Many entrepreneurs from foreigner countries are interested in Europe as a business environment, but how to choose the exact country to start your business in? In this article we highlight Lithuania and bring out the reasons making Lithuania stand out.
Lithuanian government has a strong emphasis of creating new jobs and therefore they are happy to support businesses who are planning to grow using Lithuanian specialists, using Lithuania to enter the rest of EU market and the businesses planning to export.
Lithuanian companies are often used for trade, development of manufacturing, international transportation, IT, medicine, financial services and for many other activities. They are popular due to the low costs of accounting and administration, low taxes and good geographical position. But that’s not all. We would like to point out several reasons what makes Lithuania so attractive in the eyes of foreigner entrepreneurs.
- Lithuania is a member of EU and NATO
- Lithuania is a part of the Eurozone
- Stable, west and business-oriented government
- You are likely to be understood in Lithuanian, Russian, English, often also in Polish
- Lithuania has concluded agreements with many countries on avoiding of double taxation, therefore, there is a possibility of payment of dividends without tax
- There are four international airports
- Lithuania is a country with relatively inexpensive labour, low price level and no exchange controls
- Lithuania is one of the leaders in the ranking of the worlds freest economies on the ease of starting a business, as well as one of the leaders in Europe according to the index of investment attractiveness.
However, Lithuania is not going to stop there. Lithuanian government has launched a start-up visa for entrepreneurs from other countries who want to do business in Lithuania. It is designed for innovative entrepreneurs wishing to establish a start-up in Lithuania. They no longer need to fulfill certain capital or employment requirements to obtain a residence permit. If the business idea is approved by the panel of experts, it is a basis to apply for a temporary residence permit.
In conclusion, Lithuania is a convenient and inexpensive jurisdiction to register a company in and to do business with good development prospects.