Lithuania Startup Visa 4 December 2019

This type of visa is specifically planned to select sustainable businesses in the field of technology. Business plans are evaluated by a group of business experts as well as immigration office officials. As this visa program is designed to attract investments in the fields of technology, biotechnology, information technology, mechatronics and laser technologies in Lithuania, only trade and service based business offers will be rejected. Business plans of the applicants will be evaluated based on innovation, sustainability, scalability and other criteria. In addition, investors can bring their families with them from the beginning.

This type of visa offers a one-year temporary residence permit and then it is renewed for the second year. At the end of the second year, the investor can follow the standard immigration process for a permanent residence permit. Although there is no special capital requirement for the visa, it must be proven that the investor has enough money to run a one-year business operation.

Lithuania uses an online application platform for Startup Visa applications. Thereafter, the entrepreneur is invited to a video conference, which lasts 30-60 minutes, with the participation of the experts from his or her business plan. This video conference is a critical step in visa application. Merely visa applications for real and sustainable business plans operated by talented entrepreneurs with necessary resources are accepted. Once the application is approved by the experts, the applicant receives a letter of support for the business plan and can obtain his or her temporary permission from the Lithuanian Consulate or the Immigration Department of Lithuania. Although there is no application fee, successful applicants must pay 114 or 228 Euros depending on the rapidity of the process to secure the temporary residence permit. The business must be commenced within 30 days from the applicant's arrival in Lithuania.

Unsuccessful applications can re-apply after developing their business plans.

Visa Program for Investors

Investors can obtain a residence permit of Lithuania by acquiring a Lithuanian company or by starting a new company. This company should undertake useful activities in Lithuania. There is a minimum capital requirement. The terms are as follows:

• The investor should be operating the company for at least 6 months before the application.
• The company must offer a business opportunity for at least 3 people in Lithuania.
• The applicant must be in a leading position in the company in Lithuania.
• The applicant must prove that he has a place to stay which meets the hygiene requirements and with at least 7 square meters of space for every person lives in this place.
• 28,000 Euros of capital investment should be made to the company and at least 14,000 Euros of this capital must be the own capital of the investor.

In case these conditions are fulfilled, the investor is given a one-year permit as the initial permit. If these requirements persist, the temporary residence permit may be renewed in every two year. At the end of five years, the applicant may apply for the permanent residence permit. If the capital of the company is 260,000 Euros and offers an employment opportunity to five residents in Lithuania, the residence permit is initially granted for three years and renews in every three years. At the end of ten years, the investor can apply for citizenship by fulfilling the following conditions:

• The applicant must be resided in Lithuania with a valid residence permit at least ten years before the date of application.
• The applicant must have the right to consistent residence in Lithuania. This requirement can be satisfied with a permanent residence permit.
• Applicant must pass the exam on Lithuanian constitution and language.
• The applicant must prove to have a legal source of income.
• Applicants must notify their intention in writing to renounce their previous citizenship.

Note: Since the income tax rate is 15% in Lithuania, Lithuania is in a more attractive position than the other EU countries.

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