Residence permit, Visa, Citizenship
Real estate in Lithuania is currently considered to be one of the cheapest in all Europe. After the global financial crisis, prices decreased sharply and are only now beginning to rise slowly; therefore a lot of people are interested in purchasing Lithuanian property as well as obtaining a residence permit. Buying an apartment in Lithuania provides a one-year multi-visa and foreigner automatically receive the right to travel to all European Union countries.
According to the current Lithuanian immigration law, non-EU citizens can receive a Lithuanian residence permit in exchange for investment if they meet all of the following six requirements, namely:
- The investor should run a Lithuanian company for at least 6 months before applying for a residence permit;
- The Lithuanian company should employ at least 3 Lithuanian residents and pay their social security contributions. The average amount of a monthly social security contribution in Lithuania is approximately EUR 160 for one person;
- A share capital of EUR 28.000 should be invested into the Lithuanian company;
- At least EUR 14.000 of the share capital should be the investor’s own capital;
- The investor should have a leading position in the Lithuanian company;
- The investor is requested to prove that they have a place of residence (an apartment or a house) in Lithuania that meets hygienic requirements (e.g. a minimum of 7m² for each person who is declared to live in that place).
The residence permit is valid for one year and has to be extended. After the expiration of the one-year residence permit, the investor can extend the permit every two years if all of the aforementioned requirements are met. However, if a foreign person invests more than EUR 260.000 into a company in Lithuania and employs at least 5 Lithuanian residents, they can receive an initial residence permit for 3 years, which can be extended every 3 years.