UAB is a legal entity in Lithuania, abbreviated as Uždaroji Akcinė Bendrovė. It is a form of joint stock company with limited liability. UAB does not publicly participate in the market, and therefore does not require public shareholders. According to Lithuanian law, UAB must have at least one shareholder and one director. Unlike in other countries, foreigners can serve as directors of a Lithuanian UAB without the need for local residents. Additionally, UAB is not required to appoint a legal representative or company secretary. According to Lithuanian law, the minimum registered capital for UAB starts at 2500 euros. Verification capital refers to the funds that must be paid before company registration, and this also applies to UAB. Therefore, UAB needs to pay a minimum of 2500 euros before registration.