If one or 2 foreigners (not UE citizens) wish to work (without the permit of the Labour Exchange) in Lithuanian company, they should have to register a new Ltd. or to purchase already registered company with the authorised capital amounting to not less than EUR 29.000. The authorised capital shall be divided between all shareholders – foreigners by EUR 14.500. Shareholder’s equity shall be a column of balance sheet consisting of the authorised capital increased by income or reduced by loss. In order to extend temporary residence permit, this column of balance sheet has to reveal EUR 28.000 each year regardless of number of foreigners incorporated the company. Upon registration of the company, at least one Lithuanian citizen should be employed and his salary should be 1680 Eur. per month ( 2 average statistical salaries) or a person who has lithuanian permanent residence permit should be employed for entire 8 hours duration working day.
If 3 foreigners (not the UE citizens) wish to work (without the permit of the Labour Exchange) in Lithuanian company and to obtain the temporary residence permit, they should have to register or to purchase Ltd. with the authorised capital amounting to EUR 43.443. The share of each shareholder in the authorised capital shall amount to EUR 14.500. Shareholder’s equity shall be a column of balance sheet consisting of the authorised capital increased by income or reduced by loss. In order to extend temporary residence permit, this column of balance sheet has to reveal EUR 28.000 each year. Upon registration of the company, at least one Lithuanian citizen should be employed and his salary should be 1680 Eur. per month ( 2 average statistical salaries) or a person who has lithuanian permanent residence permit should be employed for entire 8 hours duration working day.
If such company is incorporated by foreign shareholders, the maximum number of shareholders cannot exceed three persons.
Temporary residence permit shall be given for 1 year and extended for 2 years.
- Copy of passport of all shareholders and the passport page where the record of permanent residence address of each shareholder in the country of origin or other country has been made;
- To indicate preferred types of activity;
- To indicate preferred name of company;
- To make prepayment of 50%;
- Power of attorney (if company is registered by power of attorney).
Work permit shall entitle to obtain temporary residence permit! If a new company is registered, submission of documents for obtaining temporary residence permit (valid for one year) shall be allowed on condition that Ltd. was operated not less than 6 months and there are documents confirming it’s operation. If a company which operated (more than 6 months) is purchased and there are documents confirming it’s operation (invoices, agreements, payments and other), documents for obtaining temporary residence permit may be submitted also only after 6 month
Company shall have to operate profitably in order to obtain temporary residence permit. The Migration Department shall verify the company activity by its balance sheet, shall apply for submission of agreements and invoices, statement of account.
We would like to note that if one of family members (husband or wife) obtains the temporary residence permit, another spouse with underage children can also immediately submit documents for TRP.
Temporary residence permit shall be given for 1 year and extended for 2 years.