The law on immigration has already brought 220 million lats (1)
In the North, the scandal led to amendments.
In Estonia, effective July 1, amendments to the law “On Foreigners”, which toughen the requirements for recipients of residence permits based on business and investment, came into effect. They increase the minimum required investment in an Estonian enterprise & mdash; from 63,900 to 65,500 euros (up to 45,800 lats) to an ordinary legal entity and from 15,950 to 16,000 euros (up to 11,200 lats) when registering an individual merchant. When extending the permit, as explained in the migration service of the neighboring country, it is necessary to prove that the invested money was not collected or to show the results of economic activity: sales of at least 200 thousand euros for the last year or payment of social tax from this period for five years of average salaries.
This change was preceded by a scandal that erupted in December last year. The press reported on wealthy citizens of the CIS countries who received an Estonian residence permit on the basis of investments in companies that in fact did not work and the country’s economy did not benefit. The newspaper Eesti Ekspress wrote about an apartment where Russians and Belarusians registered 147 companies who discovered the pleasures of living in the Schengen area. The fact that this practice, according to the media, was promoted by politicians from the party professing close to our National Association, “soil-like”, contributed to the special piquancy of the situation. views. A consequence of the scandal was the investigation begun and the amendments mentioned.
The Estonian embassy in Latvia was not able to clarify the income of the economy from foreigners receiving residence permits, but reported that last year only 142 residence permits were granted on the basis of entrepreneurship. Another interesting detail: more than half of the motions applicants & mdash; mostly Russians & mdash; have submitted not at home, but in Riga.
A typical Lithuanian project.
In Lithuania, the possibility to obtain a residence permit on the basis of investment and commercial activities is also provided for by law. Having invested at least 50 thousand litas (10 thousand lats) in a Lithuanian company, a citizen of a third country can apply for a corresponding permit. With the caveat: “if its presence is necessary to achieve the business objectives of the organization”. As explained in the Department of Migration of Lithuania, there are other options & mdash; For example, if the investment is less than LTL 50 thousand, the foreigner receives a work permit for residence on special agreement with the local employment service. Judging by the statistics of the department, the mentioned options are very popular: on the basis of legal activity & raquo; (mainly entrepreneurial) in 2010, 548 new temporary residence permits were issued.
Let’s remind, in Latvia the foreigner, can receive a residence permit through investments into a fixed capital. The Immigration Act provides for such an applicant two options. Conditional & economy class & raquo; the amount of investments (not less than 25 thousand lats), the size of the company (no more than 50 people), turnover (does not exceed 7 million lats) and tax deductions (within a year – from 20 thousand lats). The premium-variant demands to enclose 100 thousand ����� in a fixed capital. And that’s all.
However, the Latvian residence permit due to investments in real business is not very popular. For two years, i.�. Since the moment when the immigration law was introduced with the rules allowing to accept foreigners in exchange for supporting the economy, the Citizenship and Migration Board recorded only 115 relevant investments for the amount of 6.7 million lats. On their basis, 225 temporary permits for residence in the country were issued. Where more enthusiastic wealthy citizens of Russia, Ukraine, Kazakhstan, Uzbekistan and Belarus (of the 1,512 investor visas as of the end of June 1408 issued to representatives of these countries) cause Latvian real estate and banks. In the houses and apartments already invested more than 171 million lats, in deposits & mdash; 43.2 million lats.
Such a modest interest in the types of residence permits through enterprises can be explained simply: a business can go, or it may not. Real estate is the same as real estate, so that you can not go anywhere & mdash; as well as accounts in financial institutions. Unfortunately, the rules of the immigration law have little effect on the inflow of foreign investment in the fixed capital of companies, and until the residence permit has become a sufficient incentive to raise funds from abroad in the real sector & raquo ;, & mdash; stated the Ministry of Economy in the comments for. However, the department notes the general beneficial and direct impact of the described norms on the national economy of the country: the money poured into Latvia by recipients of residence permits accounted for almost 20% of investments in the private sector from July 1, 2010.
Evaluating the immigration normative base, the managing partner of Padva un Partneri Baltija, Mikhail Parinov, stated that the Latvian one is favorably different from the other countries in the region: on the one hand & mdash; more options for the potential investor, on the other & mdash; clarity of formulations. & laquo; In Latvia, the legislation governing this area is very clearly structured. Thanks to this, all & mdash; legal bureaus, banks, real estate companies, their clients & mdash; there is a certainty that if certain and clear requirements are met, the residence permit will be guaranteed. The recent tightening of Estonian legislation is due to the fact that there was enough space for evaluation criteria, which is why there were not very beautiful stories involving foreigners and officials & raquo ;, & mdash; the expert believes.
According to him, Estonian legislation (at least in its original form) did not actually oblige foreign investors to bring real benefits to the country’s economy. & laquo; A similar situation was in the Czech Republic & mdash; there it was possible to register a company with zero capital. Such firms often did not conduct any economic activity, did not pay any taxes, but at the same time their founders and officials had the right to obtain a residence permit & raquo ;, & mdash; gave an analogy to M.Parinov.
Cities where recipients of investor visas buy real estate, top-10:
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Well, yes, 16 July 2012 02:39.
Well, now from the “joy” all the inhabitants of panties jump out, what kind of economy, what country. you are generally talking about, who has social benefits increased or tariffs decreased? .. Such delirium from Kriminal did not expect. A pig country with a pigs residence permit, with a pig’s parody of life in the EU countries, even in “poor” Greece, benefits five times higher than the disgrace of the Lapta cesspool, and the allowance for children in the 8ls is generally the peak of the cynicism of the pigs.