Czech Republic golden visa
The Czech “Golden Visa” program is a special legal mechanism thanks to which foreign residents can obtain a residence permit in return for investments into the economy of this country. In comparison with other European Union countries, such as Portugal, Spain, and Greece, there is no officially established “Golden Visa” in its traditional form. Nevertheless, there do exist legal ways of obtaining residency through investments in business and real estate that could well be considered an alternative to a “Golden Visa”. This article will discuss the main legal aspects and conditions applicable to foreign nationals for obtaining residency in the Czech Republic through investments and will also describe the course of the application and the rights granted to the investors.
Lack of a Formal “Golden Visa” Program and Available Investment Mechanisms
As of today, the Czech Republic has not introduced a formal “Golden Visa” program yet, like other EU countries. Nevertheless, under the Czech legislation, there are certain possibilities to get temporary and permanent residence for foreign investors. The main ways of residency through investment are as follows:
- Company registration and conducting business activities.
- Business investments that give rise to employment opportunities for nationals of the Czech Republic.
- Investment into strategic projects and industries of the economy.
These can be used by third-country nationals as a means to temporary or permanent residence in the Czech Republic.
The main requirements to obtain the residence in the CR by means of investing
The investment requirements for temporary residency of a foreign investor in the Czech Republic are many and varied, both legally and financially. According to Czech Law, a foreigner has the possibility of acquiring temporary residency in the Czech Republic through company registration or investment in a currently operating business. The main requirements for this type of investment include:
- Business Setup: Each foreign citizen may submit the application for a limited liability company-s.r.o., similar to LLC. The minimum statutory share capital is 1 Czech koruna, though companies are usually established with a higher capital for better financial viability.
- Perform Real Economic Activity: The business should operate and earn profit. The firm shall pursue active business activity in the Czech Republic, without being only a so-called ‘letterbox company’.
- Job Creation: The company has to create jobs for the citizens of Czech or other EU nationals. This condition proves that the business contributes sufficiently to the national economy and helps to enhance employment opportunities.
Czech law does not permit residence based on the purchase of property alone. The acquisition of real estate property can, nonetheless, represent the ground for an application for temporary residence if it is supplemented by other requirements such as having stable income that is sufficient for living in the Czech Republic without the need to work within its precincts.
C. Investments in Strategic Sectors of the Economy
The Government of the Czech Republic supports foreign investments in priority fields of economy, such as:
- Innovative technologies and IT.
- Manufacturing enterprises, as well as infrastructure projects.
- Research and development.
Investors who invest substantial funds into these sectors and contribute to the economic growth of the Czech Republic have the right to accelerated application procedures and special advantages in residence application procedures.
D. Financial Viability and Proof of Sources of Income
The foreign investors are required to prove that their source of income is not only stable but also legal. This income must be enough to ensure that they can sustain themselves in the Czech Republic without applying for a job.
- Business Registration: If residency is required due to the main business activity, then the applicant has to register a company in the Czech Republic.
- Preparation of the Documents: The applicant needs to prepare a full set of documents, which includes investment proof, financial statements of the company, a criminal record certificate, a document confirming sufficient funds for living expenses, and health insurance.
- Application Submission: Applications can be submitted at the Czech Republic consulate in the applicant’s country of residence or to immigration authorities within the Czech Republic. All documents should be translated into Czech and notarized.
- Application Review: The documents presented will be checked by relevant authorities for their conformation to the legal requirements in immigration. This will take anywhere from some months to a year, depending on the type of investment or the complexity of the case.
- Temporary Residency Issuance: In case of approval, this allows the applicant to have temporary residency valid for two years and extendable. The investor is allowed to apply for permanent residency after five years of residence on a temporary basis.
Rights and Obligations of Investors
After obtaining temporary residency, foreign investors receive a number of rights but also bear certain obligations.
- Right to Reside: This residence permit allows its holder to live legally in the Czech Republic.
- Right to Conduct Business: Investors have the opportunity to conduct their business in the country and receive any profits therefrom.
- Freedom of Movement: Once residency has been obtained, an investor has the right to move freely in the Schengen Zone for up to 90 days in any 180-day period.
- Social Services Access: Also, the investors and their family members shall have access to the healthcare system and educational institutions in the Czech Republic, correspondingly.
Obligations:
- Business Maintenance: It is obligatory for the investor to maintain the business throughout the residency period. In other words, the company has to be kept active at least for the duration of one’s residency and provide employment to the Czech or EU citizens.
- Tax compliance: All companies must comply with and pay Czech taxes and submit one annual financial report.
Transition to Permanent Residency and Citizenship
A foreign investor has the right to permanent residency in the Czech Republic after five years of continuous residence on a temporary residency permit. The applicant is supposed to confirm that he/she continues to conduct business and is meeting all legal requirements on his part.
Upon getting permanent residency, in a couple of years, the investor will have the opportunity to apply for Czech citizenship, provided he meets such conditions as knowledge of the language, integration into society, and having no criminal record.
Although the Czech Republic does not have a “Golden Visa” like many other countries, it nevertheless provides quite broad opportunities for getting residency through investments either in business or in strategic sectors of the country’s economy. In this respect, foreigners who comply with the program requirements and invest serious money in the development of the Czech economy can be guaranteed temporary and, later on, permanent residency, potentially leading to citizenship.
Benefits of the Czech Republic Golden Visa
Although the Czech Republic does not have a formalized “Golden Visa” in the usual form, the state offers several opportunities for foreign investors to obtain residency through investments into the economy, which can be considered an alternative to a “Golden Visa.” The options outlined above make the country appealing to international investors who wish to have access to the European Union, legal stability in the Czech Republic, and favorable business conditions.
The following article explains the main legal benefits of the “Golden Visa” program for foreign citizens of the Czech Republic, including the following: economic advantages and a review of the legal opportunities open to investors.
Right to Reside in a European Union Country
The most valued benefit of the “Golden Visa” programme of the Czech Republic is the residency in a European Union country. This opens up considerable rights and opportunities for the investor and family members:
- Right of Residing in the Czech Republic: Through the residency permit, the investor and his family have the right to reside legally in the Czech Republic. In this regard, it allows them to do business, earn income in the country, and use the social services.
- Freedom of movement within the Schengen Zone: A residence permit holder in the Czech Republic is allowed to travel freely across the Schengen Zone with no extra visas required. This right can be exercised for a period of up to 90 days in any 180-day period and is especially alluring to investors with international business.
Being a member state of the European Union, the Czech Republic offers a very high level of protection for foreign investors via its laws. That means there is good stability and security on the level of investments:
- Legal Stability: The Czech Republic has a well-advanced and highly respected legal system with a well-developed rule of law and good governance standards. This fact in itself ensures that the rights of investors and their property are duly protected, making the country an ideal place for investment for the long term.
- EU membership: Investors are, thus, always confident that their rights are included in the European legislation with string measures that protect the foreign investments and property as well as commercial activities.
- Asset protection: Czech legislation is protecting the property of foreign citizens by protecting it from illegal expropriations and unjust nationalizations. This issue is essential for investors who put considerable assets into business or real estate in the country.
The Czech Republic provides foreign investors with very good business conditions. Many opportunities open for an investor, through investments either in business or in strategic sectors of the economy, through the “Golden Visa” program.
- Low Taxes: The Czech Republic has one of the lowest corporate tax rates in Central Europe at 19%. This, therefore, means that the country is in great demand for company registration and international enterprise.
- Stable Economy: The Czech Republic shows stable economic growth and resilience during recent world economic crises. Thus, it is a secure jurisdiction to invest in.
- Developed Infrastructure: It means modern infrastructure of transport, logistics, and telecommunications networks. The Czech Republic has it all, which helps to support business processes and attract international investors to the country.
Obtaining residency in the Czech Republic means access to the huge single European Union market-a major attractiveness factor for international companies and investors:
- One Single EU Market: Residency in the Czech Republic offers access to an EU market with more than 500 million consumers, opening wide opportunities for free trade, business operations, and expansion within this single market.
- Trade Freedom: Investors can profit from free movement of goods, services, and capital within the European Union. This makes export and import activities easier, as well as contract negotiations and branch openings with other EU countries.
- Innovative Technologies and Startup Investments: The Czech Republic is highly active in developing its high-tech and innovation sectors. Investors in IT, biotechnology, or scientific research can take advantage of various tax incentives and government support for startups and research projects.
Opportunity for Permanent Residency and Citizenship
The “Golden Visa” program offers the opportunity for permanent residency and, subsequently, citizenship to foreign investors, in addition to temporary residency:
Permanent Residency:
Czech Citizenship:
Residency for Relatives:
Access to Education:
Although the “Golden Visa” isn’t formalized within the meaning of the word, it does open specific unique opportunities for foreign investors to get their residence through investment. The main advantages of this program will be the possibility to reside in a European Union country with access to the Single European market, protection of investment, and doing business in a very favorable economic environment.
Requirements of the Czech Republic Golden Visa Program
The Czech Republic does not have a “Golden Visa” program in the proper sense, unlike other European Union countries such as Portugal or Spain. Nevertheless, foreign investors can obtain residency in the Czech Republic through investments either in business or in real estate. This article will provide an overview of the key legal conditions that have to be met for obtaining residency in the Czech Republic through investments.
Legal Conditions for Residency through Investment
The investment for residency in the Czech Republic is targeted at foreigners who hold neither European Union nor European Economic Area citizenship. The largest groups that this program tries to reach include: non-EU residents who would like to invest in the economy of the Czech Republic either by buying real estate, creating a new company, or taking part in strategic investment projects.
- Family members of the principal applicant would include spouses and children below 18, in addition to dependent children above the age of 18.
Key Requirements of the Program
Applicants for residency through investment must pass a variety of key requirements, which concern the extent of investment, the type of business, and the applicant’s legal status.
A. Business Investment
One of the main ways to obtain residency in the Czech Republic is registration of a company or an investment in an already existing business. The main conditions for participation in the program are:
- Establishing a Business: Foreign investors may open a company in the form of a limited liability company-s.r.o., which is, up to now, the most common form for foreign investors in the Czech Republic. The minimum registered capital can be as low as 1 Czech koruna, but in practice, companies with higher capital are more trustworthy and meet the requirements for conducting real business.
- Carrying Out Actual Economic Activity: It should carry out active operations where the economic contribution is involved. These may range from the manufacture of goods, providing services, and other commercial ventures. It should not be a shell company nor considered only for immigration reasons.
- Job Opportunities: The company should be able to provide a certain number of job opportunities to Czech or EU nationals. This could differ based on the nature of the business, which in return would add to the economy of the country through the creation of more jobs.
B. Real Estate Investment
Unlike many other countries, buying property in the Czech Republic does not automatically convey residency. On the other hand, the purchase of business real estate or investments into large construction projects may be subject to residence provided an investor intends to use the property for business purposes. The main requirements of the investment into real property are:
- Commercial Use: The property invested in needs to be used commercially, such as house letting or office building construction. In cases of buying a property for personal residence, this cannot constitute grounds for residency.
- Minimum Investment Threshold: There are no statutory minimum thresholds in the case of residency based on investment in real estate; generally, investment with a considerable amount of funds that contributes to the development of the economy is usually required.
C. Investing in Strategic Projects
The Czech Republic is actively developing the following key branches: investments in high technology and IT; manufacturing enterprises; infrastructure projects. With regard to residence in the Czech Republic, investors who invest large funds in the main sectors of economy can enjoy accelerated procedures while processing their residence application. The above approach will be especially attractive for those who will be willing to provide significant funds for the benefit of the economy of the Czech Republic by offering new solutions or developing production.
D. Financial Stability and Proof of Legitimacy of Income
For residency, the investor must prove that he has stable and legal sources of income sufficient to live in the Czech Republic. The requirements are as follows:
- Income Verification: This would involve documentation that proves the availability of financial resources. This may include bank statements, tax returns, and documents confirming business income.
- Proof of Legitimacy of Income Sources: All funds used for investment must be acquired legally. In this respect, documents confirming the origin of capital are required.
In case the applicant is a citizen of a state, he should provide a criminal record certificate issued by his country of citizenship and countries where he resided during the past five years. The certificate should confirm the lack of criminal convictions that may prohibit issuing residency.
Foreigners who wish to reside in the Czech Republic should have health insurance that is valid for the entire period of their stay and which will cover all necessary medical treatment with no limits. The period of validity of the insurance shall be set so that it coincides with the period of validity of the residence.
Application Process
The application process for residency through investment in the Czech Republic consists of several steps:
- Preparation of the Documents: The applicant needs to prepare a full package of documents, including a valid passport, documents that confirm investments, a criminal record certificate, documents confirming income, and health insurance.
- Registration of the Company or Confirmation of the Investment: If an applicant intends to get residency through opening a business, one will need to register the company in the Czech Republic and provide confirmation of actual activity.
- Application Filing: The application should be filed with the Consulate of the Czech Republic in the home country of the applicant or with immigration authorities in the Czech Republic. All documents are to be translated into the Czech Language and notarized.
- Application Review: All documents are reviewed by immigration authorities for program requirements. It could take several months to a year, depending on the case’s complexity and investments that have been involved.
- Temporary Residency: Temporary residency will be granted to the investor and his family upon successful review for two years, which is extendable.
Investors’ Rights and Responsibilities
Along with the residency obtained in the Czech Republic, foreign investors and their families have a set of rights and are also bound by certain obligations.
Rights
- Right to Reside: Residency permits legal residence in the Czech Republic.
- Right to Conduct Business: Investors can operate a business on Czech Republic soil and derive profits from their business.
- Freedom of Movement: The investor will enjoy free movement within the Schengen Area for 90 days, starting from any period of 180 days, after residency has been approved.
- Social Services Access: Investors and their family members are accorded public social services, which include health care and educational institutions.
Responsibilities
- Investment Maintenance: Investors are supposed to hold their investments for the entire residency period. The company shall continuously be active and generate employment opportunities.
- Obligation to Adhere to Tax Law: Companies running businesses in the Czech Republic should observe tax legislation. They need to file an annual report of its financials.
Permanent Residency and Citizenship Opportunities
After five years of permanent residence on the ground of a temporary residence permit, investors may apply for permanent residence. This type of status will grant additional rights and opportunities: unlimited permission for employment and social benefits. Once they achieve permanent residency, in some years and under certain conditions, foreigners can apply for Czech citizenship, such as proving knowledge of the Czech language and integration into society.
Investment in the residency program of the Czech Republic opens wide perspectives for foreign citizens to conduct business and live in this country. The key demands of this program are investments into business or real estate, or strategic projects, confirmation of the legality of incomes, and correspondence to legal standards.
Who Can Get a Czech Republic Golden Visa?
Although the Czech Republic does not have a “Golden Visa” scheme, like other EU countries, it does offer residence to foreign investors in return for large investments in the national economy. In fact, this channel plays the role of the so-called “Golden Visa,” allowing the investor to live in the country by building businesses or investing in some strategic projects. The article below explains in detail the basic elements of the primary laws that regulate residency through investment in the Czech Republic and defines those categories of foreign nationals who can apply for this program. It is open to all foreign nationals who originate from other countries that are not members of the European Union or the European Economic Area. The principal applicants fall into the following categories: those who can invest substantial amounts of money into the economy of the Czech Republic through business establishment, real estate investing, or strategic projects.
- Family members of the primary applicant, including spouses, minor children, and adult children under 25 who are financially dependent on the primary applicant.
Legal Categories of Individuals Eligible for Residency through Investment
The law of the Czech Republic provides for various categories of foreigners who may be granted residency in accordance with their investments. These range from business registration to investment in real estate to participation in strategic projects.
A. Foreign Entrepreneurs and Business Investors
One of the main categories for obtaining residency through investment covers foreign entrepreneurs and businessmen interested in opening or investing in a company in the Czech Republic. The main conditions in this regard are:
- New Company Setup: Through registration, the foreigners can set up a Limited Liability company, s.r.o., one of the most common forms in which a company operates in the country. This company must operate active economic activities within the country.
- Investing in an Existing Business: Applicants may also invest in an already established company registered in the Czech Republic. The investment should contribute to the business’s growth and demonstrate a positive economic impact.
- Job Creation: A vital condition for obtaining residency is creating job opportunities for Czech or EU nationals, confirming that investments contribute to the country’s economic development.
B. Real Estate Investors
Although purchasing a house in the Czech Republic does not grant automatic residency, foreign investors can take this option subject to certain conditions below.
- Investment in Commercial Property: An applicant can invest in commercial real estate utilized for business enterprises, such as offices, retail outlets, or manufacturing facilities. Such property must generate some income or, at a minimum, serve useful economic activity.
- Minimum Quanta of Investment: The investor seeking residency through the purchase of real estate must be prepared to invest considerable funds, although the exact minimums will depend upon the type of property involved and the purpose for which it is used.
The Czech Republic also actively encourages foreign investments in key economic branches, including high technology, innovation, and infrastructure projects. Foreign investors willing to invest in these areas can also obtain residence. Requirements which support this group include:
- Innovative Technologies and Research: Investors investing funds in high-tech companies or research and development projects will be entitled to a special title for accelerated processing of applications for permanent residence in the Czech Republic.
- Infrastructure Investments: Participation in construction and infrastructure projects that foster the Czech economy also opens pathways to residency.
Legal Requirements for Applicants
Regardless of the category, investors must meet several mandatory legal requirements to obtain residency in the Czech Republic.
Proof of Financial Stability
- Bank statement showing the amount of money one has.
- Income tax returns.
- Legal source of capital documents like agreements for sale of property, dividends, business income.
Criminal Record Certificate
Health Insurance
Application Process
The residency application through investment involves the following key stages of the process, successively:
- Document Preparation: The applicant should prepare a full set of documents, such as a passport, proof of investment, criminal record certificate, proof of financial stability, and health insurance.
- Business Registration or Confirmation of Investment: If the applicant is willing to start a business, then the company should be registered in the Czech Republic and the confirmations of creating at least one job or execution of an investment project are issued.
- Application Filing: Applications can be filed to the embassy/consulate of the Czech Republic in the country of origin or to the immigration authorities of the Czech Republic. Documents are required to be translated into the Czech language and to be attested by a public notary.
- Application Review: All the different documents will be reviewed by the Immigration Authorities of the Czech Republic for compliance with the program rules. The review process may take several months up to a year, depending on the case’s complexity and investment type.
- Temporary Residency Grant: Upon successful application review, temporary residency for two years shall be granted to the investor and his family, which is extendable.
Rights and Responsibilities of Residency Holders
From the moment of obtaining temporary residency, foreign investor status affords a number of rights with some responsibilities to be adhered to accordingly.
- Right of Reside: Residency is allowed in the Czech Republic.
- Freedom of movement within the Schengen Area: The residency holders may move freely in the Schengen countries up to 90 days within a period of 180 days.
- Right to do Business: The foreign investors can operate a company in the Czech Republic receive an income and obtain the benefits of doing business in the Czech Republic.
Duties:
- Maintain Business and Investment: Investors are expected to maintain their investment throughout the residency period. The firm should be operational and meeting economic obligations.
- Tax Obligations: Business owners are obliged to comply with the Czech legislation on taxes, report financials, and pay all their taxes in accordance with applicable laws effective from time to time.
In the Czech Republic, residency through investment could be an attractive opportunity that can be afforded by those foreign nationals who are willing to invest large sums into the economy of the country. Key applicant categories include: entrepreneurs, real estate investors, and participants in strategic projects. In order to accomplish successful residency, there is a myriad of legal requirements that need to be satisfied, including proof of income, legality of funds, adherence to business conditions, and provision of a criminal record certificate.
Czech Republic Golden Visa Changes 2024 – 2025
The Czech Republic offers a stable economic position, advantageous geographical location, and European Union membership, attracting foreign investors and entrepreneurs to the country. It does not provide any traditional “Golden Visa” program, as other EU countries have done, but the legislative changes in 2024-2025 include main mechanisms of obtaining residency through investment. Further, these changes try to improve the mechanism and strengthen controls over the sources of investment, which reflects general European trends in investment visas.
The article describes the main changes that will come into effect from 2024-2025, their legal consequences for foreign investors, and how all these innovations influence the residency application process in the Czech Republic through investments.
Section | Description |
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1. Increased Stringency in Terms of Minimum Investment | One of the most significant changes that will come into effect in 2024 is the increase in the minimum investment amount for residency. The Government of the Czech Republic decided to revise the existing threshold so that the quality of the investments would be improved and the probable abuses of the program averted.
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2. More Rigorous Source of Funds Checks | Starting from 2024, Czech immigration will introduce new mechanisms for wider checks on the sources of investors’ incomes. The decision is one step closer to vigilance with respect to money flows and aligns with the fight against money laundering and other financial crimes included in the positions of the European Union and the FATF. Source of funds verification is going to be required henceforth and with greater detail so that investors will have the ability to prove the legitimacy of the origin of investments. This could range from bank statements, tax returns, sale agreements of properties, among other documents evidencing legality in their capital.
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3. Changes to the Application Procedure | In 2024-2025, investment residency in the Czech Republic will be issued according to a different application procedure. Changes are targeted at making the process easier and more transparent and reducing the waiting time when the application is already in review.
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4. New Requirements for Investor Family Members | Changes within residency conditions of family members of a main investor will be made in 2024-2025. These will provide for easiness in the process for family members but with some new requirements as well.
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5. Transition to Long-Term Residence and Citizenship | The novelties of the program also refer to the routes of permanent residency and citizenship. Such changes enable foreign investors with more rights, provided certain duties are performed accordingly.
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Changes to be in force in 2024-2025 to the “Golden Visa” program in the Czech Republic will include the tightening of the requirements toward investors, more transparency, and simplification of the application process. These reforms make the process of acquiring residency more flexible for serious investors and strengthen control over financial flows and the origins of capital.
We encourage investors interested in capturing residency through investment in the Czech Republic to get acquainted with the new requirements and address qualified lawyers and immigration consultants who will help clients successfully pass all stages of the procedure.
Golden Visa of the Czech Republic for Indian Nationals
The “Golden Visa” in the Czech Republic brings residency into action via considerable investment in the economy of the country. Although there is no respective “Golden Visa” program in the Czech Republic, similarly to other countries of the European Union, it does open a lot of options for residency for foreign investors such as those from India. These options provide access to a stable economic environment in one of the most dynamic countries of the EU.
The following article will explain the legal aspects of the “Golden Visa” program for Indian citizens, such as investor requirements, the application process, and what legal possibilities residency in the Czech Republic may provide.
Who has Eligibility to the “Golden Visa” in the Czech Republic?
The “Golden Visa” program of the Czech Republic includes applicants from third countries that are not members of the European Union or the European Economic Area; under this category fall the citizens of India. Main categories of applicants who can apply for residency with an investment:
- Applicants who intend to make substantial investments in the economy through a business venture, real estate investment, or otherwise take part in economic activities.
- Family members of the primary applicant who will be relocating with them, including spouses, children who are minors, and also dependent adult children who have not exceeded the age of 25 years.
Key Legal Requirements for Investors
Indian citizens, as well as all other foreign investors, have to meet numerous stringent requirements to acquire residency in the Czech Republic through investment. These requirements relate not only to the amount and nature of the investment but also to the legal status of the applicant.
A. Business Investments
One of the common ways Indian citizens can obtain residency is by opening a company or investing in the Czech Republic. Major requirements to be met are as follows:
- Establishing a New Company: Foreign investors can set up a limited liability company-s.r.o.as the most frequent way of business establishment in the Czech Republic by foreign investors. The firm’s registered capital should be sufficient to test the financial viability, and it shall actually conduct business activities.
- Minimum Investment Amount: As of 2024-2025, the minimum threshold for business investments is €150,000, significantly increased from previous requirements. Investments must contribute to business development and job creation.
- Job Creation: The company must create jobs for Czech citizens or other EU nationals, demonstrating a positive impact on the country’s economy.
B. Real Estate Investments
While investment in the Czech Republic does not automatically offer residency, residency can be obtained by Indian residents through an investment in commercial real estate, if certain prerequisites are satisfied:
- Minimum Investment Amount: The minimum threshold of investment for residency through the purchase of commercial real estate has been fixed at €300,000. This should be utilized for business purposes or create income.
- Commercial Use of Property: Buying residential property does not qualify for residency unless it is put to commercial use.
C. Investments in Strategic Projects
The Czech Republic actively attracts foreign investment to the strategic sectors of the economy, such as high technology, infrastructure projects, and research and development. Residency can be granted to Indian citizens who express an intent for investment in such projects:
- Innovative and Technological Startups: Investors investing in high-tech companies or innovation projects may also seek residency through investment programs.
- Minimum Investment Amount: The minimum limit of investment for strategic projects is €200,000, which enables investors to participate in programs in more promising and innovative sectors.
D. Verification of Financial Stability, Income Source
Another thing applicants must show is that they have sufficient financial means to cover living expenses in the Czech Republic. Such funds also need to be legal and documented accordingly.
- Proof of Legitimacy of Funds: Applicants must provide documents proving the source of their funds, for example, tax return statements, bank statements, or even sale agreements for property.
- Minimum Income: Applicants must prove that they have permanent income from outside the Czech Republic adequate enough to secure living expenses for themselves and their families while residing in the country.
E. Certificate of Criminal Record
Applicants will be obliged to provide a criminal record certificate issued by Indian authorities and the authorities of those countries where the applicant has resided during the last five years. This document shall serve for proof of one’s non-existence of any criminal conviction and is required as one of the necessary requirements for one’s residency.
Foreigners applying for a residence in the Czech Republic are required to prove valid health insurance covering all expenditures on the public health care provided during the applicant’s stay in the country.
F. Application Process
The application process consists of the following steps:
- Preparation of Documents: The candidate should prepare a full package of documents, including a passport, police record certificate, investment, and financial stability documents, and health insurance.
- Company Registration or Investment Verification: In case the applicant intends to get residency through the opening of an enterprise, it needs to be registered in the Czech Republic. All investments should be documented by relevant papers.
- Filing of Application: This application is to be filed with the Consulate of the Czech Republic in India or directly to Immigration Authorities in the Czech Republic. All the documents are required to be translated into the Czech language and notarized.
- Application Analysis: Immigration authorities will then check the document for their compliance with program requirements. This might take anything from a few months to one year or so.
- Temporary Residency Issuance: Eventually, this will be the issuance of a temporary residency permit for two years, renewable, to the applicant and the family members.
Rights and Obligations of Investors
Once residency is granted in the Czech Republic, foreign investors and their families have a number of rights yet bear a few obligations simultaneously.
Rights:
- Residence Right: It gives a right to reside in the Czech Republic and use its social services.
- Freedom of Movement: The residency holder will have free movement to travel for a period of up to 90 days within any 180-day period throughout the Schengen Area.
- Right to Conduct Business: Investors have the right to conduct businesses in the Czech Republic, create income from their actions, and enjoy all the advantages provided by the Czech economic system.
Obligations:
- Maintaining Investments: Investors are obliged to maintain the investments for the residency period. The company should be operational and fulfill the requirements of economic activity.
- Compliance with Tax Regulations: Business owners must adhere to Czech tax legislation, file annual reports, and pay taxes as per applicable laws.
Pathway to Permanent Residency and Citizenship
After five years of residence in the Czech Republic on the basis of a temporary residence permit, investors will be able to apply for permanent residence status. That would be with more rights and a full ability to reside in the country without disturbance. Foreign investors could apply for Czech citizenship in ten years after their arrival to the country, provided all the conditions were met, including language proficiency in Czech and integration into society.
The Golden Visa allows Indian nationals to secure residency for investment in the economy of the Czech Republic. This includes, but is not limited to, minimum investment amounts, proof of financial stability, and adherence to all legal norms.
Golden Visa to Czech Republic for Pakistani Nationals
Czech Republic Golden Visa program is essentially a residency by investment mechanism that allows foreigners to obtain residency against investment in the economy of the country. It is an excellent opportunity for Pakistani businessmen or investors who would like to initiate a business or make real estate investments in the country lying in the heart of Europe. Being one of the most advanced countries within the European Union, the Czech Republic already attracts active citizens of third countries, including Pakistan, by offering a stable economy with legally protected investors. Further, this article will try to provide detailed insight into the legal aspects of obtaining a so-called “Golden Visa” for Pakistani citizens: key requirements for the investor, steps for application, and rights and benefits which are provided by residency in the Czech Republic.
Who is Eligible for Investment Residency?
The “Golden Visa” program targets those citizens of third countries, not EU or European Economic Area members – in other words, those of Pakistani nationality. It will make the following categories eligible:
- Individual investors interested in large-scale investments into the economy of the Czech Republic through business creation, real estate, or strategic projects.
- Family: The spouse, minor children, and dependent adult children under age 25 of the principal applicant
Principal Investor’s Requirements
The grant of residency to a Pakistani national through investment is subject to numerous legal requirements in the form of type and amount of investments as well as applicant’s legal standing.
Investment Type | Description |
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A. Business Investments | One of the most common ways of residency in the Czech Republic is by registering a new company or making an investment into an already existing one. This route is for applicants who intend to conduct active business activities in the Czech Republic. Among others, the requirements are as follows:
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B. Real Estate Investments | Whereas purchasing a residence does not, as such, confer residency, the purchase of commercial property may qualify, in certain circumstances. Some of the basic requirements for this include:
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C. Investments in Strategic Projects | Pakistani citizens may also be provided with residency through investment in strategic sectors of the Czech economy, including high technology, research, and infrastructure projects.
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Proof of the legality of an applicant’s income and sufficiency to cover their living within the borders of the Czech Republic should be provided. All applicants shall do this, and it shall include:
Obtaining Residency: The applicant has to provide a certificate of criminal record from Pakistan and any other country where the applicant has resided during the last five years. This document is required; it validates that the applicant does not have any criminal convictions, which are very important in the residency application process. | |
D. Health Insurance | Foreigners, investors, and their family members are obliged to have valid health insurance covering the medical expenses for the time of their stay in the Czech Republic. Their health insurance must be valid for at least the period of their intended stay in the country. |
Application Procedure
The application process in detail, through which a Pakistani citizen gets residency due to investment in the Czech Republic, involves the following:
- Preparation of Documents: The applicant needs to prepare a full package of documents, including a passport, certificate of criminal record, proof of investment, financial stability, and health insurance.
- Registration of a Company or Confirmation of an Investment: If the investor chooses the way of business creation, the registration in the Czech Republic is obligatory, as well as the documentation of the fact of investment.
- Application Submission: The application can be submitted to the Consulate of the Czech Republic in Pakistan, or directly to immigration authorities in the Czech Republic. All the documents are to be translated into the Czech language and attested.
- Application Review: The documents will be reviewed for their compliance with the program requirements by the immigration authorities of the Czech Republic. The time this review may take to be done is several months or as long as one year, based on the type of investment involved or the complexity of a particular case.
- Temporary Residency Issuance: Upon successful review of the application, the applicant and his family members will get a temporary residency permit valid for two years, renewable.
Rights and Obligations of Investors
Upon receiving residency in the Czech Republic, Pakistani citizens and their families gain a range of rights while also having certain obligations to fulfill.
Rights:
- Right to Domicile: The residency permit allows the holder to stay within the Czech Republic and utilize social and medical services.
- Freedom of Movement: Residency holders can travel freely in the Schengen Area for a period not exceeding 90 days in any 180-day period.
- Right to Undertake Business Activity: The right legally granted to the investor to conduct business in the Czech Republic, to earn a profit, and to use all the advantages offered by the Czech business environment.
- Compliance with Tax Regulations: Business owners must comply with the Czech tax legislation, filing annual reports and paying taxes on time according to local regulations.
Pathway to Permanent Residency and Citizenship
Permanent residence can be requested after five years of residence in the Czech Republic granted on the basis of a temporary residence permit. In permanent residence, the citizens have more rights compared to temporary residence and are not required to renew it. At the end of ten years’ residence in the Czech Republic, investors are allowed to apply for Czech citizenship provided they meet all the requirements regarding the application, language proficiency in the Czech language, and proper integration into society.
The “Golden Visa” program opens special opportunities for Pakistani citizens, showing various ways of getting residency in the Czech Republic by investments into business, real estate, and strategic projects. Major requirements include a considerable amount of investment, proof of the applicant’s financial stability, and compliance with the Czech legal standard.
Czech Republic Golden Visa for Nepali Citizens
The Czech Republic grants residency to foreign citizens who invest in the economy of this country. Nepali citizens willing to invest in the Czech Republic can apply for residency under this program, which opens up access to the European Union and its markets. Although the Czech Republic has not created, named, and provided a “Golden Visa” program yet, like some other European Union countries, it has different alternative routes to residency through investment into entrepreneurial activity or strategic projects. The paper discusses legal aspects of a residence program for the citizens of Nepal, the main requirements, the application process, and rights brought by residence in the Czech Republic.
Who can apply for a “Golden Visa” in the Czech Republic?
The Residency by Investment Programme is open to third-country nationals not being a member of either the EU or the EEA, of which Nepali citizens are a part. Among the main categories eligible under residency through investment come:
- Investors who wish to invest significantly in the economy of the Czech Republic by establishing a company, investing in strategic projects, or purchasing commercial real estate.
- Family members of the primary applicant: spouses and minor children, including adult dependent children under 25 years of age.
Main Legal Investor Requirements
The investment for residency in the Czech Republic is bound by certain legal criteria for Nepalese citizens. These include the volume and type of investment, proof of financial capability, and legal status of an applicant.
One of the most popular options for obtaining residency among the Nepali citizens in the Czech Republic involves setting up a new company or investing in an existing business in the country. The requirements include the following:
- Setting Up the Company: Investors can register a limited liability company (s.r.o.) that is considered to be the most frequent form of business organizations within the country of the Czech Republic. It must be registered with the country, as well as actively conduct business activities within the country.
- Minimum Investment Required: The minimum to be invested in establishing or participating in an enterprise shall be €150,000. Such investment must be used for developing the company, opening job positions, and for business project implementation purposes.
- Job Creation: The company founded by the foreign investor should provide jobs for the citizens of the Czech Republic or other EU members, which also denotes the contribution of the business towards the economy of the country.
B. Real Estate Investments
As far as buying residential property in the Czech Republic does not provide residency status by itself, commercial real estate can be an option to apply under the following conditions:
- The minimum investment amount, through commercial real estate for residency, is €300,000. This property should be used for commercial purposes or yield income.
- Commercial Use: The property needs to be used commercially – offices, retail outlets, and warehouses confirm this as well as adding value to the Czech economy.
The Czech Republic attracts investments into high-tech industries, research, and also into infrastructure projects. For this, Nepalese citizens may be granted residency status.
- Investment in Innovative Technologies: Investments in companies engaged in innovation and research are considered a residency-through-investment opportunity for foreign investors.
- Minimum investment amount: The minimum investment amount with the participation of strategic projects is €200,000, thus this option exists only for investors who support the creation of high-tech industries.
D. Proof of Financial Capability and Legality of Income
An applicant for residency must prove that his or her income is stable and that the sources of funds used to make the investment are legal.
- Also, the proof of a legal source of income is needed. There are supporting documents required, including bank statements showing the amount of money in the applicant’s account, tax declarations, and other financial documents.
- The applicant must have an income that is adequate enough to cover the living costs in the Czech Republic for him and/or his family.
Applicants must provide a certificate of criminal record from Nepal and other countries where they have stayed in the last five years. This no-objection certificate acts as proof that the applicant does not have any serious crimes that could become an obstacle to the granting of their residence application.
F. Health Insurance
Such foreigners applying for residence should have health insurance that is valid and covers all the medical expenses in the Czech Republic. The insurance must be valid for their whole period of stay within the country.
Application Procedure
The application process to obtain residency through investment for Nepali citizens follows certain key steps, which are as under:
- Documents Preparation: The candidate needs to prepare a full package of documents, including a passport, certificate of criminal record, proof of investment and financial ability, health insurance.
- Registration of the Company or Investment: In case of establishment of a company, the company needs to be registered in the Czech Republic. It is necessary to provide documents confirming that the investment corresponds to the program criteria.
- Application Filing: The application is filed with the Consulate of the Czech Republic in Nepal or the immigration authorities of the Czech Republic. Documents need to be translated into the Czech language and notarized.
- Application Verification: Immigration authorities of the Czech Republic verify the documents to check whether or not they meet all the formal requirements of this program. This can take several months up to one year depending on the complexity of the case.
- Temporary Residency Issuance: The applicant and his family are issued a temporary residency permit for two years, which is renewable upon successful application review.
Investors’ Rights and Responsibilities
On receipt of residency, Nepali nationals and their families enjoy several rights; however, this also entails certain responsibilities to be borne by them.
Rights:
- Residency Permit: Right of residence in the Czech Republic, plus the right to social and medical services.
- Freedom of Movement: Residency holders travel easily in the Schengen Area for 90 days in a period of 180 days.
- Right to Undertake Business Activity: The right to conduct business in the Czech Republic, in respect of receiving income for such activity and use of the Czech business environment.
Responsibilities:
- Undertaking Investment Maintenance: The investment has to be maintained throughout the residency permit period. The company needs to be active and also has to meet its economic commitments.
- Fulfilling Tax Obligations: Business owners must comply with the specific Czech tax legislation, file annual financial reports, and pay the taxes due in that country in a manner required by the local legislation.
Transition to Permanent Residency and Citizenship
After five years of residence on the basis of a temporary residency permit, the applicant, who shall be a Nepali citizen, may apply for permanent residency—a permit entailing more rights and one which does not need to be renewed. It also allows the investors to apply for Czech citizenship after a residence of ten continuous years in the country, provided all conditions are fulfilled, including the knowledge of the Czech language and integration into society.
The investment residency program in the Czech Republic has opened up unique opportunities for business, investment in real estate, or participation in strategic projects to Nepali citizens. The prime requirements for the said program include minimum investment amount, proof of the capacity to finance, and conformity with the Czech legal norms.
Czech Republic Golden Visa for Bangladeshi Citizens
In principle, the “Golden Visa” program of the Czech Republic allows foreign investors, Bangladeshi nationals included, to obtain residence permits in return for substantial investments into the economy of the country. Generally speaking, the Czech Republic offers diverse ways of obtaining residence through investment into business, real estate, or strategically important projects, although there is no officially introduced “Golden Visa” program within the framework of the national immigration policy of the Czech Republic, unlike most other European Union countries. This creates conditions for long-term residence, business operations, and even citizenship acquisition.
In this article, it will be elaborated on basic legal features of the residence program for citizens of Bangladesh – requirements for an investor, order of application proceedings, and rights, which come along with residence in the Czech Republic.
Who Can Apply for Residency Through Investment?
A residence permit through investment shall be granted to third-country nationals who are not citizens of either the EU or the EEA; Bangladeshi citizens are among them. The main categories of persons entitled to obtain residency by way of investment are:
Category | Description |
Individual Investors | Willing to invest substantially in the economy of the Czech Republic by means of establishing business companies, real estate investing, or taking part in strategic projects. |
Family Members | Family members of the main applicant – spouse, minor children, and dependent adult children up to 25 years old. |
Main Legal Conditions of Investor-Residency
Bangladeshi residents seeking to apply for residence on the basis of investment should meet several conditions in terms of laws and finances imposed by the legislation of the Czech Republic. These aim to ensure that the source of funds is transparent and a specific investment is economically relevant to the country.
A. Investments into a Business
The most common way of obtaining residence through investment is the establishment of a new company or investing in an already operating business in the Czech Republic. Key requirements for this are:
Requirement | Description |
Setting Up a Company | Foreign investors can establish a limited liability company, the most common form of business in the country. The company must be connected with real economic activity and be registered in the Czech Republic. |
Minimum Investment | The minimum amount one can invest in establishing or taking part in an undertaking until 2024 is €150,000. The money invested should contribute to the development of the company and create jobs. |
Employment Creation | An applicant has to prove that after making the investment, he/she will provide jobs to the citizens of the Czech Republic or members of the EU, ensuring the economic utility of the investment. |
While purchasing residential property does not provide residency, Bangladeshi residents may obtain residency by investing in commercial property subject to the following rules:
Rule | Description |
Minimum Investment | The minimum amount of investment in order to apply for residency through investment in commercial property is €300,000. The property shall be used commercially, whether for rental purposes, office purposes, or a storage/warehouse facility. |
Commercial Use of Property | The property must generate income and be utilized for business activities. Purchasing residential property does not provide automatic residency rights. |
C. Investment in Strategic Projects
The Czech Republic actively encourages investments in strategically important sectors such as high technology, innovation, and infrastructure projects. Bangladeshi citizens willing to invest in these sectors can obtain residency through such investments.
Requirement | Description |
Innovative Technologies | Residency rights can be granted to investors through investment in startups or companies involved in high-tech industries. |
Minimum Investment Amount | Minimum investment for participation in strategic projects: €200,000. Such investments should be made for the development of the priority sectors of the Czech economy. |
Third-country nationals have to document their ability, by virtue of their legal and stable sources of income, to support their living in the Czech Republic. A candidate shall provide proof of the legal source of his or her funds by providing supporting documents in the form of bank statements, tax declarations, and sale agreements related to property.
Requirement | Description |
Stable Income | Applicants must demonstrate that their income is sufficient to support themselves and their families in the Czech Republic without needing to work in the country. |
E. Criminal Record Certificate
All applicants will be required to submit a certificate of ‘No Criminal Record’ from the authorities in Bangladesh and from any country in which they have resided over the last five years. This is to satisfy the authority that the candidate has not been convicted of an offense against which his application for residency may be denied.
F. Health Insurance
Applicants and their families are required to have valid health insurance that covers them from medical expenses in the Czech Republic. This insurance shall be valid for the entire period of their stay in the country.
Application Procedure
The procedure for applying for residency through investment in the Czech Republic is summarized below in a few important steps:
Step | Description |
Preparation of Documents | The applicant needs to prepare one complete package of documents which includes a passport, criminal record certificate, proof of investment and financial capability, health insurance, etc. |
Company Registration or Investment | If done by the applicant, the firm must be registered in the Czech Republic. A document is required to prove the legality of an investment and its amount of money. |
Application Filing | Application filing to the Consulate of the Czech Republic in Bangladesh or an immigration authority in the Czech Republic. All documents are required to be translated into the Czech language and notarized as well. |
Temporary Residency Issuance | Following a successful review of the application, the applicant and their family shall be issued a two-year valid temporary residency permit, renewable upon reapplication, under the law. |
Rights and Responsibilities of Investors
Along with residency, several identified rights for Bangladeshi citizens and their families come with specific responsibilities as well.
Rights:
Right | Description |
Freedom of Residence | A residence permit allows legal residence within the Czech Republic and the use of public social and medical services. |
Freedom of Travel | Being in residency status means freedom to travel within the Schengen Area for up to 90 days in any 180-day period. |
Right to Do Business | It grants all investors the right to legally operate a business in the Czech Republic, gain profit, and leverage the opportunities enabled by the local business climate. |
Responsibilities:
Responsibility | Description |
Care for Investment | The investment must be maintained throughout the validity period of the residence permit. The company should continue to be active and fulfill its economic duties. |
Tax Compliance | Business owners are required to comply with the Income Tax Law of the Czech Republic and prepare annual financial reporting with the eventual payment of taxes in accordance with local tax laws. |
Permanent Residency Application Transition to Citizenship
After a five-year residence with a temporary residency permit, Bangladeshi citizens are entitled to apply for permanent residency, which extends all their rights and is not renewable. Finally, following ten years of residence in the Czech Republic, an investor can apply for Czech citizenship after fulfilling conditions such as adequate proficiency in the Czech language and successful integration into society, as stated in the law.
The investment residency program in the Czech Republic opens huge opportunities for Bangladeshi citizens in all respects—be it mere business involvement, the purchase of real estate, or participation in strategic projects. Minimum investment, proof of capability, and verification of the legal source of money—one of the basic requirements of this program.