In the year 1918, the Grand Duchy transited to become the Republic of Lithuania, after more than 700 years of monarchy. Lithuania is part of the European Union (EU), European Economic Area (EEA), and NATO and is one of the fastest-growing economies in Europe.
The constitution of Lithuania does not restrict Indians and other third-country citizens from owning property in the country as long as it is not recommended by the state for agriculture use or forest. Unlike many other EU countries, Lithuania does not offer residence permits to foreign property owners but a multiple EU visa is awarded; bearers often apply for a residence permit on other bases.
Indian connection Lithuania
Anthropological studies suggest possible links between Lithuania and Hinduism/Sanskrit, until converting to Christianity in the early 13th century. Even the Lithuanian language resembles Sanskrit. Today, more than 1000 Indian nationals reside in Lithuania. Many of these families took the property ownership route to permanent residency and later on became citizens of Lithuania/EU.
Process of acquiring property in Lithuania
As stated earlier, there are no restrictions to own property by foreigners except for agricultural lands and forests. The process for the purchase of property has multiple steps, initiated by scrutiny and verification of the cadastral and registration status of the property. This document is a mandatory prerequisite for a sales agreement. The first step is initiated by the buyer and usually takes seven working days normally.
The next step is drawing up a sales agreement; naturally the seller and the buyer both need to agree and sign the agreement. Usually, two original sales agreement documents are printed on a court stamp paper each remaining with either party. Later on, the same agreement needs to be verified and attested by a notary public.
The last step, not mandatory though, is the registration of the sales agreement in the Real Estate Register. The said office stamps both prints of the agreement and submits a copy in the records. Registration of the sales agreement protects the rights of the buyer and seller while ensuring the duties are performed by both parties.
The below table displays state fees involved in various steps:
| S.no | Fee type | Valuation cap for property’s worth | Amount (Euros/percentage) |
| 1. | Notary public | Up to EUR 8,700 | 15 |
| 2. | Notary public | 8700 – 28900 | 86 |
| 3. | Notary public | Above 28900 | 288 |
| 4. | Registration for building | Up to 14,500 | 37.65 |
| 5. | Registration for building | 14,500 – 231,700 | 0.05% on band over 14,500 |
| 6. | Registration for building | 231,700 – 868,900 | 0.05% on band over 231,700 |
| 7. | Registration for land | Up to 2,900 | 23.17 |
| 8. | Registration for land | 2,900 – 29,000 | 0.30% on band over 2,900 |
| 9. | Registration for land | 29,000 – 300,000 | 0.30% on bands over 29,000 |
| 10. | Registration for land | Above 300,000 | 7,240 |
Selecting a property to buy
The selection process is the most laborious and mentally exhausting step while putting your hard-earned money into property. Especially for an Indian buying property abroad involves lots and lots of patience and research. The first step for buyers is to have clarity as to the purpose of obtaining the property. If the purpose is to obtain a multiple EU visa and subsequently settle abroad, then properties that promise high yields may be earmarked.
Buyers who wish to visit Lithuania every now and then may want an apartment a bit further from the city center as that would be cheaper yet accessible to urban amenities. For nature lovers, retirees, and pleasure travelers, the suburbs may be the best choice. The suburbs of Lithuania offer basic amenities such as internet, running water, sewage, electricity, and telephone services. Lastly, those who plan to earn from the rentals and property trading may look for places within the city centers, areas that are most developed, probably commercial spaces that can be used for residence as well as offices and display stores, etc.
A list of popular and well-reputed real estate brokers is given below. Note that the buyer beware rule applies, hence buyers should be vigilant and research well before investing.
- Capital Realtors
- Capital Commercial Realtors
- Hibora Realtors
- Crew Estate
- Domlidera
- Lansdale
