- August 3, 2020
- Posted by: Editor
- Category: Law
The Polish legislation does not prescribe a straightforward system that can lead to citizenship by investment in this country. The only way to obtain citizenship here is by applying for a residence permit (at first, a short-term residence permit and then for a permanent residence permit) and live in this country for the required period of time that can allow a person to be qualified for the proceedings applicable to Polish citizenship.
Investors moving to Poland will thus have to apply for a temporary residence permit that will allow them the right to live here and start the business activity they are interested in carrying out. Upon the expiration of the document, they can apply for a permanent residence permit, through which they will be entitled to the Polish citizenship in a given period of time; our team of immigration lawyers in Poland can assist with information regarding the application procedure.
What are the conditions for citizenship by investment in Poland?
Foreign businessmen who want to relocate to this country and to apply for Polish citizenship can do so in specific conditions. First, they need to invest at least EUR 100,000 in a business that will then be evaluated as being profitable. The annual turnover the company is expected to generate is of at least EUR 15,000, these financial aspects being the basic legal requirements for applying for Polish citizenship by investment. Other aspects foreign businessmen should take into consideration are the following:
• the legislation for Poland immigration regarding citizenship stipulates that the foreign investor must have lived in this country for at least 3 years on the basis of a permanent residence permit prior to applying for citizenship by investment;
• the person must be the holder of a residence card and must have a profitable business in Poland (and pay taxes accordingly);
• the investor must have lived in Poland on a continuous basis, with the mention that breaks are allowed, as long as the overall period of not living here is less than 10 months;
• the applicant for citizenship by investment in Poland must have a stable source of income, which can refer to income from dividends, income from work contracts and other types of sources;
• proof of having a stable place to live, such as the long-term rental contract or the proof of property ownership in Poland;
• the command of the Polish language is also necessary – the minimum requirement is B1 level.
Foreign businessmen starting a business in Poland can register any of the legal entities that are prescribed under the Polish legislation, such as corporate entities (limited liability company or joint stock company) or partnerships. Information and assistance on the business environment in this country can be obtained from the Polish Agency for Enterprise Development, an agency that can also help foreign businessmen.
We can also advise on the procedure of obtaining a residence permit in Poland.
What are Poland’s most important investment partners?
Poland provides a set of attractive advantages for foreign investors from its strategic geographical position, to its large labor market and special economic zones. Currently, Poland has a very stable economic market and it ranks, at a global level, as the 40th economy for its business climate (in a study carried out by the World Bank – 2020 Doing Business). Related to foreign investments in this country, we present the following:
• in 2017, the country’s main foreign investor was Germany, accounting for 20,2% of all the investments;
• the United States of America accounted for 11%, while the 3rd most important partner was France (9,8%);
• the 4th top investor was the Netherlands (8,8%), while the 5th was the United Kingdom (5,8%);
• foreign investors moving to Poland preferred the manufacturing sector (31% of all the investments);
• the financial and insurance activities represented the 2nd most important activity (20,5%).
We can offer our assistance to those who want to apply for Polish citizenship.
It must be noted the Poland immigration rules stipulate that a foreign person can have dual citizenship after obtaining citizenship by investment or through other means. However, in the case of foreign investors who want to maintain their basic citizenship, it is advisable to verify the legal requirements of their home country, as they may be required to forfeit the respective citizenship upon the approval of a new citizenship in a foreign country; our team of immigration lawyers in Poland can offer more information on such requirements.
As a general rule, investors from European countries can maintain the first citizenship, but there are few exemptions from this. Investors who need more information on the process of obtaining Polish citizenship by investment can address to our team of immigration lawyers in Poland for professional advice and legal representation. Do not hesitate to inquire about the residence permit in Poland.