Some of these companies are „hiding“ by changing their registration addresses, according to Verslo žinios. This has made it harder to find out who the beneficiary of the supplier is in public procurement. The list does not include the largest companies, which are registered in Cyprus, Switzerland or other countries.
A total of 175 Russian-owned companies operated in Lithuania last year, earning revenues of EUR 51.8 million. The number stood at 208 in 2022, with revenues of EUR 70.1 million.
According to Creditinfo data, the number of Lithuania-based companies with a 100% holding owned by Russian citizens are declining. Almost a hundred of such companies went bankrupt, were deregistered or liquidated last year. This year, 78 of them have already been deregistered, compared to 94 last year.
Most of them are small firms with the same person as their manager and owner, and are mainly engaged in wholesale trade.
Meat Line Trading, ServerMall, HQ Trade and CBT Vilnius were reported to have generated the largest revenue among Russian-owned companies based in Lithuania last year.