One way for a startup to move and start developing a business in another country is to get a startup visa. Many foreign accelerators also require both personal presence in the host country and confirmation as well as company registration there. In this series of articles we will tell you how to get a startup visa in various European countries.
Startup Visa Lithuania, a simplified migration procedure for startups from non-EU countries, was introduced in 2017. Since then, more than 60 startup founders have moved to Lithuania with their families and 61% of them have attracted investment during their time in Lithuania.
More than 750 startup visa applications have been submitted since the start of the programme and 350 founders have been able to get a startup visa. You can apply for the startup visa on the programme's homepage.
The startup visa allows innovative entrepreneurs from countries that are not members of the EU to reside in Lithuania and start a business here. The startup visa allows individuals and their family members to live and work in Lithuania for one year, the startup visa can be extended for one year.
In the case of the startup visa, there is no requirement to invest a certain amount of capital into the company, only sufficient capital to establish and start the company. There is no requirement for the start-up visa holder to employ a certain number of employees in the company.
Requirement for the startup visa – companies applying for a startup visa must operate in one of the following fields: biotechnology, electronics, IT, laser technology, mechatronics, nanotechnology.
In order to receive a startup visa, the applicants must:
2. Apply for a temporary residence permit in Lithuania, once the project application has been approved and official confirmation from the state enterprise development agency Enterprise Lithuania has been received. This procedure can be carried out either in person at the Migration Department (L. Sapiegos g. 1, Vilnius) or abroad at any Lithuanian embassy. It takes about one month to process the application and issue the initial visa under the accelerated procedure and 2 months under the normal procedure.
After the issuance of the temporary residence permit, the company must be established and start operating in Lithuania within 30 days.
Photo: Startup Lithuania