The President of Czech Republic has signed a new amendment to the Czech Immigration law in 2017 , which came into effect after 15 days, substantially changes the current legislation and the new legislation introduces the possibility to obtain a long-term residence permit for investors (hereinafter the “Investment visa”); whereby the term investor (the “Investor”).
The investment visa scheme in Czech republic is now officially running and the scheme listed in website of Ministry of Interior.
The residence of foreigners in the Czech Republic is governed by Act No. 326/1999 Coll., on Residence of Foreign Nationals in the Czech Republic and on the Amendment of Certain Acts, as amended (hereinafter referred to as the “Foreign Nationals Act”).
Czech republic is a EU member state since 1 May 2004 and also a signatory of schengen agreement. Investors who receive czech visas and residence permits may freely travel in schengen territory.
Czech republic issues long term visas for the purpose of investment activity. Long-term residence for investment purposes is intended for entrepreneurs who intend to stay in the Czech Republic for longer than 90 days and plan to make a “significant investment” in the Czech Republic and also for foreign nationals in the management of commercial corporations with a similar plan. Application for long-term residence for investment purposes with the appropriate consulate or in Czech republic, you may lodge your application direct with an Ministry of Interior CR office.
Investment conditions
- The Investor has to create at least 20 full-time jobs (for EU-citizens) and keep them operating at least for the duration of the Investment visa;
- The Investor has to make an investment in the amount of at least CZK 75,000,000 (approximately EUR 2.850.000 or USD 3.250.000), whereby the whole amount does not have to be invested in cash, up to 60 % of this amount can be provided through assets (tangible or intangible)– e.g. machinery, real property, know-how etc.
- The Investor has to propose a business plan regarding the investment.
The business plan must clearly specify reasons for investment in Czech republic, how many jobs will be created and how it will benefit the social and economy of the country.
Family and children also qualify for long term residence permit in Czech republic.
Citizenship and settlement
Permanent settlement in Czech republic is possible after 5 years of uninterrupted living and it is possible to naturalize for Czech citizenship after about ten years of living.
