If necessary, we can act as the intermediary in relationship with our customers developing the business in the EU and we may act as the intermediary applying for a temporary residence permit in Lithuania, Latvia, Estonia. The aforementioned countries have different requirements on this matter:
A temporary residence permit is granted on the ground of economic activity. A person may invest into any existing or newly founded legal entity or act as an individual interpreneur. The required amount of the investment should be not less than EUR 65.000 for a legal person and not less than EUR 16.000 for an individual interpreneur. An investment is recognised the own equity, contributions to assets or subordinated loans.
For the purpose of achievement a temporary residence permit, the business should be carried out in Estonia – a company should commence active operations in the Estonian market, pay taxes, employ local residents.
Latvia offers a few ways for achievement a temporary residence permit:
- Acquisition of a real estate. The value of such property should be not less than EUR 250.000.
- A subordinated bank loan. We would like to emphasize separately that this is not fixed-term deposit prohibited by the country!!! The total cost of such mean amounts to not less than EUR 305.000 (the loan of EUR 280.000 and the duty stamp of EUR 25.000).
- An investment into a Latvian company should be over EUR 35.000.
- Employment in a Latvian board or council subject to a monthly wage is not less than EUR 1.368 and a company pays annual taxes of not less than EUR 14.300.
Business migration is available in Lithuania if an applicant for a temporary residence permit is:
- a shareholder or / and manager of a Lithuanian company,
- a participant of a company entitled to conclude transactions on behalf of thereof,
- a shareholder of a public limited liability company or a private limited liability company owing shares of the value not less than 1/3 of authorised capital of a company.
- an applicant for a temporary residence permit in the Republic of Lithuania has to submit the criminal record issued in the country of the residence.
A company is required:
- documents of the company’s incorporation or acquisition as well as articles of association (regulations).
- documents confirming the grounds for issue or replacement of a temporary residence permit – documents of the company’s incorporation or acquisition as well as articles of association (regulations), documents confirming that this company has been conducting, for a period not shorter than the last 6 months prior to the application for issue of a temporary residence permit, the activities indicated in the instruments of incorporation in the Republic of Lithuania (a business plan, agreements confirming economic-commercial activities, a transcript of the bank account information of this company, an annual corporation tax return, a premises’ lease agreement, etc.) and that no less than three jobs have been established in the company (or no less than five jobs if an alien complies with the requirements provided for in Article 45 (3) of the Law) and these jobs are occupied full-time by citizens of the Republic of Lithuania or aliens permanently residing in the Republic of Lithuania (employment contracts with these persons), documents confirming that the value of this company’s own capital (or, if the company is neither a public limited liability company nor a private limited liability company – the value of its assets) amounts to no less than 28,000 EUR (e.g. the company’s interim financial statement (a balance sheet or an own capital changes’ statement)) out of which no less than 14,000 EUR, or no less than 260,000 EUR, when an alien complies with the requirements of Article 45 (3) of the Law, are the funds or other assets invested by an alien, and documents confirming that this alien is the manager of such company, a member of its collegial management or supervisory body, or is a participant of the company as defined in the Civil Code of the Republic of Lithuania (hereinafter, a participant) having the right to enter into transactions on behalf of the company, or is a shareholder of a public limited liability company or a private limited liability company the nominal value of the company’s shares owned by which is not lower than 1/3 of the authorised capital of this company,
- In case of the submission of an application for a temporary residence permit (older than 14 years) – a statement of a competent authority (-ies) of a foreign country (-ies), where the alien lived before arriving to the Republic of Lithuania or where s/he currently lives, certifying the fact that s/he has (not) been convicted of a crime in that (those) state (-s).
- If the alien has been convicted, the statement must indicate the date and the nature of a criminal act where for the alien was convicted, the sentence imposed on her/him and whether or not it has been served which must be issued no earlier than 4 months prior to the day when the foreign national applied for issuing a temporary residence permit.
- If the foreign national, during his or her stay in the Republic of Lithuania, asks to issue a temporary residence permit and provides a valid national visa of the Republic of Lithuania that the foreign national had when he or she came to the Republic of Lithuania, and if the foreign national intends to stay in the Republic of Lithuania, he or she may provide, in addition to the application for the permit, the aforementioned valid certificate(s) issued no earlier than 1 month prior to the day of receiving the national visa of the Republic of Lithuania.
- If the alien has been convicted, the statement must indicate the date and the nature of a criminal act where for the alien was convicted, the sentence imposed on her/him and whether or not it has been served.
- Certificate(s) that were issued by (a) competent authority (authorities) to confirm that has (no) criminal record in this (these) state(s) must be submitted with a translation into the Lithuanian language confirmed by the translator’s signature and legalised or certified by affixing an apostille according to the procedure stipulated in legal acts, except cases when in accordance with the laws of the Republic of Lithuania, international treaties or legal acts of the European Union the document does not have to be legalised or certified by an apostille;
Do not hesitate to contact us for more detailed information.