Lithuanian Business Climate

Lithuanian Business Climate

Lithuania is the largest country among the three Baltic countries. It is located in Northern Europe on the south-eastern shore of the Baltic Sea. Lithuania is one of the fastest developing nations in the European Union. The GDP of the country increased by 38% throughout the period from 2004 to 2014. Subsequently, from 2012, the country has maintained a steady development of around 3.3% growth per annum, which is almost 30 times higher compared to the overall EU average.

  • Lithuania is one of the best countries to start a business. Lithuania has all the requirements to make your investment worthwhile. One of the greatest assets of Lithuania is the talented workforce. Lithuania is No. 1 in the highest number of science graduate.
  • Lithuania is considered as No.1 in CEE for foreign language skills.
  • Lithuania is ranked 2nd globally for entrepreneurship of managers.
  • The strength of Lithuania is Information Technology, and they are ranked 4th globally in this sector.
  • In free economic zones, the corporate income tax is 0% for the first 6 years.
  • Lithuania is ranked No.7 in business adjustment to market changes.
  • Lithuania is leading in the provision of the best public internet. We are ranked No.1.
  • We are ranked 7th globally in term of flexibility and adaptability.
  • The capital city of Lithuania, “Vilnius” is considered as one of the greenest capitals in Europe.
  • Lithuania has one of the fastest internets in the world. Lithuania was among the first countries in the world to start using 4G internet

Business opportunity in Lithuania:

Lithuania is considered as one of the fastest growing economies in the European Union. The GDP growth of the country has increased immensely by 38% during the period of 2004 – 2014, which is considered as the biggest in the EU. Lithuania is a member of the European Union and the Schengen area. Lithuania is also a member of the eurozone from 2015. The tax environment in Lithuania is one of the most favorable environments for business creation. Investors around the globe are eyeing on Lithuania to start a business here. The FDI in Lithuania from 2008 – 2012 is around €51.5 billion euros. The top three FDI countries in Lithuania are Sweden, Poland, and Germany. Lithuania is ranked top in labor productivity growth in the EU. Lithuania is considered as the 3rd most favorable country globally to invest in production. Lithuania offers a diversified economy to investors, a skilled workforce, low corporate taxation, the best-developed road network and it has a stable and democratic political system. It also severs as the center of Europe, so it is easy to connect to all the countries in EU. Lithuanian legislation offers equal protection for both foreign and domestic investments. The government has taken measures to ensure equal treatment of foreigners and domestic investors. In order to invest foreign capital in Lithuania, there is no special permit required from the government authorities. Apart from a few exceptions, nearly all sectors of the economy are freely accessible. To encourage investment, the Government has also created free economic zones with tax benefits and one-stop-shop services.

By |2018-11-23T17:18:06+02:00November 22nd, 2018|Comments Off on Lithuanian Business Climate

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