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Receiving Permanent Residency in Slovakia through Real Estate Investment
Slovakia is a central European country that offers many opportunities and advantages for those seeking to do business and reside in this country. The high standard of living and low prices compared to other European Union countries make Slovakia an ideal destination for those seeking cost-benefit advantages. Additionally, Slovakia’s tax system competes favorably with the most competitive countries in Europe, which may lead to lower taxes for income, properties, and businesses for immigrants from “third world” countries. Slovakia is located within a short driving distance from Vienna, making it a perfect place for those who want to live in a city with rich cultural foundations, developed infrastructure, and plenty of travel options. Furthermore, Slovakia is characterized by relatively low levels of crime and high safety standards. These factors make Slovakia a worthwhile place for those interested in investing and living in this country.
Investment Plan for Obtaining Permanent Resident Status in Slovakia through Real Estate Investment
The investment plan for obtaining Permanent Resident (Pobyt Trvalý) status in Slovakia allows citizens of third-party countries to obtain Permanent Resident (Visa Golden) status in Slovakia through investment in the Slovak economy. The plan was approved according to § 43 of Law No. 404/2011 and is intended for investors who wish to obtain permanent resident status in Slovakia for themselves and their families.
According to the requirements of the law, the goal of real estate investment in Slovakia can be to achieve Visa Golden status in Slovakia in the context of an investment plan aimed at obtaining permanent resident status. In order to achieve this, you must ensure that the real estate property you intend to invest in meets the requirements of the plan.
As stated in the plan, the investor must invest a minimum amount of 50,000 euros in the Slovak economy, but usually, in order to receive a written recommendation from the Ministry of Finance to grant permanent residency to a third-country citizen who meets the interests of the Slovak Republic, an average investment of 200,000 euros is required. This can be done through the purchase of real estate, the establishment of a business, or investment in other projects that meet the requirements of the plan.
Benefits of Permanent Resident Status (Pobyt Trvalý)
- Freedom of movement in Slovakia without restrictions and visa requirements.
- The right to work in Slovakia without the need for a work permit.
- Access to healthcare and social benefits like Slovak citizens.
- The right to study in Slovak higher education institutions like Slovak citizens.
- To maintain the appropriate status, there is no need to live in Slovakia for less than 183 days per year.
If you choose to purchase real estate within the program, you must ensure that the property meets certain requirements, such as:
- The property must be located within the territory of Slovakia.
- The property must be a legal property registered in the name of the investor.
- The cost of the property must be at least 50,000 euros.
- The property cannot be used for commercial purposes.
It is necessary to hold real estate in Slovakia for at least 5 years from the moment of obtaining permanent resident status. Additional details will be provided according to the investment plan.
When selling real estate in Slovakia, it may be necessary to pay a tax on the profit from the sale (capital gains tax), which is 19% of the difference between the selling price and the purchase price. It is also important to consider certain requirements regarding the sale of real estate in Slovakia, such as the need to transfer ownership rights and undergo a legal process. Therefore, it is important to contact our company to receive additional information and assistance in the property sale process.
Useful Links from Government Websites:
- More information can be obtained from the website of the Ministry of Finance of Slovakia.
- Details of the program for obtaining permanent residency through investment in the Slovak economy.
- Investment program for obtaining Visa Golden permanent residency in Slovakia.
Togetthere is a real estate and immigration agency operating in offices in Haifa and Bratislava, equipped with a professional team including real estate experts, financial advisors, and lawyers. We specialize in finding properties that meet the requirements of the government program and provide legal support for property purchases. We assist our clients in submitting the necessary documents to the Ministry of Finance and submitting the application to obtain Visa Golden permanent residency after receiving the recommendation.
The process typically involves the following steps:
- Property Search: The first step is to find a property that meets the regulations of the investment program in Slovakia in order to receive a recommendation from the Ministry of Finance.
- Contract Signing and Payment: After finding the suitable property, you need to sign a purchase agreement and make the payment.
- Legal Support: To ensure ownership safety of the property, we provide legal services and advice at every stage of the transaction.
- Document Submission to the Ministry of Finance: After purchasing the property, we will submit the required documents to the Ministry of Finance to obtain the recommendation for permanent residency.
- Application Review: The Ministry of Finance will review the application for obtaining the recommendation for permanent residency within 90 days.
- Obtaining Permanent Residency: If the recommendation is approved, a request will be sent to the immigration police with a request for permanent residency, and you and your family will receive the status of permanent residents of Slovakia. The Permanent Residency Card is generally valid for 5 years.