Business Environment in Lithuania (Europe)
Over the past decade, in terms of economic growth rates, Lithuania was leading country among the Baltic States (Lithuania, Latvia and Estonia). During the period from 2000, Lithuania’s economy has grown on average by 5.3 percent per year, Estonia’s — by 4.6 percent, and Latvia’s — by 4.3 percent. Lithuania, having the largest population among the Baltic countries, also produces more than half of the Baltic economy. In Lithuania industry makes up roughly 23 percent of the GDP, while services make up about 69 percent.
Share of GDP in the Baltic States
|
Major Countries Investors
|
 |
 |
FDI in Lithuania by Economic Activity
|
 |
Macroeconomic Figures
| Prospects |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
2012F |
| GDP, EUR bn |
21.0 |
22.6 |
24.8 |
25.5 |
21.8 |
22.1 |
- |
- |
| GDP growth (annual) |
7.8 |
7.8 |
9.8 |
2.9 |
-14.8 |
1.4 |
5.8 |
2.5 |
| Annual inflation |
3.0 |
4.5 |
8.1 |
8.5 |
1.3 |
3.8 |
4.1 |
2.5 |
| FDI, EUR bn |
6.9 |
8.4 |
10.3 |
9.2 |
9.6 |
10.3 |
- |
- |
| Unemployment |
8.3 |
5.6 |
4.3 |
5.8 |
13.7 |
17.8 |
15.6 |
14.0 |
Source: Lithuanian Department of Statistics, www.stat.gov.lt;
Ministry of Finance, www.finmin.lt
The flow of FDI in Lithuania in 2010 increased nearly four-fold compared with 2009. The number of FDI projects went up by 52 percent.
Around 1/3 of global FDI has gone to business and financial services, whereas industrial investment has also been on the rise (21 percent growth).
It is expected that the FDI projects launched in 2010 will bring EUR 1.15 billion investment, and more than 3,300 new jobs will be created on the market over the next 3 years.
Money-back guarantee
Long-term experience accumulated our experts are fully responsible for their quality of work and results. Good relationship with the Department of Immigration, Tax Inspectorate, the Social Insurance Inspectorate, Centre of Registers and other state and non-state institutions helps to ensure the highest quality services.
We do not operate in automatic machine principle and look deeper into the needs of each client. Whether it is business acquisitions, advice on migration, finance, accounting, or other issues - this is a unique process.
Only in this way we can ensure the highest quality services. Therefore, we provide our clients 100% money back guarantee if due to our fault you do not receive a temporary residence permit. We also guarantee that the company You will purchase has no debts or other liabilities. Our accounting services are insured, so if fees are wrong calculated, we or our insurance company will cover all losses.
RESIDENCE PERMIT
Process time for a temporary residence permit for each country depends on that country's laws. Usually it takes 2-6 months. If you have additional questions, the Migration Department may extend length of the proceeding up to 3 months. The answer may be a negative if the client:
- Was deported;
- Punished for crime;
- Has records in the police department;
- Other negative entries of personal biography;
- The information about the client is false, untrue;
- Going to false immigration.
If it turns out that the negative response to the temporary residence permit is due to one of these reasons, we will not return your money.
If the client has a clean biography and correct data about him/her, but due to our fault do not receive a temporary residence permit, in this case within 30 days we will return 100% of his/her money and will not ask for any compensation concerning experienced costs.
Business acquisitions and start-up
All of our sales companies do not have any debts or obligations. If you buy a new company (without any history), the company has absolutely no bookkeeping records. If you are going to buy an existing company with a history of activity, in this case you will provide the company financial reports and you will be able to assess the Company's status. If after the acquisition of the company, there would be unforeseen events and it would be our fault, we will take all the responsibility on ourselves.
Accountancy services and consultations
We take full responsibility for the provision of accounting services. Our accountants have many years of experience, good skills in preparing various reports to the state institutions; also we provide representation during an inspection. We look very responsibly to our work that is why we insured our employees from the possible errors, so if fees are calculated wrongly, we or the insurance company will compensate them.
