We asked for the cheapest family passport, they went as far as providing us a discount” – Muhamed,  UAE. Spain — The country has a similar programme to Portugal, and a resident permit can be obtained by buying a €500,000 house or investing €2 million in Spanish government debt. The permit can be changed to permanent residency permit after the five-year period of residence. : The Romanian passport is 18th powerful EU passport in the world. AVA Georgia, legally provides diverse services in the field of real estate, investment, and residence in Georgia. Investment for Residency and Citizenship. To apply for a short-term residence permit, foreigners who own real estate in Turkey or intend to establish a business or business connections in Turkey must submit the following documents to the relevant Provincial Directorate of Immigration Administration (Göç İdaresi) once an application is submitted through the e-residence system. Minimum investment. Residence permit for entrepreneurs in order to practice a self-employed. Romania Residency by Investment Solution. The Malaysia My Second Home Program, started in 2002, allows foreign nationals who fulfill certain criteria to stay in Malaysia on a multiple-entry social visit pass. Persons of independent means aspiring to obtain residence permits in Austria are subject to the annual quota. Romania has committed the euro once it fulfils the necessary conditions. The minors whose parents hold a long term residence may receive the same statute, without fulfilling the condition regarding the continuous residence in Romania in the last 5 years preceding the application; in case only one of the parents holds a long term residence, the consent of the other parent is needed in authentic form. The implementation of direct investments for the purpose of obtaining a passport goes through a specialized company approved by the Government of Romania. 208, District 3, 030828, Bucharest. Highly recommended people”. What makes CBI online platforms so popular? You can do this through an initiative called residency-by-investment, also popularly referred to as the Golden Visa Program. EUR 100,000 and creation of at least 10 new jobs in the case of a limited liability company; EUR 150,000 and at least 15 new jobs in the case of a joint-stock company. In order to apply for a long term residence permit, you must present a standard application accompanied by the following documents: Yes, there is the possibility of your application being denied. Proof of investment can be made with certificates issued by the Trade Registry, certificates from the tax authorities and financial evaluation reports prepared by certified accountants. Business visa / long term residence permit. In addition they must meet the following. 6. Temporary Residence Permit. Investment. While residence and citizenship by investment (CBI/RBI) schemes allow individuals to obtain citizenship or residence rights through local investments or against a flat fee for perfectly legitimate reasons, they can also be potentially misused to hide their assets offshore by escaping reporting under the OECD/G20 Common Reporting Standard (CRS). There are several residency by investment programmes in Europe that grant residency, often through real estate investment but without the requirement to reside. The refusal to grant long term residence rights does not have any legal effect on the right of residence of the applicant. F3, Entrance 4, 2nd floor, Apt. Residence permit programs … Investment name. These programmes are especially popular with investors not wishing to emigrate and move their family but require flexibility should the need ever reside. Please reach out for information on how to open a company in Romania. Our team of Romanian lawyers can provide more details about these conditions. We initially struggled arranging documents and paperwork, but the company was assisting us in every step. Romania offers citizenship and residency to foreign investors who commit to invest in Romanian businesses and job creation. The foreigners of Romanian origin or born in Romania, as well as those whose stay is in the interest of the Romanian state, may receive long term residence right solely by fulfilling the condition of not representing a threat for the public order or the national security. They are privileged programs designed for high net worth individuals who want to live and work in another country. The long-term residence permit is granted for a period of 10 years in case you are a family member of a Romanian citizen or a period of 5 years if the purpose of your stay falls under those provided by law. Our business model of online platform makes it cheaper and faster for clients as we directly with authorized agents, law firms and property developers approved by Governments without any intermediaries. Swedish Citizenship. 5. ▪ in the said period they were not absent from the Member States of the European Union, the European Economic Area or of the Swiss Confederation for a period exceeding 12 consecutive months and the period of absence does not exceed 18 months in total; ▪ during this period of time, no measure of removal from Member States of the European Union, the European Economic Area or of the Swiss Confederation was disposed against the foreigner in question; ▪ they present proof of disposing of the necessary means of support to the minimum gross salary guaranteed in payment, except for foreigners who are members of Romanian citizens; ▪ they prove to have a social health insurance; ▪ they prove to legally hold a housing space. The Bulgarian citizenship by investment program is a two-stage procedure: The first stage is a permanent residency card application, subject to an investment of minimum 512,000 euros. 50% additional corporate tax deduction for eligible expenditure related to R&D activities; Corporate tax exemption for the first 10 years of activity for taxpayers carrying out exclusively innovation, research and development activitypix. According to Romania Law Blog, third country nationals (TCNs, non-EU citizens) can obtain the Romanian Residence permit if they form a company with a minimum of EUR 100,000 capital and they also must create at least ten new jobs. Why is the Notice necessary before litigation? Puerto Rico. “Thank you for your excellent service. To receive temporary residency in Romania, foreigners must invest, Foreign nationals who invested an investment of EUR 1,000,000 EUR or 100 new jobs, the conditions of continuous residence of five years and personal financial means equal to the minimum wage are waived. Romania Residence and Citizenship by Investment November 25, 2019 Romania offers citizenship and residency to foreign investors who commit to invest in Romanian businesses and job creation. 5. Residence for financially independent person governed by provision of Article 44 of the aforementioned law. Romanian Residence Program . Serving HNW clients since 2011. Visa type. 5. Residency in Romania is approved by the head of the Office for Immigration. In exchange for a property investment of $595,000 (£448k), non-EU citizens are offered a residency permit and the opportunity to live and work in the EU. After 5 years of uninterrupted living. Today we received our passports, a happy day. Things are a bit more complicated if you are a non-EU citizen who wants to stay in Romania for more than 90 days. The second stage is the citizenship application. If the request is approved, within 30 days from receiving the notification you must submit the following documents attached to the application for issuing the long-term residence permit: • documents regarding the border crossing; • justifying documents regarding the housing space; •  access on the labor market, without work permit, based on an individual labor contract approved by the Labour Inspectorate; •  access to all forms and levels of education and professional training including to granting of scholarships, validation of studies and recognition of diplomas , certificates, competence attestations and professional qualifications; •  social security, social assistance and protection; •  tax deductions on global income and tax exemptions; •  access to public goods and services including obtaining of dwellings; •  freedom to enter into associations, for affiliation and belonging to an union or professional organization. The main thing that makes getting a residency permit more difficult for an US, Canadian or any other non-EU citizen is the fact that self-sufficiency is not acceptable. As of 2019, Romanian citizens had visa-free or visa on arrival access to 169 countries and territories including Canada, United Kingdom but visa required to visit US. The long-stay residence permit in Romania, Our Law Firm offers juridical representation and consulting regarding, Lawyers: Driving under influence in Romania (DUI), How to obtain a construction permit in Romania, Registration in Intra-Community Operators Register, Differences between Branches and Subsidiaries in Romania, Open a non-banking financial institution Romania, Non-governmental organizations in Romania. Foreigners may establish their residence in Romania … We are happy to hear you want to permanently move to our country. Austrian Residence-by-Investment. 61 Unirii Boulevard, Bl. • documents regarding the crossing of the state’s frontier; • justifying documents regarding the legal holding of a housing space; • justifying documents regarding the means of subsistence; • proof regarding the social health insurance; • the criminal record issued by the Romanian authorities; • civil status documents, if it’s the case; The applications for long-term residence rights are solved in 6 months, with the possibility of extending that period for up to 3 months. There is a reduced minimum investment of €350,000 for those who … An investment of €500,000 will get you a residence permit in this country. The Golden Visa gives you the option to obtain a higher-ranking second passport, but usually at a bigger cost. ▪ they do not represent a threat for the public order or national security. Call the experts at our law firm in Romania for a free consultation. 48%. A citizen of any country can become a participant in the governmental program and obtain Romanian citizenship by investments. This means that every year the Austrian Government announces a ‘quota’, a limited number of such residence permits to be issued. The residence permit of Romania is a document that allows it holder to legally reside in Romania. entrepreneurship--48%. Permanent. The foreigners who prove to have made investments of minimum EUR 1.000.000 or have created over 100 full time places of work, may receive the long term residence permit if they fulfill the last 4 conditions mentioned above. Latvia — To obtain a Latvian temporary residence permit, one has to buy real estate worth €250,000 and pay a 5% government fee. A residence permit in Romania is possible to acquire in several ways. You can also get residency by investing a similar amount in a Latvian business or a local bank. Application for the granting or renewal of a residence permit for family members of citizens of non EU / EEA will be settled within 30 days from the date of its submission. Our platform is free to use and we do not charge any fee to clients. 31/1990 regarding the, Protecting children from the perspective of human rights, cr, Minimum fees recommended for lawyers 2021, The U.S. Embassy Bucharest Attorney List. Investors who wish to become Romanian citizens have to go through the general naturalisation process. No special rules pertaining to the granting of citizenship on the basis of a residence permit obtained by an investor. Temporary residency. What do you do when your PFA exceeds the VAT cap? Tax credit of up to 80% of the corporate tax due, for up to 10 years, for investments exceeding approx. Residence-by-Investment Overview. ▪ you can prove that you dispose of the necessary means of subsistence reaching the level of the national minimum net salary, except for the foreigners who are family members of Romanian citizens; ▪ you prove to have a social health insurance; ▪ you prove to legally hold a housing space. This right can be claimed both as a family member of a Romanian citizen, and for another purpose of your stay in Romania, such as family reunification, commercial activities etc. Permanent residency. If the applicant spends more than six months in a year abroad, that entire year is disregarded for the purposes of the citizenship application. 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