Here are some key points about business immigration to Lithuania: let’s describe the main facts on business immigration to Lithuania:
Immigration program
This country has a successful business and investor immigration program in that more entrepreneurs, investors, and start-ups are permitted temporary residence permits when they settle or establish companies in Lithuania.
Start-ups rates
Investors are welcome to join the investing pool with €13,500 to €280,000 investment range for innovative startups or real estate and business operations. Implementing the measure of a lower threshold of investment funding in the investment projects in priority economic sectors will encourage projects that have small investment costs.
Residency permit
Investors can receive a residence permit in the interim for 2 years, with the option of extending it during the 2 years. That also can be demonstrated for 2 next years if the business activity has the same pattern. After having completed a 5-year term a permanent residence can be obtained.
A one-year residential VISA would be an option for entrepreneurs and team members, if they have access to startup funding from a private Lithuanian fund or the accelerator program has accepted them. The renewal visa would be available to the applicant.
To do this, investors have to certify that the investment funds and business plan are real and that they will be able to bring them into the country. Immigration authorities are the ones to whom they have to prove this. The example could contain such things as financial statements, business analysis and experience, education and qualification certificates.
Businesspeople and highly skilled individuals should pay 5-20% of personal income tax if they want to benefit from such an option in Lithuania. The benefits that come up with this are that one doesn’t need any visa formalities to travel inside the EU Schengen area.
Business immigration itineraries
Lithuanian business immigration follows the same route as Latvian one, yet they share differences in their requirements and regulations. Here’s an overview:
Choose your business structure
Choose among the types of businesses that you can register in Lithuania. The possible forms range from a sole proprietorship, a partnership, and a limited liability company (UAB) or a foreign company’s branch office.
Meet investment criteria
This nation provides different options for business immigration investment; you can invest in a new or existing company in Lithuania, buy real estate or just contribute to the country’s economy in other ways.
Meet financial requirements
Prove that you have a good income and that you’ll be able to provide for yourself and your family in Lithuania. The exact amount will be influenced by your particular situation and the kind of immigration program you want to go for.
Apply for a residence permit
Apply for a residence permit at the Lithuanian Migration Department via the web portal or any of the offices. This is often the case when everyone must disclose personal information, business plans, and documentation of financial capability.
Submit documents
You need to prepare as well as submit the required papers for your residence permit application. Those are your passport, proof of investment funds, business plan, proof of accommodation in Lithuania, and any other documents that may be needed for getting a visa.
Wait for approval
The processing time of the residence permit applications is different for everyone, and it might take several months. Meanwhile, the Migration Department will be processing your application and potentially carrying out interviews or background checks if necessary.
Arrive in Lithuania
Once you will receive the residence permit approved you are free to come to Lithuania within six months and start your own business or make investments.
Renew your residence permit
Lithuanian residency permits are usually granted for a temporary period only and it is possible to have them extended upon arrival to the country. Make sure you are aware of the expiration date of your residence permit. Then, in case you would like to remain living in Lithuania, you should submit a renewal application in time.
Take away
Overall, Lithuania does have the chance to be considered as one of the countries where people can get permanent residency just by investing moderately huge amounts of money. This also makes the country worth considering by the international mobile businesspeople and investors.
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