Home
Blog
About us
Partners
Digital magazine
Subscribe
Contact us
EU focus
Finance
Technology
Business
EU member profiles
Leaders
EUcommerz.com
Web
Lithuania business environment
Doing business in Lithuania
KEY FACTS

Lithuania has grown on average 8% per year over the last four years, driven by exports and domestic consumer demand. Despite Lithuania’s EU accession, Lithuania’s trade with its Central and Eastern European neighbors, and Russia in particular, accounts for a growing percentage of total trade. Privatization of the large, state-owned utilities is nearly complete. Foreign government and business support have helped in the transition from the old command economy to a market economy.(CIA World Factbook)

Currency: LTL
Key exchange rates:
Interest rate: 3%
Current inflation: 11%
Inflation target:
Tax rate: 19%

Major Lithuanian owned companies:

Baltijas Shipbuilding Yard
Baltija is one of the biggest shipbuilding yards in the three Baltic States (Lithuania, Latvia, Estonia) offering a full range of shipbuilding services and facilities.

FIRST STOP
Banking
»
Bank of Lithuania
Bank of Lithuania is the central bank of Lithuania. Its principal role is to sustain price stability.
»
Bank SNORAS
SNORAS is one of the largest banks in Lithuania, and its main operations include retail and corporate banking, investment banking and corporate finances, and the development of banking group companies’ services.
Legal
»
Lideika, Petrauskas, Valiūnas ir partneriai LAWIN
One of the leading and largest law firms in Lithuania and the Baltic States. The firm provides services in all major fields of business law and is distinguished by high-quality standards, extensive experience and leading specialists in Lithuania. The firm is a member of LAWIN – a group of the leading Baltic law firms.
»
Hough, Zulys & Partners
Hough, Zulys & Partners is an international law firm, established in 1995, that provides legal counsel and advice to legal entities and individuals interested in transacting business or obtaining legal representation in the Baltic states, Estonia, Latvia and Lithuania; and in Ukraine, Russia and Poland.
Accounting
»
KPMG
KPMG is one of the leading professional services firms providing audit, tax and advisory services in the Baltic States and Belorus. KPMG offers industry specialisation in areas including finance, construction, transport and communication.
»
FinMakras
A capital audit company which provides the services of audit, accountancy and taxing control. In the company you can find auditors and accouters who are real professionals in this range and work not only in domestic but also in international companies.
Arbitration
»
Arbitration in Lithuania
Vilnius Court of Commercial Arbitration is an attractive alternative to solve both national and international commercial disputes in a confidential way. Usually the arbitration procedure consumes less time and cost than the litigation in national courts.
EUROPEAN BUSINESS ENVIRONMENT OVERVIEW
The full list of the EU member states

Special Feature
Recession survival: keeping your business afloat
The steps your business can take to fight the economic downturn.
EU member focus
Belgium
This modern, private-enterprise economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. With few natural resources, Belgium must import substantial quantities of raw materials and export a large volume of manufactures, making its economy unusually dependent on the state of world markets. Roughly three-quarters of its trade is with other EU countries. (Source: CIA World Factbook)













Lithuania

Flag

Map
Capital: Vilnius
Official languages: Lithuanian, Russian
Government: parliamentary democracy
EU accession: 2004
Area: 65,300 km2
Population: 3,565,205 (July 2008 est.)
Internet TLD: .lt
Calling code: +370


EUROCHAMBRES
Eurochambres, the European Association of Chambers of Commerce and Industry, is one of the key representatives of business to the European institutions. It voices the interests of over 19 million member enterprises in 45 European countries through a network of 2000 regional and local Chambers represented by 45 national - and one transnational - organisations. More than 90% of these enterprises are small or medium enterprises, with chamber members employing over 120 million employees.

Eurochambres is the sole European body to serve the interests of every sector and size of European business - due to the multi-sectoral membership of Chambers - and the only one so close to business, as a result of the Chambers’ regional focus.
http://www.eurochambres.eu
LITHUANIA CHAMBER OF COMMERCE
The main objective of the International Chamber of Commerce (ICC) is the preparation of recommendations for international economic politics, the representation of members and their interests on international scale, stimulation of effective collaboration, providing practical and expert assistance and so on.

Currency data courtesy coinmill.com