Lithuania speeds-up visa process for Ukrainian start-ups
New bill for simplified visa process still needs to be approved by the government
The government in Lithuania has approved amendments to the legislation that will facilitate a residence permit for entrepreneurs from states that are not members of the EU in mid-April. Ukrainians are among them. The bill must still be approved by the Lithuanian Parliament. But, with the support of the government and the business community, it will be approved before the summer, said business publication Vz.lt.
The group of certified organizations such as venture capital funds and accelerators will form the Start-up Visa Committee. It will evaluate the candidates for the right to receive a start-up visa. In the case of the positive decision, the candidates will receive a residence permit for one year, with the possibility of extension for another year. After this period, if the start-up attracts investments and creates jobs, the founders will be able to extend a residence permit.
The list of fields for which one can get the start-up visa and detailed procedure for registration will be announced after the Lithuanian parliament reforms.
These changes in the legislation are designed to help reduce the deficit of highly skilled professionals and contribute to the development of innovative directions.
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