Estonia Major Investment Visa | A Complete Guide

Overview

Estonia’s investment visa is mainly divided into two categories: the Major Investment Visa, which requires a higher investment amount, and the General Investment Visa, which requires a lower investment amount.

Here, we are discussing the Major Investment Visa. If you want to learn about the General Investment Visa, which is suitable for company shareholders and self-employed individuals, you can click the link to read more.

Estonia’s Major Investment Visa has been in operation since January 18, 2017. This visa is issued to foreigners who inject more than 1 million euros into a locally registered company or fund, generating a direct impact on the Estonian economy.

In addition to the investment requirement, the primary applicant must also meet the following basic conditions: be at least 18 years old, be in good health, have no criminal record, have previous business experience, and have sufficient financial resources to support their living expenses in Estonia.

“Sufficient financial support” means that in addition to the investment, the primary applicant must also have a stable income of more than 200 euros per month (with an additional 160 euros required for each adult secondary applicant and 240 euros for each minor secondary applicant).

In the European region, Estonia’s Major Investment Visa has two major advantages:

1. Firstly, the Estonian government only needs to see the capital injection; applicants do not need to submit a business plan, do not need to actually reside in the country, and do not need to prepare a local address.

2. Secondly, the Estonian government accepts investment devaluation. The Estonian government’s stance on this program’s investment funds is to allow the free flow of capital within the country. You can transfer your investment from one company or fund to another, and it also accepts investment devaluation (for example, if you purchased a fund worth 1 million euros and its value drops to only 800,000 euros, you can still maintain your visa).

However, if you transfer the funds out of Estonia, the visa will be canceled.

Application Process:

The application process for Estonia’s Major Investment Visa can be divided into two steps:

1. Applying for an entry visa: After completing the investment, you can gather all the required documents and attend an in-person interview at the nearest Estonian embassy or consulate to obtain the visa.

Required documents include:

• Applicant’s identity documents: This includes a valid passport with at least two blank pages for both the primary and secondary applicants, passport-sized photos, and documents proving the relationship between the primary and secondary applicants, such as birth certificates and marriage certificates.

• Application form: You need to fill out, sign, and submit an application form online, along with an explanation of the secondary applicant’s situation.

• Bank endorsement: You need a certificate issued by a bank to prove that you can legally meet the 1 million euro investment requirement for the visa and have sufficient financial resources to support the living expenses of all primary and secondary applicants in Estonia.

• Proof of no criminal record.

• Proof of health insurance: You need to purchase health insurance valid in the Schengen area with an annual coverage of over 30,000 euros for each primary and secondary applicant.

• Proof of completed investment.

The Ministry of Economic Affairs and Communications in Estonia handles all matters related to visa issuance.Once the visa is approved, you will receive a one-year Estonian entry visa.

2. Applying for a residence permit: After obtaining the entry visa, you can schedule an appointment at an Estonian embassy or consulate abroad, or at a domestic service office (PBGB) in Estonia, to convert the one-year entry visa into a five-year investment residence permit.

Dependents:

For Estonia’s Major Investment Visa, the spouse and minor children of the primary applicant can also obtain the visa as secondary applicants.

Visa Validity:

The residence permit for Estonia’s Major Investment Visa is valid for five years, and it can be continuously renewed as long as the investment is maintained.

Foreign nationals who have legally resided in Estonia with a long-term residence permit for five years, have valid health insurance for the Schengen area, understand Estonian culture, have reached at least a B1 level in the Estonian language, and have a stable income in the country are eligible to apply for permanent residency.

Foreign nationals who have legally resided in Estonia for eight years, or for five years after obtaining a permanent residence card, and who pass government-organized tests on language, national institutions, and culture, are eligible to apply for naturalization to become Estonian citizens.