Friday, June 14, 2024
CEOWORLD magazine - Latest - Money and Wealth - All You Should Know About The Polish Residency By Investment Program

CEO JournalMoney and Wealth

All You Should Know About The Polish Residency By Investment Program

You cannot underestimate the influence of having a portfolio of passports. Investors go to great lengths to acquire passports among the strongest in the world. Why? Because these passports are gateways to countries with foreigner-friendly political, cultural, and economic aspects. Moreover, these countries offer access to other countries with fewer administrative hassles. All in all, having solid passports is a priority among investors, and they often resort to Golden Visa Schemes to achieve that.

Poland is one of the countries with a powerful passport. It offers access to the countries of the European Union and the United States. Moreover, you can access globally renowned healthcare infrastructure, a top-quality education system, a peaceful lifestyle, and a highly developed economy.

However, unfortunately, it does not technically have a Residency by Investment Program. What it does offer is an indirect way to acquire residency in the country through its Business Investor Visa. Through this, investors can eventually acquire residency in the country. Using this route, investors can possibly acquire citizenship as well. How? Well, read below to know the answer.

  1. Simply Explained
    Before we dwell on the nitty-gritty of the scheme, you should know what this visa scheme is all about. In simple terms, a Business Investor visa can be granted to those investing in the country. Unlike most of its counterparts, the scheme does not mandate an upfront investment of a definite sum.
    However, what the investor is required to do is to establish a business in the country and produce a minimum of EUR 13,000 every year. Alternatively, you can invest in the growth of the existing companies. If you satisfy these conditions, then you may become eligible to apply for a temporary residency and permit. Now, it is pertinent to note that the duration of the permit depends heavily on the amount of income generated.
  2. In what ways you can invest
    Generally, real estate is an option for investment in these schemes. However, the Polish Investor Visa Scheme does not limit the choices and allows investors to invest in several sectors and multiple assets. You can start your business in varied forms, for which processes differ.
    Under Polish law, there are four business type options: Joint Stock Company, Limited Joint-Stock Partnerships, Limited Liability Company, and Limited Partnerships. Before anything else, you must carefully go through the requirements for establishing each of these and the obligations related to them.
  3. The timeline for residency and/or citizenship
    As noted earlier, you must generate a minimum income in a year, following which you can apply for a temporary residency and permit. However, to apply for a permanent residency, you must continue with these investments for at least three years. Once these three years are completed, you should apply for a permanent residency.
    If you wish to acquire citizenship, you must wait a little longer. Another set of three years will have to be spent before you become eligible for citizenship by naturalization. If your investments are about EUR 1 million or above, you can apply for expedited naturalization by merit.
  4. What about your family?
    The same rules apply to your family members for conducting business in Poland under the investor visa. Family members must have a residency permit, temporary or permanent, to conduct business here. Moreover, it is incumbent upon them to show that they indeed plan to establish a business.
    Thus, all the eligibility criteria apply to the family members. All the documents you are expected to submit will have to be submitted by your concerned family members. Each of these applications will be vetted before any approval is given. Note that all family members have the right to apply for citizenship after the satisfaction of the aforesaid criteria. 

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Ayushi Kushwaha
Ayushi Kushwaha, Staff Writer for the CEOWORLD magazine. She’s spent more than a decade working for various magazines, newspapers, and digital publications and is now a Staff Writer at The CEOWORLD magazine. She writes news stories and executive profiles for the magazine’s print and online editions. Obsessed with unlocking high-impact choices to accelerate meaningful progress, she helps individuals and organizations stand out and get noticed. She can be reached on email