SPEAKER_00 0:00

My cousin's one of his business uh Japanese style uh pocket bowl shop. We sold it business turnover was over thirty thousand a month. Then the main requirements for this visa is uh to invest at least 28,000 euros. Tax in Lithuania right now is 16%. Once you get a Lithuanian permanent residency, you have free education, uh, you have um free healthcare as well. You don't need to pay that for that. Lithuania right now is more about the ThinkTech, because uh we have businesses like Binance establish their headquarters quarters here in Lithuania as well as Revolut.

SPEAKER_01 0:35

Yeah, it's great to talk, uh we had a fascinating discussion last time about opportunities in Lithuania. Now we're looking to talk more about business and business opportunities in Lithuania because I think the world is changing very fast, and people are considering many of the other options and destinations that they can choose to live. And right in the middle of the EU, Lithuania is such an interesting option that maybe many people don't expect or don't think about. So I'm really interested to talk to you more about that. So I think you've also got some really interesting experience starting a business in Australia and Lithuania. What would you say to people who are looking to start a business? How should they go about it? Or how do they find an opportunity to start a business? Hey Richard.

SPEAKER_00 1:21

You know, thanks a lot for uh the last uh podcast. Um uh I I really enjoyed talking to you and and you know I really enjoyed uh your questions because you know it helped you know to reveal this this uh topic greatly. With regards to the business topic, uh business is you know, business is business, business is you know business all around the world, whether it's in Australia or Lithuania, is just you know we need to adjust to different colour cultures. Because when I was you know, I started my first business when I was around 22 years old, and you know, one of my friends we just you know created uh advertising agency by reading book books because you know at that time nobody knew you know what is the marketing, and we all were just you know exploring with the reading the Kutler books or you know any other famous names, and just by doing and trying, you know, we created quite a successful company who've been doing um different kinds of uh below-the-line marketing things like PTL campaigns in store, you know, working uh the proctoring gamble, which is you know an innovative marketing uh and uh fast consuming uh goods uh uh companies. By starting first company, I didn't know anything about the business, but you know, slowly, you know, this is uh experience working in the marketing helped me to get you know some basic skills. But when I was uh 25 years old, I went to Australia and I started uh first uh cleaning business in Australia. You know, I first started cleaning cleaning business in in Australia because I was really good with people. And you know, I as I was a student, and you know, I I had great resources um to do this kind of business in Australia because businesses needed needed affordable labour. And you know, I had all of my classmates and and and and and and students and uh you know, so you know this is what I did. I just you know supplied workers uh to a company I started with uh education business in Australia because you know I noticed that many people are keen on going to study in Australia. So you know, so the same. I just first were consulting students on my personal Facebook profile because I was posting a lot of pictures from Australia and this is how I just started, and then I began running a relocation because business because at that time had many students uh come and you know and thought of you know how to help my students uh to get a certain job and help them to adjust to new culture. So I was created business after business, and then my my visa squared, and I needed to come back to Lithuania. So you know have my international education business in Australia, but then I came to Lithuania and you know I began exploring new business opportunities and and then I realized that there's a big demand for international studies here in Lithuania due to affordable studies and and you know increased numbers. And then I found that uh there's a lot of international people willing to do the business in Lithuania due to great uh residency by investment visa. So right now, you know, I see that the global environment is changing and who live in the in very unsustainable, as we can see, wool because due to war in Ukraine, due to you know the wars uh you know in some some Walmart countries. So due to this interest, you know, the business environment is changing. Some somehow Lithuania become kind of like city head for international investors and those who are willing to use Lithuania as a pathway to European Union or Schengen. So I believe you know right now Lithuania is kind of like under rather, and many of international investors are looking forward to explore this market because we have great startups uh with over a billion euros. We can see you know in the Unique worse companies like Vinted or those who are in crypto, everybody knows what is you know the Binance platform is, uh, as well as you know, you can see that you know we also have you know many, many successful restaurants for you know different kinds of you know shops. So Lithuania is very versatile and you know it's always been you know a trading pathway between East and West.

SPEAKER_01 5:45

So yeah, we can talk today a bit about what it's like. So from your experience starting a business, would you say that you found the opportunities just by doing you just how did you find the opportunities originally? Was it just like for the cleaning business? Because I know that that's a very profitable opportunity right now, but it's a challenging business. Education is also an interesting business. How did you find those those ideas? Did they just was it kind of random or or you just spotted the opportunity and then went for it?

SPEAKER_00 6:14

It was actually random. I believe in God, and sometimes you know the God is you know leading me, you know, into you know the pathway. So, you know, how I found you know about the cleaning business is just um you know a friend of mine you know told that uh you know he needs us you know some stuff for his business and uh he he asked me you know whether you know I can help uh work working power. That you know at that time I'm great with people, you know, I love people and I love connecting with people. And you know, I just asked you know a few of my you know people from the net network whether they're looking for a good job, because you know, from one side, you know, click you know, cleaning you know is kind of like you know, the job that nobody wants to do, but you know, then you're in it into it, you know. It's a very clean b b business and you know it's a well-fade business as well. And it's good for international students because they can manage, because you know, in in my company we had you know the night shifts, so the you know the students can study during the day and they can do the work you know, let's say you know from from 6 p.m. until 11 p.m. and you know they can uh get paid very good money. So usually you know the opportunities find me as as well as you know you know better location, the business, because uh, some of my students told that they're working in this area and ask a few questions like you know how much they are getting paid, what do you do, and what what are you know obstacles and you know, so circumstances you know doing that business. And then uh you know, I thought, all right, you know, I have this supply chain, you know, the students who are in need of a job. I just need to connect them, however, you know, the employers or you know, maybe I can do and manage these businesses. So, you know, that then great tools are on me, you know, international students, and you know, I just use host opportunities.

SPEAKER_01 7:56

Yeah, that's so you kind of just someone because that's actually how I started at China Emissions. My first my company in China was actually a similar way that I with all the companies I've started before. It's I've just like had a conversation with friends, and then some opportunity comes up. And it's usually not when you're trying to look for an opportunity, it just it you just kind of sometimes these ideas just come up all the time, and then you just for some reason you just choose to act on it and you see it as an opportunity. That's what happened with me. I was having a conversation with uh friends, and then they they said one of their friends is looking for help attracting international students to their law school, and so I had a conversation with them, and then we signed a contract, and then we started from there. So I think it's quite interesting because right now everything is changing, right, with AI and how the everything is kind of the labor market may be changing. I think that there's always going to be opportunities in entrepreneurship. So it's for people who want to find opportunities, it's it's really interesting. Like, how do they actually find these opportunities, right? Because it seems like there's so many of them all around. But yeah, basically you just got to take action and then you learn as you do, right? You just have to take action and learn. But it's interesting from different businesses, they have different challenges, right? Like for the that you wouldn't know about until you started it. Like, for example, like the cleaning business. I imagine it's like probably a lot. You learn quite a lot from doing that, I can imagine.

SPEAKER_00 9:23

I didn't thought that to run this kind of business is uh so easy because at that time I'd I just concentrated on commercial units and you know, to do the commercial cleaning, you know, the you know the skyscrapers. You just need, you know, only you know the few stuff, you know. The stuff you know who can you know clean bathrooms as as well as you know, that you know, uh one person who vacuum you know the floors and you know the third per person who'll do you know who'll do the test, and you just need you know a little information about all the products that you need to use for bathrooms and you know for clean cleaning stuff, that's it. Yeah, so it's quite easy, right? It is. It is. You know, of course, you know, if you if you want you know to do clean after you know construction and um and etc., it's you know it's you know it's more challenging. But you know, I was you know kind of like led you know to this pathway and you know to this experience and I thought that you know it's so easy to do all of these jobs and you don't need you know trade to train people, you just need to show them you know once or you know twice two things you know you need to supervise. It's so easy, you don't like you know to you know run you know the bicycle, you just you know start doing it once and and that's it. So you know I like you know how the opportunities you know find me and sometimes you know go into difficult businesses like international studies or or you know residency by investment. But you know, it's also you know once you begin to run it, you know, it becomes very easy. You know, same like with uh residency by investment business, because you know at that time I was helping SMK, a college in Lithuania, the sales, and yeah, one agency approached me and they asked me about this business opportunity, like to establish business here in Lithuania and then get the residence. You know, at first I thought like I never heard about this, and then you know I began to explore exploring things, and you know, I talked to my cousin cousin, and he told that you know at that time, you know, he sold one of his businesses to you know a person from Iran, and he applied for a visa and he got the visa grant, and I was like, all right, you know, this is the opportunity I need to explore more. And then you know I found out that you know one of my best friends from childhood, he's an immigration lawyer, and then you know I connected with him. I said, like, look, you know, help me with that stuff.

SPEAKER_01 11:32

Yeah, so it's it's funny how the right opportunities fall into place, isn't it? Yeah. And how they just come up. So uh can you tell me a bit more about the opportunities that you see in Lithuania for foreigners? For me, for example, if I come to Lithuania, if I have like $50,000 or $100,000, what opportunities can I explore? Sure.

SPEAKER_00 11:55

So we do have three pathways in Lithuania is by investment uh into uh a startup. If you have a business idea, you know, it's it's great for somebody who has a business idea, you know, any kind of business idea to do lithium, whatever you know, it's maybe a coffee shop, maybe you know to open a franchise business for for somebody you know who's uh you know I can see that you know hands-on business, and they you know you used to do the business elsewhere. So, you know, first pathway is uh opening uh the start. The second pathway is by acquiring the business. Because right now we see the trend that you know we getting approached individuals and companies who are willing uh to establish to acquire the business in Litween. So as previously, you know, recently, you know, we helped to sell my cousins one of his businesses, you know, Japanese style uh uh Pokeball shop. We we sold it uh for uh 30,000 for one of the investors. Business turnover was uh over 30,000 a month. So uh this business uh you know could self-sustain, match all the requirements uh to get the residency by investment visa here in Lithuania. And the third pathway is for companies who are the operating and maybe you know they we have uh transactions in Europe, so they can open their branch here in Lithuania, hire people, at least you know, two personal here in Lithuania, and then you know they can they can as well apply for this residency by investment visa. Then the main requirements for this visa is to invest at least 28,000 euros, whether it's a startup or acquire the business, are too personal uh to stop members and pay them at least uh 4,400 euros monthly salary. That's that's a good that's a gross sum. Uh they can secure permanent residency after three to five years here in Lithuania by just running the business. So if they're you know digital moments as well who are you know willing to get uh access to European Union or Schengenzone, this this pathway also could be a great opportunity to enter this market because Lithuania is a kind of like a pathway between training routes between east and west. And I believe you know it's has a lot of great opportunities right now, you know, especially the war in Ukraine and due to the war over regions, Lithuania becomes kind of like save Save Ham. It's not a Dubai right now, you know, which was one of the most safest places for our international businesses, but not right now, you know, some of the regions in Europe, they just you know replace that. And we see the tendency that big businesses are coming back into Lithuania as well.

SPEAKER_01 14:28

Yeah, I wonder if how it's going to affect things if more people will move to Europe instead of the Middle East at the moment. And I yeah, that's really interesting that so it costs $28,000 to register to you need to invest $28,000, but then you need to hire you to hire two people for three years for $4,400 a month. So you'd need to have euros, yeah. So you'd need to have capital for it to be profitable depending on on the kind of business, right? Or you could just buy a business and then use the money in the business to pay those people. What what do you see? Because you mentioned Pokeball restaurant. I that's an interesting business that I know nothing about. But my perception is that the restaurant business and digital businesses, they're quite different to run. They probably suit different kinds of people. But would you would you say there's just a lot of opportunity in many different industries now, or which would you say were the main with the biggest opportunities that well maybe foreigners can do well in? Because maybe there's some stuff that it's not easy for foreigners to do well in.

SPEAKER_00 15:36

I believe in simple businesses, you know, which all all all of, you know, I believe in food food industry because you know we all need, you know, to have a food, you know, to drink. So I believe in shops, I believe in the hospital, you know, good to hospitality restaurants and coffee shops. Because you know it's all about idea and it's all about you know the vibe right now. It's all it's all about you know the vibe that you can create inside the shop because where people are more running out out of the experience rather than you know just you know food or or the location. So we see the tendency that creative approach uh to the hospitality businesses, you know, especially in food industry, they can drive lots of people. And you know, we now see in Lithuania, you know, there's um many of the creative stores that tend to choose completely unknown locations by having a creative approach, it attracts lots of people from different different kinds of you know uh parts of the city. And they just you know run towards this experience. And then again, Lithuania right now is more about the FinTech, because uh we have businesses like Binance establish their headquarters quarters here in Lithuania as well as Revolute and different kinds of you know uh uh really you know big worldwide known uh fintech companies. So if you have you know any ideas about AI and you know business of optimizations and software and development and etc., all of these companies can be a target because they didn't need here, they do need to be services. And then you know, as well, you know, you know, banking sector. You know, we have a lot of Swedish banks who have uh their branches there. If you you know good you know the people supply. For example, we do have uh to uh you know I do have a few friends uh who are who are Pakistanis. They have IT companies in Pakistan. So you know they came to Lithuania, they established their businesses there, they sell selling uh their staff hours for coders, product managers, and and etc. from Pakistan here into Lithuanian companies and you know establish businesses, and you know, this is how you know they create opportunities. And you know, sometimes it's just you know good to come to Lithuania, you know, for maybe not for three days or for a week, come and explore and see you know what people are all about. And that's it. You know, sometimes you know we do the tours for the business people who are willing to come to Lithuania and explore Lithuania. So you know, uh we we have different kinds of business networking events, and you know, we help that you know to connect with the small businesses. So there's you know different kinds of opportunities in Lithuania. So you know, standard businesses, all that you know, humans need, you know, cleaning businesses, food, you know, food supply businesses, shops, coffee shops, restaurants are great as well, as well as the high-tech and IT companies. So you know, we're you know, kind of like in Lithuania in the middle. And because once we stepped in into European Union, lots of uh big businesses from UK, from Norway, they opened uh their branches here. So we have you know really you know good stuff and well well trained for over you know 30 years as we are, we you know get the freedom from the Soviet Union. So right now Lithuania have a lot of skilled people, and this also can create opportunities maybe to sell you know these skilled skilled people skills for uh foreign coun countries.

SPEAKER_01 18:59

Yeah, that's so one of the great industries is finance and then services, because in Lithuania people have a high level of English, they're well educated, and the cost of living is going to be cheaper than in Germany or UK, I imagine, right? And is the how does the tax rate compare between other those countries in Lithuania for a business or income tax?

SPEAKER_00 19:27

Yeah, so income tax tax in Lithuania right now is 16%. So I I believe it's relatively low comparing to other countries. You know, I'm not sure about you know how it's in Germany or or in the UK, but you know, I see that you know the tendency that and we also have in Lithuania free economic zones as well, where you know companies don't pay taxes. But you know, it's it's like you know, for big businesses, you know, which you know have a turnover or you know, they have you know factories here. But still, if you if you are you know a big business, you can have really no good benefits here from from the Lithuanian government. If you are a small business, the taxes are relevantly low here in Lithuania, and you know, there's different kinds of schemes how you can minimize the expenses here in Lithuania as well. So I believe Lithuania is is is you know comparing you know to you uh UK and Germany is a very attractive country for running international business.

SPEAKER_01 20:20

Mm-hmm. And so I think you mentioned there are three types of residency by investment you can invest, you can buy business. What are the other what's the other type?

SPEAKER_00 20:32

And if you're already running the business, you can open your branch here in between.

SPEAKER_01 20:37

Yeah. Uh so and then what's the step-by-step process to actually do it? Like if you wanted to set up a business, is it fairly simple? I mean, the steps is it kind of you can just like find find someone. Do you do you help set up businesses or do you have you have someone you recommend they can just set it up? How long does it take?

SPEAKER_00 20:56

Yeah, so we're we're you know full package which help uh international people you know with investments and uh company uh in corporation services, as well as we have accountants, we have lawyers, and etc. So you know we can manage everything, you know. Usually how it works uh with Papwist is that you know we have people who say, like, I want to open the startup here in Lithuania. Can can you assist us with that? And we do everything. We maybe you know help up the company in corporation services. We open bank accounts, then we help them and guide them with uh with investment because after the company is incorporated, they need to send the investment into a newly created company under their name. Once uh the company is created, then they can apply for a first national visa D if it's a startup. And after the first year, they they would need to extend the visa for another two years. And then, you know, also you know, then temporary residency permit for the first two years, and then after two years they can extend it to another three years, and after five years of beholding temporary residency permit. They can apply for a permanent residency here in Lithuania. So usually the steps for opening startup. So company incorporation and the banking, then you send the investment into a start company's bank account, then apply for a visa, and then begin taking actions towards running this business. Because this first year you need to show that you are running a genuine business. So the Department of Immigration later will ask you to show whether you have any contracts, have you done any business activities? Like you know, have you leased the office office or whether you hired stuff? And you know, we usually assist all the clients and guide them on what kind of actions we need to take, whether they need help with the real estate. We have as well real estate advisors who can help the officer. And yeah, you know, we do assist in all of the steps as well as you know, we are helping the business plan. Because at the end of the second year, holding a temporary residency permit. One of the requirements is that uh the company needs to provide uh the business plan. So we're working together with our clients to work on the business plan and provide for Department of Immigration.

SPEAKER_01 23:12

Okay. And does it have to it has to be translated into Lithuanian or English? English the is it Lithuanian is the language of business official business, but and you can operate in English or Lithuanian, or it should be in Lithuanian.

SPEAKER_00 23:27

Yeah, Department of Immigration they usually ask to provide in both languages. You know, this is where we also assist. So we assist you know with the translations. Yeah. We do speak, you know, you know, the great statistics of Lithuania that over 86% of uh people older than 20 years old, they do speak in English fluently. You know, there's no issues of the English language here in Lithuania, but governmental bodies, they're you know still you know a bit old school and you know they they tend to hire older people. So it's always you know good to have all the documents in both languages languages, Lithuanian and English.

SPEAKER_01 24:02

Yeah. And uh so people can set up a business and then they can live in other countries, or should should they live in like they could go to for example Portugal or live or or should they stay in Lithuania whilst they're on that whilst they're doing that? Yeah, so basically, it depends on the business, obviously, but yeah.

SPEAKER_00 24:21

Because you know, if you need if you're running business uh in you know overall European unit, definitely you know you'll need you know to get to go and do you know the business in other countries. So once you apply for the residency by investment visa, you are allowed to to leave Lithuania for you know for around uh 10% of the time. They you know they do require you to be registered and live under a certain address for at least 90% of the time here in Lithuania.

SPEAKER_01 24:47

Yep. And how does it compare to Estonia's? I know that they're very they have a very forward-thinking e-residency. Could you introduce that a bit more and how how does it compare to Lithuania?

SPEAKER_00 25:02

Yeah, so you know, this uniqueness of of Estonia was, I don't know, they they probably presented this uh e-residency in and that you couldn't open the business so easily. I think that you know it happened over you know 10 years ago, even to you know 15 years ago, and it was very unique at that time. And the thing is, you know, right now, you know, this attractiveness, you know, out of falls and and shrinks because before they used to have you know really good laws for the businesses, because anyone put open the business, it was you know really, really you know easy to do that. However, right now, all the international businesses they they don't pay any taxes in Estonia if they do reinvest money into their business. For example, if you know the money stays, all all the profit stays in the company and they do it in reinvest, they don't need to pay any taxes. However, you know, they begin to increase in taxes for for you know for the for the profit, you know, slowly it becomes hard for the for the businesses uh you know to cope with the taxes, and they are thinking of uh uh invest in investing elsewhere and you know choosing different kind of uh companies due to just you know the taxes and and that you know it gets harder to cash out uh the money. But you know, still if your business needs a lot of investment, and if if you if you are a startup, I believe Estonia is one of the best countries in the European Union to have a business. Lithuania is different, you know, different approach. You know, you need to pay taxes here, but you know, you have this freedom now to get residency by investment visa and secure a permanent residency here. Estonia does not have uh such kind of programs, nor nor Latvia.

SPEAKER_01 26:41

So it's more like uh e-residency that's not a permanent residency, you can't stay there for forever, right? You can just it's like a temporary thing that has to keep renewing. Yes. But then in the permanent residency, but you can't get citizenship.

SPEAKER_00 27:00

Yeah, you can get citizenship in Lithuania as well. It's not a problem. After 10 years of whole holding 10 temporary residence permit, you can get uh residence residency here in Lithuania. It's just Lithuania does not allow to have you two passports, so you can stay on permanent residence forever. However, e-residency in Estonia does not let you to live in Estonia. It's just you know e-residency for it's easy to open the business, it's easy to run the business, it's easy to do all the uh governmental transactions and you know work uh with the governmental bodies. They met made with flexibility first. Same like in Lithuania we have this digital signature, and by having the digital signature, you can open the business in Lithuania and you can do all the transactions, you can pay taxes and deal with taxation office. The difference between Lithuania and Estonia is that Lithuania have better rules for you to stay and live in Lithuania permanently, and even you can secure a citizenship. Or you can stay on permanent residency forever. It's just you know a matter of extension then.

SPEAKER_01 28:01

What's the uh digital signature? How does that work? Is that like an app that you can use for all the services? Or what how does it work?

SPEAKER_00 28:08

It's very similar to a temporary residency permit card. You know, it you will uh get your Lithuanian uh special code where you can use this card, and you can log in to let's say a registration center of Lithuania and incorporate uh the business here, as well as you you can you know to do I don't know you know your taxation and log in into all the all the governmental bodies. So it's kind of like access that gives you it's very similar to Estonian e-residence.

SPEAKER_01 28:39

Cool. I think there's a lot of people have been talking before about Dubai or about Singapore, like everyone knows about these destinations, but it's well worth looking into other options that people wouldn't consider. Maybe they're not like so famous, everyone is is going there because maybe there are there are kind of negative sides to going to the most popular, the most obvious choice as well. So if you find the opportunity that no one's talking about, there could be a lot of opportunities and maybe you can get in there early before it becomes really popular.

SPEAKER_00 29:12

But the the difference between the you know these countries, you know, it's great for a business, but once you get a Lithuanian permanent residence, you have free education and you have free healthcare as well. You don't need to pay that before that. And as well as if you have family members, siblings or parents, you can also invite them to the preview here in Lithuania. And nor Singapore nor Dubai has uh you know this option.

SPEAKER_01 29:36

Yeah. Does Lithuania have quite a young population at the moment?

SPEAKER_00 29:41

No, we we actually don't have the same issue, have have the same you know, issue as all of all of you know western countries because young people population is is you know dropping off. You know, I I like that Poland right now introduced tax, they reduce tax for uh families who have two children or more. They don't pay any taxes, and this was you know introduced this year. So hopefully, you know, we'll we will see you know the same thing here in Lithuania soon for more young people to have kids because you know, as mentioned previously, we do have experience the same issue that the population of Lithuania is uh getting older. That's why we we need a lot of immigrants right now to do the jobs because the country still grows, but it does not have a lot of workers. Because in Lithuania we have over a million of uh people over 60 years old. And you know, for somebody, you know, it could be you know a good number to do the business, you know, if they target olderly people. So you know we have over a million of people living in Lithuania. So it's almost like you know a bigger part of Lithuania who are older, older than 60 years old.

SPEAKER_01 30:44

Yeah, that's the silver economy, isn't it? So there's lots of opportunities there. Fascinating seeing all these countries that have just older and older populations like all in over Europe. Yeah. Do you what do you have any thoughts like why why people are not having as many kids? I think it's happening in Australia, it's happening everywhere, right?

SPEAKER_00 31:06

Yeah, it happens everywhere. I think it's you know due to a different kind of approach to the life, because you know, overall Europe was you know about all of you know surviving you know through this you know first and second world war and then you know Great Depression and and different kind of challenges years for you know we can see for uh hundreds of years from you know 1920 until you know 2020, you know, we had really tough times under. But during these years, you know, the economy developed and people become richer, you know, they had more freedom, they could travel. This is what we see within Lithuanians. Now Lithuanians live elsewhere, they live in Bali, they live in Dubai, they enjoyed life. You know, the culture kind of like changed. You know, they don't have you know to have fa families, they buy dogs and they have cats rather than kids because you know kids demand time. You know, younger people they kind of like not are willing to invest in in you know into into the kids and to have this freedom of choice and uh freedom of travel. But slowly with you know I see that there's you know different kind of approach as well. But the things are shifting and younger people also thinking about the families, and we see that Lithuanian traditions year by year are getting more popular. We see more people dancing folklore than or you know joining the groups because you know they're keen on exploring the roots or where they came from. Because once you know we stepped uh in into the European Union, we have this Western culture injection. And for us it was pretty brand new, and you know, all of these brands came into Lithuania and the shops and skyscrapers and etc. And people were very excited about that for you know maybe 10 or you know 20 years before you know forget about our culture. But right now, you know, I believe people have enough of you know this you know Western things and they're you know kind of what willing to get back to the roots.

SPEAKER_01 33:05

Yeah, I saw that's happening in Poland as well. Well, I think is Poland is uh less they kind of have fewer immigrants. Do you do you know much about Poland and the policies?

SPEAKER_00 33:16

Yeah, I'm half Polish as well. So yeah, so in Poland the situation is completely different because for the last five years they restricted the immigration policies. Of course, they they've been hardly influenced by the immigrants from Belarus, from Ukraine, because they accepted lots of um asylum seekers from from Ukraine, as well as they always had lots of immigrants coming to work in Poland. Because right now Poland's uh economy is one of the greatest in overall in the European Union and they're growing very quickly. And you know, as I as I say, as I say, Poland is China or China or European Union, and they're you know doing lots of trades, they create lots of products, and they create great products. And now we can see that maybe around 20% of the products which are for sale here in Lithuania they were imported from Poland. So I believe you know Poland has you know great roots, and you know the people have uh great traditions here and culturally they're very strong, and they're all about families as well. I think Poland is doing great about connecting the our roots, and you know, the government promotes that as well as as mentioned previously, not reducing the tax for people who has two kids or more, but they're promoting families. So I believe you know that's a great thing.

SPEAKER_01 34:30

Yeah, it seems like uh it makes sense because I think what's happened with the economy is because birth rates going around everywhere, it's because the uh people basically having to pay the costs of it all of themselves. And so it makes sense to have some because the benefit of raising children is actually for like the whole society, isn't it? So it makes sense that they should have some incentive to to do it.

SPEAKER_00 34:55

Because they need to promote how to raise new taxpayers.

SPEAKER_01 34:59

Yeah, exactly. So uh but I think it's very new very early policy in Poland, isn't it? So it's it's not sure what the what the results are likely to be. But you th you think that will bring us a similar thing in Lithuania?

SPEAKER_00 35:11

I hope that um the government will think about that because you know the situation in Poland is not that worse, uh like here in Lithuania. In Lithuania's situation you know is is important because the numbers were declining for over, I believe, 15 years. The birth rate just you know dropping you know year by year by year by year. And right now we see at this stage we see on the streets more immigrants around than you know small kids and children. So I think you know the government needs you know to do something about that. Likely, I hope that you know we will see the same benefits for families here in Lithuania as well.

SPEAKER_01 35:48

Yeah. Yeah, I think a lot of it is the housing and just it's become like the culture, hasn't it, for some reason, to have to kind of delay it and to live live life in a certain way. And I think when also when it's like kind of becomes reinforcing because when if you see less children around or you're like your friends don't have as many children, it makes less people want to have children. But then if all of your friends are having children, it makes more people have children. There's a lot of effects they're compounding, right?

SPEAKER_00 36:17

Yeah. So yeah, majority of my you know, my age, you know, my friends, old flatmates, you know, they do have for kids, you know. You know, now my niece, she's 25 years old, and she's she has you know two cats, you know, they call it babies. And they're not coming to have kids yet, and they don't plan, you know, plan you know to have it in the long term influence by you know this the Western lifestyle. So I believe no. If you know all all the countries will turn back into the roots where you know we came from, where Lithuanians came from, you know, the culture is you know overall, you know, the culture is is all about the families, raising children and uh doing you know good things for the country. So if you know we will see you know this tendency that many of Lithuanians are you know getting back to roots, but if you know the you know the birth rate will will begin to grow. Of course, government initiations, uh, tax benefits help as well because right now we know the young people we do have um different kinds of tax benefits uh to acquire their first real real estate, so you know they they can get and get some sub subsidies uh you know for the loans and etc. But uh you know it's still you know not strong enough in incentives to promote uh the birth rates.

SPEAKER_01 37:33

Yeah, it's yes, it seems like it's a good yes in China it's quite a lot more severe, I think, because uh so there's lots of there used to be many kindergartens and recently like some of them have been closing down and then they put the like beauty makeup, beauty, facial plastic surgery instead and uh pet pet shops seem to be replacing them. But yeah, I think it's also part of living in a city as well. It's yeah, it's definitely good to get right to the roots and to recognize the importance of family because that's what the whole of society is based on, isn't it? Yeah, and it's quite um important to have. So yeah, we've kind of gone a bit off topic, but for people who want to go into Lithuania to invest and then maybe start a family as well. But what would you say are the so how could they learn more about pathways and your services?

SPEAKER_00 38:25

Yeah, so we can find more information on pathways.lt website. We're also available on also social media platforms on YouTube, we're sharing great videos and tips about the residency by investment, about studies as well, as well as where on TikTok. So if somebody could you know go onto our website and they can uh explore more, as well as they can get in touch with us on WhatsApp. You know, I'm happy to tell more about Lithuania, about you know raising kids and and and you know families here in Lithuania because the kindergarten gardens here in Lithuania are fully funded by the government or partially uh depending on the visas you know the uh international people are holding, or they are very cheap. We're paying like hundreds euros a month for a kindergarten, and you know, for Lithuanians, you know, it's it's fully subsidized by the Lithuanian government, so we're not paying anything for kindergarten. And if somebody will get a PR in Lithuania, they will not be paying for kindergartens as well. So I think you know it's a great advantage. If you're a family oriented, Lithuania, you know, it's also you could be on your target, you know, not so not only about the business, but also about raising the family and promotion of uh the families here in the what's the uh main cost of living in Lithuania?

SPEAKER_01 39:42

Is it much cheaper than in Australia?

SPEAKER_00 39:44

Oh yeah, because in Australia, you know, the biggest part of your expenses is uh spent on accommodation. In in Australia, you know, I was living in Sydney and I was spending like for at least 500 a week on accommodations, like one bedroom apart, and in Lithuania, so it's like sixteen hundred uh dollars a month. And here in Lithuania is it's like maybe not half cheaper. And and then again, you know, food cost in Australia is like thirty or forty percent more around Litouin.

SPEAKER_01 40:16

Okay, cool. All right, thanks uh Terrius, good to chat. Anything else you want to say?

SPEAKER_00 40:20

Uh I believe that's it for today. We we covered, you know, quite a few top topics and yeah, it was my pleasure.

SPEAKER_01 40:27

All right. Which is