company formation lithuania



Company Formation Lithuania



Hiring Workforce in Lithuania

Updated on Friday 22nd January 2021

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Hiring-workforce-in-Lithuania.jpgLithuania is not a large country; however, it boasts a young population and a skilled workforce. As a matter of fact, Lithuania has one of the youngest populations among European countries, which is also available for the labor force.

In the last few years, the Lithuanian economy performed quite well, which helped not only companies here, but also the population, as the unemployment rate fell significantly.

If you want to open a company in Lithuania and need more information on the employment regulations, our local consultants can advise you.

The qualities of the workforce in Lithuania

As mentioned above, Lithuania has one of the youngest workforces in Europe, which make the country very appealing to foreign investors and companies seeking to set up their presence here.

Among the most important qualities of the Lithuanian labor force we mention the following:

  • -          being made of young individuals, the computer literacy rate among employees is very high;
  • -          Lithuanian employees also have foreign languages skills, English is one of the most spread foreign languages here;
  • -          most of the employees work in industries like manufacturing and finances, which are two of the most important economic sectors in the country;
  • -          there are almost no differences between the employment rate for men and women in Lithuania.

The Lithuanian workforce is also one of the most skilled when it comes to using computers. Also, the government has invested a lot in training facilities in order to help companies.

The new Labor Code in Lithuania

In 2017, Lithuania amended its Employment Law in order to help both employers and employees. Among the new provisions of the Lithuanian Labor Code are:

  • -          the introduction of new types of employment contracts and terms of renewal of fixed labor contracts;
  • -          the possibility for employers to terminate a labor contract without the fault of the employee;
  • -          the introduction of non-compete clauses in employment agreements (the old Labor Code did not provide for such clauses);
  • -          employees now have the right to be represented by work councils or trade unions;
  • -          new advantageous provisions related to annual leave and payment of overtime.

For full information on the rights and obligations of employers, but also for assistance in starting a business, please contact our company registration agents in Lithuania.

Meet us in Vilnius

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Marijus Šaras is our experienced corporate lawyer who can help clients open companies in Lithuania.

Call us now at +37061578743 to set up an appointment with our lawyers in Vilnius, Lithuania. Alternatively you can incorporate your company without traveling to Lithuania.

As our client, you will beneficiate from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Lithuania.

Contact us

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