Meet-up, team-up, start-up,speed-up and grow-up in Lithuania

The World Bank’s Doing Business Report 2014 ranked Lithuania 11th in the world for the ease and speed of starting up a business. And it is in the ICT sector that growth in start-ups has been most dramatic.

Budding entrepreneurs can attend more than 100 annual accelerator events, including regular niche and medium-sized events; hackathons, gamejams and appcamps.

There are also major international conferences like Sillicon Valley Comes to the Baltics, Login, and Start-up Monthly, which attract business angels and investors from the world’s top start-up hot spots, like Silicon Valley, London and Tel-Aviv.

These experienced entrepreneurs also share their know-how and expertise, fostering a creative can-do culture. Since 2007, funding for start-ups has increased 10 fold. Further links and support are nurtured through Lithuania’s widespread diaspora community and forged by the country’s successful start-up companies.

Enterprising agencies inside Lithuania are constantly finding innovative ways to encourage, develop and support the start-up scene.


Quality and cost combined

Lithuanian employees tend to be loyal to employers. Being a stable foreign investor in Lithuania and offering a career in a global organization has been an advantage for hiring and retaining employees.”

Cynthia J. Pasky, President & CEO of Strategic Staffing Solutions

Lithuania offers the highest quality talent and infrastructure at costs that will suit companies of all sizes. It has the fourth lowest rate of corporate tax in the EU. In areas like software development, R&D expenses can be deducted three  times.

Furthermore, operating costs – encompassing salaries, office rents, communications and connectivity – are much more affordable than comparable European rivals. Easy
staffing and low attrition levels for ICT specialists will help your company minimize recruitment costs.

Great conditions for profitability in Lithuania will catalyse and sustain growth levels for your business. Foreign Policy magazine’s Baseline Profitability Index rates it 2nd in the EU and 16th globally as an investment location, noting high levels of investment returns and value preservation.


Quick and simple

Lithuania is a genuinely business-friendly environment. The people are co-operative, communicative and always willing to help. It all makes the process of setting up so much easier.

Boaz Inbal, External Development Centres Manager

Lithuania’s streamlined administration gives companies more time to do what they do.

From setting up to day-to-day running, administering your business has never been faster. You can be up and running in two days, and Lithuania’s fully operational e-governance platforms, ranked top in the EU for eGovernment, save time and money for your business.

Fully compliant with EU legislation and business regulations, Lithuania ensures businesses benefit from a strategically-advantageous location which provides access to EU and CIS markets, and constitutes a stable and affordable base from which to explore new market opportunities around the world.


Source: Invest Lithuania