Eternity Law International News Permanent resident card in Europe

Permanent resident card in Europe

Published:
August 10, 2020
Share it:

Permanent resident card in Europe is always a topical question. Each European state has its own characteristics: the economic situation, geographical location, attitude towards emigrants, and so on.

When choosing a country to apply for a permanent resident card, all these factors must be taken into account. What is also important to remember is that having such a status is not always possible to find a job officially.

Registration of a European permanent resident card

Before proceeding with naturalization in a particular European country, you must first obtain a visa. You can legally stay in the Schengen zone for no more than ninety days in one-half of the year.

However, living for a long period is already considered illegal.

If you want to move to one of the European countries, then you will need to obtain a visa and collect all the necessary paperwork for obtaining a residence permit (after the initial receipt, the document must be renewed on a regular basis).

After some time, you will be able to apply for permanent status, which, of course, is a stage on the path to acquiring citizenship.

The choice of the state must be approached very thoroughly. It is important to consider not only the climatic conditions, but also take into account the conditions for obtaining the rights to employment and residence within the European Union and abroad.

Each country has its own policy. For example, in countries such as Norway and Switzerland, the grounds for a residence permit must be very strong.

The investment method alone will not be enough. However, legalization can be given to persons who get married with a citizen of these states, relatives who have lost their family and want to unite with it and businesspersons who conclude agreements for a long time with various countries.

Germany, however, clearly prescribes an algorithm of actions for persons wishing to apply for a residence permit.

Each specific case is considered individually – the presence of business activity, relatives, etc. is checked, and even this does not guarantee you an affirmative decision.

In addition, now you can get a European residence permit through many financial programs.

For example, Slovenia and Estonia are countries where it is very profitable to open a business, since there are no requirements for capital turnover and company size there.

However, nuances are indispensable here – the organization must be active, bring in and have data on contracts in the public domain.

Emigration via the purchase or lease of real estate

Some countries have a policy that the homeowner can expect to receive a residence permit. Just a few years ago, the list of such states was much larger, but recently it has been reduced.

The Czech Republic and Croatia are no longer included in it, Latvia has set too high prices, but Portugal, on the contrary, has become more attractive in this regard.

You can get a residence permit by renting or buying real estate in the following countries:

  • For a residence permit, any real estate is required, the price of which is equal to or exceeds 250 thousand euros. Additionally, you will need to pay 5% to the state treasury.
  • This country establishes the mandatory availability of real estate worth 500 thousand euros. If the building was built about or more than thirty years ago, then the amount is reduced to 350 thousand euros.
  • Here the cost is set at 500 thousand euros. Apart from this, you can also invest in any assets. However, in Spain, a residence permit does not provide the right to work and start your own business.
  • Residence permit here can be obtained with real estate worth 300 thousand euros. The status is renewed every five years.
  • In this country, the purchase of real estate will require investing 250 thousand euros. Moreover, here the residence permit does not provide the right to employment.

These states include Cyprus and Malta, where there are similar conditions.

You can also get a residence permit by investing in the development of the economic sphere of the state. For such investors, the same Malta, Hungary and some others will become attractive countries. Each country sets its own amount of investment.

The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.

Table of contents

You could be interested

How to apply for an EMI license in the EU

E-money is a digital form of cash which within the European Union is deemed the value in currency, recorded and maintained on an e-medium. E-money is provided by an EMI upon receipt of funds from clients in the amount not less than the provided monetary value and is deemed as a form of payments by other...

Start a foreign company

Start a foreign company – the global crysis is the best time for that. 2019 was not the best year in terms of how many problems it brought. Nevertheless, the further, the more. 2020 has come, and the difficulties have only increased due to the pandemic. However, some experts in the field of economics argue...

How to Obtain EMI License in UAE

Positioned at the crossroads of the Middle East, the United Arab Emirates (UAE) has scored an unique identity as a global core for finance, trade, and innovation. Its attraction is underpinned by strategic positioning, world-class infrastructure, and a business-friendly environment that  attracts entrepreneurs and corporations from across the globe. At the heart of the UAE’s...

MSB License in the UK

Introduction  In the perpetually evolving realm of the United Kingdom’s financial milieu, the Money Service Business (MSB) sector assumes a paramount position, serving as a linchpin for the effortless transference of funds, be it within national borders or across international thresholds. These enterprises are instrumental purveyors of vital financial services, encompassing the facilitation of monetary...

Opening an account in Ukraine for non-resident companies

Opening an account for non-residents In accordance with order of National Bank, foreign companies have a possibility to open account in Ukrainian banks. Non-Ukrainian physical and legal representatives can now also use this service. This also includes foreign investment funds and firms that manage assets on behalf of these funds. As of 2019, the automatic...

Pros and cons of central bank digital currencies

CBDC is generally determined as a digital liability of monetary authorities that is broadly accessible to the general public. We have already figured out what is CBDC, which countries have CBDC and how they differ from cryptocurrency. To get greater clarity, it is reasonable to put CBDC in the context of other types of money...

Related posts

Obtaining gaming license in Nevis 2025

In the last 12 months, Nevis has emerged as a powerful draw in gambling. In the Caribbean, the island’s warm climate means that you can both work and live happily there, but from now on you’ll be rich. It features a series of uncorrupted juridical structures, easily-passed licensing channels, and an incredibly competitive tax backdrop....

Opening a business in Turkey

Turkey occupies a liminal position between Europe and Asia, making it a pivotal trade and investment crossroads. A dynamic economy and a huge local market draw entrepreneurs from around the world to the country. Understanding the local legal and financial landscape is the first step for those looking for opening a business in turkey. This...

GmbH vs UG: Credibility Premium vs Capital Efficiency for Early-Stage Teams

This is where the rubber meets the road for founders in Germany who are ready to incorporate their first company. They must choose between two very popular modes. GmbH or UG are both limited liability companies under German law that offer both forms of personal protection for shareholders and work within somewhat similar statutory frameworks....

Liquidation of companies in Cyprus

Key components in sustaining the attractiveness of the island in question as a nation for businesses include the tax system, EU membership, and corporate legislation. Termination is the last resort for a firm sometimes. It is crucial that in such a process, members of the board, investors, and advisers have exposure. The paper gives simple...

From Share Purchase Agreements to Smart Contracts: Redefining Legal Frameworks

The world of corporate deals has always had its drama. Negotiations, long documents, endless edits, lawyers from both sides who spend weeks agreeing on every comma in the Share Purchase Agreement. But imagine a completely different picture: instead of a ton of tribulations on the way to perfection, there are a few lines of code...

Argentina Corporate Tax Explained

To investors and entrepreneurs eyeing Argentina, navigating the country’s corporate taxation sphere isn’t just a bureaucratic hassle; it’s a key step to building a viable and compliant business there. The fiscal regulations are not perfectly committed, but this region is rich in detailed tax laws that are quite well crafted towards control and digital verification....

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Fill the blank: