Business Immigration to Lithuania

2021-10-04 / BY Teisines / IN Migration services

Business Immigration to Lithuania

The most popular and reliable way to immigrate to European Union is getting residence permit in Lithuania on the basis of company set-up in Lithuania or purchase of the company in Lithuania.

As of January 2008 Lithuania has become the part of the Schengen Area, a group of more than twenty-five European countries which have abolished all border controls between each other. Since then the interim work and residence permittees of this country have the right to travel over Europe visa-free. Consequently, there has been a growing demand in company formation and immigration services in recent years.

Like in other European countries Lithuania has legislation that governs the terms and provisions of business immigration for the foreigners who are willing to set up an entity and therefore to be engaged in lawful business activity in the country.

The term business immigration refers to the formation of the company in Lithuania and obtaining a temporary residence permit that has to be revalidated each year within 5 year period till a person acquires permanent resident ship in Lithuania and correspondingly in Europe.

Furthermore, being a resident and a company owner a foreign person acquires the right to purchase immovable property and estate in land.

Temporary residence permit in Lithuania – a document granting a foreign citizen right for a temporary residence in Lithuania. It is issued to foreign citizens, who are not citizens of 28 Members states of the European Union. It is usually issued for one year (at the end of the year may be extended for one year, and up to 5 years). For persons of Lithuanian origin and foreign citizens, who retained the right to citizenship of the Republic of Lithuania temporary residence permit is issued for five years. The decision for a temporary residence permit in Lithuania to foreign citizens is resolved by the Migration Department. An application for the first temporary residence permit is reviewed during 2-4 months from the date of the submission of the relevant institution, and application of a foreign citizen, who has a long-term residence permit in Lithuania issued by European Union Member State – within 4 months from the date of the submission of the relevant institution. Replacement of the temporary residence permit is considered not later than within two months from the lodging of the application. Permit for a long-term residence in the Republic of Lithuania to reside in the European Community (permanent residence permit) – a document entitling an alien to reside in the Republic of Lithuania and certifying the alien’s permanent resident status.

Residence permit team offers services of immigration to Europe, mainly immigration to Lithuania, assistance in obtaining residence permit in Lithuania, limited company registration, assistance in buying companies, selling companies, accounting services, assistance in buying readymade business etc.