Lithuania is becoming an increasingly attractive country for foreign entrepreneurs seeking to expand their activities within the European Union. One of the opportunities for foreigners to establish themselves in Lithuania is to obtain a temporary residence permit on the basis of business.
Main requirements for the company
In order for a foreigner to apply for a temporary residence permit in Lithuania, their company must meet the following criteria:
- company for at least 6 months prior to the date of submitting the application must have been carrying out activities in Lithuania according to its business plan and must have complied with the requirements listed below during the entire period.
- The company must employ full-time citizens of Lithuania, other EU or EFTA countries, or foreigners permanently residing in Lithuania. The total monthly salaries paid to these employees must amount to at least 2 times the national average gross monthly wage (according to the most recent data published by the Lithuanian Department of Statistics).
- company's equity capital must be no less than EUR 28,000.
Requirements for the foreigner
A foreigner applying for a residence permit on the basis of business must be either:
- the company’s director and a shareholder holding at least 1/3 of the company’s share capital);
- or a shareholder holding at least 1/3 of the company’s share capital).
In addition, a minimum investment is required:
- In the case of a private or public limited liability company (UAB/AB) – to hold shares with a nominal value of at least EUR 14,000.
- In the case of a sole proprietorship (IĮ), small partnership (MB), or general partnership (TŪB) – to make a contribution (in cash or other assets) of at least EUR 14,000.
Validity of the permit
The temporary residence permit on the basis of business is issued for a period of 2 years. After this period, it may be extended if both the company and the foreigner continue to meet the legal requirements.
Our law firm provides legal advice to foreign nationals and companies on all matters related to obtaining residence permits in Lithuania, preparing the required documents, and ensuring compliance with legal requirements. If you are interested in a detailed consultation, please contact our team.