Back

Economy

Facts:

4th best fintech location in the world

24 hours to open a business

11th place for Ease of Doing Business

85% of professionals speak English

1st in the EU for Internet accessibility

Growing innovation ecosystem

The financial technology, life sciences, laser, IT and startup ecosystems that Lithuania is home to are helping address humanity’s health, medical, scientific and economic problems. Lithuania is first in the European Union for the number of licenced fintech companies. Lithuanian lasers are used by NASA, CERN and world-famous companies like IBM, Hitachi, Toyota and Mitsubishi. And for life sciences discoveries, we have earned the famed Kavli Prize.

It’s easy to do business in Lithuania.

In Lithuania, bureaucratic processes are shorter and decision-making faster than elsewhere. With an electronic signature, you can open a business here in 24 hours. Lithuania is also becoming a top choice for foreign investors due to its favourable infrastructure: it ranks first in Europe for internet accessibility and has one of the fastest public wireless speeds in the world. In 2020, Lithuania was 11th on the World Bank’s Ease of Doing Business ranking.

A great place to innovate

An attractive regulatory and business environment and a government that’s responsive to investors’ needs create good conditions for innovation to flourish. Lithuania is working hard to be as appealing as possible to investors. In the most recently years, the country has attracted companies like Hella, Hollister and Continental, and earned a name as Europe’s fintech capital. The startups operating in Lithuania – there are over a thousand today – unanimously say the country is a great place to try things out and experiment.

World-class talent

Lithuania has skilled, multilingual and motivated professionals with a broad, open-minded view of the world and the drive to tackle global challenges. Lithuanians are known around the world as excellent problem solvers and team players. Investors describe Lithuanian employees as entrepreneurial, open to innovations, eager for change, and creative. They are receptive to technological innovation and eager to learn and grow.

@M. Jovaiša