The Czech Republic Golden Visa scheme was first launched in August 2017, offering long term residence permit for third country nationals making a Significant investment in the country under section 1 (a) and (b) of Government Regulation No 223/2017.
The Czech Government grants a long-term residence permit for the purpose of investment is intended for third country citizens who are entrepreneurs and want to reside in the Czech Republic to make a “significant investment”, or who are executives in business companies that have such investment plans.
Czech republic (also known as Czechia) is a EU member state since 1 May 2004 and also participates in the schengen area.
Why Czech Republic?
- Czechia attracts investors due to its high quality of life as well as strong economic growth prospects above Eurozone average.
- Strategic location in the heart of central europe with stable political and social system
- Brno, Ostrava and Pilsen attracts more foreign investment
- High yields from attractive real estate market with low investment risk.
- High quality of life with access to best health, education and infrastructure.
- Prague one of the most beautiful tourist capitals visited by over million tourists annually
- Business friendly country with access to huge EU market.
A long-term residence permit for the purpose of investment if you are an entrepreneur and a third-country citizen and, at the same time, you are going to make a “significant investment” in the Czech Republic or, if you are an executive in a business company that has such an investment plan. The invested funds must amount to at least 75 million CZK and, at the same time, it must create at least 20 new jobs for EU citizens or their family members for a minimum period of 2 years. Up to 60% of the aforementioned funds can be replaced with other tangible or intangible assets, including technologies and information know-how.
The conditions for significant investment conditions are
- EUR 3 million (CZK 75 million) and
- Create at least 20 jobs in the Czech Republic.
A solid business plan is also a very important criteria to receive residence permit and it should explain benefits of the investment for the Czech environment that influences the quality of life of the population.
How to Apply
Applications can be filed at Ministry of Interior in person or at Consulates abroad.
The validity of the long-term residence permit for the purpose of investment is up to two years, with unlimited extensions, including to all family members. No compulsory residence requirements. Investors and family members have automatic right to work, under the scheme. You can extend your long-term residence repeatedly, always with a maximum extension period of 2 years.
Authorities take a decision very fast on the investment applications usually in 30 days; 60 days in especially complicated cases.
Permanent settlement in Czech republic is possible after 5 years of uninterrupted living as investor.
it is possible to naturalize for Czech citizenship after about ten years of living. Other conditions include knowledge of czech language, no criminal record, integration to culture, history and traditions. Dual citizenship permitted in Czechia starting from 1 January 2014
The Czech passport is one of the top 10 best EU passport in the world with visa free access to 181 countries as of Aug 2019. These countries include United States, Canada, Australia (evisa or eTA)