Lithuania

General Information

Advantages:

no taxes on dividends paid on foreign investments
member of the WTO and has ratified most international treaties
investment laws conform to European Union standards
crypto-friendly jurisdiction

Disadvantages:

it is expensive to start a business in Lithuania
small amount of venture capital in the country
bureaucracy
any entity established by foreign citizens must employ at least three Lithuanians or permanent residents of Lithuania

Lithuania, located in Eastern Europe along the Baltic Sea, is bordered by Latvia to the north, Belarus to the south and east, Poland to the south, and Russia (Kaliningrad district) to the southwest. The capital of Lithuania is Vilnius. The official language is Lithuanian, and the currency is the euro (EUR).

Lithuania is a part of the common EU market, ensuring unrestricted movement of goods, services, capital, and dividends within the EU. The financial system is resilient, and fiscal positions stabilized after a long period of deficits and rising debt. The country maintains world-leading information and communication technology (ICT) resources and infrastructure. All of the most up-to-date ICT technologies are fully implemented and functioning across the country.

Lithuania is a member of the European Union, the Council of Europe, eurozone, Schengen Agreement, NATO and OECD. It is also a member of the Nordic Investment Bank, and part of Nordic-Baltic cooperation of Northern European countries.

Big IT companies that operate in Lithuania include Charlie Oscar, Game Insight, WIX, Devbridge Group, Intermedix, Revel Systems.