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Lithuania Temporary Residency Program
Lithuania is one of the three Baltic countries in Europe that is known for business environment, infrastructure, cost of living, lifestyle and innovation and R&D. Lithuania Temporary Residency Program is residency pathway for business professionals which is also referred to as a Golden Visa program that allows foreign nationals to enter the country, open a business, support the economy and receive permanent residency or EU Citizenship. If you are willing to start a new business or purchase an existing business in Lithuania, then you can apply for this pathway.
Lithuania Temporary residence permit is issued for one, two or maximum three years which can be renewed for as many years as you need such as 5, 10, 15 or 20 years. If you wish to obtain Lithuania permanent residency, then you need to live in the country for five years as a Temporary resident.
Lithuania Temporary residence permit is issued for one, two or maximum three years which can be renewed for as many years as you need such as 5, 10, 15 or 20 years. If you wish to obtain Lithuania permanent residency, then you need to live in the country for five years as a Temporary resident.
- BENEFITS
Lithuania Permanent Residency Benefits
- You can attain Lithuania permanent residency through the program by residing in the country for 5 years without paying the hefty investment amount
- You can travel throughout the EU Schengen Zone and EU member countries, even with your temporary residency permit
- Under this pathway, you can work in Lithuania without any restrictions
- Your complete family members can move to Lithuania with you protected under the program
- Lithuania is blessed with business opportunities that will propel investment activities, business acquisition and new company formation
- You are entitled to receive the same privileges as Lithuanian citizens such as medical care, maternity benefits, unemployment benefits, and other social privileges
- It is one of the cheapest countries in Europe with very reasonable pricing for accommodation, groceries, transportation and minimal business expenses
- For kids, education is mostly free in the country. Students with good grades in high school can get fee education in university or college.
Temporary Residency Program Process
- Arrange and prepare all the documents required for Lithuania Temporary Residency Program
- Research on the business opportunities in Lithuania and look for the prospects on starting or buying a business
- Submit the approved documents with the specific country embassies for a Temporary Residency permit.
- Visit Lithuania in finalizing a business and Company registration
- After 6 months of successful operation of business, submit residence permit application forms to migration department
- The Migration Department will review your documents and grant approval for your TRP.
Eligibility Requirements
- Applicants must setup a company or purchase an existing company in Lithuania. Business can have up to three shareholders and one director.
- Lithuanian company must generate employment for minimum 1 Lithuanian Citizen with a salary not less than two average salaries of Lithuania which is EUR 890
- Lithuania Company must have minimum EUR 28,000 value of share capital
- Each shareholder must own minimum EUR 14,000 of share value
- Applicant should have a leading position in the Lithuanian company
- Investor must have a place of residence (an apartment or a house) that meets hygienic requirements in Lithuania
- The investor should run the Lithuanian company for minimum 6 months in order to apply for Lithuania residence permit
Documents Required
- An electronic application (Lithuanian Migration Information System MIGRIS)
- Valid Passport
- 1 photograph (40×60 mm)
- Documents confirming the reason for issuance of temporary residence permit
- Proof of funds in order to stay in Lithuania
- A document on place of residence in the Republic of Lithuania
- Clean character record or criminal record.
- Purchase of health insurance plan (insurance coverage 6,000 EUR);
- Travel history (stays in foreign states)
- Documents confirming legal stay if application is submitted in Lithuania.
Processing Time And Fees
Prior to submitting the Lithuania Temporary Residency Permit application, you need to pay EUR 86 state fee (EUR 172 for urgent processing). The fees for the Issuance of temporary residence permit in general order costs around EUR 28 (EUR 56 for urgent processing).
You can attain the application submission and approval of the temporary residence permit within 4 months. And, if you wish to apply on an urgent basis, you may speed up the application process within 2 months for an extra fee mentioned above. On some instances, temporary residence permits are issued faster than normal.
How Abhinav can help you for Lithuania Temporary Residency Program:
With 26 years of legacy in Business Immigration market, we at Abhinav are renowned for providing legal advice on investment, application process, documentation, down to the smallest detail, etc. We have exceeding in catering our client’s needs straight out of our local knowledge of the market and understanding of political and cultural sensitivities. Lithuania application process is executed with professional help of experienced team of documentation experts to navigate through the complex documentation requirements and legal process.
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