Rules for obtaining a residence permit for wealthy foreign nationals revised
Since 1 October 2013, wealthy foreign nationals may qualify, contingent on certain conditions, for a residence permit (see our earlier update). As per 1 June 2014 the rules have been revised. The principal changes are as follows:
- Wealthy foreign nationals may reside outside the Netherlands up to a maximum of eight months, without their residence permit being revoked (the usual period is six months).
- The minimum investment of €1,250,000 in Dutch companies may now be made directly or indirectly via seed funds, private equity funds, or contractual joint ventures. It is still a requirement that the investment is paid into a qualifying bank account and brings added value to the Dutch economy. If wealthy foreign nationals invest in a seed fund or private equity fund that is a member of the Nederlandse Vereniging van Participatiemaatschappijen (The Dutch Private Equity and Venture Capital Association), it is automatically assumed that the investment brings added value.
- Wealthy foreign national are exempt from the requirement to take the basic civic integration exam.
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