Bank of Lithuania

The undertaking for collective investment in transferable securities (hereinafter UCITS) established in another Member State or third country that meets the requirements of EU Directive 2009/65/EC (hereinafter - Directive) may start marketing its units or shares in the Republic of Lithuania only after the supervisory authority of the home Member State or third country of such UCITS notifies the UCITS that the notification letter about its intention to market units or shares as well as other necessary documents have been communicated to the Bank of Lithuania in the manner established by Regulation Nr. 584/2010 (hereinafter – Regulation). This procedure is further specified in the Procedure on Marketing of Units and Shares of Harmonised Undertakings for Collective Investment (52.5 KB ) approved by the Bank of Lithuania.
Marketing of units and shares– activities of UCITS or its management company, whereby they offer, sell or otherwise market the units of such UCITS to investors on their own or investor’s initiative.

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  1. Requirements for the notification

UCITS or its management company intending to market units of UCITS in the Republic of Lithuania shall submit to its competent authorities the following documents:

  • the notification letter prepared in accordance with Annex I of the Regulation;
  • the fund rules or instruments of incorporation of UCITS, its prospectus, its latest annual report and any subsequent half-yearly report (if applicable);
  • the key investor information document.

Part B of the notification prepared according to Annex I of the Regulation shall be used to provide additional information about the agent(s) marketing in the Republic of Lithuania the units or shares of UCITS established in another Member State or third country, expiration date of applications for the acquisition and redemption of units of the UCITS, amounts of purchase, sale and exchange fees directly applicable to the investors of the Republic of Lithuania.
The supervisory authority of the home Member State or third country of UCITS shall transmit to the Bank of Lithuania the documents referred to above as well as an attestation that the UCITS fulfils the conditions imposed by the Directive.
The key investor information document shall be prepared in the Lithuanian language, other information and documents – either in the Lithuanian or English language.


  1. Submission of documents to the Bank of Lithuania

The notification letter and other annexed documents and translations shall be submitted electronically in pdf, doc or docx format.
The supervisory authority of the home Member State or third country of UCITS shall transmit the documents to the Bank of Lithuania to the e-mail address: [email protected].
The e-mail shall be transmitted with the title: “Sender_LT_UCITS name_ISIN code_part No”, where:

  • Sender – code of the home Member State or third country of UCITS according to ISO 3166-1-alpha-2;
  • ISIN code shall be specified if the UCITS established in another Member State or third country has ISIN code. Where, due to several different classes and (or) series of units of the UCITS established in another Member State or third country, the given UCITS has several ISIN codes, this code shall not be specified in the heading of the e-mail;
  • part No – number designating a part of the composite e-mail (to be specified in cases of transmitting a composite e-mail).

The maximum size of the e-mail with attachments shall not exceed 30 MB. The documents attached should always be zipped with ZIP or RAR. If this measure is not sufficient, files should be split into multiple zip volumes (i. e. multiple e-mails). E-mail encryption should not be used.


  1. Commencement of marketing

UCITS or its management company may start marketing units or shares of the UCITS in the Republic of Lithuania as of the date when the supervisory authority of home Member State or third country of UCITS notifies the UCITS or its management company that the notification letter and the documents referred to above have been delivered to the Bank of Lithuania.


  1. Requirements for marketing

Marketing of units or shares of UCITS may be performed in the Republic of Lithuania only by the following entities:

  • credit institutions entitled to provide investment services in the Republic of Lithuania;
  • investment brokerage firms entitled to provide investment services in the Republic of Lithuania or financial adviser companies licensed in the Republic of Lithuania;
  • investment management companies entitled to provide services in the Republic of Lithuania.

The UCITS established in another Member State the units or shares whereof are marketed in the Republic of Lithuania or its management company must communicate to investors of the Republic of Lithuania all information and documents that have to be submitted to investors in its home Member State or third country according to the requirements of legal acts of its home Member State. The UCITS established in a third country or its management company must communicate to investors of the Republic of Lithuania all information and documents that have to be submitted according to the requirements of Section Two of Chapter II of the Law on Collective Investment Undertakings.


  1. Requirements for advertising

Requirements for UCITS advertising are set out in the following laws:


  1. Changes to notification documents

The UCITS or its management company shall notify to the Bank of Lithuania any updates or amendments to the notification letter and other submitted documents (see Paragraph 1) by e-mail to the address: [email protected] and shall indicate where those documents can be obtained electronically.
The UCITS or its management company may describe in the e-mail referred to in this paragraph any updates and amendments that have been introduced to the respective document, or attach the latest version of such document to the e-mail. All documents attached to the e-mail must be submitted electronically in pdf, doc or docx format.


  1. Termination of Marketing

The procedures regarding termination of marketing of units or shares of UCITS in the Republic of Lithuania are set out in Article 121 of the Law on Collective Investment Undertakings.

Links to relevant regulations:

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Last update: 07-08-2018