Lithuania is the biggest of the three Baltic States, and is well positioned geographically as a doorway from Eastern to Western Europe, with Sweden and Norway to the west and Latvia to the north. It is considered to be the economic heart of the Baltics. It became a Schengen member state in 2007 which serves to feed the already successful, liberal business market.
Requirements of setting up a company in Lithuania with the purpose of immigration
One way to obtain a residency permit in Lithuania is to establish a Private Limited Liability company, which requires a registered share capital of €14,600. In order to establish your company, a Director and any accompanying employees must travel to Lithuania in order to sign documents with the Notary and form the bank account, along with submitting the application for a Temporary Residence Permit (TRP).
It is important to note that we do not provide invitation letters; the client must make their own arrangements for the visa which will be required when they set up the company and start the residency process.
For a successful application:
- You should have at least €15,000 in your bank account within your own country. This money will not be used and is simply to prove to the migration department that you will be able to start a business. We recommend that you have at least €20,000 as this will enhance your application
- You should have sound knowledge of English or Russian: this does not involve a test, but you will need to be interviewed by the migration department. During this interview, you will need to prove that you are engaging in business in Lithuania, and provide some details.
- You should have proof of active business in your own country. This is not mandatory but again, enhances your application.
Temporary Residence Permits in Lithuania give you the following rights:
A TRP is valid for one year and can be renewed an indefinite number of times, providing the client is performing business activity and pays taxes in Lithuania.
If you are interested in starting a business in Lithuania, please get into contact with us at [email protected] and we will assist you with your enquiry.