VILNIUS, March 12 (RIA Novosti) - An ethnic-Russian businessman in Lithuania has submitted documents to the country's chief election commission to run for president, the parliamentary press service said Thursday.

Vladimir Romanov, the president of investment group Ukio banko investicines grupe (UBIG) and chief shareholder of Ukio bank, will become the first ethnic-Russian to run for president of Lithuania if the commission registers him as a candidate.

Romanov lives in the Baltic state's second largest city of Kaunas and is ranked among the country's richest people. He started his own knitting business on money earned as a submariner and taxi driver, after which he started buying the shares of light-industrial businesses.

His group now invests in real estate, production, logistics and sports, both in Lithuania and abroad. He owns Edinburgh's Hearts soccer club and his millions lifted them to second in the Scottish Premier League in the 2005-2006, a feat not repeated since.

A total of 11 contenders for the presidential post have been registered, and several others have submitted documents for registration. Presidential elections in Lithuania will be held May 17 and June 7, in two rounds.