Lithuania is situated in Northern Europe and is one of the three Baltic States, alongside Lithuania and Estonia. The terrain of Lithuania is composed of lowlands and highlands and it has a humid, continental climate. Lithuania is also the largest economy among the Baltic States. Following independence from the Soviet Union, Lithuania underwent rapid reform and transformed from a centrally planned economy to an open market economy. During the late 20th century and early 21st century, Lithuania’s economy expanded and modernised rapidly. Positive growth rates resumed after the global downturn in 2010, albeit at a slower rate than before.
Important sectors in the Lithuanian economy include information and communications technology food processing, chemical manufacturing, furniture production, agriculture, financial services and tourism. Lithuania’s economy is rated highly inn terms of ease of doing business and economic freedom, and Lithuania is classified as a very high human development country in the Human Development Index. Lithuania is a member of the EU and the Schengen Area, and has been a member of the Eurozone since 2015.
Investors can receive a Lithuanian residency permit by forming a Lithuanian company or buy purchasing a Lithuanian company, as long as the company is involved in activities which are beneficial to Lithuania. It is possible to apply for permanent residency after 5 years, and citizenship is possible after 10 years.
The advantages of Lithuania as a residency solution are numerous. Lithuania is an excellent place to do business, with an excellent, multi-lingual workforce, a business-friendly government, and minimal red tape. It is one of the fastest-growing EU economies, and is ideally situated between Europe and Russia. Residents may travel around the Schengen area without a visa for stays of up to 60 days. Residency also gives the unrestricted right to work and study in Lithuania, as well as avail of social benefits. Family members may also accompany the investor to Lithuania, making it an ideal option for investors with families.