On January 1, 2017, the amendments to migration legislation approved by the Seim of Lithuania will come into force. The amendments simplify the process of obtaining a permanent residence permit for representatives of the startups from outside of the European Union.
Foreign startupers can apply for a temporary residence permit in Lithuania for a period of one year with an option to extend it for another year. After that, they will be able to apply for a residence permit on condition that they continue to be a manager or shareholder of the company.
Now it is needed to invest in the business for at least 30 thousand euros, as well as hire for the company at least three local staff, in order to obtain a residence permit.
The amendments are also designed to simplify the employment of individual experts from countries outside the European Union.
The amendments will enter into force on January 1, 2017. Now the startup visa programs are operating in the Netherlands, Denmark, France and Israel.
It is reported by vc.ru.
For detailed information please, contact Confidence Group consultants.
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