizen of the Republic of Lithuania or a legal person registered in the Republic of Lithuania.
"Article 7 . Ship's flag:
1 . The right to fly the flag of the State of Lithuania is granted to ships registered in the Register of Seagoing Ships of the Republic of Lithuania.
[...]

Article 8 . Ship registration:
1 . A ship shall be registered in the Register of Seagoing Ships of the Republic of Lithuania if it is designed and built for navigation at sea and has documents confirming this, and the owner of the ship is a citizen of the Republic of Lithuania or a legal person registered in the Republic of Lithuania.
[...]"
(Law on Merchant Shipping (12 September 1996, No.I-1513; last amended 19 December 2019), Articles 7 and 8 [google translation])

******

"Article 2 . The basic concepts of this law:
[...]
12 . Fishing vessel of the Republic of Lithuania - a fishing vessel registered in the Register of the Fishing Fleet of the European Union, flying the flag of the State of Lithuania and having a fishing vessel certificate issued to it by the Republic of Lithuania. 
13 . Fishing vessel certificate of the Republic of Lithuania - issued by an institution authorized by the Ministry of Agriculture in accordance with Regulation (EC) No Document as defined in Article 4 (9) of Regulation (EC) No 1224/2009.
[...]

Article 13 . Issuance of a fishing vessel certificate of the Republic of Lithuania, suspension, revocation of suspension, amendment of a certificate and revocation of a certificate:
1 . A fishing vessel operated by an undertaking shall be included in the data system of vessels fishing in marine waters and a fishing vessel certificate of the Republic of Lithuania shall be issued to the undertaking if the undertaking complies with all the requirements specified in this Part:
1 ) the undertaking has submitted an application for the issue of a fishing vessel certificate of the Republic of Lithuania;
2 ) the operator owns or operates a fishing vessel on another legal basis;
3 ) the fishing vessel is registered in the Register of Seagoing Vessels of the Republic of Lithuania or in the Register of Inland Waterway Vessels of the Republic of Lithuania;
4 ) the undertaking has a valid permit for the ship to fly the flag of the State of Lithuania or a permit for the ship to temporarily fly the flag of the State of Lithuania;
[...]

Article 17 . Commercial fishing in marine waters:
[...]
2 . Operators have the right to engage in commercial fishing in marine waters, except for coastal fishing, only with a permit for commercial fishing in marine waters, issued separately for the operation of each fishing vessel of the Republic of Lithuania, and individual fishing opportunities, except in the case provided for in paragraph 9. Operators may engage in inshore fishing with the right to use fishing gear and a permit for commercial fishing in marine waters, issued separately for the operation of each fishing vessel of the Republic of Lithuania, except for Regulation (EU) No. The exemption provided for in Article 4 (5) of Regulation (EU) No 404/2011.
[...]"
(Law on Fisheries (27 June 2000, No. VIII-1756; last amended 15 April 2021), Articles 2, 13 and 17 [google translation])
Law on Merchant Shipping (12 September 1996, No.I-1513; last amended 19 December 2019), Articles 7 and 8
Law on Fisheries (27 June 2000, No. VIII-1756; last amended 15 April 2021), Articles 2, 13 and 17
[<a href="https://www.e-tar.lt/portal/lt/legalAct/TAR.38B0127A21E8/asr">Law on Merchant Shipping</a>],[<a href="https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/TAIS.104591/asr">Law on Fisheries</a>]