Best Golden Visa Lawyers in Plungė

About Golden Visa Law in Plungė, Republic of Lithuania

The Golden Visa program in Lithuania provides a pathway for non-European Union citizens to obtain residency through significant investment in the country. Plungė, a city known for its business potential and scenic surroundings, is becoming an attractive destination for foreign investors seeking to benefit from residency options. Under this program, eligible individuals can receive temporary or permanent residence permits by meeting certain investment requirements, such as starting a business or investing in existing Lithuanian companies. This offers a way to live, work, and travel within the Schengen Area while contributing to Lithuania’s economic development.

Why You May Need a Lawyer

Applying for a Golden Visa can be a complex process, particularly for those unfamiliar with Lithuanian immigration laws and business regulations. Common situations where legal assistance is beneficial include drafting and reviewing investment agreements, ensuring compliance with immigration requirements, navigating tax implications, and preparing documentation for authorities. A local lawyer can help interpret legal terms, avoid costly mistakes, and represent your interests in dealings with government agencies. If your application is denied or delayed, a legal specialist can assist with appeals or alternative options.

Local Laws Overview

Several key legal aspects are relevant to Golden Visa seekers in Plungė, Republic of Lithuania:

• Investment Thresholds: To qualify, applicants must typically invest a significant sum in business or real estate, aligning with national regulations set by Lithuanian authorities.
• Business Participation: Investors may need to actively participate in the management or direct the operation of the Lithuanian business depending on permit type.
• Residency Requirements: Residency permits usually require the holder to spend a certain number of days per year in Lithuania.
• Renewal and Permanent Residency: Temporary residency granted under Golden Visa programs can often be renewed and, after a number of years, may lead to permanent residency or citizenship under strict criteria.
• Background and Source of Funds: Authorities require proof of legal income, a clean criminal record, and transparent documentation showing the source of investment funds.

Frequently Asked Questions

What is the Golden Visa program?

The Golden Visa is a residency-by-investment program allowing non-EU citizens to gain Lithuanian residency through qualifying investment activities.

Who is eligible to apply for a Golden Visa in Lithuania?

Eligibility typically requires a non-EU nationality, a clean criminal record, and fulfilling investment requirements, such as starting or investing in a Lithuanian business.

What forms of investment qualify for the Golden Visa?

Accepted investments often include company formation with job creation, purchasing shares in Lithuanian businesses, and in some cases, real estate investment, depending on the latest legislative updates.

How long does it take to process a Golden Visa application?

Processing times can vary from several weeks to a few months, depending on the complexity of the application, the volume of applicants, and completeness of documentation.

Can family members be included in the Golden Visa application?

Yes, immediate family members such as spouses and children can usually be included and receive residency permits along with the main applicant.

What are the tax implications of obtaining a Lithuanian Golden Visa?

Residents may become subject to Lithuanian tax laws, including possible taxation on worldwide income if considered domiciled. Consulting with a tax professional is recommended.

Can I travel in the Schengen Area with a Lithuanian residence permit?

Yes, a Lithuanian residence permit grants the holder the right to travel visa-free in other Schengen countries for up to 90 days in any 180-day period.

What documents are needed for the application?

Typical documents include proof of investment, business registration, valid passport, criminal record certificate, proof of legal income, and health insurance.

What happens if my application is denied?

If your application is rejected, you may have the right to appeal the decision or submit a new application with improved documentation. Legal assistance is highly recommended in this case.

Can I obtain Lithuanian citizenship through the Golden Visa program?

While the Golden Visa can lead to permanent residency after several years, citizenship requires additional criteria such as language proficiency, integration, and long-term residency.

Additional Resources

For further guidance and support related to the Golden Visa in Plungė, consider consulting the following resources:

• Migration Department of the Republic of Lithuania - Responsible for residence permits and immigration processes.
• State Tax Inspectorate - For tax-related questions, especially about residency and investment income.
• Enterprise Lithuania - Provides business registration information and support services for foreign investors.
• Local legal bar associations - Can help you find qualified immigration and investment lawyers in Plungė or nearby.

Next Steps

If you are interested in pursuing a Golden Visa in Plungė, start by consulting a local lawyer specializing in immigration and investment law. Gather all necessary documentation related to your identity, finances, and investment plans. Schedule an appointment with the relevant local government office to discuss eligibility and the application process. Always ensure your investments are compliant with Lithuanian laws before finalizing any agreements. Keep up to date with regulation changes and consider ongoing legal or tax advice to maintain your residency and investment status smoothly.