Support with opening a business and obtaining a residence permit in Lithuania for an entrepreneur from India
ClientEntrepreneur from India
Duration8 months
FormatWith the client present in person
Client request
Task: Launching a business in Lithuania and obtaining a residence permit on the basis of business activity
An entrepreneur from India approached TET interested in obtaining a residence permit in Lithuania on the basis of running a business. To achieve this goal, the company had to have genuine operations: a business plan had to be developed, a legal entity established, premises found and staff recruited. The client chose to open a playroom in Lithuania. The TET team’s task was to support the launch of the business and the subsequent obtaining of the residence permit, taking into account the activities of the newly created company.
Our solution
The TET team proposed implementing the project in stages, combining preparation of the business for launch with support through the migration process. TET staff developed the business plan. The client established a Lithuanian company in the form of a UAB (uždaroji akcinė bendrovė), contributed capital of €30,000 and opened the playroom. In addition, the team helped find suitable premises, hire local staff and negotiate with partners. The support thus covered both corporate matters and the practical tasks of organising the running of the business.
How we did it
1. Preparing the business plan
The first stage was developing a business plan for opening the playroom. The document defined the line of business of the future company and served as the basis for the further organisation of the project. Preparing the business plan made it possible to link the client’s intention to engage in business activity with a specific business in Lithuania.
2. Establishing the UAB and contributing the capital
The client established a UAB and contributed capital of €30,000. The newly created company became the legal basis for opening and running the business. This stage made it possible to move from planning to the practical organisation of the playroom’s operations.
3. Finding premises and working with partners
The TET team helped the client find premises suitable for the chosen line of business and negotiate with partners. This support helped the entrepreneur resolve organisational matters on the local market and prepare the business for operation.
4. Help with hiring local staff
As part of launching the project, TET assisted with hiring local staff. Building the team was part of organising the company’s actual operations, alongside preparing the premises and establishing working relationships with partners.
5. Running the business and obtaining the residence permit
After the launch, the playroom began operating. According to the project timeline, the client obtained the residence permit after seven months of the company’s operations. The total period of support, including preparing and launching the business, was eight months. The project was carried out with the client present in person.
Result
As a result of the project, the entrepreneur from India opened an operating business in Lithuania and obtained a residence permit on the basis of business activity. As part of the support, a business plan was prepared, a UAB was established with capital of €30,000, and assistance was provided with finding premises, hiring local staff and negotiating with partners. The total implementation period was eight months. The client received organisational support in entering the Lithuanian market and assistance all the way from setting up the company to obtaining the residence permit.
Services used