With market economy development, technology, globalization, more and more companies enter the international market, thereby expanding their capabilities and increase capital. Opening international business enables companies to gain access to other markets and attract new customers. For example, the market of the European Union has more than 500 million inhabitants, the highest wages and purchasing power, stable and attractive legislation for business development, high level of technological and social development. Lithuania is one of the European countries that is one of the best markets for doing business. And while recession is observed in many countries of the European Union, Lithuania shows strong economic growth.
The temporary residence permit in Lithuania may be issued to a foreigner who intends to continue to engage in lawful activities in the Republic of Lithuania.
New requirements for getting temporary residence permit in Lithuania (valid since 2018-03-27):
Doing Business in Lithuania has many advantages:
• Large developed market of more than 500 million inhabitants;
• Opened European market, which functions on the principle of free movement of goods, services, people and capital, that automatically eliminates issues about customs regulations, quotas, tariffs and fees in the European Union;
• Stable legislation that allows planning of your activities;
• Eligible fixed tax rates in Lithuania on income of individuals and entities that allow you to make great profit from doing business (for instance, income tax for companies is 15%, and if the company employs less than 10 employees and annual turnover amounts less than 1 million Litas, you can enjoy preferential tax, which is only 5% of the profit);
• Legitimate ways to reduce tax payments;
• The benefits of harmonization of indirect taxation in the European Union allows to choose the country, where you will pay Value Added Tax (VAT);
• Lithuania is one of the leading countries in reducing corruption as on the highest levels of authority, so on the administrative level, that naturally decreases the costs for doing business (absence of ” bribes “, ” kickbacks “, etc.)
• Availability of free economic zones in Klaipeda and Kaunas;
• Ability to get a bank credit on considerate conditions (from 11%);
• Opportunities to get support from the European Union for the development of your business in Lithuania.
Starting business you are entitled to get Residence permit in Lithuania for a year, with the right to get permanent residence permit after 5 years. This process is called business immigration.
For business immigration to Lithuania the procedure is simple and does not require huge investments, as in case of other countries of the European Union. Furthermore, the price for food, clothes, foodstuff are relatively lower and the tax system is more liberal than in other EU countries. The important thing is that having a residence permit in the Republic of Lithuania allows a foreigner to move freely to all countries of Schengen Zone. Moreover, setting business in Lithuania opens the whole market of the European Union: you are free to operate in any country of the European Union, choose the most attractive markets, buy real estate, cars, both for the needs of the business, and for own purpose.
Temporary residence permit in Lithuania – a document, granting a foreign citizen right for temporary residence in Lithuania. It is issued to foreign citizens, who are not citizens of 27 Members states of the European Union. It is usually issued for one year (at the end of the year may be extended for one year, and up to 5 years). For persons of Lithuanian origin and foreign citizens, who retained the right to citizenship of the Republic of Lithuania temporary residence permit is issued for five years.
The decision for temporary residence permit in Lithuania to foreign citizens is resolved by the Migration Department. An application for the first temporary residence permit is reviewed during 3-6 months from the date of the submission of the relevant institution, and application of a foreign citizen, who has permanent residence permit issued by European Union Member State within 4 months from the date of submission to the relevant institution.
Replacement of the temporary residence permit is considered not later than within two months from submitting of the application.
Permanent residence permit in Lithuania is the document, issued for foreign people or people without citizenship, which provides permanent residence for them in Lithuania.
Advantages of residence permit in Lithuania:
- First of all Lithuania has its perfect economic location. On one hand its neighbors are post-Soviet countries, on the other, the Nordic countries that had a significant impact on the historical development of Lithuania. In addition, the enormous benefits of Lithuania lies in its membership in the European Union, the Schengen agreement and many other agreements in the EU, which allows its citizens or persons with a residence permit to enjoy benefits of a common European market: opened borders for travelling, getting education, implementation of projects, cultural exchanges etc.
- Possession of residence permit in Lithuania greatly facilitates the process of getting a visa to such countries as the United States, Canada and United Kingdom.
- Moreover different historical facts and events influenced significantly on formation of tolerance to different cultures, languages and religions. A large number of the population speaks and understands Russian and English. This naturally gives everyone the opportunity to continue his/her usual life style being on the territory of Lithuania.
- In addition, it is important to admit that Lithuanian education meets all the requirements of European education with really high quality; it is able to develop the necessary competencies for your life. The important thing is that pre-school, school, special and higher education institutions propose studying not only in Lithuanian, but also in Russian, Belarusian, Polish and English languages. There are Belarusian, Russian, Polish, as well as international schools and high educational establishments that gives the opportunity for parents and children to choose the most pleasant educational institution.
- Furthermore, the Lithuanian health centers are famous for their highly qualified specialists with experience in the U.S., Israel, Germany, the UK, while the costs for medical services are relatively low.
– It is essential to mention that Lithuanian favorable environmental conditions are provided by the local peculiarities of nature, the availability of access to the sea and absence of large industrial enterprises.
We provide also the following services :
Our company offers services of immigration to Europe, mainly immigration to Lithuania, accounting services, assistance in obtaining residence permit in Lithuania, limited company registration. With help of EUROMIG consultants you can buy new limited company, sell company, buy ready made business, etc.
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