The following are major points to consider for business immigration to Luxembourg.
These people are moving to a country such as Luxembourg, which has an economy that provides stability and a suitable business atmosphere. it becomes obvious why they have chosen to settle down there. The advantages are numerous: political stability, economic might, good connectivity, and a lot of educated people are the factors contributing to the success of Europe. For business immigrants, there are various options for obtaining a residence permit:
Investor visa
The investor visa program is specifically designed to recruit investors who are willing to set up and start doing business in Luxembourg by capitalizing their projects with a minimum of 500,000 euros for each of their projects.
Self-employed visa (SEV)
Developed to cover business or professional in a self-employment meaning full-time. Needs are to be accomplished by producing a well-developed business plan, which is approved and agreed upon.
Skilled employee visa – EU Blue card
Reserved for those professionals who have employment contracts with a Luxembourg company and are in demand for skilled occupations like IT, finance, engineering, scientists etc.
On the other hand, in terms of business investors and self-employed individuals who are planning to apply for a visa, the business plan should be followed as well and it should be implemented in a way that is sustainable in Luxembourg. Factors like the growth stage of the business & marketing plan, the type of office or facility location, credentials & experience, and funds & financial resources also play significant roles.
The involvement of the business immigration consultants with experience and deep knowledge of Luxembourg immigration policy shall be very helpful in terms of simplifying and smoothing your way through quite a voluminous application process. And also guides you through the complicated requirements for non-EU citizens who are not aware of Luxembourgish regulations at all.
Luxembourg’s business immigration process
Luxembourg’s business immigration process is similar to Latvia’s, however with its unique elements and rules which need to be met. Here’s an overview:
Choose your business structure
Choose the legal form you want to establish, that is a company or a limited liability company in Lithuania. Available variants are joint-stock company or LLC (UAB), sole proprietorship or partnership, or a branch office of a foreign company.
Meet investment criteria
The nation provides different investment options for business immigration including investing in a new or existing Lithuanian company, buying property or making a contribution to the economy of the country.
Meet financial requirements
Explain that you have a solid financial plan (both for you and your family) that will help you settle in this country. The amount of money needed can change from one situation to another and also according to the immigration program, you wish to apply through.
Apply for a residence permit
Applying for a residence permit through the Lithuanian Migration Department is the next step. Often, that would mean filling in a form, presenting your investment or business plan, and proving your financial capability.
Submit documents
Get ready and send all the stationary papers to your residence permit application. Which of these may be your passport, proof of investment funds, business plan, a document confirming your place of residence here, and any other document required?
Wait for approval
The processing period for residence permit applications may vary, but it usually takes around three months. During this period the Migration Department will be conducting an assessment of your application and if necessary, could be conducting interviews or background checks.
Arrive in Luxembourg
Once you obtain the residence permit, you can come to this nation and either start your business here or make the targeted investment.
Renew your residence permit
In most cases, the visas are given for a limited period and then can be extended. Be sure to note in your diary the date when the residence permit will expire and complete the renewal application form on time so that you can go on living here.
With any immigration procedure, it’s necessary to stay aware of the requirements and procedures, which in many cases might be changed in the future. Discussing with legal experts or immigration professionals who have their specialization in Luxembourg immigration law is a good way of getting useful information and assistance during the whole process.
This therefore speaks to the foreigners who are planning to apply for my country residence permits for business or work.
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