Residency by Investment in Slovenia - we provide professional legal assistance
Residency by Investment in SloveniaUpdated on Sunday 24th October 2021
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The legislation regulating immigration matters in Slovenia stipulates that foreigners can obtain residency by investment, in the case in which the applicants meet the requirements stipulated by the law. Thus, foreigners who want to open a business in Slovenia are entitled to obtain residency here when making an investment.
The Slovenia residency by investment procedure has to be initiated by the applicant who wants to invest in this country; for information on the legal requirements imposed in this sense, you can always address to our team of lawyers in Slovenia. We also invite you to read the information presented in this article, as it will provide relevant details regarding this subject.
How can foreigners apply for Slovenia residency by investment?
The process for obtaining the Slovenia residency by investment can be influenced by the nationality of the applicant. Slovenia is a member state of the European Union (EU) and it thus differentiate between persons who are citizens of the EU arriving here (based on the free movement of persons regulations applicable in the EU) and citizens of third party countries. However, all foreigners will need to comply with the following:
- the requirements for obtaining the residency by investment are stipulated by The Employment, Self-Employment and Work Aliens Act 2015;
- in order to be eligible, applicant must be able to invest EUR 50,000 in the local economy;
- all applicants must have an age of at least 18 years old at the moment when the application is made;
- foreigners applying for Slovenia residency by investment must also take into consideration that all the procedures that have to be met will generally be completed in a period of 1 to 4 months;
- through this, the foreigner will benefit from the legal pathway to permanent residency (which can be obtained after 5 years of living in Slovenia) and to Slovenian citizenship (the applicants are eligible after 10 years of continuous living in Slovenia).
Requirements to apply for the Slovenia residency by investment
The list of the documents one has to prepare can be presented by our team of Slovenian lawyers; here, we will present the prerequisites of the procedure; please mind that, although in most of the situations, foreign investors do not have to be personally in Slovenia in order to complete the necessary procedures, in certain situations, their presence may be necessary. Below, our law firm in Slovenia has prepared the highlights of this process:
- first, an invitation to work in a Slovenian company has to be made – the invitation will be made for the investor who wants to set up a business here, in which he or she will become an employee;
- the foreigner can become an employee in the Slovenian company (that he or she will register here), if certain conditions are met;
- when we refer to the residency by investment, besides the minimum capital, investors must invest in certain types of assets;
- the main assets that are eligible are fixed assets, intangible assets and property (movable and immovable);
- the procedure will start by opening the Slovenian company and selecting the suitable investment sector.
What are the conditions for obtaining the Slovenian golden visa?
Slovenia does not prescribe in its national law a specific golden visa. However, the closest visa conditions that can be associated with the Slovenian golden visa are the ones mentioned above, which refer to the single type of program that can be used as a way to invest here, obtain a residence permit issued on a permanent basis and even citizenship, for those who want to become a citizen of this country.
As said above, the Slovenia passport by investment can grant the right to becoming a permanent resident and this can take place after living here on a continuous basis for 5 years. Although naturalization can occur after other 5 years, for foreign investors there is the possibility of starting the naturalization process after 2 years since the permanent residency has been obtained.
Exceptional conditions can apply, in the case of foreign businessmen who have made a very significant investment in the local economy, in certain fields that are of interest for the Slovenian authorities, but this happens infrequently and the process has to be started by the investor, who must present the ways in which he or she is eligible for the Slovenian golden visa and the preferential residency/citizenship procedures. For this particular situation, our team of lawyers in Slovenia can be of assistance.
In order to start the process of obtaining the Slovenia passport by investment, foreign businessmen must present all the documents necessary for this procedure. Thus, it is required to have a valid health insurance that must comply with minimum requirements; then, the investor must have a valid passport that will expire after the visa validity (and here, a minimum period of 3 months is necessary).
The foreigner must make the proof of having sufficient financial funds to live in Slovenia, outside the required capital for starting a local business or investment in a local company/project. A police clearance issued in the home country of the foreigner is also required.
The document has to be translated into Slovenian and it must be issued with maximum three months prior to the moment when the application file is prepared. A standard photo is required as well, as well as fingerprints, which will be taken by an official consular mission of Slovenia in the country where the foreigner resides at the moment when the Slovenia golden visa application is made.
Although the country does not currently have a Slovenia golden visa program, it is important to know that the local authorities take into consideration a proposal that aims at this purpose. Through the local proposal, foreign businessmen can acquire residency and citizenship in Slovenia after making an important contribution in the local economy.
Currently, the minimum threshold that is being discussed refers to a minimum investment of EUR 1 million. This program is currently under review as a way to attract investments in Slovenia following the effects of the Covid-19 pandemics. Even so, the most important aspect that will be of interest for the local authorities is the trustworthiness of the investors, and not only the ability of making the respective investment.
In the case that the program will be approved and implemented into the national system, foreign businessmen who will benefit from it will have a set of rights, amongst which we mention: the right to live in Slovenia and move freely in all EU member states and the Schengen area, the right to enter numerous countries without further visa approvals, the United Kingdom included, as well as simpler rules of traveling to certain countries.
Here, we mention countries such as the United States of America, New Zealand, Canada. Please mind that the Slovenia passport by investment will open the right to access the services of the Slovenian banks as well as EU banks. Our team of Slovenian lawyers can offer additional information on the procedure to travel from Slovenia to the countries listed above.
The decision to consider the creation of a Slovenian golden visa was also influenced by the fact that numerous European countries provide such programs, most of which have had very good results and are in demand. We invite you to request more details on the current situation of this proposal from our law firm in Slovenia.
It is also worth knowing that those will enter the available investment program, the one which requires an investment of EUR 50,000, will have the right of bringing in this country their close family members, provided that the visa application is successful. The family members will receive temporary residence which can be transformed into a permanent residence, as long as the family members will meet the required criteria.
What are the main steps in opening a Slovenian company?
As said above, the main procedure the investor should first comply with when applying for Slovenia residency by investment is to set up a company. As a general rule, most of the foreigners will select a limited liability company, due to the fact that it provides multiple benefits to its founders and protection against company’s debts.
Besides these, the capital requirement, of EUR 7,500, represents an accessible way to set up a business here; for the procedure of opening a local business, our team of Slovenian lawyers remain at your disposal. You can rely on our team when preparing the incorporation documents and during the steps that have to be completed with the local institutions.
Common aspects to be completed are: opening a corporate bank account, obtaining a tax number for the company’s founders, obtaining business permits in accordance with the business sector in which the company develops its operations (where applicable), finding a suitable office space to be used as the headquarters of the company, register with the tax institutions and obtaining the company’s accounting documents.
Although the process itself is not very complicated, it is best to receive legal representation from our law firm in Slovenia, as there are numerous steps, documents and procedures that have to be competed not only during the registration of the company, but also in the process of obtaining the residence permit. This is why we highly recommend you to contact our team of Slovenian lawyers.