How to open a business in Vilnius? What is the best business to start in Lithuania? Is it good to open business in Vilnius? How to prepare all the documents for the company registration? Or you want to buy an already established company (i.e. running business for for sale)? We can help you to find the answers to all these questions.
Our company is seeking to be the best team in helping to open business in many countries and cities in Europe. We want to provide the best service and consultancy in what business to start and how to open business. As we are highly-skilled professional team with more than 10 years of experience in company registration, we are ready to help our clients with the company formation from zero or buying an already established company (i.e. running business for sale).
Many entrepreneurs are looking for new business opportunities in foreign countries – they are interested in starting a business in the country where they would be able to expand business‘ activity and to enter new markets. Also, it is important for cost saving reasons – very often starting a new business or expanding the existing one in EU country may optimize taxes for your business significantly. Therefore, if you also want to start your business in one of the countries of European Eunion, it would be advisable to think about company registration in Lithuania.
Lithuania is one of the most attractive countries in all the Europe for doing business in many fields. Starting a business in Lithuania may definitely create an additional solid value to your existing business or the new one. The country is attractive for the foreign investors due to some reasons:
- The country belongs to EU and has common currency (Euro) with many countries in EU.
- Lithuania has a convenient geographical location, therefore, it is easy to get anywhere in Europe.
- The country has beneficial tax and new technologies environment that may create an additional value and competitiveness to your business.
- The country has favorable economic environment for doing various kinds of business.
- All the convenience and other favorable conditions for your company registration (the country is ranked 21st in the world for ease of starting a business).
Moreover, Lithuania has been recently ranked as the most favourable country in EU to start a new business, and the capital Vilnius is among 5 least expensive EU capital cities to live in. Vilnius is one of the most beautiful cities in all the Europe and the city is recognised as the economic, financal and commercial centre of the country. So, if you are interested in starting a business in Lithuania, we would suggest the capital city Vilnius for your company formation. Vilnius is one of the most beautiful and dynamic cities in all the Europe, and very attractive for new business to start.
In 2015, Vilnius has been elected as one of the most attractive with the best destination capital for establishing shared service centres and outsourcing across all Central and Eastern Europe region. Vilnius has attracted many foreign investments – during the past few years many international worldwide known and profitable companies has transferred a big part of their services to this city – companies like Western Union, Danske Bank, SEB bank, Swedbank, AIG, Nasdaq, CSC, CITCO, Ahlstrom and Barclays. One of the reasons for such investments is that especially Vilnius is attracting highly-skilled and well-educated professionals who are also able to speak several foreign languages (like English, Russian, German, etc.). According to 2016 statistics, there were 54 shared service centres in all Lithuania – mostly in finance and accounting services (24% of total) and IT sector (22% of total). Most of the invested capital comes from: Sweden, Netherlands, Germany, Norway, Poland, Cyprus, Finland, Estonia and Denmark.
Vilnius is the largest city and centre of Lithuania‘s political, business and cultural life. According to the Statistics Department in Lithuania, Vilnius accounted for about 40% of all Lithuania‘s GDP in 2015. Vilnius is ranked first according to the foreign direct investment and 71% of overall investment in Lithuania is concentrated in Vilnius. Most of the international companies, ranging from manufacturing, telecommunications, finance and insurance services to IT and telecommunication companies have their subsidiaries or offices in Vilnius. Setting up business in Vilnius may offer for you and your business new opportunities and benefits:
- business-friendly environment for your company formation;
- highly qualified and skilled human resources;
- perfect infrastructure (airports, road and railway, public transport);
- convenient geographical location;
- economic development with growing purchasing power of goods and services.</li
Moreover, Vilnius may be favourably compared to the neighbouring countries for its relatively low real estate prices and reasonable rates of housing and office lease. Another advantage is that Vilnius is a constantly increasing city in population and it is one more indicator that the city is very attractive even for small business. Besides, Vilnius has the lowest unemployment rate in Lithuania (approx. 6%).
When you are interested in doing business in Vilnius, it is very important to identify the best industries for new business to start. At the very beginning you might face many questions on what is the best business to start in Lithuania or what is good business to have in Lithuania. Therefore, our team is always ready to give you some good advice on what is the best business to buy and how to start the business in Vilnius, what are the business opportunities in one or another sector.
Especially Vilnius is full of business opportunities if you want to open business in manufacturing or providing some kind of service. Vilnius is attractive due to high-skilled employees and business environment for small business to very big companies. Some of the most valuable sectors for starting your business in:
Information and communication technology sector. This sector is one ot the highly prioritised and most promising in Lithuania. The fastest public Wi-Fi in Europe, well developed modern technologies (like 4G mobile communications infrastructure) and the greatest fibre-optic (FFTH) Internet network penetration in Europe Vilnius and all the country very attractive for the foreign investments.
Engineering industry. Industry is highly competitive in cost and quality. Production supplied by Lithuanian engineers are distributed to many big international companies like NASA, Boeing, BMW, Siemens, etc. The sector grows by 15% every year since 2009.
Biotechnology. The researches in this field are executed in Lithuania and the well developed production is applied in the fields of medicine, chemistry, pharmacy, agriculture, etc. Most of the production is exported (approximately 80% of the created production) to more than 70 countries. The sector grows by 20% every year.
Laser technologies. Lithuanian production accounts for more than half of the global market of picosecond laser speedometers. Nearly 100 countries are importing more than 80% of Lithuanian laser production. The sector grows by 15% every year.
Renewable energy. Sector became increasingly important for Lithuania‘s export, especially clean technology industry. The potential of this field is strenghtened by the world-class achievements in electronics and increasing interest of businesses.
To the above mentioned technological industry sectors, there are lots of other business opportunities in Vilnius – like tourism, hospitality industry, restaurants, coffee shops. Garment, beauty and jewelery businesses will also find the client. Even though that Vilnius has many visitors – from travelers to business people during the whole year, there are still much space to grow for the tourism sector and new businesses generally.
So, if you are looking for new markets for the company registration and you are interested in how to start business in Vilnius, our team is ready to answer all your questions about the company formation in Vilnius or any other city in Lithuania. Moreover, we accordingly may offer you to buy a company from a wide range alternatives – from the newly established company (with your prefered company name and all the necessary documents) to the already established businesses (i.e. with no business running, with the running business in the past or a currently running business for sale).