Investments, Labour-market, Legislation, Lithuania

"The law is said to provide better conditions for foreigners – corporate participants and executives – to receive temporary residence permits in Lithuania. This is not true – a businessman from a third country aiming to live in Lithuania will have to invest more of his own money in his business than he used to, unless he is a startup," the daily cited Svetlana Naumcik, senior lawyer at iLAW trade union of lawyers, as saying.

According to the Law on the Legal Status of Aliens approved by the Lithuanian parliament last week, a foreign businessman will have to employ citizens of Lithuania or other European Union (EU) countries and pay them a salary, which would be at least two monthly salaries published by the country's statistics agency, in addition to other requirements.