One of the most common grounds for issuing a residence permit in Lithuania is doing business in Lithuania.
If a foreigner plans to develop his business in Lithuania and reside here, he can establish or buy an enterprise in Lithuania and develop the planned business.
In case of foundation or purchase of an enterprise, a foreigner who is a participant, shareholder or member of the management body of the enterprise being created or acquired, may apply for a temporary residence permit in Lithuania, under the following conditions:
- A Lithuanian company has been operating for at least 6 months before applying for a residence permit in Lithuania;
- The authorized capital of the enterprise is not less than 28,000 euros, including 14,000 euros invested by the foreigner;
- The value of shares owned by a foreigner is at least 1/3 of the value of the company’s shares;
- Citizens of Lithuania, other member states of the European Union or member states of the European Free Trade Association or foreigners permanently residing in Lithuania work in a Lithuanian company on a permanent basis, the monthly salary (of all employees) is at least 2 average monthly salaries in Lithuania.
The company formation process includes the following steps:
- collection of necessary data and documents;
- reservation of the company name;
- preparation of documents;
- notarization of documents;
- opening a savings account in a Lithuanian bank and formation of the authorized capital;
- registration in the register of enterprises.
The process of acquiring a working enterprise is faster and requires less investment. The authorized capital of such an enterprise has already been formed.
Acquisition of an enterprise with a business is more convenient, since a foreigner can acquire an enterprise that is engaged in a well-developed business with experience, capital and employees.
In addition, this is one of the fastest ways to obtain a residence permit in Lithuania based on participation in a business. The business object can be selected according to the needs and wishes of the client, as well as the criteria provided by the client.
- Application for a temporary residence permit in the Republic of Lithuania;
- Travel document (passport);
- A copy of the passport of all pages with stamps;
- A valid visa;
- One photograph (40 x 60 mm);
- Documents confirming the basis for granting a temporary residence permit (balance sheet for the last 6 months, the right to profit and loss for the past and preliminary year, bank statement, contracts with partners, invoices);
- A document confirming the availability of sufficient funds and (or) receipt of regular income for living in the Republic of Lithuania;
- Document confirming the place of residence in the Republic of Lithuania;
- Certificate of good conduct;
- Health insurance;
- List of trips and cases of residence in foreign countries;
- Business plan.
For more detailed information, please contact the Finance Business Service specialists.