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Investing in Lithuania: the Business Jewel of EU Membership

Lithuania is a member of the European Union and has the largest economy among the three Baltic states, making it a regional economic powerhouse. As a result, investing in Lithuania has significant business benefits. First and foremost, Lithuania’s stable economy, low inflation, low labour costs, and liberal business environment are the most compelling reasons for attracting large amounts of foreign direct investment. Furthermore, its well-developed transport network, which includes roads, railways, ports, and airports, makes it a vital link between Scandinavia, Western Europe, and Russia.

 

Unlock Business Success: Invest in Lithuania for European Market Access, Low Taxes, and Quality Labor

At the same time, Lithuania, as a former Soviet republic, maintains economic ties with Russia and other CIS countries while also benefiting from the EU market since its accession in 2004, which provides access to a massive market of up to 700 million people. Accession to the Schengen Agreement further facilitates people movement, as holders of Schengen visas can freely travel in 27 European countries, giving businesspeople more flexible travel options.

In addition, Lithuania has one of the EU’s lowest corporate tax rates, at 15%. Lithuania’s highly qualified labour force and relatively low wage costs enable local businesses to compete effectively. Lithuania was once known as the Soviet Union’s Silicon Valley, owing to the fact that the local labour force is generally young and well-educated, which promotes innovation and productivity, and labour costs are among the lowest in Europe. If you need local assistance, contact 3E Accounting.

 

Lithuanian Company Registration Guide: Choosing The Right Type Of Company For You

Foreign investors can register four types of companies in Lithuania, which include:

• Joint Stock Company (AB):This is a type of company that can be listed on the stock exchange. A joint-stock company’s shareholders are typically only liable to the company for the number of shares they own.
• Private limited company (UAB): Typically smaller in size, with shareholders’ liability to the company limited to the amount they invested.
• General Partnership (TUB) or Limited Partnership (KUB): General and Limited Partnerships are partnerships in which the partners share the liability of the business. In a general partnership, the partners have unlimited liability for the debts of the business, while in a limited partnership, at least one partner has limited liability.
• Branch or Representative Office: a foreign company may establish a branch or representative office in the target country to conduct business there.

For investors looking to start a business in Lithuania, it is critical to work with a team of professionals who are familiar with the area and receive comprehensive support. If you intend to start a business in Lithuania, contact 3E Accounting and we will assist you with all aspects of your operations.