Useful information for businesses in Lithuania

Information last updated on 29 September 2021

In these trying times, Invest Lithuania continues to co-operate pro-actively with investors. Our team has collected information regarding the challenges and issues faced by investors during the COVID-19 (coronavirus) pandemic, including issues related to migration, state support, or the lack of relevant information provided in English. To provide a clearer picture for our investors and partners, we have addressed these questions to the competent authorities and compiled the information gathered. The result is the following FAQ, which is being continuously updated, as the circumstances and rulings change.

We hope this will be a valuable resource, and if you feel there are any additional areas you would like us to cover, please feel free to contact us.

Frequently asked questions

1. Support measures for business
Due to the ongoing nationwide state of emergency in Lithuania, the Lithuanian Government is reviewing and updating the financial support measures for businesses. Please follow our updates to be the first to hear about them.
  • 1.1. Financial measures offered by Investment and Business Guarantees (INVEGA)

    At the moment, INVEGA provides the following financial measures for business during the COVID-19 pandemic:

    • Individual guarantees. INVEGA guarantees the repayment of the first instalment of the loan to the credit institution up to 80 %. The remainder is covered by collateral offered by the borrower. An individual INVEGA guarantee can be used both for lending to businesses under market conditions and for taking out any soft loan facility administered by INVEGA (applications are open until 15 October 2021).
    • Portfolio guarantees to financial institutions for business loans and leasing transactions. Targeted at companies facing shortages due to the COVID-19 outbreak. This instrument reduces financing risk and thus facilitates the availability of loans and leasing to improve corporate liquidity.
    • Crowdfunding loans known as Avietė enable small and medium-sized enterprises operating in Lithuania to borrow through crowdfunding platforms.
    • Loans for Providers of Accommodation and Catering Services. Loans are aimed at reducing the impact of the COVID-19 pandemic on the tourism business by providing funding in the form of loans to cover the essential expenses of accommodation service providers who provide qualifying accommodation services, and of business entities that provide catering services.
    • Loans for Travel Service Providers. Loans aimed at providing funding in the form of loans to tour operators to allow them to issue refunds to tourists who have had their trips cancelled as a result of the COVID-19 outbreak.
    • INVEGA provides several different types of loans for small and medium-sized businesses.

    You will find more detailed information regarding the financial measures provided by INVEGA here.

  • 1.2. Financial measures offered by the Government

    The Government approved the following additional financial measures for businesses:

    • Compensation to accommodation providers for the third night (applications are open until 8 November 2021). This financial measure is aimed at accommodation providers. It gives tourists who have received a special code by means of marketing the right to contact participating accommodation providers and receive a third consecutive night free of charge. For details, please visit this page (page currently only in Lithuanian).
    • Alternative Lending for Businesses. Loans enable small and medium-sized entities (hereinafter – SMEs) to obtain the necessary financing for their business through alternative finance providers. Loans may be granted to finance investments and/or to supplement a shortage of working capital, provided that such financing is related to the launch of new business activities by the SME or to the maintenance, strengthening or development of its existing activities.
    • Business Support Fund. The Business Support Fund invests in medium-sized and large enterprises whose activities have been affected by the COVID-19 outbreak and whose cessation or disruption may affect the sustainability of other businesses, as well as having significant socio-economic consequences. The Business Support Fund is managed by the State Investment Management Agency VIVA. More information can be found here.
  • 1.3. Contact details