The Lithuanian Cabinet decided on Tuesday to submit a bill that would introduce the status of an e-resident to the Seimas for approval.
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The status would give foreigners access to a range of online administrative, public and commercial e-services, including setting up companies, opening bank accounts or declaring taxes online.

The government plans to decide on the exact range of services available to e-residents at a later stage.

The Interior Ministry, which drafted the bill, says the e-residency program is needed because of people's growing mobility and a rapid development of e-services.

The ministry wants the e-resident status to be granted simply and quickly without excessive red tape, but promises to take additional measures to ensure that it is not abused for money laundering or terrorist financing purposes.

The ministry proposes to launch the e-residency program in 2021. A similar program is already in place in Estonia.

BNS
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