Lithuania stands out as a country where more than nine out of ten online forms contain prepopulated data, which reduces the time to complete the forms and minimises typing errors. Head of Legal, Laurynas Totoraitis at Grant Thornton Baltic describes the following benefits of obtaining an e-resident status.
“Lithuania's e-Residence program is a digital solution that makes it easy for non-Lithuanians to start and run a business from anywhere in the world. With an e-Residence card, you can access a variety of online services and sign legal documents electronically, which greatly simplifies the process of starting a business in Lithuania.“
Here are some of the key benefits of the e-Residence program:
Easy Business Setup: The e-Residence program streamlines the process of setting up a business in Lithuania. With an e-Residence card, you can access online services and sign legal documents electronically, which saves time and reduces the cost and hassle of setting up a business.
Access to EU Market: Lithuania is a member of the European Union (EU), which gives businesses access to a market of over 500 million consumers. With e-Residence, you can easily set up and run a business from anywhere in the world, and benefit from the EU market.
Attractive Taxation: Lithuania has a favorable tax regime that is especially beneficial for entrepreneurs and international businesses. The country has a low corporate and personal income tax effective rates, making it an attractive destination for business owners.
Skilled Workforce: Lithuania has a highly educated and skilled workforce in IT, engineering and sales. This makes it an ideal location for businesses that require specialized talent. With e-Residence, you can access this talent pool and build a team of professionals who can help grow your business.
Digital Infrastructure: Lithuania is a leader in digital innovation, with a highly developed digital infrastructure and a supportive environment for tech startups. The country has a thriving tech community, which provides a supportive environment for entrepreneurs and businesses.
If you're looking to start or grow a business in Lithuania, the e-Residence program is definitely worth considering. With its streamlined business setup process, access to the EU market, favorable tax regime, skilled workforce, and supportive digital infrastructure, Lithuania offers a unique and compelling opportunity for entrepreneurs and international businesses.
So, if you're ready to take advantage of these benefits and grow your business, contact Grant Thornton‘s Legal Advisory team for e-Residence today. Apply now and take your business to the next level!