The Lithuania, officially known as Republic of Lithuania, is situated in the North Eastern part of Europe, located in the Baltic Region. It is largest, out of three Baltic states, bordered by Baltic Sea. Lithuania is surrounded by Belarus, Latvia, Poland and Kaliningrad Oblast, which is a Russian exclave. The Total land area of Lithuania is 65,300 square kilometers.
According to the census made in 2017, the total population of Lithuania is 2.8 million. It’s capital city is Vilnius, while some other major cities include Kaunas and Klaipeda. Lithuanian is the official language of the state, but along with this, there are some other recognized ethnic languages too. It’s national currency is Euro and system of government is unitary semi-presidential republic.
The Lithuania is located at the heart of Europe. Prior to the advent of worldwide financial crisis in 2007-2010, Lithuania enjoyed the best economy in the Europe. The state is also a member of the European Union, since 2004, North Atlantic Treaty Organization (NATO) and the Council of Europe (since 14th March, 1993). It joined the Schengen Agreement on 21st December, 2007.
Lithuania – from the perspective of residence
Lithuania is a place where foreigners can come and settle easily without facing any major problem. It’s because the country offers some outstanding benefits and perks for its dwellers. Some of the benefits are listed below:
The most appreciable fact about Lithuanian Education System is that education is free of charge. In addition to that, according to the National Law on Education, getting educated is mandatory from 6 or 7 years to 16 years of age. Students go through primary and basic education.
Children go through pre-schooling until the age of 5 or 6 years. Then they are promoted to pre-primary level for a period of one year, between the age of 5-7 years. After that, primary education takes four years to complete, for children aged 6-11 years. Then they go through Basic Education for 6 years between 10-17 years of age, and upon completion they receive a Basic Education Certificate. Upper secondary education longs 2 years and applies for the children aged between 16-19 years, which finalizes on Matura Examination, leading to tertiary education.
Out of 6 years of Basic Education, vocational and technical education starts at the 5th year for students aged between 14-15 years. These students go through upper secondary education as depicted, but in addition to Matura Examination (required for promotion to tertiary education level), vocational students must undergo an additional post-secondary education program of 2 years.
Tertiary education is divided in college and university. The difference is that colleges provide vocational studies and since 2006, have been awarding professional bachelors degree while universities provide academic studies, that leads to international Bachelors, Masters and Post-graduate degrees.
Academic year starts on 1st of September at every level of education.
Lithuania Start-up Visa
Lithuania promotes start-up ideas to get implemented in their region disregard to any religion, race and color. The Startup Visa is a new scheme that lets entrepreneurs (from Non-European states) to reside, invest and grow their business in Lithuania with the permission of the authorities. It is an immigration law that has been made to attract talent, innovation and ambitious minds from across the globe and help them establish grow their startups in European Union state and work for mutual benefits of themselves and the state.
According to the above-mentioned Visa Scheme, the self-employed expats can get permission to live and work in the country for a period of 1 year, which further can be extended for one extra year. After that, normal immigration processes apply. Family members can also accompany the start-up owner if there are any.
The scheme also provides relaxation, regarding the investment made and size of the start-up. There is no restriction to invest a certain amount of capital and no minimum number of employees is required.
Start-up Visa Application Procedure:
Majorly, there are two main steps in getting a Lithuanian start-up visa.
Cost of Application
The startup visa application is free, while the fee for temporary residence permit is 114-228 EUR depending upon the type of service requested.
Extension in the Temporary Residence Permit
To extend the temporary residence permit for another year, one has to submit the progress report of Startup and a long-term business establishment plan. This should be done before the current permit reaches its expiry limit.
The assessment committee will then evaluate the business status and check if applicant is eligible for further extension in residence permit or not. This depends upon the operation of the startup during it’s 1st year and the long-term plan presented.
In case, applicant wants to stay beyond 2 years of the firms’ operations, normal migration processes and conditions will be applicable then.
With a startup visa, one can not only reside and work in Lithuania but can also avail numerous benefits that come with living in this country.
Several startups have been initiated under the Startup Visa Scheme in Lithuania. There has been increase in the number of applications from China, Turkey, Belarus, USA, India, South Korea and Ukraine.
Stephen M.S Lai & Co CPA Ltd. is a professional firm that helps in Startup Visa application process. The Startup Visa is a talent attraction program, that offers a smooth and simple entry process to the startup ecosystem in Lithuania for gifted non-EU, non-EEA startup founders to establish, develop and grow in the profitable international community.
The Startup Visa Scheme offers flexibility and welcomes creativity. There is not any capital, minimum number of employees’ requirement. If your idea gets approved by the committee, you can apply for the residence permit on that basis.
You can start by filling the online application form, taking the online interview as a part of application, get your idea approved and then apply for the temporary residence permit on the basis of which you can start your business.
You should not worry at all. It is a lot easier than it seems. Stephen M.S Lai & Co CPA Ltd. will help you along the way. Get in touch with us for more information.