The Parliament adopted amendments to the Law on the Legal Status of Foreigners allowing foreign nationals to obtain the status of e-resident starting January 2021.
E-residents will receive a digital identity identification that will give them online access to a range of administrative, public, and commercial services. These will be able to set up companies, to run business from abroad, open bank accounts and declare taxes online.
The application procedure for the e-resident status, handled by the country’s migration department, is expected to be simple and quick.
The initiative will improve the domestic business environment and attract foreign companies and entrepreneur to Lithuania.
Migration Department at the Ministry of the Interior
e-Residency programme allows foreigners to set up companies (preferably startups) and run business in Lithuania.
The Law on the Development of Small and Medium-Sized Enterprises determins that a start-up is a very small or small enterprise with great potential of innovation-based business development, operating for less than 5 years.
The programme will come into force on 1 January 2021.
We see how the world is moving, how mobile it is and how electronic services, fintech services are developing. We must make it possible in Lithuania, too.
Evelina Gudzinskaitė, Director of the Migration Department. Ph. +370 5271 7235, e-mail. email@example.com