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Complete guide to applying for one of the investment visas for Estonia, the required documents, benefits, and FAQs

Estonia is a country that offers excellent opportunities to extend your business in the country. If you are a businessman who wants to develop your business or have new ideas for an innovative company with expanded opportunities, you can apply for an Estonian Investment Visa. 

Benefits of the Estonian Investment Visa

Many benefits come with an Estonian investment visa: 

  • You have access to a higher standard of living. 
  • You are free to visit other Schengen countries. 
  • You have access to better health and education.
  • You can easily apply for citizenship if you plan to continue on living in Estonia.  
  • You have travel benefits, allowing you to extend your business in different countries. 
  • You have the full support of the Estonian government since they support startup businessmen or businesswomen. 
  • Estonia is located ideally, and it offers you a perfect location for trade between Russia, Asia, and Europe. 
  • Estonia is known for free Wi-Fi connection, for different opportunities for future ITs and other internet-related services. 
  • Almost everything needs to be purchased and finished online. 
  • Estonia is known for its economy as being rated as having one of the highest freedom of economy in the world and the Central Eastern European region. 
  • Estonia has the most liberal tax system in work, and only the corporate income tax needs to pay dividends. 
  • Estonia is known as home to different accelerator programs for startups. 

Estonia Investment Visa Criteria

To apply for an Estonian Investment visa, the investor must meet the following criteria: 

  • The investor must be older than 18. 
  • The investor must be in good health condition.
  • The investor must have no criminal record. 
  • The investor must be financially stable to invest the requested amount in Estonia. 
  • The investor must have experience in running a business.
  • The investor must know the Estonian industry. 

Estonia Investment Visa Options

There are two Estonia Investment visa options: 

  • The Major Investment Visa.
  • The General Investment Visa. 

Major Investment Visa

To apply for a major investment visa, you must invest at least €1,000,000 in an Estonian company registered in the e-Bussiness Register. Your investment must directly impact the Estonian economy. You can also invest the same amount in an investment fund.

Keep in mind that the investment must be permanent while your residence permit is valid. This rule does not apply if there are changes in the market price and the investment suffers from it. However, you can change your investment through other registered companies to continue investing in Estonia. 

Note: If you apply for a major investor visa, you do not need to submit a business plan. You are not required to have a residence in Estonia, and you are not obligated to register your place of residence with the Estonian Population Register. 

General Investment Visa 

You can apply for a general investment visa as a sole proprietor. This means that you are a (freelancer or a self-employed) and must invest at least €16,000, or if you want to invest in another company in Estonia, you must invest at least €65,000.

Note: Your physical appearance is required whether you apply for a temporary residence permit in your home country or in Estonia.

Estonia Investment Visa Documents

Here are all the documents you must submit when applying for an Estonian Investment Visa:

  • Valid passport. Your passport must be valid at least three months after the return date. Make sure you have two blank pages in your passport and include a copy of previous visas (if any). 
  • Application form. You can fill out the application form online, print a hard copy, and sign it at the end. You are obligated to fill out the application form with sincere responses and with your up-to-date information. 
  • Bank statement. This is a document issued from your bank, and it must prove that you can fulfill the requested investment to apply for an investment visa and prove that you can finance yourself while staying in Estonia. 
  • Health insurance. Valid health insurance within the whole Schengen area. It must have coverage of €30.000 in case you face any health problems while being in Estonia.  
  • When applying for a major investment visa: Document proving that you have invested the requested amount. 
  • When applying for a general investment visa:
    • Business plan
    • The company’s name and registration code. 
    • The business activities, clients, development plans, capital, and fixed assets.
    • The company’s financial forecast for the next two years includes income statement, balance, and cash flow. 
    • The manager and supervisor’s CV. 
    • A motivation letter explaining the purpose of your visit to Estonia and explaining your impact on the Estonian economy. 

How to Apply for an Estonia Investment Visa?

The application process for an Estonian investment visa is divided into two main steps:

  1. First, you must apply for a national visa for investment at the Estonian embassy. Contact the nearest Estonian embassy in your home country, book an appointment, gather all the requested documents, and submit them to the Estonian embassy. A long-stay D visa will allow you to stay in Estonia for one year. 
  2. Next, if you want to stay longer than one year in Estonia, you can apply for a temporary residence permit. You have two options on how you can apply for a temporary residence permit:
    • You can apply for a temporary residence permit in your home country when applying for a long-stay D visa; or
    • Apply for a temporary residence permit after entering Estonia at the Service Office (PBGB). You must contact the Service Office and book an appointment before applying for a temporary residence permit. 

Duration of the Estonian Investment Visa

The duration of an Estonian Investment visa is 12 to 18 months. However, if you are issued a temporary residence permit, you can stay in Estonia for five years. 

Can You Obtain Estonian Citizenship by Investment?

Yes, you can obtain citizenship by staying in Estonia with an investment visa. However, you must know that Estonia does not allow dual citizenship. This means that if you want to apply for citizenship in Estonia, you must let go of your previous citizenship in your home county. This needs to be done before or after officially becoming an Estonian Citizen. 

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