The Netherlands offers residency to foreigners for 1.25 million Euro
The Netherlands plans to offer foreigners Dutch residency permits if they invest at least € 1.25 million in the Netherlands.
This reports the Dutch Ministry of Security and Justice. State Secretary Fred Teeven thinks it can give a boost to the Dutch economy.
The measure is designed to boost foreign investment, targeting Chinese and Russians who are looking for a better quality of life. Many foreigners are also looking for a good education for their only child. Dutch universities have been offering 1500 courses in English.
The package will award Dutch resident status to foreigners who invest at least € 1.25 million in the Netherlands, beginning October 1st.
The scheme would also allow foreign investors to move around the 25-nation Schengen zone freely, as the agreement allows holders of a residency permit of one country in the area to travel to any other.
The Dutch residence permit will be issued for one year, so that when the request for extension can be tested whether he still meets the requirements.
Applicants must meet certain requirements for the scheme, for example, the investment must have an ‘added value’, create jobs and must be ‘sustainable’. There are hundreds of wealthy foreigners who want to make use of the scheme according Teeven.
It is the first scheme for the Netherlands targeting “richer foreigners,” said a spokeswoman for the Ministry of Security and Justice.
The U.S., Canada, Spain, Australia, Britain, Portugal, France and Ireland already have economic incentives to attract foreign-millionaires. A foreigner who invests at least $500,000 in a qualified U.S. business is entitled to a green card—provided the investment puts at least 10 Americans to work.
Portugal offers residency permits for housing purchases of at least €500,000. In April, Ireland started two programs that included offers of residency to foreign investors with access to as little as €75,000 in startup capital.
More at The Dutch Daily News