Slovakia Citizenship by Investment - Guide for 2023
Slovakia Citizenship by Investment
Updated on Thursday 23rd March 2023 Rate this article
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Slovakia is an appealing investment destination not only for entrepreneurs in Europe, but also for many outside the Old Continent. Starting a business in Slovakia is not complicated and the development opportunities are quite big considering the link with the European Union. One of the most sought programs for immigration in Slovakia is the citizenship by investment program, however, this country does not have a scheme resembling those of other EU member states. Also known as the Slovakia Investment Visa, this type of residence permit enables foreign citizens to permanently live here.
Below, our immigration lawyers in Slovakia explain how foreign citizens can move here and the minimum amount of money to invest in order to obtain permanent residency followed by citizenship. We are at your service for tailored immigration support.
| Quick Facts | |
|---|---|
| Nationalities accepted (EU/Non-EU) | Non-EU citizens can apply for citizenship by investment in Slovakia |
| Business investment option (YES/NO) | YES |
| Real estate investment option (YES/NO) | No, there is no option to obtain Slovak citizenship by investment by buying real estate |
| Other investment options (if available) | NO |
| Living requirement in Slovakia (YES/NO) | YES, foreign investors are required to move to Slovakia |
| Residence or direct citizenship option | Temporary residency followed by permanent residency can be obtained at first |
| Direct immigration with family members (YES/NO) | YES, the applicant's family can also apply for residence permits |
| Family members allowed to join the program | Spouse and children |
| Residence visa/citizenship processing time (approx.) | Approx. one week |
| Additional financial requirements for family members (YES/NO) | NO |
| Timeframe for obtaining citizenship/residency by investment | Citizenship by investment in Slovakia can be obtained after 8 years |
| Dual citizenship permitted (YES/NO) | YES |
| Reasons to choose Slovakia | Great location in the heart of Europe, European Union membership, access to the entire European business and labor market |
| Visa free travel to other countries (approx. number of countries) | Approx. 187 countries |
Significant foreign investors in Slovakia
As mentioned earlier, immigration to Slovakia does entail a specific residency or citizenship by investment program, however, its Immigration Law through Act No. 175/1999 provides for the so-called significant foreign investors who can enter and settle themselves here by starting a business.
In order to obtain a Slovakia investment Visa, this type of investors is required to invest an important amount of money in a Slovak enterprise, however, they must also meet other requirements.
Here are the main aspects to consider when it comes to the Slovakia citizenship by investment scheme applicable to significant foreign investors:
- a minimum of 100 million euros which must be invested in the development of a company;
- the investment must also target the creation of at least 300 jobs;
- the investment must have a significant impact on Slovakia’s economy.
It must be noted that starting with 2023, Slovakia has a new Foreign Direct Investment Act that distinguishes between vital investments and non-critical investments. Crucial investments are those made in a Slovak objective where there is a higher danger of negative consequences for Slovakia's public order or security. Some of the sectors include energy, transportation, health care, chemicals, and information technology.
It should be noted that this type of investment can benefit from the regional aid offered by the country’s government. At the moment, this is one of the most advanced support schemes provided by an European country’s government. If you are interested in investing in Slovakia and apply for such an aid, our lawyers can provide detailed information on the programs developed by the authorities here.
Once the documents that prove the creation of the company and the investment, the investor will receive the Certificate of a Major Investment issued by the Ministry of the Interior.
Conditions to be met by applicants targeting Slovakia citizenship by investment
Foreign citizens who are interested in moving to Slovakia with the purpose of obtaining a Slovakia Investment Visa must meet certain requirements apart from the condition of injecting the above-mentioned amount of money.
Among these, they must submit their clean criminal records. This condition involves the following:
- the record must be filed by investors coming from their home countries;
- it must also be filed by citizens who have lived in other countries than their state of origin.
Foreign citizens, such as non-EU citizens who have relocated to Europe, are required to file a criminal record issued from the country they lived for more than 3 months in the past 3 years.
It should also be noted that this program is not limited to non-EU citizens only, as investors from EU countries are also entitled to relocate here and obtain significant foreign investor certificates.
Our law firm in Slovakia is at the service of foreign citizens who are interested in this program and can help them gather the needed documents for immigration to Slovakia in 2023.
Our lawyers can also help foreign citizens interested in obtaining a divorce in Slovakia.
How to apply for residency followed by citizenship by investment in Slovakia
Among the documents that need to be submitted when seeking to obtain Slovak citizenship by investment are valid passport, the clean criminal record, as well as proof of the investment to be made, alongside a business plan. Applications are assessed on a case-to-case basis by the Ministry of Interior and temporary residency can be obtained in the first stage.
As a general rules, permanent residence can be obtained after 5 years of living in Slovakia, while citizenship is available after 8 years. What should be noted when it comes to significant foreign investors, though, is that they are not required to live in the country for 8 continuous years in Slovakia or fluently speak Slovak in order to obtain citizenship.
Our immigration lawyers in Slovakia can help you with the application for the Slovakia Investment Visa in 2023.
Facts on Slovakia and its investment programs
For those who want to relocate to Slovakia is useful to know that:
- 6 major investment certificates were issued between 2012 and 2017;
- immigration approval in the case of major foreign investors can take up to 2 years;
- with a Slovak passport, one can freely travel to no less than 181 countries.
If you are considering immigrating to Slovakia, please contact us. You can get in touch with our lawyers for a range of services, such as help with work permits and the Investment Visa. Please be aware that there are different rules for people moving here from outside the EU versus within the EU. We can help you with the formalities no matter where you live. If you are from a country outside of the European Union and want to move to Slovakia, you must first apply for a residence permit.
If you are interested in citizenship by investment and need assistance, our immigration lawyers in Slovakia can help you. Do not hesitate to contact our Slovak law firm right away!
