A visitor visa alone is usually not enough to stay abroad for an extended period of time. For this purpose, you will need an entry document that will later be used by the authorities of the host country to issue you with a residence permit, for example in the form of a biometric resident card.
The main problem with most of these visa categories is that the immigration service of another state grants residence permits only if the applicant meets a whole list of requirements. Yes, and upon arrival abroad, the newly minted resident will have to maintain his or her status. In other words, the student can not quit studying at the university, who came on business visas enterprising foreigners must devote all their working time to business, and those who came to another country as a spouse, categorically contraindicated to divorce. All of these disadvantages do not affect only those who have obtained their residence permit for investment by participating in a special government programme.
There are many countries that offer investment residency programmes. Residence through investment is the process of foreign investors obtaining a residence permit in a country in exchange for their investment in the economy of that country. The investor is granted a temporary residence permit, and after a certain number of years — a permanent one. Subsequently, if certain conditions are met, the investor can apply for citizenship through naturalisation and obtain a passport.
You may have heard of passport programmes whereby a foreign investor can obtain a second citizenship on favourable terms. The most frequently mentioned are the former British colonies — the tiny island states of the Caribbean. Often, in order to obtain a second passport in the Caribbean, a participant in the programme does not even need to leave his or her home country.
Many programmes for obtaining a residence permit through investment are very similar to programmes for obtaining a second citizenship on the same principle:
This is where the similarities between the programmes end, as:
An investment residence permit allows you to obtain permanent residence status and even citizenship in the long term, but this will require several years of residence, integration into the new society and language skills.
In those states where the investor is given the opportunity to invest in both a second passport and a residence permit, the two programmes complement each other, so that it is not uncommon for the issuance of a residence permit for investment to be the first step in the process of obtaining economic citizenship.
A temporary residence permit, as the name suggests, is limited in duration. However, the investor usually has the option to extend it and move to another immigration category.
Based on a temporary residence permit a foreign citizen lives in the country, does business, works or studies. As already emphasised, the residence permit itself does not usually lead to citizenship, but after a few years of permanent residence in the country you can become a permanent resident.
An immigrant can obtain a permanent residence permit after several years of residence. This period is usually 5 years or more.
Malta offers special conditions for wealthy foreigners. There, a foreign citizen is granted a residence permit for a substantial contribution to the development of the Maltese economy, after which he or she undergoes a strict security check and in 1-3 years, i.e. under an accelerated procedure, is granted EU citizenship.
The status of permanent resident implies a higher degree of integration into society, so you must know the language and understand the peculiarities of life in your second home country, even if you received your residence permit on favourable terms.
A permanent residence permit effectively equalises the immigrant in rights with other citizens. He or she can still work, run a business, receive education or simply do nothing and rest without any time restrictions. However, in some countries, permanent residents cannot stay away from their place of residence for long periods of time, as in this case they risk losing their immigration status. The next logical step is naturalisation and issuance of a passport.
The number of countries that offer residence permits to investors, as well as the number of investment options under existing programmes for investment in the economy, is constantly increasing. Sometimes even a trained person can find it difficult to understand all the nuances and make the right choice.
Imperial & Legal’s London immigration solicitors have a wealth of experience in dealing with the challenges of obtaining residency in return for investment and will be happy to provide you with legal support.
We currently advise and assist in obtaining residence permits for investments in the following jurisdictions.
Note:
* The Portuguese immigration route Digital Nomad (Digital Nomad), although it is not an investment route, was still listed in the table, as it gives its holder almost the same amount of rights and freedoms as the residence permit for investment. Make an appointment for a consultation with our specialists if you would like more information on the Digital Nomad visa.
It will be much quicker and easier to obtain a residence permit abroad with the help of investments than on any other basis. Wealthy people choose economic immigration to highly developed countries for a variety of reasons:
Holders of a residence permit can travel to and from their country of residence as much as they like, without tedious bureaucratic procedures. And if you invest in a residence permit of one of such European countries as Malta, Latvia, Portugal, Spain or Belgium, you can travel visa-free throughout the European Union.
Provided by high standards of living, equally high quality health care and education, economic and political stability, and low street crime rates.
It is not uncommon for foreign investors to be granted a favourable tax regime together with a residence permit, which allows them to save significantly on fiscal payments.
A significant part of the states offering residence permits for investment support the development of small and medium-sized businesses at the state level. These countries have everything you need to expand your company: large markets, well-developed infrastructure, independent courts and qualified specialists.
The main reason for the high popularity of immigration programmes for investors is the opportunity to attract foreign private capital into the national economy. Moreover, in addition to the main investment expressed in the purchase of shares, a gratuitous grant to the state development fund, expensive rent or purchase of real estate, 183 days after moving, the investor becomes a tax resident and starts paying taxes on all his income. And in some jurisdictions, such as Switzerland, the annual payment of a chord tax is the main condition for obtaining a resident card.
Often with the help of investment immigration programmes the government solves additional tasks. For example, it gives an impetus to the development of sparsely populated regions of the country or restores historical buildings of cultural value. The rules of the residence permit for investment programmes provide for more favourable conditions for those foreign investors who:
If complex investments are required to obtain resident status, one of the prerequisites is often a grant to a non-profit charitable or cultural foundation.
The list of criteria on the basis of which the decision to grant a residence permit is made may vary significantly from country to country. However, there are some general requirements that are based on the logic of the immigration programme:
Other requirements common to all investment immigration programmes are that the applicant must be of legal age, have no criminal record and have no dangerous infectious diseases.
Potential investors can count on reliable legal support in the process of applying for residence permits and second citizenship for themselves and their families if they seek advice from our specialists. Imperial & Legal’s lawyers have extensive experience in dealing with investment immigration to Europe, the UK, Canada and the Caribbean, so from the many options available, we will find the one that will fully meet your needs.
A residence permit is a document that allows a foreigner to stay in the country for a long time (more than 6 months). It can be a long-term visa, an official authorisation from the authorities or a residence card.
A residence permit can be with or without the right to work. According to the period of validity, there is a distinction between temporary and permanent residence permit (PML). A permanent residence permit almost equates an immigrant with other citizens of the state in terms of the sum of rights and obligations.
The main advantage of a residence permit obtained for investment is the simplicity of its application: the applicant usually does not need to know the language, prove his education, professional qualifications and work experience.
Unlike holders of other immigration categories, the investor is not obliged to work, run a business or undergo training. In some EU countries, holders of an investment residence permit are not entitled to be employed.
The conditions for participation in a particular economic immigration programme differ depending on the country you choose. The number of economic investment options for obtaining a residence permit for investment is small.
Investments can be made in state economic development funds, in the purchase of real estate, in science and technology projects, in shares in private companies and in government debt. In some cases, funds are invested in the form of a lump sum annual tax, as in Switzerland, or a minimum annual tax, as in Jersey.
Investments can also be complex, i.e. combining several options at once. For example, future Maltese residents invest according to this scheme.
An investment residence permit does not impose any significant restrictions on its holder and, as a rule, is issued if the applicant fulfils the minimum requirements. In contrast, a permanent residence permit assumes that the investor has successfully integrated into a new society: has lived in the country for several years and speaks the local language.
As a permanent resident, an investor can sell the property or shares in local companies that he bought as an investment and get his money back. In addition, several years of residence in the country with a permanent residence permit entitles the investor to apply for citizenship.
When choosing a suitable programme for granting residence permits for investment, several important factors should be taken into account:
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