When deciding on the best location for a second residency or citizenship, most investors look for a fast process, financial and business advantages and excellent access to international travel and trade. As a member of the EU with one of the lowest costs of living in Europe, Lithuania ticks these boxes and more.
Situated in the northeast of the continent, Lithuania opens the door to easy international travel, access to vast international markets and an affordable base away from your country of origin. So, if you’re looking to secure European residency, here’s why Lithuania could be the perfect choice.
Section 1: Overview of Lithuania’s residency program
Successful applicants for the Lithuanian residency-by-investment programme are free to live, work and study in the country indefinitely, as well as travel freely throughout the Schengen Area. Family members can also be included on visa applications, extending these privileges to your spouse and any dependent children.
Lithuanian residency permits can be obtained in return for long-term investments in the country’s economy. Permits can be renewed annually for up to five years, assuming all eligibility criteria are met during that time. After five years, you are eligible for permanent residency.
While Lithuania does not offer a standalone citizenship by investment programme, you will be eligible to apply for full citizenship after five years of permanent residency.
Section 2: Eligibility criteria
To qualify for Lithuanian residency, you must either:
Establish or invest in a Lithuanian company within specialised industries. To qualify for this route, you must provide evidence that you have adequate funds to sustain business operations for at least 12 months.
Or:
Form a new company in Lithuania and apply for a business visa. Businesses must remain in operation for at least six months before you are eligible to apply for a residence permit.
Whichever pathway you choose, you must be in good health with a clean criminal record at the time of your application. You may also be required to prove that you will not be a burden on the country’s civic and social services during your time as a resident.
You will also need to take out an eligible health insurance policy and have a place of residence in Lithuania.
Section 3: The Application process
When you work with Knightsbridge to obtain your Lithuanian residency, our expert team will guide you through the following four-step process:
Step 1: Due diligence and eligibility checks
Your Knightsbridge contact will check that you are eligible for the program and ensure your documents are all in order for a fast and smooth application process. This will include a review of your proof of funds, police and health checks and AML requirements.
Step 2: Company registration or investment
Depending on your preferred residency pathway, you must either register a new Lithuanian company or invest in an existing business.
Once your business meets the eligibility criteria, you are ready to apply for your residency permit.
Step 3: Submit application
With the help of our immigration lawyers, we will submit your application and accompanying paperwork to the Lithuanian authorities for approval.
Step 4: Residency permit
Once all stages are complete, you will receive your Lithuanian residency card. This is usually issued between two and six months of your application.
Section 4: Benefits of Lithuania’s residency program
As a resident of Lithuania, you will benefit from:
Easy access to the EU
Lithuanian residency allows you to trade and invest freely within the world’s largest economic zone. This means uninterrupted movement of goods, services and capital throughout the EU.
International freedom
Freedom to travel without a visa across all EU states and free travel in the Schengen Area for up to 90 days in every 180-day period.
Fast application process
In some cases, you can be a resident in Lithuania within just two months.
Low tax environment
Lithuania levies one of the lowest corporate tax rates in the world, ranging between 5% and 15%.
Family rights
All family members included in your application have the right to reside, work, and study in Lithuania for the duration of your visa.
Business opportunities
Lithuania is one of the fastest-growing economies in the EU and ranks 11th in the World Bank Doing Business Index.
Safety and security
Lithuania is a safe, peaceful and politically stable European nation. It makes for the perfect home from home should you need to relocate from your country of origin.
Path to citizenship
After five years of residency and five years of permanent residency, you are eligible to apply for full EU citizenship.
Section 5: Investment Options
When applying for Lithuanian residency, you have two investment options.
Option 1: Start-up visa
This requires you to register a new business in the country within nanotechnology, biotechnology, electronics or a similar field. While there is no set capital requirement, you must satisfy immigration authorities that you have adequate funds to meet the goals outlined in the first year of your business plan.
Option 2: Business visa
To qualify for this route, you must establish a business in Lithuania with capital of at least USD 31,000. You must also employ at least three Lithuanian nationals or permanent residents, paying an average Lithuanian salary.
Why Work with Knightsbridge Group?
Lithuania offers a swift, convenient, affordable route to numerous business, travel, and lifestyle benefits. Upon securing your residency permit, you and your family gain immediate access to visa-free travel across the EU, European healthcare and education facilities, a modest cost of living and unfettered access to international markets.
Given these enticing benefits, entrusting your application to an expert in the field is always a good idea. At Knightsbridge Group, we possess a deep understanding of the complexities involved in the residency and citizenship by investment processes.
With extensive experience in immigration services and a specialisation in securing greater freedoms through strategic investments, we serve as your ideal partner in attaining greater global mobility for you and your loved ones.
Reach out to our team today to start the application process.
