For Sale: 3-Bedroom, Comes With EU Residency Permit
In October, the Netherlands became the latest EU country to follow the trend when “rich foreigners are to be offered temporary residency permits if they agree to invest at least €1.25 million in Dutch companies,” according to Dutch News.
Such incentives to attract foreign investment are not new. The United States, Canada, Australia, Britain, France and Ireland, among others, operate similar schemes to speed up residency permits for individuals investing in businesses or buying property worth more than one million (dollars, pounds or euros).
What is new, however, is the growing popularity of the visa-for-investment exchange around the EU as the permits become accessible to a far larger number of less wealthy foreign investors, who could buy a second home abroad.
The deals are offered mainly by countries more affected by the economic crisis and the competition among them is increasing as well as they bid to outdo each other with affiliated perks. Conditions can vary from country to country and some require less investment than others.