Wealthy foreign nationals
- november 3, 2017
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As of 1 October 2013 wealthy foreign nationals can more easily obtain a residence permit in the Netherlands. For a regular residence permit of 1 year they need to have a capital of at least EUR 1,250,000 and they need to invest this amount in Dutch economy. Please do note that the residence permit can be extended to a permanent residence permit, provided that all requirements are still met.
This and more has been proposed by the State Secretary of Security and Justice which aims to stimulate Dutch economic growth.
Admiddetly, the above mentioned amount can be a bit overwhelming whereas individuals are concerned. Therefore an altrenative can be sought in investing a lower amount in the Dutch economy whilst one can still enlist a residence permit. Lots of possibilities are thinkable. One of those is buying real estate. On the basis of which the residence seeker implies that he or she wont be a (future) burden for the Dutch economy, as the former also implies that the residence seeker is somehow wealthy enough to be able to financially support itself. But the question remains; how can ownership of real estate in the Netherlands evenetually lead to the acquisition of a resindce permit? Accordingly, after investing an amount in the Dutch economy, the residence permit procedure can be started, meanwhile the residence seeker can already enjoy residence within the Netherlands. For a better understanding of the procedure, it is first of all necessary to decompose some certain terms, such as real etstate. According to article 3:3 Dutch Civil Law, real estate is; the ground, the not- yet extracted minerals, the- with the ground united plantings and the buildings and works that are permanently united with the ground.
Hence, what does this all mean in the context of investing? In first instance it certainly means that buying real estate isn’t only about buying a peace of ground and buildings. Therefore one can say that the term real estate is one of a broad spectrum and can be coloured diffrently. This way the residence seeker has various possibillities in the choice of investing his or her capital.
Residence permit- procedure
Blog by Dashne Faraj