Lithuania has launched a Startup Visa program that will make it easier for innovative entrepreneurs from outside the EU to set up operations in Lithuania. The program will enable non-EU startup founders and their families to fast-track their temporary residence permits. A detailed new website explaining the whole processwww.startupvisalithuania.comhas also been launched and made available for applications.
The new Startup Visa legislation has been designed to help startup founders expand to Lithuania. From now on, startups with scalable and innovative business models operating in a number of high tech sectors, including IT, biotech and electronics, will be able to receive a temporary residence permit in Lithuania via a straightforward commission evaluation process.
The scheme is expected to open doors to non-EU startups looking to grow in and beyond the EU. Along with a streamlined visa process, these startups will also benefit from Lithuania’s vibrant startup ecosystem and state-of-the-art infrastructure. In return, the knowledge and new perspectives they will bring will benefit local startups.
“We see startups as an integral part of an innovative economy,” says Mindaugas Sinkevičius, Lithuania’s Minister of Economy. “So, we open our doors to talent that will both embrace and contribute to our 320-strong startup ecosystem.”
This year’s LOGIN Startup Fair, an annual 6,000 strong tech conference, will be focused on the Startup Visa program and expansion to Lithuania. The event will take place in Lithuania’s capital Vilnius on the 24-25 of May. In preparation for the event, its organizers, Startup Lithuania, will be holding a series of roadshow events and visiting cities such as St Petersburg, Kiev, Minsk and Tel Aviv to promote the upcoming LOGIN Startup Fair and the new startup visa scheme.