When deciding what business to start in Lithuania, attention should be paid to the main foreign investors. Foreign business need stability, effective infrastructure, talented and motivated staff, and Lithuania understands these needs very well. Business sector of Lithuania meets all the necessary EU standards; numerous tax agreements were signed. Thus, doing business in Lithuania provides access to major international markets. It is not surprising that over the years of independence, Lithuania has become a popular jurisdiction among the foreign companies.
Thus, Philip Morris was the first major foreign investor who started their business independent Republic of Lithuania.
Recently, Swedish IKEA and the German retail chain Lidl have been doing business in Lithuania for a couple of years refusing the development plans in Latvia and Estonia.
Lithuania is attractive not only for retailers, but also for financial sector. Western Union, the company performing legal compliance services, financial accounting, information technology, marketing, human resource management, has recently started its business in Lithuania. Moreover, SEB being a leading Nordic financial group providing financial advice and a wide range of financial services has been doing business in Lithuanian market for many years.
Lithuania is among the leading EU countries in IT field. The advanced position of Lithuania in this area is due to the world’s fastest Internet and most advanced IT infrastructure among the countries of Central and Eastern Europe.
In deciding what business to start in Lithuania, it should be noted that biomedical and pharmaceutical industry is one of the most advanced among the countries of Central and Eastern Europe. It makes Lithuania a recognized global player in life sciences and pharmaceutical industry.
In addition, foreign companies doing business in production area also take a significant place. The combination of deep professional knowledge, high standards of quality and optimal logistics enabling quick access to the CIS, Scandinavia and Western Europe, highly developed infrastructure makes Lithuania an ideal place to start a business.