Establishment or purchase of the Lithuanian company
Temporary residence permit in Lithuania on the basis of legal activityis issued to a foreign citizen when the following conditions are met:
- The foreigner is a shareholder of a Lithuanian company with share of capital in the company not less than 1/3 of the authorized capital of the company or member of the board of the company or director of the company in Lithuania;
- The Lithuanian company operates according to the founding documents for at least the past 6 months until the foreigner's application for a temporary residence permit;
- The Lithuanian company has created no less than 3 work placesfor Lithuanian citizens or foreigners permanently residing in Lithuania to work full-time;
- The value of the Lithuanian company's capital is no less than € 28 000.00. The number of investors in one company - up to 3 persons. The value of the Lithuanian company's capital is no less than € 42 000 for three investors (for € 14 000 each) and is no less than € 28 000 for two or one investor.
The temporary residence permit is issued for 1 year and can be extended for 2 years. A person may apply for a permanent residence permit after living in Lithuania for 5 years. After 10 years, he may apply for the citizenship of Lithuania.