Norway Citizenship by Investment - Guide for Foreign Investors in 2023
Norway Citizenship by InvestmentUpdated on Thursday 23rd March 2023
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Foreign citizens who want to move to Norway can apply for various types of residence permits that enable them to live here for as long as they want, with the condition that upon expiry they renew they residence documents.
One of the main categories the government wants to attract is investors, which is how the Norway citizenship by investment scheme was created. The program aims at overseas businesspersons interested in relocating here and making important contributions to the economy in exchange for permanent residency followed by citizenship.
Below, our immigration lawyers in Norway explain the main requirements associated with the investor visa program. We are at your service if you want to apply for it.
Conditions to obtain a Norway investor visa in 2023
While citizens of EU, EEA countries and Sweden benefit from less stringent requirements if they are seeking immigration to Norway, non-EU citizens who want to acquire residence here must apply for visa that enable them to live and work or own companies here. The Norway investment visa is one of the most suitable programs under which this category of immigrants can successfully enter and relocate here.
Here are the main conditions under which a foreign citizen can obtain Norway citizenship by investment:
- the scheme is open to persons who have turned the legal age of 18;
- these must have clean criminal records upon filing for residency;
- the amount of money to be invested starts at 100,000 euros and has no limits for those willing to invest more
- the money must be invested in a qualifying business and must support the creation of jobs.
This program is one of the most appealing among Northern European countries thanks to the investment requirements and to the fact that it is open to those interested in some of Norway’s most appealing economic sectors.
Our law firm in Norway can guide foreign entrepreneurs interested in applying for investor visas in drafting their documents for successful relocation in 2023.
Qualifying activities for businesses under the Norway investment visa
While other countries offer multiple choices to those who want to move and obtain residency, the Norway citizenship by investment scheme for 2023 provides for one option: that of opening a company on investing in an existing business. However, the activities this enterprise must undertake can be one of the following:
- oil and gas;
- green/clean energy;
Our immigration lawyers in Norway can help you set up a business in any of the industries presented above. We can also assist if you want to acquire shares and thus become a participant in such a company with the purpose of obtaining residency as an investor.
Documents to prepare to obtain Norway citizenship by investment
The procedure for obtaining residency followed by citizenship by investment in Norway in 2023 is not complicated and requires the preparation of various documents that must be filed with the Immigration Directorate.
Among the documents to be prepared are the valid passport, the clean criminal record, health insurance and proof of the financial requirements (the source of the money will be checked for legitimacy), as well as proof of being able to support oneself and the family, if the main applicant relocates to Norway with close relatives.
If you want to apply for a Norway investor visa, our lawyers can help you prepare the file you need to file with the authorities.
Residency followed by citizenship in Norway
What should be noted about the Norway investment visa is that once obtained it will lead to permanent residency after 3 years of living here. Citizenship will be acquired after 7 years of dwelling in this country.
Another important aspect to be considered about this program in comparison to others is that it does not come with special conditions or benefits for investors. Successful candidates, however, will be allowed to buy properties and settle here just like other foreigners who come here based on employment or for other purposes.
You can rely on our Norwegian law firm for more information on immigration to Norway in 2023. Generally speaking, you should pay taxes on your Norwegian-earned income if you work here. Your employer can obtain your tax deduction card electronically from the Norwegian Tax Administration if you are listed as a resident of Norway. You can apply for a tax deduction card at your local tax office if you are not registered in Norway or do not have a Norwegian identity number.
Norway’s population and immigrants in numbers
Norway is one of the most prolific economies in Northern Europe which attracts businesspersons and foreign workers. At the end of December 2020, the country’s population was 5,391,369 inhabitants.
In term of immigrants, there 38,075 foreign citizens living here at the end of 2020. According to statistics:
- 3,657 were Polish citizens with residency here;
- 3,174 were Swedish citizens, while 2,702 were Danish;
- 1,948 British citizens lived in Norway in the same period.
If you wan to apply for Norway citizenship by investment and need support, please contact us.