“Green corridor” for large-scale investment projects

2021-01-26

The package of investment and corporate income tax laws offering a new instrument for attracting large-scale investment projects has been adopted by the Parliament of the Republic of Lithuania. The initiative aka the ‘green corridor for large-scale investment’, provides a much faster and simpler establishment for investors as well as incentives for investor-hosting municipalities. It is a regional development-oriented initiative aimed at creating jobs for citizens and increasing regional competitiveness.

Under the new package of laws, the investors will be incentivised to invest in more remote localities of Lithuania. In these localities, the threshold for becoming a large-scale investment project will be lower than in capital Vilnius. The municipalities will be incentivised to prepare territories in advance because they‘ll be subject to Government grants up to 5% from the investment projects CAPEX value. It is expected to help reduce income inequality and social exclusion.

Eligible Projects:

– Manufacturing
– Data processing
– Internet server hosting

Project criteria:

– Investment of ≥ EUR 20 M CAPEX (In Vilnius invest ≥EUR 30 M CAPEX)
– Creating ≥ 150 FTE (in Vilnius employ ≥ 200 FTE)
– Employee retention for ≥ 5 years

Benefits:

– Project of national significance
– Governmental project coordinator
– 0 % corporate tax for 20 years
– Rapid construction permits
– Streamlined migration process
– Administrative decision in 3 days
– Tailored study programmes
– ≥ EUR 100 M CAPEX extra incentives
– Simplified territorial planning
– Faster infrastructure development

 

Source: eimin.lrv.lt

For more information about Green corridor click here

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