Czech Business ImmigrationThe Czech Republic, situated in Europe and a member of the European Union, has a rapidly growing economy and welcomes foreign investors. Rife with culture, history, and art, the Czech Republic is an increasingly attractive destination for investors seeking international investment opportunities.
Long-Term Temporary Visa in the Czech Republic
The Czech Republic has established a two-step process for obtaining permanent residence through entrepreneurship. First, the Czech Republic government must approve the investor for a long-term temporary residence permit. To do so, the investor must submit an application to the Czech government containing, among other materials, an explanation of the purpose of the investor’s stay, what sort of business the investor will be investing in, the business’s commercial activities/services, etc. Once the application is approved, the investor and family (spouse and minor children) will be issued long-term temporary visas that will be initially valid for six months. (The Czech Republic does not extend long-term visas but rather issues resident permits as described below.)
Long-Term Residence Permit in the Czech Republic
Once the investor has resided in the Czech Republic for longer than ninety days, and continues to have the intent to remain in the Czech Republic for longer than one year, and continues to develop the commercial enterprise, the investor can apply for a long-term residence permit. To do so, the investor again submits an application to the Czech government, this time providing the government with proof that the investor has sufficient funds to support the family, that the investor has complied with all applicable personal and corporate tax laws, and that the investor does not have any outstanding fees or contributions to the local employment office.
The investor is required to submit the application no earlier than ninety days after the initial entry in the Czech Republic and no later than fourteen days before the expiration of the investor’s long-term visa. If approved, the investor and the family will receive long-term residence permits that are valid for an initial period of two years. These permits may be extended multiple times.
One of the major benefits of long-term residence in the Czech Republic is that the investor and family will also be eligible to live in Switzerland, Lichtenstein, and the more than twenty other countries that are party to the Schengen Agreement.
After the investor has been continuously residing in the Czech Republic for at least five years, the investor can apply for Czech citizenship. To do so, the investor much show proof of the five-year residency, proof that the investor will lose the current nationality of the home country, proof that the investor has not been sentence for a criminal offense, and proof that the investor has met all obligations regarding the possession of health insurance, and the payment of social security, taxes, pensions, and other required fees. Additionally, the investor will need to appear at an interview with a Czech government official to show the official that the investor has an acceptable knowledge of the Czech language.