Legislation, Lithuania, Technology

International Internet Magazine. Baltic States news & analytics Thursday, 19.07.2018, 07:13

Lithuania issues startup visas to 25 firms

BC, Vilnius, 05.12.2017.Print version
Twenty-five firms have already been issued with startup visas allowing them to relocate to Lithuania under a simplified procedure, the business daily Verslo Zinios reported on December 5th, cites LETA/BNS.

"Applications come in waves. We may receive 30 applications one week and none the next. I can't say why yet," Natalja Lichodedova, a project manager at Startup Lithuania, a unit of Enterprise Lithuania, the government's export promotion agency, told the paper.

 

"Of course, if we have an event, for example, in Ukraine or Turkey, then, naturally, we receive queries and questionnaires from there," she added.

 

According to Lichodedova, 25 companies have been issued with startup visas since the process was launched last March and five of them have already set up operations in Lithuania.

 

Startup Lithuania has considered a total of 115 applications, she said, noting that a lack of innovation is the key hurdle for firms to obtain a startup visa.






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