Relaxed eligibility criteria for obtaining a residence permit under the foreign investor program - Netherlands
July 25, 2016
In a move that aims to attract more high-net worth foreign individuals, the Dutch government has relaxed some of the eligibility criteria for a residence permit under the foreign investors program. The following main changes are set out below and they took effect on 1 July 2016:
- The residence permit will be issued for 3 years instead of 1 year;
- The investor will no longer be required to submit a statement from a Dutch accountant regarding the origin of the funds;
- The points-based system used to assess the added value to the Dutch economy (i.e. employment, innovation and non-financial contribution) will also be applied less strictly, with more options as to the type of investment that can be made.
The amount to be invested remains the same at EUR 1.25 million.
What this means for you as an employer?
As this change does not necessarily impact a permit type aimed at company employees, there is little impact on employers.
That said, though the requirements have been made less strict, the overall success of this route may be limited. This is due to the fact that the invested funds must add value to the Dutch economy and so the scheme is likely to be of limited benefit to wealthy individuals who do not have an entrepreneurial background.
Please do not hesitate to reach out to your usual PwC Legal contact for further details.