Why Invest?

Lithuania is the least expensive country to do business in the new EU-10 states. Lithuania pursues a low-tax policy. Lithuania’s tax-to-GDP ratio in 2004 was 28.7%, the lowest in the EU.

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Market Report

We forecast that the property prices will rise in the coming years.

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Economic Overview

Lithuania, along with her Baltic Neighboring countries, has a booming emerging economy with well structured and modern system of finance. The Lithuanian economy is growing at a rate of between 6-9% with low inflation and stabile interest rates. There is strong real wage growth in the region of over 7% per year, with a stable currency. Introduction of the Euro will bring exchange rate stability for foreign investors, boosting inward foreign direct investment. (Lithuania’s currency is already tied to the euro and joined the Exchange Rate Mechanism II (ERM II) in June 2004, accordingly the EURO is set to replace litas in 2007.

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Visa/Residency Issues

Passport required.  Visa not required for tourist/business stay of up to 90 days.  For longer stays, (e.g. employment, research, study, training) obtain temporary residence permit before arrival (processing time of the application for the first temporary residence permit is up to 6 months). All visitors to Lithuania must have a valid health insurance policy or contract that covers all health expenses during their stay. 

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Getting to Lithuania

An approximate flight time to Vilnius from London is 2 hours 50 minutes. Vilnius airport is just 5 km from the centre of the city, so getting to town is quick and inexpensive.

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Fees & Taxes

• Lithuania property the buyer pays 0.5–1% of the purchased value as a notary and legal registration fee. The typical broker’s fee is 1.5 – 3.0%.
• 18% VAT is charged but this will always be included within the asking price.
• Overall buying costs are around 3%, which is around the lowest in the world.

Lithuania

 Basic Information

Lithuania Overview

Lithuania, officially the Republic of Lithuania is a country in northern Europe. The largest of the three Baltic States situated along the Baltic Sea, it shares borders with Latvia to the north, Belarus to the southeast, Poland and the Russian exclave of the Kaliningrad Oblast to the southwest. Lithuania has been a member state of the European Union since May 1, 2004.

Average Property Prices

Buying Process

• There are no restrictions on foreigners owning property in Lithuania, but permission must be granted by the local metropolis for private individuals to purchase land though there are hardly ever problems with land transactions, some areas may be of implication and unavailable.
• It should be noted that companies formed in Lithuania are free to purchase non-agricultural land.
• As this process is taking place the buyer and seller can sign official documentation in the presence of a notary, who then collects the money from the buyer and keeps hold of it as a third party (an escrow-like system) until confirmation of the land title transfer comes through when it does, the payment is transferred to the seller and any remaining fees can be settled.