Lithuania streamlines investment project procedures

As of November 1, new laws initiated by the Ministry of the Economy and Innovation and adopted by the Lithuanian parliament have come into force, establishing one of the fastest environments for implementing investment projects in the region. This marks another step forward for Lithuania, where large-scale investments can now begin within a few months and be completed within one to two years.

“Attracting high value-added foreign investment is one of the ministry’s key priorities. By creating a particularly fast and business-friendly environment, we can more easily ensure the creation of high-quality jobs and make Lithuania more attractive for investors thanks to simplified establishment procedures,” said Minister of the Economy and Innovation Edvinas Grikšas.

The changes that took effect on November 1 ensure faster and clearer decision-making: processes are reduced by at least half, and construction procedures are simplified. These rules also apply to investment projects developed within Free Economic Zones (FEZs), the ministry reports.

The system for applying corporate income tax incentives has also been updated – they now take effect from the moment project results are achieved, rather than from its start. This provides a significant boost for long-term investments.

While the procedures have been accelerated, environmental impact assessments remain mandatory, ensuring the protection of public interests.

According to BNS and LRT, the law package also creates a favorable framework for national and foreign defense-related investments through a so-called “green corridor,” which reduces barriers and simplifies land use and construction permitting for defense industry projects.

Institutional changes are also taking place from November 1: the national investment promotion agency Invest Lithuania becomes the main coordinator for major investment projects. The agency will not only advise investors but also actively mediate between institutions, monitor deadlines, and propose systemic improvements.