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Lithuania

Looking from the perspective of logistics, Lithuania is a truly convenient country. All European capitals, for instance, can be easily reached from Lithuania by making a three-hour flight and not longer. Aerial and sea transportation systems and the road transport system are extremely well-developed in Lithuania as well.

FDI001

  

Foreign investors put their trust in our country. A growing number of foreign direct investments has been conditioned by the constantly increasing productivity, a close cooperation between science and business, one of the smallest corporate tax rates in the EU and attractive tax exemptions at Free Economic Zones.

In accordance to the report “Doing Business”, Lithuania takes up the eighth position on the ease of doing business in the entire world. 

IT infrastruktura

 

The highest internet data transfer rate as compared to the rest of the EU and an excellent access to fiber-optic Internet technologies make Lithuania a perfect location for international business.

Lithuania ranks first in the world for meeting business IT needs / IMD World Competitiveness Yearbook, 2015

 

People001

 

Lithuanian employees speak at least one foreign language, and even a half of the inhabitants of Lithuania speak at least two languages. Computer literacy of the local people is extremely well-developed and it meets the highest standards in Europe. A close cooperation between academic institutions and the business sector helps to ensure an excellent education and subsequent high qualifications for employees.

In Central and Eastern Europe we stand out as leaders with a particularly high number of graduates in mathematics and exact sciences per one person / Eurostat, 2013.

Lithuania ranks first in Central and Eastern Europe regarding the cooperation among universities and business in the realms of research and product development / WEF Global Competitiveness Report, 2015-2016.

 

Many qualified and motivated professionals are currently working in Lithuania. For this reason the effectiveness of this country and the quality of life are increasing rapidly. Favourable business conditions are being created and the highest-quality infrastructure is being developed as well.

From 2010 the expenditure on science and research has been increasing by 11 percent every year / Statistics Lithuania, 2014.

Lithuania experienced the second fastest increase in economic growth inside the EU from 2010 to 2014 / Eurostat, 2014.

 

doingBusiness001

 

It is really simple to start and conduct business in Lithuania. The services provided by the E – Government Gateway greatly accelerate everyday business operations and shorten bureaucratic processes. The laws of the country correspond to the EU laws and for this reason business in Lithuania is safe and transparent.

Merely three days are sufficient to start a business and it is possible to do it on-line using a digital signature / Centre of Registers, 2015.

According to the Index of Economic Freedom compiled by “The Heritage Foundation” and “The Wall Street Journal”, Lithuania ranked 15th in the world in 2015. In comparison, our country ended up giving way to Estonia (the 8th position) and outpacing Latvia (the 37th position).

 

Medal

 

 

IMPORTANT DATES:

Lithuania joined the European Union as a member state on 1st May 2004.

Lithuania joined the Schengen Area on 21st December 2007 and this decision resulted in the abolition of land, sea and air border controls among Lithuania and all other states which belong to the Schengen Area. Meanwhile, the movement of goods, services, capital and persons became free.

Lithuania became a member of the Eurozone on 1st January 2015.