Acquisition into ownership of land, internal waters and forests is permitted to foreign controlled enterprises meeting the criteria of European and transatlantic integration embarked on by Lithuania. 
The criteria of European and transatlantic integration embarked on by Lithuania are met by foreign legal persons as well as other foreign organisations set up in:
a) the European Union member states or states parties to the Europe (Association) Agreement concluded with the European Communities and their member states;
b) Member states of the Organisation for Economic Co-operation and Development, North Atlantic Treaty Organisation and states parties to the European Economic Area Agreement.
Ownership of land is not possible for other investors, but leases are allowed. The term of a state land lease agreement may not exceed 99 years.
"Article 47:
The Republic of Lithuania has the exclusive right of ownership over: the depths of the earth, as well as inland waters of state significance, forests, parks, roads, historical, archeological and cultural objects.
The Republic of Lithuania has exclusive rights to the airspace above its territory, its continental shelf and the economic zone in the Baltic Sea.
Foreign entities may acquire land, inland waters and forests for ownership in the Republic of Lithuania in accordance with the constitutional law.
Land plots may be owned by a foreign state in accordance with the procedure and conditions established by law for the establishment of its diplomatic and consular offices." (The Constitution  of the  Republic  of Lithuania (1992 Nr. 220; last amended 21 March 2019), Article 47 [google translation])
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"Article 1 . Purpose of the law:
Implementing the provisions of Paragraph 3 of Article 47 of the Constitution, this Law establishes:
1 ) foreign entities which, in accordance with the procedure and conditions established in this Law, may be permitted to acquire land, inland waters and forests in Lithuania by the right of ownership;
2 ) the conditions, procedure and restrictions under which foreign entities established by this Law may acquire land, inland waters and forests by the right of ownership.
[...]
Article 3 . Foreign entities that may be permitted to acquire land, inland waterways and forests:
According to this Law, foreign entities that meet the criteria of Lithuania's chosen European and transatlantic integration may be allowed to acquire land, inland waters and forests by the right of ownership.
Article 4 . Foreign entities meeting the criteria of European and transatlantic integration:
1 . The criteria for Lithuania's European and transatlantic integration are met by foreign legal entities, as well as other foreign organizations established in countries that are not members of political, military, economic or other alliances or alliances of states established on the basis of the former Soviet Socialist Republics. , agreements or organizations:
1 ) the European Union;
2 ) the North Atlantic Treaty Organization;
3 ) the Agreement on the European Economic Area;
4 ) Economic Cooperation and Development Organizations.
2 . Citizens of the states referred to in Paragraph 1 of this Article and permanent residents of these foreign states, as well as permanent residents of the Republic of Lithuania who do not have the citizenship of the Republic of Lithuania shall meet the criteria of Lithuania's chosen European and transatlantic integration.
[...]
Article 6 . The right of foreign entities to acquire land, inland waters and forests:
1 . Foreign entities meeting the criteria established in Article 4 of this Law in the Republic of Lithuania have the right to acquire land, inland waters and forests by the same procedure and under the same conditions as citizens and legal persons of the Republic of Lithuania.
2 . Foreign entities that do not meet the criteria established in Article 4 of this Law are prohibited from acquiring land, inland waters and forests by the right of ownership, however, they may manage or use these assets in accordance with the procedure established by the laws of the Republic of Lithuania." (Constitutional Law on the Implementation of Paragraph 3 of Article 47 of the Constitution of the Republic of Lithuania (20 June 1996, No. I-1392; last amended 12 January 2018), Sections 1, 3, 4 and 6 [google translation])
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"Article 6.549 . Term of the land lease agreement:
1 . The term of a private land lease agreement is determined by an agreement between the landlord and the tenant. The parties may also enter into an open-ended land lease agreement.
2 . The term of a state land lease agreement shall be determined by agreement between the lessor and the lessee, but not longer than ninety-nine years. [...]"(Civil Code (18 July 2000, No. VIII-1864; last amended 30 June 2020), Article 6.549 [google translation])
The Constitution  of the  Republic  of Lithuania (1992 Nr. 220; last amended 21 March 2019), Article 47
Constitutional Law on the Implementation of Paragraph 3 of Article 47 of the Constitution of the Republic of Lithuania (20 June 1996, No. I-1392; last amended 12 January 2018), Sections 1, 3, 4 and 6
Civil Code (18 July 2000, No. VIII-1864; last amended 30 June 2020), Article 6.549
[<a href="https://www.e-tar.lt/portal/lt/legalAct/TAR.47BB952431DA/asr">The Constitution  of the  Republic  of Lithuania</a>],[<a href="https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/TAIS.29275/asr">Constitutional Law on the Implementation of Paragraph 3 of Article 47 of the Constitution of the Republic of Lithuania</a>],[<a href="https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/TAIS.107687/asr">Civil Code</a>]