Buy & # 187; The residence permit of Luxembourg.
Popular in many countries, the hardest hit by the crisis, the program & laquo; purchases & raquo; The residence permit in exchange for a serious investment in the economy turned out to be so attractive that it was decided to use it by quite wealthy countries. The Luxembourg parliament approved a project on special visas for foreign investors who invested at least 500,000 euros in the country’s economy. However, for very rich people there is a simpler option.
Denis Kireev, Evgenia Voronets.
The Parliament of the Grand Duchy adopted this Wednesday a law that permits the issuance of permits to stay in the country to investors from all over the world.
The majority of the deputies of the parliament approved a legislative document that allows those who invest in Luxembourg enterprises or open an account with a local bank to obtain a special visa.
“Measures taken with respect to the issue of residence permits in the country to investors have been developed within the framework of the policy of economic diversification, promotion of entrepreneurship and repositioning of the financial center”, notes the Luxembourg legislature.
The law, which will enter into force in the coming days, puts before foreigners the following condition & ndash; or investing at least 500 000 euros in a commercial enterprise based in Luxembourg, or investing through one of the country’s trust companies in the amount of 3 million euros, or placing 20 million euros in an account in any bank of the Grand Duchy. As specifies edition Le Matin, on investments in real estate action of the law will not extend.
This law, whose primary purpose was the implementation of two European decrees on professional immigration from third countries, is intended to support the financial center of Luxembourg, which slowed down after the bank secrecy.
According to the legislators of the Grand Duchy, this law will attract wealthy people to the country. Mainly, Luxembourg counts on a rich clientele from South America, China, the Middle East and Russia.
However, the deputies emphasize that the law is not a pass-through ticket for the rich. The Duchy is interested in professionals in the field of finance. In addition, the provisions of the law that are suitable for some foreigners already living on the territory of the country are limited by an article that establishes the minimum period of stay in the territory of the state only after which it will be possible to take advantage of the privileges & ndash; 6 months.
According to the International Monetary Fund, in half of the countries of the European Union there are already programs that facilitate the procedure for obtaining permission to stay in the state and even citizenship for foreign investors. Among such countries are France, Great Britain, Ireland, Spain, Portugal and Greece.