Politically exposed natural person (PEP)
PEP - a natural person who is or has been entrusted with prominent public functions and immediate family members or persons known to be close associates of such person. “Close associate” means a natural person who:
(1) participates in the same legal entity or maintains other business relationships with a person who performs or previously performed the prominent public functions;
(2) is the sole owner of the legal entity set up or operating de facto with the aim of acquiring property or another personal benefit for a person who performs or previously performed the prominent public functions.
“Close family member” means spouse, person in registered partnership (cohabitant), parent, brother, sister, child and child’s spouse or child’s cohabitant.
“Prominent public functions” means functions within the Lithuanian, European Union, international or foreign public authorities:
(1) the head of the State, the head of the government, a minister, a vice-minister or a deputy minister, a secretary of the State, a chancellor of the parliament, government or a ministry;
(2) a member of the parliament;
(3) a member of the Supreme Court, the Constitutional Court or any other supreme judicial authorities whose decisions are not subject to appeal;
(4) a mayor of the municipality, a head of the municipal administration;
(5) a member of the management body of the supreme institution of state audit or control, or a chair, deputy chair or a member of the board of the central bank;
(6) an ambassador, a chargé d’affaires ad interim, a special envoy and a minister plenipotentiary or a high-ranking military officer;
(7) a member of the management or supervisory body of a public undertaking, a public limited company or a private limited company, whose shares or part of shares, carrying more than 1/2 of the total votes at the general meeting of shareholders of such companies, are owned by the State;
(8) a member of the management or supervisory body of a municipal undertaking, a public limited company or a private limited company whose shares or part of shares, carrying more than 1/2 of the total votes at the general meeting of shareholders of such companies, are owned by the State, and which are considered as large enterprises in terms of the Law of the Republic of Lithuania on Financial Statements of Entities;
(9) a director, a deputy director or a member of the management or supervisory body of an international intergovernmental organisation;
(10) a leader, a deputy leader or a member of the management body of a political party.
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