Startup Visa

Founding a Startup in Lithuania: 5 Reasons Why
Aug 02

Reading the title you must have thought: starting a business in a different country… Why would I? The most appropriate response, we feel, is simple: why wouldn’t you?

Staying in home market may offer the advantage of having an accurate grasp or the ‘feel’ of it. But sometimes the unknown offers many more opportunities – you just need to dive in headfirst and discover what lies right in front of you. And with the Startup Visa Lithuania program, diving in has never been easier. Learn more about it here:

Reason #1: Investment opportunities

Fact: in 2018, Lithuanian startups received more than 183,000,000 Eur of investments. Startups in Lithuania can receive support regardless of what stage they’re in – here’s a simplified ecosystem map that demonstrates it:                                                                                                                                              

Reason #2: Plenty of tech talent

Fact: There are over 31,500 IT professionals in Lithuania alone.

Looking to innovate in tech? Then Lithuania might be the go-to location for you as a visionary. Ever-growing crowd of young professionals who seek meaningful challenges and not simple task-solving job. And for those who intend to start operating in fintech, a Lithuanian government-provided license will provide access to the markets of 28 countries in the European Union.

Reason #3: Support system

Fact: There’s a support system in place to help you enter the community.

Starting with us at Startup Lithuania, there’s a whole community that’s open to newcomers. Numerous foreign startups already operate in the country, and we’ll help introduce you to them. Networking is key in startup ecosystem – and the community is booming in Lithuania. Events both large and small are regularly taking place in Lithuania, many startup hubs and other ecosystem partners will make you landing comfortable.

Reason #4: Startup-oriented mindset

Fact: We love startups, and our government loves them too.

Lithuania is one of the first countries in Europe to define the concept of a startup by law. A favorable option taxation was also added, meaning that employees who have retained the shares of the company acquired through options for more than three years will not be subject to personal income tax. Add our lenient process of starting a business – it takes 1 business day to register a company online – and favorable legislations to the mix, and you can see that Lithuania is aiming to inspire and motivate startups rather than build roadblocks for them. There’s a reason why in 2019 Lithuania was ranked #14 in Ease of Doing Business rating compiled annually by the World Bank.

Reason #5: Work-life balance

Fact: All work and no play makes Jack a dull boy.

Finding a place to live the capital city won’t be hard thanks to a handy relocation guide tool provided by our partners Go Vilnius. And in Vilnius, your lifestyle will be accommodated regardless of whether you’re a partystarter or a family head. Are you more interested in smaller towns? Co-working spaces such as Spiečius hubs, for example, offer their members free working spaces, mentorships and business consultations.

Sounds interesting? Let’s talk: