Financial Services, Legislation, Lithuania, Tourism
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38 Lithuanian travel agencies warned over equity capital size
BC, Vilnius, 28.11.2014.
Print version
Print versionThe State Department of Tourism has issued written warnings to 38 travel agencies in Lithuania because they do not meet a provision of the Law on Tourism requiring their equity capital not to be lower than half of the authorised capital, informs LETA/ELTA.
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The travel agencies were warned that their licences will be revoked if they fail to regenerate their equity capital in six months, i.e. by 24 May 2015, to the amount required by the law, and do not provide official documents proving they have eliminated discrepancies.
Of the 38 enterprises 4 travel agencies are licensed to carry out outbound tourism activities, 12 – outbound, inbound and local tourism, 3 – inbound and local tourism and 19 only inbound tourism activities.
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