You can actively develop your business and earn money in your home country, but you should not forget about new opportunities after moving. Wealthy foreigners who decide to change their residence can choose a complicated way and follow the provisions of the general program. This way, obtaining the resident status within a few months will be possible.
The desire to attract foreign capital has become the primary motive for developing investment proposals. The applicant brings a certain amount of investment into the country and obtaining a residence permit quickly. After that, traveling to EU countries and living in a European city becomes more accessible and attractive.
Definition of Residency Through Investment
It is much easier to plan a company’s future when there is an opportunity to enter a new market and continue working. However, this requires an official authorization to stay in the country. This category of documents includes temporary residence and permanent residence.
The definition of investment residency is easy to explain. The principle of the program is to offer to contribute funds to the economy or real estate and thereby simplify the paperwork process. As a result, the investor receives:
- the rights and obligations of a permanent resident;
- the ability to travel to European countries without a visa;
- real estate abroad.
Other benefits of the offer include moving to a new country with your family. The children will receive a quality education, and the spouse will support you in your endeavors. In addition to the spouse and children, parents and unmarried siblings are also included in the application.
Advantages of European Residency
According to expert Zlata Erlach (Immigrant Invest agency), European residents enjoy several advantages. These include working conditions, access to a visa-free regime, and opportunities for business expansion. Immigrants who are inspired to obtain a permit do not always need to make an application in person. It is sometimes entrusted to agents with the required accreditation.
In addition, residency programs allow you to :
- spend minimum time on the collection, preparation, and execution of documents;
- ensure a stable future in European conditions;
- benefit from health care and education;
- include close relatives in the form to apply;
- obtain a second citizenship once the conditions are met.
A wide range of programs ensures you can find the best place to live, work, and relax. Immigrants are offered several investment options, including creating new jobs and buying real estate. The amount of investment depends on the option.
Investment Options
Immigrant programs differ in terms and conditions and in the investment amount. However, they have one thing in common – the areas where foreigners can invest their capital. So, citizenship by investment for siblings and other family members offers you to choose from:
- Investment in the economy. The country’s requirements dictate the investment size. Investors buy government bonds and cannot sell them for several years. After this period, actions are allowed at the discretion of the owner.
- Purchase of real estate. Real estate will not only allow you to get a permit but also to move into your home. The purchase price starts at 250 thousand euros, and the application will be considered within 3-6 months.
- Business development. Entrepreneurs can create a new enterprise and hire locals. This way, the immigrant supports the country that offers him residency status on favorable terms.
The choice of a variant from several proposed ones is made after consultation with an agent. The specialist considers the investor’s requirements and helps with the decision. Since the conditions of the countries are different, it is worth taking the time to study several offers carefully.
Application Process
There are several ways to apply for programs. One of them is to visit the consulate of the chosen country. The manager will provide information about the required documents or accept the application for processing. The application form is returned to correct inaccuracies or errors.
An accredited agent also helps to prepare the package of papers. To do this, you must choose a preferred RP by investment and collect documents. The package usually includes:
- financial statements to verify legal earnings;
- medical records;
- financial resources to pay fees, investments, and other expenses.
Preliminary verification allows you to convince the consulate that you meet the criteria. Initial processing takes up to 30 working days. Once approved, the investor has a deadline to fulfill the remaining obligations (company or property formalization).
Conclusion
Simple conditions can explain the popularity of PR by investment programs. The procedure takes about six months. Approval of the application (permit) will allow the applicant and his family members to obtain residence status quickly. After that, the immigrant enjoys the rights of the local population, except for participation in elections.
