News - Netherlands

Netherlands - November 2013

Wealthy foreign nationals may be eligible for Dutch residence permit

Since 1 October 2013, wealthy foreign nationals may qualify for a temporary residence permit, on certain conditions:

  • The wealthy foreign national must invest at least 1,250,000 of capital in Dutch trade & industry.
  • The investment must have an added value for the Dutch economy. The business support office of the Dutch Ministry of Economic Affairs (Agentschap NL) will establish this on the basis of a scoring system.
  • The invested amount must be paid into a bank account of a Dutch bank, or a bank of an EU Member State with a branch in the Netherlands that is under supervision of the Dutch State Bank.
  • The origin of the capital of the wealthy foreign national will be verified

All conditions will have to be met in order to qualify for a residence permit.

The residence permit for wealthy foreign nationals will initially be issued for one year. The wealthy foreign national is allowed to carry out work during the term of the residence permit without requiring a work permit. The application will cost 2,000 in administrative charges. After expiry of the first year, it will be necessary to apply for a renewal of the residence permit.

Resources

Amendment of 20 September 2013 to the Decree implementing the Foreign Nationals Employment Act (in Dutch language)

Decision of the Minister of Security and Justice of September 20, 2013, number WBV 2013/19, amending the Foreign Nationals Employment Act 2000 (in Dutch language)

For further information or to discuss the consequences of the above, please contact Wendy Terporten on +31 10 224 6 434 at Loyens & Loeff Rotterdam - http://www.loyensloeff.com.

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