09 Mar 2023

Reasons to start a business in Lithuania

Lithuania is a country in Northern Europe that has emerged as a hub for foreign investment and a great place to do business. Lithuania has a stable economy and is an attractive destination for entrepreneurs and investors looking to expand their businesses. In this article, we will discuss the reasons why it is worth opening a company in Lithuania.

  1. Strategic location and access to markets

Lithuania is strategically located in Northern Europe and has easy access to the markets of Western and Eastern Europe. Lithuania is a member of the European Union, which makes it easier for companies to trade within the EU. Lithuania also has well-developed transportation infrastructure, including modern airports, seaports, and highways, which makes it easy to transport goods and services.

  1. Easy company formation process

Lithuania has made it easy for entrepreneurs to start a business. The company formation process is simple and can be completed within a few days. The government has also introduced various incentives to attract foreign investors, including tax breaks, grants, and subsidies.

  1. Low taxes

Lithuania has a low corporate tax rate of 15%, which is one of the lowest in the European Union. This makes it attractive for businesses that want to reduce their tax burden. Additionally, Lithuania has a simplified tax system, which makes it easier for businesses to comply with tax regulations.

  1. Highly skilled workforce

Lithuania has a highly educated and skilled workforce. The country has a strong emphasis on education, and the government invests heavily in training programs to ensure that the workforce remains competitive. Lithuania also has a high level of English proficiency, which makes it easy for international companies to communicate with their employees.

  1. Startup-friendly ecosystem

Lithuania has a thriving startup ecosystem, with several co-working spaces, accelerators, and incubators that support startups. The government has also introduced various initiatives to support startups, including funding programs, mentorship, and networking events.

  1. Quality of life

Lithuania is a great place to live and work. The country has a high standard of living, and the cost of living is lower than in other European countries. The country also has a good healthcare system, a low crime rate, and a clean environment. Additionally, Lithuania has a rich culture and history, with many attractions and festivals that make it a great place to visit.

In conclusion, Lithuania is an attractive destination for entrepreneurs and investors looking to expand their businesses. The country has a stable economy, a strategic location, a highly skilled workforce, a startup-friendly ecosystem, and a low tax rate. Additionally, the quality of life in Lithuania is high, making it a great place to live and work. If you are considering starting a business in Europe, Lithuania is definitely worth considering.