Introduction
Lithuania has emerged as an attractive destination for foreign entrepreneurs seeking to establish their businesses in the European Union (EU). One of the avenues through which non-European Union citizens can realize their entrepreneurial aspirations in Lithuania is by obtaining a D-Type Visa. This long-term national visa permits individuals to reside in Lithuania for more than 90 days and register a company. In this article, we will provide a detailed step-by-step guide on how to acquire a D-Type Visa in Lithuania by registering a company. From understanding the visa requirements and eligibility criteria to navigating the company registration process and complying with legal obligations, we will cover all the essential aspects involved in this endeavor.
- Understanding the D-Type Visa
The D-Type Visa is a long-term national visa issued by Lithuania, allowing non-EU citizens to establish and manage a company within the country’s borders. This visa category is particularly designed for individuals who intend to engage in business activities and contribute to Lithuania’s economy. It offers numerous advantages, including access to the EU market, a favorable business environment, and potential opportunities for growth and expansion.
- Meeting the Eligibility Criteria
To be eligible for a D-Type Visa in Lithuania, applicants must fulfill certain requirements. These include:
a. Legitimate business idea: You should have a well-defined business concept that demonstrates the potential for success.
b. Solid business plan: Prepare a comprehensive business plan outlining your company’s objectives, strategies, and financial projections.
c. Sufficient financial resources: You must possess the necessary financial means to support your business venture, including the initial investment and operational expenses.
d. Language proficiency: Proficiency in either the Lithuanian or English language is required to effectively communicate and conduct business transactions.
e. Relevant qualifications or experience: Depending on the nature of your business, you may need to possess specific qualifications or relevant experience in your chosen field.
- Registering Your Company
Registering a company in Lithuania is a crucial step in obtaining a D-Type Visa. Follow these key steps to successfully establish your business:
a. Choose the appropriate business entity type: Select the legal structure that best suits your business needs. Common options include a limited liability company (UAB), a sole proprietorship (IĮ), or a joint-stock company (AB).
b. Reserve your company name: Choose a unique name for your company and ensure its availability by reserving it with the Register of Legal Entities in Lithuania.
c. Prepare the necessary documentation: Gather the required documents, which typically include:
i. Passport: Provide a copy of your valid passport.
ii. Proof of address: Submit proof of your residential address, such as a utility bill or rental agreement.
iii. Business plan: Prepare a detailed business plan that outlines your company’s goals, market analysis, marketing strategies, and financial projections.
iv. Financial statements: Present your financial statements, including the statement of assets and liabilities, profit and loss statement, and cash flow statement.
d. Establish a bank account: Open a business bank account with a Lithuanian bank and deposit the required share capital as specified by the law.
e. Register with the authorities: Submit your company registration application to the Register of Legal Entities. Ensure you pay the relevant fees and comply with any additional requirements.
f. Obtain a Lithuanian legal address: Provide a registered office address in Lithuania for your company, which can be your own address or virtual office service.
g. Tax registration: Register your company for taxation purposes with the State Tax Inspectorate in Lithuania.