Republic of Lithuania
Capital: Vilnius HDI: 0.834 (35th)
GDP (PPP): $79.63 billion
Population: ~ 2.9 million
Lithuania is the largest of the Baltic nations, both in terms of population and economic size. Lithuania has been focused on becoming a knowledge based economy, and has developed a vibrant biotechnology industry. The nation also has one of the highest human development ratings of a former constituent soviet nation. Ranked within the top 20 countries in the Index of Economic Freedom, the country has successfully transitioned from a restrictive centrally planned economy. A huge draw for foreign investors is the flat tax of 15%, two free economic zones, highly educated workforce, and a reliable infrastructure.
Doing Business in Lithuania
This economy profile presents the Doing Business indicators for Lithuania. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator. The data in this report are current as of June
1, 2014 (except for the paying taxes indicators, which cover the period January–December 2013).
Lithuania – European Commission
2016-2017 economic projections from the Eurpoean Commission
Starting a Business in Lithuania
Overview of Lithuania Economy – This page summarizes Doing Business 2015 data for Lithuania. The first section presents the Ease of Doing Business rank (out of 189 economies) and the distance to frontier (DTF)** measure, overall and by topic. The second section summarizes the key indicators for each topic benchmarked against regional averages.
Industry Trends & Business Climate
Business environment in Lithuania
In the guidelines for Lithuania’s economic development, no branch of industry has been given special priority, however, a strategic decision was taken to promote innovation, investment in modern technologies and industries that create high added value.
BUSINESS CLIMATE Investment Climate
Lithuania began a comprehensive economic reform program following the country’s declaration of independence in 1990.
Establishing a Presence
Business Types – Possible types of company to register in Lithuania
listing of the most popular types of company (forms of incorporation), having status of a legal person, are permitted to operate in the Republic of Lithuania
Business Registration Requirements – Starting a Business in Lithuania
This site provides a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Lithuania.
Business Registration Requirements – Company establishment process in Lithuania
Business Types – Types of legal entities in Lithuania
Lithuania is the most advanced and promising Baltic countries, where doing business is quite reliable and secure. The most common types of registered companies in the Republic of Lithuania are: private limited liability company, public limited liability company and Individual enterprise (sole proprietorship). Business in Lithuania is regulated by the laws: Civil Code, Joint Stock Companies Act, law on Public Institutions and other legal documents.
Corporate – Lithuania Corporate Tax Rate
The Corporate Tax Rate in Lithuania stands at 15 percent. Corporate Tax Rate in Lithuania averaged 15.50 percent from 2006 until 2015, reaching an all time high of 20 percent in 2009 and a record low of 15 percent in 2007. Corporate Tax Rate in Lithuania is reported by the State Tax Inspectorate.
Corporate – Paying Taxes in Lithuania – Doing Business
This site providesa detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as administrative burden in paying taxes.
Personal – Lithuania Personal Income Tax Rate
The Personal Income Tax Rate in Lithuania stands at 15 percent. Personal Income Tax Rate in Lithuania averaged 26.86 percent from 1994 until 2014, reaching an all time high of 33 percent in 1995 and a record low of 15 percent in 2009. Personal Income Tax Rate in Lithuania is reported by the State Tax Inspectorate.
Personal income tax – Lithuanian Tax Guide
Income tax is levied on individuals who are resident in Lithuania for tax purposes or on individuals who are not resident but receiving a Lithuanian sourced income.
VAT – Lithuanian VAT – Meridian Global Services
The standard rate of VAT is 21 percent. There are reduced rates of 5% and 9% for certain goods and services.
VAT – Value added tax (VAT) – VMI webpage
Details on VAT issues in Lithuania
Lithuania – US Department of State
See Entry, Exit & Visa Requirements
Visa | The Official Gateway of Lithuania
A visa-free entry to Lithuania is granted to citizens of 78 states; however, arrivals from some of them must be holders of diplomatic, service, special or biometric passports.
Telecom/IT – Lithuania – Telecoms Infrastructure, Operators, Regulations
Lithuania’s small telecoms market is among the more developed in Eastern Europe. A number of alternative operators offer services although the incumbent TEO is still the dominant operator in the fixed-line and broadband sectors.
Transportation in Lithuania
A guide to all forms of public and private transportation in Lithuania
Getting around Lithuania on local transport
Transport tips on getting around Lithuania like a local.
Telecommunications in Lithuania – Wikipedia
An overview of telecommunications in Lithuania
Employment of foreigners in Lithuania
Scope of employment regulations including minimum wage, worktime restrictions, employee representation
National Labour Law Profile: Lithuania
See “Labor rights in the Constitution”
Labor Market Regulation in Lithuania
This site provides a detailed summary of some of the labor regulations that would apply to local entrepreneurs wishing to hire workers, organize working schedules, improve job quality for workers, or make workers redundant for economic reasons in Lithuania.
Social Security Programs Throughout the World
Unemployment, retirement and disability regulations in Lithuania from the US Social Security Administration
Lithuania – Language, Culture, Customs and Etiquette
See “Customs and Etiquette in Lithuania” on this site
Climate of the World: Lithuania
The climate of the Lithuania can be described as typical European continental influenced climate with warm, dry summers and fairly severe winters. January is the coldest month with daytime temperatures usually around -5°C, but in some cases winter months can be quite colder with temperatures far below zero, about -20°C or lower and strong, cold northeasterly winds.
Climate | The Official Gateway of Lithuania
Lithuania’s climate is characterized by seasonal weather changes
Cost of Living in Lithuania
Cost of living information includes price indices for rent, food, utilities, transportation, restaurants, clothing and more
Business etiquette in Lithuania
The dos and don’ts of business etiquette in Lithuania
Demographics – Lithuania – The World Factbook
Features map and brief descriptions of the geography, people, government, economy, communications, transportation, military and transnational issues
Safety – Lithuania – US Department of State
US Department of State – Go to Safety and Security for updates from the Lithuanian government
Safety – Lithuania – Department of Foreign Affairs and Trade
Travel advice from the Department of Foreign Affairs and Trade
Education – structure of education system in lithuania
The Lithuanian education system is implemented at 7 levels, which are comparable to the ISCED classification system. Education institutions can be state or non-state (municipal, private or other). According to the Lithuanian Constitution, education is compulsory until the age of 16
Education – Lithuania Education System – Classbase
Education at all state, non-tertiary institutions is free now, except for pre-school which is partly subsidized. The primary school program takes 4 years to complete, nominally between ages 6 to 11. Some schools specialize in this stage only, while others provide all 3 phases of school education.
Holidays and observances in Lithuania
Schedule of National holidays and Observances
Holidays – Lithuania Public Holidays
2015-016 public holidays in Lithuania
Demographics – Lithuania Demographics Profile
Demographic information includes population, quality of life, health, sports, technology, energy and the environment
OEC – Lithuania (LTU) Exports, Imports, and Trade Partners
Lithuania is the 69th largest export economy in the world and the 30th most complex economy according to the Economic Complexity Index (ECI). In 2013, Lithuania exported $28.4B and imported $34.3B, resulting in a negative trade balance of $5.94B. In 2013 the GDP of Lithuania was $45.9B and its GDP per capita was $15.5k.
Import-export regulations from Lithuanian customs
Lithuanian Customs – LITAR
Import and export regulations and procedures from Lithuanian Customs
WTO | Lithuania
This site provides key information on Lithuania’s participation in the WTO. Lithuania has been a member of WTO since 31 May 2001. As of 1 May 2004 it is a member State of the European Union (more info). All EU member States are WTO members, as is the EU (until 30 November 2009 known officially in the WTO as the European Communities for legal reasons) in its own right.
Housing and Rentals
Lithuania Hotels, Hostels & Accommodation
Lithuania has a wide choice of accommodation options to suit most budgets, including hotels, guesthouses, farmstays, hostels and campgrounds.
Best hotels in Lithuania
Lithuania Tourism: Best of Lithuania
A complete travel guide for Lithuania
Lithuania Travel: Welcome to Lithuania! The official websit
Find and learn all about travelling to Lithuania: cities, events, routes, tourist information centers, attractions
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