The Expat Management Group (EMG) is pleased to announce that a residence permit has been issued for a wealthy foreign investor. Recently Mr. Dominique Coenen, Partner at EMG, successfully applied for a residence permit under this immigration category on behalf of one of our Firm’s highly valued private clients.
Under the Netherlands foreign investor’s immigration category, in the last 3 years around 11 applications have been been submitted in total whereby most applications have been rejected and only 2 applications (including the current case) have been approved. In the present case, EMG advised and assisted an Asian private investor who was willing to contribute a substantial amount to a Dutch participation fund as approved by the Dutch authorities.
The foreign investor category, which was introduced in October 2013, aims to attract foreign investors to bring substantial capital to the Netherlands to boost the Dutch economy. The main condition is an investment of at least € 1,250,000 of a non-fraudulent origin and providing a detailed investment plan showing the innovative character of the investment. Once approved, a residence permit for initially 1 year will be granted, which may subsequently be extended for a period of 5 years, provided that all criteria are still met.
As of July 2016 the conditions will become more lenient to attract more foreign capital and such types of investments by wealthy individuals. Under these facilitated rules such a residence permit will be issued for 3 years ensuring more legal certainty for the foreign investors’ residence status. In addition, no accountancy declaration will be required but the Dutch Immigration Authorities (IND) will continue to scrutinize the investment in cooperation with the Financial Intelligence Unit (FIU). Also more emphasis will be put on the essential contribution to the Dutch economy, which will be more important than the innovative character of the investment.
EMG will delighted to provide guidance and assistance for interested parties and in case further information is required, please contact Mr. Dominique Coenen at email@example.com or call our office +31 (0)207070551