Luxembourg has a super interesting golden visa scheme in Europe for high net worth investors to live, work and invest in. Luxembourg is a smallest sovereign state and richest countries in Europe. The country is also founding member of the European Union, OECD, United Nations, NATO, and Benelux.
Luxembourg opened golden visa scheme in March 2017 offering investors permit to foreigners against investment in business, management and bank deposit. After five years, investors can also apply for citizenship,
There have been six successful applicants approved by Luxembourg, according to a EU report in consultation with the Ministry of Foreign affairs. Five chinese and one Australian have received investors permit by opening a company and investing EUR 500,000, thus generating EUR 3 million for Luxembourg creating atleast 30 job positions.
Luxembourg Golden Visa
Luxembourg offers investors permits under these three options
1. Business
Investment of at least EUR 500,000 in a company and five work positions: The investment can be in an already existing company or a new company (still to be created). In both cases, the company must have its registered office in Luxembourg and carry out a commercial, artisanal or industrial activity. When the company is new, the five work positions must be created within three years of the incorporation of the business and the recruitment of the staff must be done in collaboration with the National Employment Agency. When the company already existed, at the time of making the investment, the foreign investor must also make a commitment to keep the investment and the work positions for at least 5 years (or)
2. Management and Investment:
Investment of at least EUR 3 million in a management and investment structure, either existing or still to be created, with its registered office in Luxembourg where it must have and maintain the necessary substance, also with a solid internal governance system (including adequate internal control mechanisms and appropriate accounting procedures) and at least two job positions; or
3. Bank Deposit
Deposit of funds with a financial institution of at least EUR 20 million the financial institution must be established in Luxembourg and the investor must make a commitment to keep the deposit for at least 5 years.
Citizenship
Foreign investors have to follow general naturalisation established in the Law of 8 March 2017 on Luxembourgish nationality. Under this Law, third-country nationals who wish to be eligible for Luxembourgish nationality must:
- Have a clean criminal record.
- Have resided in Luxembourg on the basis of a legal permit for at least five years and in the year preceding the application for citizenship must have resided in Luxembourg uninterruptedly;
- Attend the course “Living together in the Grand Duchy of Luxembourg”;
- Pass a language test at A2 level in oral expression and B1 in comprehension. German and French are official languages of Luxembourg
Passport
In 2019, Luxembourg had the 5th powerful passport in the world with visa free access to 186 countries in Henley rankings.
