As of July 1, 2016 the policies for the foreign investors visa will be relaxed somewhat.
The reason for the announced change in policy is that the Secretary of State noticed that there was very little interest for this residence permit since the introduction on October 1, 2013 for this new residence option. Therefore, in a letter dated January 8, 2016 the Secretary of State announced to loosen up the rules for foreign investors on two accounts.
The first amendment concerns the duration of the issued residence permit. Initially, the residence permit was issued for one year after a positive decision of granted This will be incremented to 3 years as of July 1st 2016. So when granting the application, the foreign investor will receive a residence permit for the duration of 3 years instead of 1 year. This is partly chosen because in other EU countries with similar schemes this is already very common.
The second change concerns the requirement of an accountant’s statement. This requirement will be abolished. The State Secretary noticed an accountant’s provides a high degree of (false) security about the origin of the capital, while it hopes to create for both the government and the company high degree of certainty. The auditor sector has also indicated that it cannot properly investigate the origin of the money. Nevertheless the IND will have the origin of the capital verified by the Financial Intelligence Unit (FIU).
For questions about the possibilities for applying for a residence permit as a foreign investor please feel free to contact one of our attorneys, phone 003120 616 14 87, or email email@example.com. We are happy to help!