If you wish to obtain PR status, learning about the Lithuania Business Investment Migration Visa is what you must focus on.
Located in Europe, Lithuania is a Baltic country that has gone through a series of changes. Since its independence in 1990, this fantastic nation has been booming as one of Europe’s financial leaders. With some picturesque beauty to behold, Lithuania is gradually emerging as a perfect destination to immigrate to owing to its striking geographical location and gateway to Europe.
What is Lithuania Business Investment Migration Visa?
Lithuania Business Investment Migration Visa is issued for individuals who enter the country to participate in business-related activities. The permit is a subcategory of the Schengen C Visa, which is also known as the Lithuania Schengen Business Visa.
This visa can be issued as a:
- Single-entry type
- Double-entry type
- Multiple-entry type
However, citizens of other Schengen countries and from visa-exempt nations do not require a permit to enter Lithuania.
Benefits of Lithuania Business Investment Migration Visa
Lithuania Business Investment Migration Visa can provide you with many benefits, including:
- You can obtain permanent residency in Lithuania through the program by living in the country for five years without having to pay a hefty amount for investment
- You, under this pathway, can work in Lithuania without any restrictions
- You can always travel throughout the EU Schengen Zone and EU member nations. You can do so even with your temporary residence permit
- Your entire family can move to the country accompanied by you protected under the program
- You are entitled for receiving the same privileges as citizens of Lithuania, including maternity benefits, medical care, unemployment benefits, and other social privileges.
- Lithuania is immensely blessed with lucrative business opportunities that will propel investment activities, business acquisition, and the formation of a new company
- It is one of Europe’s cheapest countries with affordable pricing for groceries, accommodation, transportation, and the least business expenses.
- Education is mostly free of cost for kids. Students with good grades in high school can get an education without having to pay anything in college or university
Eligibility Requirements for Lithuania Business Investment Migration Visa
Below mentioned are the eligibility criteria you must consider for this visa:
- Applicants are required to set up a company or acquire an existing company in Lithuania. A business can have one director and up to three shareholders.
- The company should have a minimum €28,000 value of share capital
- Each shareholder is required to own a minimum €14,000 of share value
- The company should generate employment for a minimum of one Lithuanian national with a salary not less than 2 average salaries of the country, which is €890
- Applicant must have a top position in the Lithuanian organization
- The investor is required to run the company in Lithuania for a minimum of 6 months to apply for a residence permit in the country.
Documents Required for a Lithuania Business Investment Migration Visa
Here is a list of documents you require for the Lithuania Business Investment Migration Visa:
- A valid passport
- One photo
- Documents that confirm the reason for issuance of a temporary residence permit
- An electronic application (Lithuania Migration Information System MIGRIS)
- Evidence of funds to stay in Lithuania
- Clean criminal record or character record
- Travel history (stays in foreign states)
- Health insurance plan purchase (insurance coverage €6000)
- Documents that confirm lawful stay (if the application is submitted in Lithuania)
How to Set Up a Company in Lithuania
Here are some vital steps you must consider when setting up a company in Lithuania:
- Investment requirements start from only €14,000
- Residence permit obtained in under 2 months
- All family members can relocate together
- Apply for a PR (Permanent Residency) after five years. You can access more of the EU benefits
Processing Time for a Lithuania Business Investment Migration Visa
The time it takes to process the application depends on a lot of factors. Some of them include:
- The entry type
- The duration of stay and validity
- Previous travel history
- The volume of applications at the Embassy
Since it is hard to estimate the exact time, make sure you apply ahead of time. Doing so will help you avoid any complications.
When You Have a Lithuania Business Investment Migration Visa
Once you have got this permit, make sure you consider the below-mentioned points so you avoid facing any difficulties throughout your journey.
- Note the duration of stay, validity, and type of entry mentioned on the visa sticker. Keep in mind that your visit must be in line with this.
- You ought to carry all the required documents mandatory before traveling, such as a personal ID, passport, visa, and more.
- While you are traveling within the nation, carry a copy of all the travel documents. If you are traveling to other nations within the Schengen, you need to carry genuine travel documents.
- Make sure you travel to Lithuania within 6 months of the issue date, or as stated on the sticker. After the issued date, your permit will no longer be valid.
- You cannot become involved in work-related activities if you are in a business category.
You are authorized to move within the Schengen zone without any restrictions.
You will not be able to extend the residence permit under normal conditions.
As a part of the European Union, Lithuania is one of the Schengen nations. It comprises massive tracts of stunning lakes, forest lands, and flat lands. Lithuania is one of the three Baltic nations in Europe, which is known for its business environment, living cost, lifestyle, and innovation.