The Prague Daily Monitor reports that the Czech Ministry of the Interior is drafting a proposal to include investment as means to qualify for residence in the country. The draft would be part of an amendment to the foreigner’s residence law, already endorsed by the Chamber of Deputies and currently awaiting Senate approval.
According to the draft, a foreigner would need to formulate a business plan, employ 20 Czechs, and invest no less than 75 million Czech Koruna (around US$3M). That sum may come down considerably during the course of deliberations in the Senate and the government.
According to the article, the sum of 75 million Koruna may not necessarily have to come from a single investor; rather a collective of up to five investors could qualify for long-term residence.
Read the full story here.
Photo credit: Peter K Burian, CC BY-SA 4.0
