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A Residence Permit for businessmen

A Residence Permit for businessmen

One of the most frequently used bases for issue a Residence Permit in Lithuania is execution of lawful activities in Lithuania.

If a foreigner plans developing his (her) business in Lithuania and to reside here on the said base, he (she) may establish or buy an enterprise in Lithuania and develop the planned business, to buy an enterprise with a developed business or to establish a representative office or a branch of a foreign enterprise in Lithuania.

In case of establishing or buying of an enterprise, the alien who is a participant, a shareholder or a member of a governing body of the established or acquired enterprise may apply for issue a Temporary Residence Permit in Lithuania, if the following are satisfied:

1. The Lithuanian enterprise is engaged in its activities for at least 6 months prior to the application for issue a Residence Permit in Lithuania;
2. The equity of the enterprise to no less than 28’000 EUR, including 14’000 EUR invested by the alien;
3. The value of shares owned by the alien forms at least 1/3 of the value of shares of the enterprise;
4. In Lithuanian company full-time work Lithuanian, other European Union Member State or European Free Trade Association Member States citizens or aliens permanently residing in Lithuania, whose monthly wage (of all staff) - no less than 2 average monthly wages in Lithuania.

The process of establishment of an enterprise includes the following phases: collection of the required data and documents; reservation of a name of the enterprise; preparation of documents; opening an accumulation account at a Lithuanian bank and formation of the Authorized Capital, notarization of the documents; incorporation of the enterprise by its registering in the Register of Legal Entities. The process of acquisition of an existing enterprise is sooner and requires less investments; the Authorized Capital of such an enterprise is formed already. A Power of Attorney is required both for establishment or acquisition of an enterprise.

Acquisition of an enterprise with business is more convenient, because an alien may acquire an enterprise involved in well-developed business, having experience, capital and employees. In addition, it is one of the soonest ways for obtaining a Residence Permit in Lithuania on the base of involvement in business. The business object may be selected according to the needs and wishes of a client as well as the criteria provided by the client.

In case of establishment of a representative office or a branch of a foreign enterprise, a director or a specialist of the representative office or the branch shall be entitled to apply for issue a Temporary Residence Permit in Lithuania, if:

1. He was employed at the enterprise that establishes its representative office or branch for at least 1 recent years.
The professional knowledge and qualification of the foreigner are required for the activities of the representative office or the branch.

2. Obtaining a Residence Permit in Lithuania on the base of employment at a representative office or a branch of a foreign enterprise may be considered the cheapest way for obtaining a Residence Permit in Lithuania for a person and his (her) family members.

More detailed information on the business immigration opportunities, process, procedures and conditions is provided in the below-listed business immigration programmes.

Business imigration programmes include:

The immigration programme "InvestavimasI" (“InvestmentI”)

The immigration programme "Atstovybė, filialas, dukterinė įmonė" (“A representative offise, a branch or a daughter enterprise”)

The immigration programme "Šeimos verslo imigracija" (“Family business immigration”)

 

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