Croatia golden visa 
Golden Visa in Croatia: Residence and Citizenship for Foreign Investors
The so-called “Golden Visa” programme is a more and more common immigration tool in a lot of EU countries, as it allows foreign investors to get residency and, over the long term, citizenship in exchange for investments. Although Croatia, due to its geographical location and its European Union membership, is within the sights of a lot of foreign investors, its national immigration policy is rather different from those applied in other EU member-states. Presently, Croatia does not have an officially established “Golden Visa” program, as is the case with Portugal or Spain. Nonetheless, there are specific routes for foreign nationals to obtain residency through investments. This article looks at legal and practical positions related to residency in Croatia for foreign investors, including options that may be qualified as alternative routes to the “Golden Visa.”
For example, the immigration laws of Croatia, concerning the granting of residence to aliens, are guided by the respective conditions and the manner of application to be followed for the granting of temporary or permanent residence by the Foreigners Act. In this respect, various routes to residency permits, such as through business routes and investments, and purchasing real estate, among others, are under consideration. Though Croatia does not have an exact equivalent to the “Golden Visa” scheme, there are indeed a few options within immigration programs that afford foreign investors residency within the country.
Options of Obtaining Residency through Investments
There are a few options for foreign nationals, including investors, on how to obtain residency that might be considered alternative, traditional “Golden Visa” programs.
- Application for a company’s establishment: The foreigner may be issued a temporary residence permit provided he or she has registered and formed a company, the purpose of which will be investment in the economy of the Republic of Croatia. It mainly includes:
- Registration of the company in Croatia, normally in the form of d.o.o. — društvo s ograničenom odgovornošću, similar to a limited liability company.
- Investment in the share capital of the company shall be at least 200,000 kuna (approximately 26,000 euros), and
- At least 3 jobs are to be created for Croatian citizens or other EU nationals.
- Real Estate Investments: The Property Law and other property rights regulate real estate purchase by foreigners in Croatia. The right of free acquisition of property belongs to citizens of EU countries, while the acquisition for citizens of third countries is possible under certain conditions. Still, acquisition of real estate can be one of the grounds that allows for applying for a temporary residence permit if a foreigner uses it either to live in or to conduct business, such as renting it.
- Investments in Croatian Companies: A further option would be to invest in already operating Croatian companies or share in investment funds. Croatian legislation encourages foreign investors to invest in strategic branches of the economy, such as tourism, agriculture, and the IT sector. Though direct residence through investing is not available, foreign investors could reside in Croatia if their business interests in the country are long-term.
Temporary Residency Application Procedure
The steps involved in the process of obtaining temporary residence for foreign investors in Croatia are highlighted below:
| Step | Description |
|---|---|
| Preparation of Documents: | An applicant is required to provide a voluminous amount of documents to prove his or her legal status, investments, and financial position. Following documents are generally required for obtaining residence permit:
|
| Application Filing: | The application for a temporary residence permit is forwarded either to the Croatian Consulate in the home country of the applicant or to the Immigration authorities in Croatia. All documents should be translated into Croatian and notarized. |
| Application Processing: | The immigration authorities will process the application and verify whether the candidate fully meets all the requirements as stated under the law. It generally takes 3 to 6 months for the completion of the process. |
| Temporary Residency: | The applicant who gets his application approved is allowed temporary residence for a period of one year, extendable provided the conditions laid down, such as maintaining jobs and having an active company, are duly fulfilled. |
Prospects for Permanent Residency and Citizenship
Permanent residence in Croatia is given after 5 years of continuous residence in the country grounded on a temporary residence permit. An applicant should be integrated into society, be able to financially provide for themselves, and demonstrate knowledge of the Croatian language.
After being granted permanent residency, foreigners have the opportunity to apply for citizenship. However, this is also subject to several conditions needed in proving long-term residence in the state, together with some degree of integration. Although Croatia does not have an official “Golden Visa” program at the moment, through other routes, foreign investors are allowed to get residency on the basis of business, investments, and real estate. Temporary to permanent residency needs to be pursued under different legal formalities, considering necessary investments in its economy. The local lawyers and financial advisers are recommended for the potential investors to maintain all the legal norms and achieve successful residency status.
Benefits of the Croatia Golden Visa
A “Golden Visa” is a sort of mechanism meant for obtaining foreign nationals’ residency in return for investments into the economy of that particular country. Croatia does not have a “Golden Visa” program in the full meaning of this phrase, but there are several opportunities to obtain residency due to investments. These opportunities provide access for foreign citizens, including those coming from non-EU countries, to a wide range of significant benefits.
The following article outlines the main benefits of residency in Croatia for investment, considering both legal and economic aspects of the program.
1. Simplified Residency Application Procedure
- Registration of a company in Croatia with minimal investments;
- Investing in the local real estate;
- Investing money in the main sectors of the Croatian economy, such as tourism or agriculture.
2. Pathway to EU Citizenship
3. Investment Opportunities and Stable Economy
- Tourism: Croatia is among the most attractive tourist destinations in Europe. Investment in the hospitality industry, tourism infrastructure, and rent real estate is promising.
- Real Estate: Real estates in Croatia continue to grow, especially in coastal areas like Dubrovnik, Split, and Istria. An investor can gain huge benefits in buying the real estate that would either be for renting out to tourists or for personal use.
- Agriculture and Winemaking: It is well known that Croatia produces excellent wines and olive oil, a factor which may make investments in these industries not only economically rational but also an opportunity to join in the development of the long-standing traditional Croatian industry.
- No property tax for foreign owners of real estate in Croatia—income from letting is taxed only.
- Sometimes, there is a possibility to use tax incentives for entrepreneurship that opens jobs and contributes to the economic development of the country.
4. Quality Lifestyle and Good Climate
Croatia does not have a Golden Visa Program as such in the classical sense but can offer, through other legal and investment means, foreign investors residency and possible citizenship. Key benefits accruable from the program include visa-free movement within the EU and the Schengen Area, stable investment opportunities, acquisition of citizenship, and high-class lifestyle.
Eligibility Criteria of the Croatia Golden Visa Program
The “Golden Visa” program is a very useful tool in a variety of European Union countries. It gives residency to foreign investors in exchange for investments into the economy of the country in question. Croatia does not have an officially established “Golden Visa” program, such as those instituted by Portugal or Greece. Nevertheless, the Croatian legislature does provide several options for obtaining residency through investment, which may be considered a form of the so-called “Golden Visa.” The following article will present an overview of the legal framework and requirements that foreign investors must meet in order to become resident in Croatia based on investment.
The main legal regulation of immigration to Croatia is provided by the Law on Foreigners, prescribing the conditions for acquiring the status of a resident and permanent resident. In this line, residence could be granted to foreign investors in the Croatian economy, provided that certain business and investment prerequisites are met. While there is no “Golden Visa” program at the state level, several legal provisions provide different opportunities for investors to legalize their stay in Croatia.
Main Ways of Acquiring Residency via Investments
In Croatia, several grounds for application for temporary residency based on investments are possible. Each of those has its peculiarities and legal requirements, such as:
1. Establishment of the Company in Croatia
One of the most frequently applied ways for investors to receive temporary residency is by establishing a company in Croatia. This possibility is open for foreigners, including those coming from non-European Union member states, provided:
| Company Registration: | A foreign investor has to establish a legal entity in Croatia. The most common form is the limited liability company—the d.o.o.—similar to the limited liability company type of organization in other EU countries. |
| Minimum Capital Requirement: | Pursuant to Croatian legislation, the share capital of the registered company should be at least 200,000 Croatian kunas, approximating to €26,000. |
| Job Creation: | An investor needs to create at least three jobs for Croatian citizens or EU member state citizens. Such a requirement would contribute to the economic improvement in the country and help decrease the number of unemployed people. The enterprise has to be involved in actual commercial activities, and only the actual conduct of business can be a ground for temporary residence extension. |
Although Croatia does not have a direct program for granting residency through real estate purchases, investors can get temporary residency through the investment in the purchase of property under specific conditions that include:
| Property Use: | The residency could be obtained in case of purchasing property for personal residence rather than for any kind of commercial purposes. |
| Proof of Sufficient Means of Subsistence: | This implies that the foreign investor has to prove adequate financial means to live in Croatia without the need to find employment in Croatia. Due to the fact that there are no statutory minimum requirements, the investor should actually prove these funds. |
2. Investments in the Croatian Economy
| Infrastructure; |
| Agriculture; |
| IT sector. |
In such cases, the investor needs to demonstrate in great detail his investments, plans concerning the development of the business as well as the impact that is to be expected on the economy of the country. Such a residence permit can also be granted more efficiently with capital investments in Croatian organizations and companies.
Although the Croatian law itself does not directly provide for incentives for the attainment of residence through investments into funds or the purchase of securities, their consideration is conceivable insofar as such investments would constitute a significant contribution to the economy. This can involve investment projects in state infrastructure or projects contributing to the development of priority sectors of the national economy.
Legal Requirements for Applicants
To apply for temporary residence in Croatia as a foreign investor, an applicant must meet several general requirements applicable to all foreigners who would want residence in the country. These are as follows:
- Clean Criminal Record: The applicant must show a certificate of no criminal record from their country of citizenship and any other countries where they may have resided in the past few years.
- Proof of Income Sources: All investments must be made from legally obtained funds. This means the investor must provide evidence of the legal origin of the capital used for investment.
- Health Insurance: The applicant must have a valid health insurance policy covering all medical expenses in Croatia.
- Residency Intent: The investor needs to confirm his intention of residence in Croatia, which can be evidenced by documents confirming the housing situation or lease agreements.
Application Procedure
The application process for temporary residency for investors in Croatia is multistage.
- Preparation of the Documents: The application is expected to prepare a full package of documents, which includes a passport, documents connected with company or investment, financial statements, police records, and health insurance.
- Application Filing: A residency application may be filed to the Croatian Consulate in the state of residence or directly to immigration authorities in Croatia.
- Application Review: The government of Croatia will verify whether the investments declared are valid and meet the mentioned criteria. This can take up to several weeks or a few months for an analysis to be conducted.
- Temporary Residency Issuance: In the event of a successful review of the application, an applicant will be granted a one-year-long temporary residency. The said residency could be renewable to another on the continuous fulfillment of the terms of the program by the applicant.
Responsibilities of the Investor
The foreign investor who will be granted temporary residency is under obligation to comply with the following:
- The real operation of a company or maintaining investments throughout the residency period;
- To pay taxes as well as other dues under the laws of the Republic of Croatia;
- To observe the conditions of residence, for example, to continue to reside in the Republic of Croatia for the period provided for by law;
Although Croatia does not offer the classic “Golden Visa” program, foreign investors can obtain residency by fulfilling special requirements in the sphere of business, real estate investment, and strategic sectors of the economy. Observance of all the legal prerequisites, among which stand the legality of the source of income and meeting the undertaken obligations of job creation, is a serious component of successful residency.
Who is eligible for the Croatia Golden Visa?
It is well-known that many European Union countries have promoted the “Golden Visa” program, which grants foreign nationals residency or even citizenship in return for investments in that country’s economy. Unlike Portugal, Spain, and Greece, there is no official “Golden Visa” program on offer in Croatia. Legal pathways enable foreign investors to take temporary residence, and the latter option will be considered in some respects similar to the “Golden Visa”.
This article discusses who, through the basis of investment, shall have residency rights in Croatia and identifies the legal requirements to participate in such programs.
Legal Background
The Law on the Conditions of Entry, Residence, and Work of Foreigners in the Republic of Croatia determines laws under the legislation of the Republic of Croatia. According to this law, obtaining temporary and permanent residence in the Republic of Croatia, as well as acquiring Croatian citizenship, is based on acquisition and requirements, and the necessary procedure thereof is prescribed.
While there is no direct mechanism for a “Golden Visa,” different schemes exist aimed at attracting foreign investment. Investors receive temporary residency, possibly leading to permanent residency in due course, and even citizenship upon certain conditions.
Who Can Apply for Residency Through Investment?
Foreigners can apply for temporary residence in Croatia, including third-country nationals, provided certain conditions are met. Applicants may choose any of several options, depending on the form of investment. These include the following:
| Category | Description | Requirements |
|---|---|---|
1. Foreign Investors | Among the major groups that can apply for residency in Croatia, foreign investors have the chance. This class of people includes those who are ready to provide a major boost to the economy of the country through investments in the following sectors: |
|
2. Highly Qualified Professionals and Entrepreneurs | Temporary residence in Croatia can be allowed to foreigners, having certain qualifications or being entrepreneurs, on the condition that the latter stimulate the country’s economic development. A qualified professional and entrepreneur may obtain a residence permit based on the following cases: |
|
3. Foreign Citizens with Passive Income | Foreign citizens who can prove they have substantial financial means and stable passive income are also entitled to apply for temporary residence in Croatia. Included in this category are those earning income from investments, property lettings, dividends, or any other sources that do not imply active business operation within the country’s borders. | For this class of applicant, a primary requirement is that they have adequate means to support themselves from sources other than employment in Croatia or the exercise of a profession. The applicant’s financial independence should be documented. |
4. Purchasers of Real Estate Who Intend to Live There | While buying property in Croatia does not give one direct residency rights, it can become the ground for obtaining residency on specified terms and conditions. In the case where a foreign citizen has bought property with the purpose of residence rather than commercial, he or she can apply for temporary residency upon presentation of proof of stable income and financial stability. |
The acquisition of property in coastal areas of Croatia, like Dubrovnik, Split, or Istria, is a popular variant for foreign citizens who want to invest in real estate and simultaneously obtain legal residency.
General Conditions of Getting Residency
Regardless of the category of applicants that apply for the status of a resident in Croatia by means of investment, they must meet several requirements provided by legislation in common:
- Police Record Cleanliness: One should have a certificate of no criminal record from his/her country of citizenship and the countries in which he/she has lived during the past few years.
- Health Insurance: A foreigner is supposed to have valid health insurance, allowing him/her to cover all of the medical expenses in Croatia.
- Proof of Financial Stability: Applicants must prove to have sufficient funds to live in Croatia, which may be done with bank statements showing savings, documents evidencing income from investments or business.
- Legitimacy of Income Sources: The investments should be made through legitimate sources. The applicant needs to provide documentation that proves the legitimacy of the capital used.
- Physical presence in the country: The applicant must meet at least the minimum residence in Croatia. If he leaves Croatia for a continuous period exceeding six months, then he will be deprived of the status.
In case of five years of continuous residency based on a temporary visa, foreign citizens can apply for permanent residency. This shall be performed by confirmation that all the conditions were met which also includes the physical residency of an alien within the state and observance of all legal duties. The foreigner to whom permanent residence was granted may apply for Croatian citizenship if he meets additional requirements, such as for example the knowledge of the Croatian language and integration to the Croatian society.
Even though Croatia does not offer a standardized “Golden Visa” program, it does provide foreign investors, entrepreneurs, and those gaining passive income with a possibility to obtain temporary residence upon completion of certain requirements. The key categories will be residencies for investors, business creators, highly qualified professionals, and property purchasers.
Changes in the Golden Visa of Croatia, 2024-2025
So-called “Golden Visa” programs were popular across many European Union countries, attracting a lot of foreign investors in return for temporary residence. Croatia does not provide any officially framed “Golden Visa” program but does provide ways of obtaining temporary residence for foreign nationals who invest in business, real estate, or strategic sectors of the economy.
Some major legislative changes regarding the issue of residence through investment by foreign investors in Croatia are going to be made for the period from 2024 to 2025. The paper will proceed with the key changes, their legal implications, and how they are going to influence the residency obtaining procedure through investments in Croatia.
1. Status Quo of a Formal “Golden Visa” Program and Its Future
By the end of 2023, Croatia does not have an officially established “Golden Visa” system, such as Portugal, Greece, or Spain. At the same time, Croatian legislation provides for granting temporary residence to aliens through the incorporation of companies, investments in real estate, and other types of contribution to the national economy.
Consequently, it is envisaged that in the period from January 1, 2024, until December 31, 2025, Croatia’s government can establish a special investment program, which would be similar to the “Golden Visa” system. This can be directed at attracting more foreign investors and developing strategically important economic industries such as tourism, information technologies, and agribusiness.
2. Adjustment of Foreign Investor Requirements
Due to the current changes, new requirements and legislation concerning residency in exchange for investments for foreign citizens are foreseen for 2024-2025. Thus, the new conditions will be more transparent for investors, and the illegality of the source of their capital will be better controlled. The main innovations may regard:
- Higher Minimum Investment Requirements: The minimum capital required for a foreigner to invest in a company to apply for temporary residency is currently 200,000 Croatian kunas, approximately €26,000. This amount may be increased in the new reform to achieve quality control of investments and prevent abuses.
- Job Creation Requirements: Currently, foreign investors are bound to create at least three jobs for Croatian or EU citizens. This appears to be one of the coming requirements that will choke by demanding an increase in job creation or investments in vital strategic sectors of the economy.
- Stricter income source verification: Croatian authorities will increase scrutiny of the source of investors’ capital, as there is more concern about money laundering and terrorism financing. New regulations may ask the applicant to submit more elaborate documentation proving the source of their funds.
Currently, investing in real estate in Croatia does not provide residency directly; nevertheless, it can be a reason for residency, provided some additional requirements are met. In 2024-2025, several new restrictions can be imposed on real estate investors to prevent overheating in the residential market and speculation. Among the new measures may be:
- Higher Minimum Value of Property: It may be a requirement by the residency that the investor buys property above a certain minimum value. This will deter the purchasing of very cheap properties just for residency reasons.
- Restriction on Selling of Property for a Fixed Period: There may be a clause that forbids the selling of the property for the first couple of years after achieving residency. This is useful in trying to curb speculation in the market.
3. Streamlining Procedures for Strategic Investors
One of the expected changes for 2024-2025 is accelerating procedures for strategic investors interested in key sectors of the Croatian economy. Sectors such as tourism, agriculture, IT, and infrastructure projects will be prioritized, with extra benefits offered to big investors.
Among the accelerated residency procedures that can apply to an investor are the following:
- Investing large sums in developing strategic projects and infrastructure;
- Create a high volume of employment opportunities;
- Substantively contribute to the creation of high-tech industries and new innovations.
Examples of such steps could be a decrease in the time for the processing of applications and a simplification in the administrative procedures.
4. Enhanced Investor Obligation Oversight
Unfortunately, during the past years, there appeared a problem of investors who, having obtained temporary residency, failed to comply with their commitment. This may be viewed as an investor abandoning the business or/and failing to honor the commitment of creating jobs. Consequently, a better program compliance will be implemented in 2024-2025.
- Periodic Reporting: The investors gaining residency are required to periodically report their business status as well as the creation of jobs. Residency may be revoked in the case of non-fulfillment.
- On-Site Inspections and Audits: For purposes of legitimacy, an investor’s business may be scrutinized by the authorities in person, or maybe checked by satisfying pre-set requirements.
In this respect, tax incentives and a stable tax regime remain the key issues to be afforded to foreign investors in Croatia. Nevertheless, for the period 2024-2025, other conditions might be considered by the Croatian government also, especially with respect to the new categories of investors, such as:
- The opportunity to offer new tax incentives to large investors in priority sectors.
- Increase in tax rates for the investors who acquire residency with the help of schemes connected to buying properties for totally non-business purposes.
Changes envisaged for 2024-2025 will bring even more perfection to the legal framework of granting temporary residence through investments in Croatia, with more stringent source-of-income checks of the applicant, higher minimum investment requirements, obligations regarding job creation, and more restrictive rules for real estate investors. This will indicate on a higher level Croatia’s seriousness about quality foreign investments and the better protection against abuses of its economy.
Golden Visa Croatia for Indian Citizens
The “Golden Visa” is an immigration program available to many European Union countries, offering foreign investors residency in exchange for investments in the economy of that country. This, however, does not stop Croatia—an EU member—from offering foreign residents, including Indians, a chance for residency through investment. However, the country does not have an official “Golden Visa” program like Portugal, Spain, or Greece. Nonetheless, Croatia has routes for foreign investors to obtain temporary and, in turn, permanent residence.
This paper discusses the most important legal considerations and requirements for Indian citizens seeking residency in Croatia through investments, as well as practical recommendations regarding how to meet the criteria of the program.
Legal Framework
The Foreigners Act – in Croatian, Zakon o strancima – gives a basis in immigration and residency permits in the Republic of Croatia. Under this law, foreign citizens may be granted temporary or permanent residence in the country. The Croatian legislation has not consolidated what is popularly known as a “Golden Visa”; yet it does allow foreigners residence based on large investment interests in the economy.
1. Who Can Apply for Residency Through Investment
Indian citizens, who meet certain investment conditions, can apply for temporary residency in Croatia. The main categories of foreign citizens for whom such an opportunity is provided include:
| Investor Type | Description |
|---|---|
| Business Investors: | Citizens of India are allowed to open or purchase a company in Croatia. It is the most common means through which residency via investment is obtained. |
| Real Estate Investors: | Although real estate purchase does not provide direct residency rights, under certain conditions, a basis for temporary residency may be accorded for this. |
| Investors in Strategic Economic Sectors: | Indian citizens can obtain residency by investing in tourism, agriculture, IT, and other strategic infrastructure projects. |
Indian citizens who would want to apply for residency through investment should satisfy the following bare minimum requirements:
A. Business Investments
| Requirement | Description |
|---|---|
| Company Registration: | An Indian citizen may open a company in Croatia. The most common type is the društvo s ograničenom odgovornošću, d.o.o. – similar to a limited liability company known in other jurisdictions. |
| Minimum Share Capital: | The minimum share capital required for company registration is HRK 200,000 or about €26,000. This should be declared and utilized for the development of the company. |
| Job Creation: | The investor is supposed to provide a minimum of three jobs to Croatian nationals or those from other EU nations to enable residency. This will help in employment and growing the economy. |
Immigration to Croatia can be done by the citizens of India via investment, but purchasing property is not the sole criterion; rather, the applicant needs to meet other requirements that include the following:
| Requirement | Description |
|---|---|
| The Use of Property: | The investor has to assure that his purchased property will be used for personal living and will not be utilized for any commercial purpose whatsoever. |
| Economic Stability: | The investor has to prove that he has sufficient funds to live in Croatia and would not have to work. |
B. Investments in Strategic Projects
Indian citizens who will invest in major infrastructure projects or in strategically important branches, such as tourism or agriculture, may be granted temporary residence in accordance with facilitated procedures. Such projects can be supported by the Croatian authorities in case their realization positively influences the development of strategically important sectors.
2. Temporary Residency Procedure
The temporary residency procedure for citizens of India involves several steps. For successful permission, the applicant has to follow the line of the proceeding below:
Document Preparation:
- Foreign passport;
- No crime record certificate;
- Documents confirming the investment made - such as documents of company registration, documents of purchasing real estate;
- Documents that confirm legality of sources of income;
- Health insurance that covers their medical treatment in Croatia.
Application Submission:
Application Review:
Temporary Residency:
3. Legal Obligations and Responsibilities of Investors
Following temporary residency, Indian citizens would need to satisfy Croatian legal requirements to:
- Business Maintenance: The company registered in Croatia will have to be genuinely conducting business in Croatia and maintain the jobs created. If not performed, it may lead to the revocation of residency upon the investors’ failure in such obligations.
- Reporting: Investors will be obliged to provide regular financial reporting to tax authorities and other governmental institutions.
- Residency in the Country: Regarding residency, the investor actually needs to be in Croatia for at least 6 months of the year.
Such citizens of India, who have been granted temporary residence based on investments, may apply for permanent residence after a period of continuous residence in the Republic of Croatia of at least 5 years if they confirm that the invested funds continue to contribute to the economic interest of the Republic of Croatia and fulfill the requirements referred to under other items.
Indian citizenship can then be applied for with the achievement of permanent residency status after at least 8 years of residence in the country, with fulfillment of all mandatory conditions including language proficiency in the Croatian language.
Although Croatia does not offer an official “Golden Visa” program, Indian citizens may utilize the existing legal mechanisms allowing temporary residency through investment in business, real estate, or strategic projects. On the other hand, all legal requirements and conditions that the program entails should be duly fulfilled to confer residency and other benefits provided by Croatia, for instance, traveling without a visa to countries within the EU and Schengen Zone.
Croatia Golden Visa for Pakistani Citizens
The so-called “Golden Visa” program is an immigration scheme through which foreign nationals obtain residency in consideration of serious investments into the economy. However, unlike many other European Union countries, Croatia has not developed and offered a certain “Golden Visa” program per se under its laws. Still, Croatian legislation provides mechanisms for foreign citizens, including those from Pakistan, to obtain residency through investment.
This article presents the legal aspects of obtaining Croatian residency through investment in business, real estate, and strategic sectors of the economy for Pakistani citizens. It analyzes the requirements, application process, and obligations necessary to successfully obtain resident status.
Legal Basis
The Croatian legislation regulating the provision of residency to foreign nationals is governed by the Foreigners Act (in Croatian: Zakon o strancima). This regulation describes the conditions for obtaining temporary and permanent residency in the country, as well as special conditions under which foreigners can invest in the Croatian economy.
Even though there is no formal “Golden Visa” program, Pakistani nationals can obtain residency based on:
- The creation of a company or investment in an existing company;
- Buying real estate with the condition of fulfilling special requirements;
- Investment in priority sectors of the economy, such as tourism, agriculture, and IT.
1. Who Can Apply for Residency Through Investment?
Pakistani citizens can apply for temporary residency based on investment through the established legal requirements. Three main categories of applicants can utilize this opportunity:
A. Business Investors
Pakistani citizens may be granted temporary residency by registering a company in Croatia or purchasing an existing business. The main conditions justifying granting resident status based on business investment are:
- Company Registration: The most common type is the limited liability company, in Croatian društvo s ograničenom odgovornošću, d.o.o., similar to LLCs in other countries.
- Minimum Capital Requirements: The minimum share capital for company registration must be at least HRK 200,000, approximately €26,000.
- Job Creation: A minimum of three jobs must be created for Croatian nationals or EU citizens.
This route is the most popular among foreign investors because it allows for both obtaining residency and engaging in active entrepreneurial activities within the country.
B. Real Estate Investments
Buying real estate does not automatically grant residency rights to Pakistani citizens. However, real estate can be a basis for obtaining temporary residency, provided that additional requirements are met:
- Property Use for Residency: The purchase must be justified for personal needs rather than investment purposes. Buying commercial real estate does not automatically grant residency rights.
- Financial Stability: The applicant must demonstrate stable income and sufficient funds to live in Croatia without needing to work.
C. Investments in Strategic Economic Sectors
A residence visa for Pakistani nationals can be granted upon making significant investments in key sectors of the Croatian economy, such as tourism, agriculture, infrastructure, and high technology. Investors in these key sectors can benefit from streamlined residency procedures.
2. Basic Requirements for Obtaining Residency Through Investment
To obtain temporary residency in Croatia through investment, Pakistani citizens must meet several legal requirements. These requirements relate to both the investment itself and the general legal status of the applicant.
A. No Criminal Record
All applicants must provide a certificate of no criminal record from their country of origin and from any countries where they have lived in recent years. A clear criminal record is required for all applicant categories.
B. Health Insurance
Applicants must have valid health insurance covering necessary medical expenses in Croatia; the absence of such health insurance may lead to a denial of temporary residency.
C. Proof of Investment
To obtain residency, applicants must provide documents verifying their investments. For instance, when registering a company, incorporation documents and financial statements must be presented to demonstrate the investment of share capital.
D. Source of Income
All investments must originate from legitimate sources. Applicants are required to furnish documents proving the legality of the funds used for their investments.
3. Application Procedure
The step-by-step application procedure for temporary residency for Pakistani citizens through investment includes the following:
- Document Preparation: The applicant must prepare a complete set of documents, including a passport, certificate of no criminal record, proof of investment, financial documents, and health insurance.
- Application Submission: Documents can be submitted to the Croatian consulate in Pakistan or to the immigration authorities in Croatia. All documents must be translated into Croatian and notarized.
- Application Review: Croatian authorities will validate all provided documents and verify the legitimacy of the declared investment. This process may take a few months.
- Temporary Residency Granting: Upon successful review, the applicant will be granted temporary residency for one year, which is renewable.
4. Investor Obligations and Rights
After obtaining temporary residency, Pakistani nationals must fulfill various legal obligations:
- Investment Maintenance: The Croatia-registered company must continue its operations, fulfill its economic obligations, and maintain the jobs created.
- Financial Reporting: Investors are required to provide regular financial reports to tax authorities and comply with the country’s tax laws.
- Residency in the Country: Applicants must reside in Croatia for at least six months per year to maintain their resident status.
After five years of continuous residency based on a temporary residence permit, Pakistani nationals can apply for permanent residency in Croatia. They must confirm that their investments continue to benefit the country’s economy and that they meet all legal obligations.
Once permanent residency is obtained, Pakistani nationals can apply for Croatian citizenship after residing in the country for at least eight years, along with meeting other requirements such as proficiency in the Croatian language and integration into the community.
Although Croatia does not have an official “Golden Visa” program, Pakistani nationals can obtain temporary residency through various investments in businesses, real estate, and projects of strategic interest. To do this, applicants must complete all legal formalities as prescribed by Croatian law, demonstrating the legality of their income sources and fulfilling obligations related to job creation.
Croatia Golden Visa for Nepali Citizens
The “Golden Visa” concept is an immigration tool for many European Union countries. By making substantial investments in the economy of a particular nation, foreign nationals can get residency or even citizenship. While there is no “Golden Visa” program per se in Croatia, like those in Portugal or Spain, Nepalese citizens, along with other foreign investors, have the opportunity to attain temporary residency through different investment mechanisms available under Croatian law.
This article will deal with what the law stipulates and what the processes involved in granting residency to Nepali nationals through an investment route in Croatia. Salient features of the investment-based residency application process are given below.
| Section | Description |
|---|---|
1. Legal Framework | The law dealing with temporary or permanent residence in Croatia is based on the Act on Foreigners. This legislation sets terms and conditions, as well as a procedure for foreign citizens, including Nepali nationals, for obtaining residence permits based on their investment into the Croatian economy. While there does not exist an officially named “Golden Visa” program in Croatia, there exist mechanisms that may contribute to helping investors get residency with the following:
|
2. Who May Apply for Residency by Investment? | According to the investments made, Nepalese citizens may be granted Croatian residency if a number of legal conditions have been satisfied. The main groups which may be taken into consideration are the following: A. Business InvestorsNepali nationals may apply for temporary residence by setting up a company or buying shares in an already existing Croatian company. This is the most popular means of investing in residence. The basic requirements include:
B. Real Estate InvestmentsApplying for buying real estate can also be one of the grounds for temporary residency, but it is possible only if the following conditions are complemented correspondingly:
C. Investment in Strategic Economic SectorsAnother opportunity for Nepal citizens to apply for temporary residency is through serious investments in key sectors of the Croatian economy, such as:
These investments should be significant and one that contributes to the building of the economy of Croatia. |
3. Basic Eligibility Criteria for Residency Through Investment | Residency through the application of investment is governed by a few legal variables that a Nepalese citizen must satisfy in order to get the residency of Croatia. The primary requirements are: A. Clean Criminal RecordAll applicants, including Nepali citizens, are required to provide a certificate of no criminal record from the authorities of their State of residence and other states in which they have stayed over recent years, duly legalized. B. Health InsuranceApplicants should have valid health insurance to cover the medical expenses in the Republic of Croatia. That is the general rule that every foreigner is supposed to fulfill along with the application for residence. Documents proving the applicant’s investments, such as documents of company registration, financial reports, real estate purchase contracts, and all other relevant materials should be provided. C. Legitimacy of Income SourcesAll investments shall be made from legally obtained funds. Applicants must provide documentation proving the legality of the capital utilized in investments. |
4. Application Procedure | A temporary residence permit for citizens of Nepal will be issued upon application through the following procedure:
|
5. Obligations and Responsibilities of Investors | After obtaining temporary residence, Nepalese citizens are under obligations to fulfill certain legal and financial responsibilities. These include:
|
6. Permanent Residency and Citizenship | After five continuous years of residence in temporary status, Nepali citizens have the right to apply for permanent residency. This would be on confirmation of compliance with all the conditions of the program and the legitimacy of investments being made. If permanent residence is acquired, then the candidate shall apply for Croatian citizenship after eight continuous years of residence in Croatia and upon the fulfillment of other conditions, such as sufficient Croatian language proficiency and social integration. Although Croatia does not have a “Golden Visa” program as such, Nepali citizens may use already available legal mechanisms to gain residency through investments. Accordingly, investment in businesses, real estate, or strategic sectors of Croatia’s economy provides foreign nationals with an opportunity to acquire legal residence in the country and conduct economic activities. |
Croatia Golden Visa for Bangladeshi Citizens
The so-called “Golden Visa” programs of some European Union countries allow foreign citizens to be granted residence or even citizenship in return for substantial investment into the economy of that country. Although Croatia does not have a so-called “Golden Visa” program, there are ways for Bangladeshi citizens to obtain temporary residence permits through investment. The following article shall elaborate on the legal framework, procedures, and requirements of residence in Croatia for Bangladeshi citizens through investment and then shall provide detailed information on prospects related to obtaining permanent residency and citizenship.
Croatian legislation, which allows the acquiring of temporary or permanent residence by foreign nationals, is governed by the Act on Foreigners (Zakon o strancima). It provides a legal mechanism and procedures for granting temporary and permanent residence in return for investments in the economy of Croatia by means of establishing an enterprise or acquiring real estate. While Croatia does not provide a typical “Golden Visa,” third-country nationals, including Bangladeshi citizens, can get temporary residence provided the required conditions of investment are met.
2. Who Can Apply for Residency Through Investment?
Bangladeshi citizens can apply for temporary residence in Croatia on the basis of fulfilling the requirements set by the country relating to investment. The major heads of applicants who are considered for residency through investment include:
A. Business Investors
One of the most common methods through which Bangladeshi residents receive residency involves the registration of a company or investing in an existing company in Croatia. The requirements for this include the following:
- Company Registration: The investors may open a d.o.o.-a limited liability company, an analogue of LLC in other countries.
- Minimum Share Capital: The statutory share capital of the company to be registered must be at least HRK 200,000, approximately €26,000.
- Employment Creation: The company should create a minimum of three jobs for the citizens of Croatia or other EU nationals.
B. Investment in Real Estate
Although it does not have the sole right to residency, buying property can work as the ground for getting residency if there is fulfillment of complementary requirements:
- The Purpose of Using Property for Living: It has to be used for living and not for commercial purposes.
- Financial Stability: The applicant must demonstrate a stable income sufficient to cover living expenses in Croatia without the need to work.
C. Investments in Strategic Economic Sectors
Bangladeshi citizens willing to invest in key sectors of the Croatian economy, such as tourism, agriculture, IT, and infrastructure, may also apply for temporary residency. Investments in these sectors can serve as a basis for obtaining a residence permit.
3. Eligibility Criteria for Temporary Residency by Investment
Bangladeshi citizens will have to meet the following fundamental requirements for availing temporary residency on the basis of investment:
A. No Criminal Record
The candidate will obtain a no criminal record certificate from his or her native country and any other country where he or she has resided during the past couple of years. The document in question will confirm that the candidate has no past felony and is eligible to apply for residency in Croatia.
B. Statement of Income Sources
Applicants are obliged to prove the legality of their sources of finance. That means everything used for investment is to come through legal means. Investment Ownership shall provide an investor’s financial statements, bank account statements, and all other forms proving the source of capital.
C. Health Insurance
Every foreign applicant for temporary residence in Croatia is under obligation to have health insurance that covers the medical expenses in the country.
4. Temporary Residency Application Procedure
Application procedure for Bangladeshi temporary residency: Following steps need to be considered accordingly. Documents preparation which includes passport, no criminal record certificate, proof of investment, health insurance, and financial reports are required.
- Application Submission: An application may be submitted either through the Croatian Consulate in Bangladesh or directly to the Croatian immigration authorities. Documents are to be prepared in Croatian and should be attested.
- Temporary Residency Issue: The applicant, upon approval, will be granted a residence permit for one year and is renewable upon application. Conditions for renewal are the continuation of requirements in the program in terms of operating a business or ownership of property.
5. Investor Responsibilities After Receiving Residency
After receiving temporary residency, Bangladeshi citizens are obliged to adhere to some legal responsibilities:
- Business Maintenance: The applicant, with the company being registered in the Republic of Croatia, has to be an active participant in economic activities and maintain the newly created jobs. If failed, residency shall be annulled and cancelled.
- Tax Reporting: Besides, investors are required to file a tax return and pay all the taxes under the laws of the Republic of Croatia.
- Residency in the Country: To retain temporary resident status, the individual must reside in Croatia for a significant portion of the year.
6. Prospects for Permanent Residency and Citizenship
After five years of continuous residence in the Republic of Croatia on the grounds of a temporary residence permit, Bangladeshi nationals can apply for a permanent residence permit provided that their investment continues to contribute to the economic interest of the Republic of Croatia and by fulfilling all the legal and financial requirements.
Having stayed in Croatia for eight continuous years at the time when permanent residence is granted, an applicant can apply for citizenship, provided he meets various other legal requirements, including proficiency in the Croatian language.
Although there is no Golden Visa in Croatia, the country has investment opportunities with businesses, real estate, or strategic economic sectors to Bangladeshi people for temporary residency. All the legal terms and requirements along with business or property maintenance-related obligations play a vital role in successful residency acquisition.