Lithuania To Offer Foreigners E-Resident Status
From 1 January 2021, amendments to the Law on the Legal Status of Aliens will enter into force in the Republic of Lithuania. They will establish the status of an electronic resident of the Republic of Lithuania (hereinafter - electronic resident). The purpose of the amendments is to attract foreign investments to Lithuania in the field of business and service development.
Electronic resident status will allow foreigners to register companies electronically, open bank accounts, declare taxes or use other administrative, government or commercial services provided electronically (remotely).
A foreign person who has been approved as an electronic resident will receive an electronic identity card and an electronic signature, as well as a certificate of confirmation of electronic residence in the electronic space and a certificate of obtaining an electronic signature. Thanks to these tools, foreign persons will be able to access the services.
The amendment to the law and legalization of the e-resident status are widely welcomed by the professional community. Experts are confident that these measures will create favorable conditions for doing business in Lithuania. Obtaining e-resident status will make the exchange of data in electronic form faster and more convenient.