Business immigration – what it is?
Business immigration may be understood as legalization of stay on the basis of business activity conducted within the territory of EU. Typically it requires investor to:
Incorporate a business entity
To start the whole process you will need to incorporate a New business entity or you can purchase an existing company as well. You will need to have an office (although it may be a virtual one), proper accounting and business idea on how to make money. We can help you plan your actions but you have to play an active role.
Invest certain amount of money to operate a business
Long term business immigration requires certain investments – both corporate and private. Apart from costs of procedure you will have to cover business running costs (accounting expenses) and living costs (apartment, health and social insurance). By law – you need to prove to the government that your activity is beneficial to the national economy. And these are not empty words – fortunately, during first year you just need to have good business plan and sound idea how you will run your business so that you will meet the above criteria in future. How much money do you need? As per your business – at least 10,000 EUR of initial investment is recommended. You will spend it on the monthly running costs, office, contracts, employees. You can also transfer these funds on monthly basis, once your company bank account is active (approx. 1,000 EUR/month). Privately, depends on how much you spend as it is possible to make a living for 500 EUR per month, however to maintain a decent standard of living – at least 1,000 EUR is required. Do not worry – we will assist you with everything. Please note that the Personal Cost is just to inform you about the cost of living. It is not mandatory to show statement or transfer it.
Relocate to the Schengen state
Do you need to relocate to the Schengen state to get your TRP(temporary residency permit) card? Rule is that you have to. During the verification procedure it will be checked whether you reside in the EU. As soon as the TRP card is issued you are allowed to travel to and out of EU zone. If you have Schengen visa, you are allowed to leave before the procedure is finished. For your first visit to form a company you will have to travel on business national visa which is granted for 6 months to two years or you can travel on business Schengen visa for 90 days.
Your procedure has just started and you will be evaluated by the authorities. Now you need to work on:
Now you are EU resident having a temporary business residency for up to 3 years. Our job is done. After staying in the EU for 5 years we can apply for your PR on basis of the business. You will have to stay in the Schengen state for 10 years to get your Citizenship. Normally it takes 6 – 7 months for your TRP card to be issued.
Please note that for TRP and PR there is no language test required.
Do I need to know anything else?
You may ask what about your family. Our policy is to apply for residence cards for each of your dependents who you wish to relocate with you. There is a separate procedure for that in EU law please be patient as your dependents’ application will require more time than yours. However they can apply for at the same time for a tourist or a Schengen visa if they wish to travel with you and can stay with you as a tourist until the process is completed for TRP.
Checklist of Documents
During this whole process the following list of Documents will be required from the Client:
Get in touch with us and let us assist you with a smooth and hassle free process.