aA
Lithuania will start issuing visas to businessmen establishing startups in the country faster as of July 1, the country's Ministry of Economy and Innovation has announced.
Lithuania to step up visa issuance for foreign startups
© DELFI / Modesta Meškė

The visa issuance period for such foreigners will be cut from 30 to 15 calendar days, and the period will be shortened from 30 to 5 days for startups invited to join venture capital and private equity funds.

The Migration Department will make the final decisions on residence permits after taking into consideration documents submitted by Lithuania's export-promotion agency Versli Lietuva (Enterprise Lithuania).

Launched in 2017, the Startup Visa program provides the opportunity for foreigners to undergo all migrations procedures faster to get residence permit from the Migration Department. The goal of this program is to attract startup creators and their investment to Lithuania and to ensure smooth relocation procedures.

The program has received 101 applications this year, and 31 were approved. The startup database shows 612 startups now operate in Lithuania.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Sinkevicius: no strict deadline for submitting economic recovery plan

As Lithuania plans to submit its economic recovery plan to Brussels slightly later, in the middle of...

Extra-EUR 55 mln for pandemic management will push budget deficit up

As the Lithuanian government plans to review this year's budget, the now-approved state budget deficit...

Northway Biotech claims to have created anti-coronavirus drug (1)

Lithuanian company Northway Biotech, based in Vilnius, claims to have created an anti-coronavirus drug...

Julius Gendvilis ends his career as head of Mitnija

Julius Gendvilis is ending his career as head of Mitnija, one of the largest construction companies in...

Vilnius invites workers of big companies to get AstraZeneca jab

Vilnius authorities have invited workers from companies with more than 100 employees to get the...

Top news

Half of people in southeastern Lithuania don’t watch Polish TV channels

Half of the residents in southeastern Lithuania do not watch Polish TV channels as some of them choose...

Sinkevicius: no strict deadline for submitting economic recovery plan

As Lithuania plans to submit its economic recovery plan to Brussels slightly later, in the middle of...

Dulkys: more funds will be needed for medics dealing with COVID-19 (1)

Funds for raising wages for medics have already been allocated, Lithuania's Health Minster Arunas...

Extra-EUR 55 mln for pandemic management will push budget deficit up

As the Lithuanian government plans to review this year's budget, the now-approved state budget deficit...

Lithuania ranks 65th in EU by COVID-19 cases 10th by death rate

Lithuania currently ranks 5th in terms of the 14-day COVID-19 case notification rate among EU member...