EU countries are not completely united on the issue of golden visas. In response to the Russian-instigated war in Ukraine, many have stopped issuing golden visas to citizens of Russia and Belarus. However, not all of them are like that.
Foto: Vladimirkarp/SHUTTERSTOCK
Imants Frederiks Ozols, “Latvijas Avīze”, JSC “Latvijas Mediji”
–
of Russia the aim of the war is to weaken Ukraine’s industrial economy so that it resembles one of the Baltic countries more
–
“For them false attack! It is only in our interest to speak in this information room as well,” Staķis about the hype after visiting “TV Rain”
–
Today A heat wave is starting in Latvia. Predict how many days it will last
While the prime ministers of Estonia and Finland are calling on the European Union to stop issuing tourist visas to Russian citizens, even the issue of the so-called golden passports is still not fully resolved, so the European Commission is moving closer to the infringement procedure against Cyprus and Malta. On the other hand, the so-called golden visas for long-term living and work in the European Union may be issued in the future.
True, since the beginning of the war, most EU countries no longer issue them to citizens of Russia or Belarus.
“Visiting Europe is a privilege, not a human right. It’s time to stop tourism from Russia,” Estonian Prime Minister Kaja Kallas announced on her Twitter account.
Both Tallinn and Helsinki expressed this position in solidarity. Already at the end of last week, Riga also announced that the acceptance of visa applications from Russian citizens will be stopped indefinitely (except for certain cases, for example, funerals of relatives living in Latvia).
For the sake of truth, it should be added that the statement of our northern neighbors does not mean stopping the issuing of any visas, but only those that were previously issued in large numbers to the many travelers from Russia, which is a border country of both Estonia and Finland.
Moreover, even if the invitation of Tallinn and Helsinki were accepted across the EU, it would not stop all travel options for, for example, Russian citizens with dual citizenship.
Also, the suspension of air traffic does not mean that only the land border with Finland, Estonia, Latvia, Lithuania or Poland (in the case of Kaliningrad) can be used for entry.
You can arrive by plane from third countries such as Turkey, and you can enter with a visa issued by any other Schengen country.
In general, it should be recognized that even in the matter of citizenship (golden passports) and long-term residence permits (golden visas), the countries of the European Union are not completely united.
True, in response to the war in Ukraine caused by Russia, many EU countries, either by themselves or following the call of the European Commission, stopped offering investment schemes to citizens of Russia and Belarus already in the early spring.
However, at the same time, there are two countries – Cyprus and Malta – that have not even completely abandoned the issuance of so-called golden passports, although neither of them have issued them to Russian citizens.
Last October, the initiation of an infringement procedure convinced Cyprus to stop issuing new passports in exchange for certain investments. However, the EU has come to the conclusion that the state is still continuing the examination of previously received applications. The European Commission is therefore taking further steps in the infringement procedure by sending the official Nicosia a so-called reasoned report. The official Valletta has also received a new letter, expanding the concerns already expressed earlier.
In the near future, the additional two-month deadline for responding and eliminating non-conformities will expire. Thus, the trade of European Union citizenship in exchange for investments would be completely stopped, which, as evidenced by the research experiment conducted by the TV channel “Al-Jazeera”, opened the possibility for the legalization of dubious persons and their money in the European Union.
However, the victory in the field of golden passports will only promote the demand for golden visas, which in the longer term can also be the basis for applying for EU citizenship, albeit in a controlled and orderly way, using the time of the golden visa to get to know the applicant for EU citizenship more thoroughly and to assess potential security and money laundering risks.
19 EU countries that issue golden visas
State Conditions
Czech Republic
at least 3 million EUR investments and 20 jobs created.
Germany
at least 250 thousand EUR investments and five jobs created.
Estonia
in general, at least 65 thousand EUR investments in company capital (min. 16 thousand EUR for individual companies); for large investors min. 1 million EUR in the form of direct investment.
Greece
250 thousand Purchase or rent of real estate worth EUR for at least 10 years.
Spain
investments, depending on the type, 1–2 million in the amount of EUR or real estate at least 500 thousand. EUR worth.
In France
investments in France or its overseas territories 300 thousand. in the amount of EUR and creation or preservation of jobs; so-called “talent passport” residence permits are also issued. Various additional conditions.
Croatia
investments in companies, depending on the type of investor, in the amount of ~13,500–27,000 EUR.
Hungary
purchase of government bonds with a maturity of at least five years for a total nominal value of at least 300 thousand. EUR.
Ireland
various types of investments in securities, companies or real estate worth at least EUR 1-2 million; 500 thousand EUR, if it is a donation in the arts, sports, health, culture or education.
Italy
at least 2 million EUR in government bonds with min. maturity 2 years; or at least 1 million EUR investments in company capital or 500 thousand. EUR, in the case of an innovation start-up registered in a special register of start-ups (in addition to proving that there are funds in the amount of at least EUR 1 million); or 1 million in the philanthropic donation of euros for culture, education, science, etc. etc. areas.
Lithuania
investments do not guarantee residence permits. However, a temporary permit can be requested if at least 14 thousand EUR investment in small or 260 thousand. EUR – in a medium-sized company; there are additional requirements for hiring employees.
Luxembourg
at least 500 thousand EUR investment in the company’s capital and the creation of five jobs at the same time. Investments and jobs must be preserved for at least five years. Other types of investments 3-20 million in the amount of EUR (depending on the type; maintaining the created jobs or investment for at least five years).
Latvia
real estate at least 250 thousand in the value of EUR +5% of the property value in the state budget; or investment min. 280 thousand in the amount of EUR in a credit institution registered in Latvia with a term of at least five years + 25 thousand. EUR in the state budget; or 250 thousand EUR in government bonds +38 thousand. EUR in the state budget; investments can be reduced to 90 thousand. EUR when it comes to innovations.
The Netherlands
an investment of at least EUR 1,250,000 in the capital of an innovation company registered in the Netherlands, a joint venture or a private deposit fund. In addition, the Netherlands requires that the investor also physically resides in the Netherlands for 4 months out of 12.
Poland
the minimum investment amount is not determined, but the applicant must be able to prove his intention to start a business, generate an income that is at least 12 times higher than the average salary in the specified administrative territory, employ at least two employees on a permanent contract basis, and also have health insurance and a permanent and regular income source. There are other additional conditions.
Portugal
investments of at least 1 million in the amount of EUR; or at least 10 newly created jobs; real estate at least 500 thousand in the amount of EUR; or min. 350 thousand EUR in the field of science and research; or min. 250 thousand EUR in arts or reconstruction and restoration of national heritage. The initially granted temporary residence permit is valid for one year; it is extended if conditions are met. There are other options and conditions.
Romania
at least 100 thousand EUR and creation of 10 jobs in limited liability companies; or at least 150 thousand EUR investment and creation of at least 15 jobs in joint stock companies. Initially, a 90-day visa is granted, then a one-year temporary residence permit; an extension is considered if the necessary minimum criteria are met.
Slovenia
there is no minimum investment requirement for a temporary residence permit, but you must have health insurance for at least 30 thousand. EUR; if a person does not physically stay in Slovenia, this may be grounds for revoking the residence permit; does not give automatic access to the labor market. Other additional conditions.
Slovakia
there is no minimum investment amount for a temporary residence permit (up to two years), but the foreigner must conduct business in Slovakia; permanent residence permit as qualified investors: capital investment of at least EUR 100 million; investment creates at least 300 new jobs; investments are in the public interest (government decision).
Themes
–
