What are the requirements for foreigners in Lithuania’s neighbor countries: Denmark is considered as the most fastidious, otherwise Latvians may grant a residence permit under the base of a credit
Less difficult and less complex obtainment of residence permit in Lithuania is not supported by everyone, as one representative of Government describes, it may dictate and open ways for fictive companies to be opened. So, it is quite interesting and worthy to observe what kinds of requirements there are for foreigners in such countries like Estonia, Latvia, Ireland, Sweden, Netherlands, Poland, Denmark, France and Finland.
For example, such countries as Ireland furnish their country with high standards and requirements: if a person wants to obtain business certificate, business person must prove that the investition would be not less than than 300 000 EUR.
Some other countries apply lesser requirements or they are, so called, hazy: for example, in Finland each case for business certificate is examined separately.
In Latvia a person can obtain temporary residence permit by taking a huge loan from country’s credit unions.
It is quite worthy to observe that nowadays quite the best option for a person who would like to settle in Europe, is Lithuania: the share capital amount (in Lithuania it is 28 000 EUR) which is requested in every country to establish a company, is the smallest one; investition amount under which a person could obtain temporary residence permit is also the most adequate (starts from 20 000 EUR) when compared with all the other listed countries. In Lithuania, a person can choose from more than few possibilities: new company’s formation, branch office establishment, several investition possibilities, work permit option. Lithuania has, comparatively, the most flexible law system regarding business migration and residence permit matter.
To present this article in a more descriptive manner and to base our last statement about Lithuania being the most valuable and economically investor-friendly country, we will examine each other country below:
Ireland has an option for foreigners who would like to obtain business certificates. A person who wants it must meet these requirements:
-must have not less than 300 000 EUR of personal funds for investitions in Ireland’s business;
-to create not less than 2 employment opportunities for EU citizens or to keep in tact the existing ones;
-also there are parts mentioning that the future business of foreigner would need to be sufficient enough that foreigner would have no need for a work place in Ireland or Governmental benefits, in addition, there is a must for business plan, police clearance.
In Denmark each application and surveilled by a special commission. A person cannot just freely choose what kind of business to start there- a business certificated will not be granted if you want to open a restaurant, small shop or other not economically significant business.
-a person must prove that he/she will support himself/herself during first year of living, a person must have personal funds that would be the equivalent of 1 year social benefits amount (131 616 DKK (17 640 EUR) (12 x 10 968 DKK (1 470 EUR)) for adult person, the same amount is required for significant other, for child- 43 284 DKK (5 802 EUR);
-a person must actively participate in company’s activities on daily basis and that mentioned participation must be a core of company’s formation. If a person participates in business only as a shareholder, he/she will not obtain residence permit.
-by the law in Denmark, business certificate could be only granted for 2 years, furtherly with a possibility to extend it for 3 years (then the commission would evaluate the business once again).
-capital share of a company, under which base a person would apply for residence permit, must be at least 65 000 EUR (for a foreigner who would control whole company);
-capital share of a company, under which base a person would apply for residence permit, must be at least 16 000 EUR (for a foreigner who would like to obtain individual business certificate);
-after 3 years instead of this condition of 65 000 EUR there can be implemented one of these conditions:
a) company’s income from selling must be at least 200 000 EUR;
b) social security fee per 1 employee must cover at least the one that would be paid from 5 medium salaries;
c) a person needs to submit business plan in both Estonian and English.
Required investitions in Latvia:
-35 000 EUR for Limited Liability Company which must contain at least 50 employees, company’s annual balance must not overreach 10 million EUR and there is required to pay at least 40 000 EUR taxes per 1 year;
-150 000 EUR for Limited Liability Company which must contain at least 50 employees, company’s annual balance must not overreach 10 million EUR;
-a foreigner can apply for a residence permit for a period up to 5 years if he/she purchases real estate in Latvia which is evaluated for more than 250 000 EUR.
-a foreigner can apply for a residence permit for a period up to 5 years if he/she has financial obligations of not less than 280 000 EUR in Latvia’s credit institutions;
-a foreigner can apply for a residence permit for a period up to 5 years if he/she obtains state’s stocks with its nominal worth of 250 000 EUR an a person pays 25 000 EUR into state’s fund.
In Poland foreigners must have social security, stable income (at least 144 EUR) for daily basis expenditures. Also a person must declare his/her living address and a company under foreigner’s control must meet these standards:
-company’s income for last year must be not lesser than 12 medium monthly salaries or there must be employed 2 polish citizens (with non terminated employment contracts).
-a foreigner must prove that he/she will meet whole package of requirements in future too, i.e. company’s activities are being under development: there would be implemented technological progress, useful innovations, new work places.
-a foreigner must not be considered as a threat for public order and national security;
-he/she must have personal funds to live in a country for 12 months;
-he/she has adequate requirements in order to start some kind of business;
-his/her business activities must serve in favor for current Netherlands’ interests, thus it is evaluated by Netherlands’ business agency;
-a person is considered as a director or shareholder when he/she has at least 25% of company’s share capital, a person admits to handle all the risk that could affect his/her income.
In France if a person wants to become a seller, manufacturer or artisan, he/she is required to obtain temporary residence permit. A foreigner must prove that his/her activities would be economically possible and relevant to implement, also, in accordance with state’s national security, would not harm people’s health and/or public order.
In Finland a person who wants to work there must obtain temporary residence permit. Each -application for it is evaluated separately.
If a person is private or family business owner, he/she is selected in a category under his/her personal qualification or skills. In this case, a person must apply for a residence permit as a working person. Until there is no granted temporary residence permit, a person cannot work in a country;
-if a person is a partner in a body corporate or is employed in his/her own company, he/she must obtain temporary residence permit as a working person;
-the same applies for a person who has shares in Limited Liability Company and is employed in it. A residence permit will not be granted if a person only has a part of shares in LLC, he/she is required to work in that company and activities must occur and be developed in Finland.
In Sweden if a person is planning on working for more than 3 months and establishing a company, he/she must:
-prove that he/she has sufficient experience in his/her work sphere and previous experience in his/her own business;
-have ability to communicate in Swedish and/or English;
-prove that he/she is a head of the business and takes responsibility for it, also that he/she owns at least 50% of business;
-prove that his/her provided business service or merchandises are actually sold or/and made in Sweden;
-a person must prove that he/she will support himself/herself during first year of living, a person must have personal funds that would be the equivalent of 1 year social benefits amount (200 000 SEK (21 414 EUR) for adult person, 100 000 SEK (10 707 EUR) for significant other, for child- 50 000 SEK (5 353 EUR);
-prove that there are ties with clients or/and clientele net in Sweden;
-prove that after 2 years of probationary period company’s finances will be balanced and company’s owner will have an ability to support himself/herself and his/her family members;
-also, Swedish Migration Agency evaluate the submitted business plan.