The Lithuanian Centre of Registers has created a draft allowing the creation of virtual limited liability companies (VLLCs) working on blockchain technology. The draft, which would allow VLLCs to enter financial markets in 2019, is supported by the Bank of Lithuania. Such companies would be permitted to operate remotely, which Invest Lithuania analysts said would be of interest to institutions in the Singapore, US, Israel and other locations, that may be looking to launch a European subsidiary.
The Lithuanian Centre of Registers has created a draft allowing the creation of virtual limited liability companies (VLLCs) working on blockchain technology. The draft, which would allow VLLCs to enter financial markets in 2019, is supported by the Bank of Lithuania. Such companies would be permitted to operate remotely, which Invest Lithuania analysts said would be of interest to institutions in the US, Singapore, Israel and other locations, that may be looking to launch a European subsidiary.