18th November 2016

Radio Praha: Czech government seeks to ease residency for foreign investors

The Czech government is readying to debate a proposed amendment which should make it easier for foreign investors, planning significant investment in the Czech Republic, easier to gain long-term residency permits. Under the proposal, applicants would be allowed to stay for two years before their project came under review by the Czech Ministry of Industry and Trade. Under the current system, investors must first apply for long-term visas, Radio Praha wrote. At its session on 16 November, the Government postponed the debate over the proposal.

I think we are talking about individual cases or applications rather than hundreds of people applying for this new type of permit (the so-called investment card), said Magda Faltová of the NGO Association for Integration and Migration. The time limit for the permit will be two years and we are talking about larger investments. After two years, "the Ministry of Industry and Trade will review the invenstment plan and the reality around the business, compared to the current situation when the business plan is looked upon by the Ministry of the Interior or the Ministry of Foreign Affairs. That might be an advantage as well," she added. 

Read the article, listen to the interview here (in English).

Read also Which nationalities are granted the most EU residency permits? posted on the World Economic Forum portal.

Members of the American Chamber of Commerce in the Czech Republic