Schiff Sovereign's Take on Lithuania
Bias alert: we have a strong affinity for Lithuania. Two of our team members hail from the country, and we used to organize our entrepreneurship camp there every year.
Still, we think that our fondness of the country is deserved. (To be clear – this section was not written by a Lithuaninan.)
For starters, the country’s capital, Vilnius, is culturally rich, peaceful and lovely. The restaurants, bars and nightlife scene are very sophisticated there. And it is home to an increasingly international community.
Nature lovers, especially, will enjoy Lithuania. Whether you’re visiting its lakes, the countryside, or the beach by the Baltic sea, the scenery is idyllic (in the summer months, that is).
We like the Lithuanian people, too. They’re honest, intelligent and highly educated.
From a business perspective, it’s a reasonable place to consider as well. While the personal income tax rates are not the lowest in the region – starting at 20% – the government tries hard to be pro-business.
However, labor is not as cheap in the country as it used to be.
In recent years, Lithuania has become a regional hub for tech startups. The neo-bank Revolut, for example, chose to obtain its first banking license in Lithuania for a reason. And in general, the European fintech sector is increasingly basing itself in Vilnius.
One potential downside to mention is Lithuania’s climate. Cyprus it is not. Winters can be cold and gloomy there, however summers are generally pleasant. But if you like four real, strongly defined seasons, then Lithuania should fit the bill.
And since Lithuania is part of the Schengen Area, you can easily escape to Italy or Spain during the winter months.
Also, the country is home to a Citizenship By Ancestry program. Explore it if you have any Lithunaina blood running in your veins.
Still, we think that our fondness of the country is deserved. (To be clear – this section was not written by a Lithuaninan.)
For starters, the country’s capital, Vilnius, is culturally rich, peaceful and lovely. The restaurants, bars and nightlife scene are very sophisticated there. And it is home to an increasingly international community.
Nature lovers, especially, will enjoy Lithuania. Whether you’re visiting its lakes, the countryside, or the beach by the Baltic sea, the scenery is idyllic (in the summer months, that is).
We like the Lithuanian people, too. They’re honest, intelligent and highly educated.
From a business perspective, it’s a reasonable place to consider as well. While the personal income tax rates are not the lowest in the region – starting at 20% – the government tries hard to be pro-business.
However, labor is not as cheap in the country as it used to be.
In recent years, Lithuania has become a regional hub for tech startups. The neo-bank Revolut, for example, chose to obtain its first banking license in Lithuania for a reason. And in general, the European fintech sector is increasingly basing itself in Vilnius.
One potential downside to mention is Lithuania’s climate. Cyprus it is not. Winters can be cold and gloomy there, however summers are generally pleasant. But if you like four real, strongly defined seasons, then Lithuania should fit the bill.
And since Lithuania is part of the Schengen Area, you can easily escape to Italy or Spain during the winter months.
Also, the country is home to a Citizenship By Ancestry program. Explore it if you have any Lithunaina blood running in your veins.
