Buying property in Lithuania has been simplified a great deal in recent years in line with EU regulations, and now more than ever it is a straightforward and easy process – though as with all things in the modern world, things can become bogged down with red tape. A respected local lawyer should be employed to help with all dealings and help make sure all documentation etc. is in order.

There are no restrictions on foreigners owning property in Lithuania, but permission must be granted by the local municipality for private individuals to purchase land – though there are rarely problems with land transactions, some areas may be of significance and unavailable. It should be noted that companies formed in Lithuania are free to purchase non-agricultural land as they see fit. Once a property and price is decided upon, documentation is drawn up and collected to be sent to the local authorities so the property can be officially signed over to the buyer. As this process is taking place the buyer and seller can sign official documentation in the presence of a notary, who then collects the money from the buyer and keeps hold of it as a third party (an escrow-like system) until confirmation of the land title transfer comes through – when it does, the payment is transferred to the seller and any remaining fees can be settled.

Notary fees in Lithuania are fixed by the state and are generally around one percent of the purchase cost. Lawyer and agent fees vary, but tend to be reasonable. Property taxes in the country currently don’t apply, but they are on the way to being introduced, whereas land taxes are around one point five percent.