The Czech Republic is a crucial component of the EU Schengen area and is located in central Europe. More travelers visit Prague than any other city in Europe. Investors are drawn to Czech real estate because of the country’s present cheap real estate prices and relatively low cost of living compared to other European countries.
Visa for Czech investors
The country provides a business immigration scheme to foreigners and non-EU citizens. The guidelines for foreigners’ residence in the Czech Republic are outlined in Act No. 326/1999. The nation offers long-term “significant investor” visas for business-related activities. Entrepreneurs who plan to stay in the country for longer than 90 days and make a “significant investment” there are eligible for long-term residence for investment purposes. The same eligibility applies to foreign nationals in charge of commercial corporations with a similar plan.
Minimum investment
The investor must create and retain at least 20 full-time jobs for EU citizens, and ideally more, for the duration of the Investment Visa’s validity. A minimum investment of CZK 75,000,000, or around EUR 2,850,000 or USD 3,250,000, is also required from the Investor. Assets (physical or intangible), such as machinery, real land, know-how, etc., may supply up to 60% of this sum. The investor is required to provide a business strategy in relation to the investment. How much employment will be created and why the investment is being made in Czechia must all be addressed in great detail in the business plan. The business plan should also describe the company’s plans for helping the nation’s social and economic development. Also included in the country’s long-term residency permit are the investor’s family members and minor children.
Citizenship
You might apply for “Permanent Residence” and in the long run Czech citizenship following five years of keeping a lawful occupant status in the country. After achieving legitimate permanent residence in the country, you have five years to apply for Czech citizenship. The Czech Republic doesn’t recognize double citizenship; thus, to become a citizen of the nation, you should repudiate your earlier citizenship. Dependents, such as partners and small kids, may also go with the applicant provided they can show extra proof of their financial capacity to pay for their expenditures. There are no restrictions on age or language competency for the Czech resident program.
Step-by-step procedure of business immigration to Czechia
The process of immigrating to Czechia via the business route entails:
Requesting a business visa
To visit the Czech Republic, you should initially apply for a business visa with a six-month legitimacy term. To demand a business visa at your nation of origin’s embassy, you are expected to:
- Create a Czech Limited Liability Company (SRO firm).
- Make lodging arrangements there, and pay a security deposit.
- Give proof that you can pay for your living expenses and those of any dependents.
- Give proof of health insurance in Czechia.
Register your location in Czechia
Within three days after your appearance in the Czech Republic, your location should be enlisted with the nearby police.
Submit a request for long-term residence
90 days before the lapse of your business visa, you might apply for a long-term residence permit in the nation. You may frequently decide to expand this for an extra year.
Requirements for a business visa in Czechia
Obtaining a business visa for the nation involves meeting several key requirements. Right off the bat, you should give proof of the presence of your enrolled Czech Republic firm. Before presenting your visa application, you are expected to get accommodation and make payment for two months’ rent. Moreover, you should exhibit a stable financial situation. This can be either through compensation from your Czech business or by showing adequate assets in your financial balance to cover everyday costs for you and any wards. In conclusion, you want to have at least €60,000 in health care coverage inclusion as a component of the visa necessities.
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