Settlement Permit Program
Investment immigration by definition is where an individual or ‘foreign investor’ is required to invest a specific amount of money into a country to make themselves eligible for a permanent residency visa. Each country will stipulate the set sum of money required by the applicant in order for them to be issued a residency visa. The investment generally has to be made to a pre-approved project in the country they seek residency in, and it must be solely for the benefit of the country’s economy.
Norway is considered a prominent location for foreigners to reside in, due to its strong and stable economic infrastructure and respected legal framework. Norway has a high standard of living and relatively low living costs. It is rich in resources and is considered a highly sought after location for obtaining prominent business links between the UK and the rest of the EU. Norway has a good employment rate and offers attractive working conditions. As such, it is a popular destination among foreign investors for the purpose of obtaining a residency visa.
Before an applicant can be eligible to seek a permanent residency visa, they must first obtain a temporary visa to initially reside in Norway. There are several requirements of this visa application, which are:
Under Norwegian immigration law, a permanent residency permit is known as a settlement permit. There are several conditions to be met in order for the applicant to be eligible for a settlement permit in Norway. These include:
Nationals from the EU/EEA and EFTA are all eligible to seek a residency permit in Norway where they wish to remain in Norway for a period of longer than 3 months.
The following classifications of people will be accepted in application of this permit:
Under Norwegian immigration law the applicants spouse and dependents may also seek a permanent residency permit.
Even though a settlement permit entitles you to stay in Norway permanently, it is a requirement that you actually live in the country. If you live abroad for two or more years you will lose your permit. In some cases, you may apply for an exemption to this rule if you have a good reason for living abroad for an extended period of time.