What is the “Startup Visa”?
The Startup Visa is a new talent attraction scheme that provides a streamlined entry process to the Lithuanian startup ecosystem for innovative non-EU entrepreneurs to build, grow and compete in our booming international community. Designed for innovative startup founders who wish to establish a startup in Lithuania, you no longer need to fulfill certain capital or employment requirements to obtain a residence permit. If your business idea is deemed suitable by our panel of experts, you will be able to apply for a temporary residence permit on such basis.
What do I get?
The Startup Visa gives you access to a streamlined migration procedure in claiming a temporary residence permit in Lithuania. A temporary residence permit will allow you to live in the country for one year, with the possibility to extend for an additional year. You will also be allowed to bring along your family. After the 2 years, in order to stay in Lithuania, you will have to fulfill regular immigration requirements. We’re also offering close cooperation with the “Startup Lithuania” team, who will be there to help you along the application process and land your idea in Lithuania upon your arrival. “Startup Lithuania” is a government run initiative, that constantly works as a major part of the country’s startup ecosystem. They will help your business by providing hassle free support on initial legal and administrative queries, and by further connecting you to you to other members of the ecosystem through consultations, events and seminars.
5 STEPS TO GET YOUR STARTUP VISA
Submit your application online. The online application will require you to fill out a form consisting of three basic parts describing you, your team, and your business idea. You will need to provide basic personal information of each team member, a general review of your team, and an overview of your startup idea and development strategy. Plus, upload any additional information (such as CV, business pitch deck and other related information) would be a plus!
Attend an online video interview. If your application meets at the basic requirements, an interview time will be arranged and should take between 30 and 60 minutes. You are expected to pitch your idea, like you would to potential investors for 2-5 minutes, afterwhich we will further ask you to tell us about yourself, your team, and how you plan to develop your idea.
Evaluation Committee. Your application along with your recorded video interview will be sent to the independent evaluation committee formed out of public and private sector members, all of whom have relevant background about startups. Startup Lithuania aims to attract the most innovative and competitive startups in order to grow and mature our current startup ecosystem. Therefore, the committee will evaluate your application based on the following criteria, giving each a score from 1-5:
- How innovative is the idea or business model?
- How scalable is the business model?
- The team’s capability of starting and expanding the business
- Reality of execution of set one year goals and two year strategy
- The candidate’s role significance in the team
Migration Department. Once approved by the committee, you will receive an official confirmation letter from Enterprise Lithuania, stating that your business idea is suitable. This letter will be required by the Migration department when you apply for a temporary residence permit. You can apply for a residence permit either at the Lithuanian embassy in your home country or submit the documents directly at the Migration department if you are already in Lithuania.
Start a business. Don’t worry! It’s easier than you think and the “Startup Lithuania” team will help you along the way. However you must officially establish the business in 30 days upon arrival.