Are you looking for a safe country with a high standard of living to continue your life? If you have enough funds, then Norway is your option. Norway is known for many things. From winter sports, spectacular landscape, the venue of Nobel Prize, to Northern Lights, etc. You need a Norway Investor visa to move to this country.
In this blog, we will explain who is eligible for a Norway Investor visa, requirements, the area you can invest in, FAQs, and more.
What is a Norway Investor visa?
Norway has a strong and open economy. The authorities understand the advantages of a free market. They make as much as an effort to develop business in the country. One way is foreign investment. The Norwegian authorities welcome foreign investment with open arms. They have introduced the Norway Investor visa to attract investments into the country. If you comply with the requirements, you can move to Norway and achieve a Permanent Residence.
Who is Eligible for a Norway Investor visa?
Almost anyone who complies with the requirements becomes eligible for a Norway investor visa.
To be eligible for a Norway Investor visa, you have to fulfill a few requirements. The first one is that you must be eligible to enter Norway. You must have a valid passport from the country you live in. Also, you must not be involved in:
- Terrorist activities
- Be in jail of prison
- Trying to overthrow governments
- Human trafficking
- Drug dealing
Providing that you have been convicted of a crime and can not provide a clean record, you are inadmissible to enter Norway.
Initial investment funds
Applicants for the Norway Investor visa must also have enough funds. The least required amount to invest in Norway is 100.000 EUR. You must prove to have the least amount to be eligible for the investor visa.
Please note that the eligibility criteria for a Norway investor visa might change.
Proof to have enough funds
Apart from the initial investment fund, you must have enough money to cover your expenses in Norway. Norway is a pretty much expensive country. Financial independence is a must. If your family is traveling with you, you must be able to support them as well.
The Norwegian government might introduce new rules. If not, they might ask for more requirements.
Norway Investor visa requirements
There are different requirements for a Norway investor visa to work in the country. Also, the authorities might require further supporting documents by the country you reside in. But a general list of requirements is as follows:
- Proof of source of the fun
- Bank statement
- Proof of accommodation
- Personal documents (birth and marriage certificate)
- Proof of accommodation
- Evidence of registered investment
- Cover letter
- Bank account in Norway
Note: As explained, the above list is a general one and the officials will ask you for further documents.
What Business Fields Can I Invest in?
The investment through the Norway Investor visa must create jobs. It must make a considerable contribution to the Norwegian economy. The main business activities of Norway is oil and gas. It would be wise to pick a business field that is stable and has a bright future. However, at the time of application, the Norwegian government might set restrictions. You could invest in:
- Seafood maritime
- Green energy
- Oil & Gas
- IT section
- Advanced manufacturing
- Port and logistics
- Research and development
- Tourism and leisure
- Education and medical
You could also start a new company in Norway and move. First, you should propose your business plan to the authorities. If they approve it and you have enough investment fund, you can start your business.
You could visit the Norwegian embassy or consulate in your home country for Norway Investor visa application. The application process for each country is a bit different.
Norway PR by investment
Applying for Norway PR or Permanent Residency is possible under the investment visa. It is the stepping stone to citizenship. When you receive a Norway investor visa and move to the country, the officials will grant you a permit valid for one year.
You can extend the permit for another year and stay in the country. The applicants are permitted to extend the permit for up to three years and after passing that time, you can apply for PR. But during your stay, you need to come up with the national law and respect the citizens. You may not commit any criminal offense or hurt others.
Can I Bring my Family Under Norway Investor Visa?
YES. One of the main benefits of a Norway investor visa is bringing the family. You can bring your spouse or law partner and under 18 children to Norway. The requirement for family financial independence. You must be able to support them financially. It is true until your business or investment makes a profit.
Can I apply for Permanent Residence under a Norway Investor visa?
YES. The officials grant you a one-year residence permit for a Norway Investor visa. If you are still eligible, obey rules, and fulfill requirements, the authorities extend the permit for another year. After three years of living in Norway, you can apply for a Permanent Residence.
Can I Apply for Citizenship under a Norway Investor visa?
YES. The first requirement is to live in Norway for seven years. The government will set the requirements and eligibility for it. When you fulfill this first one, you can apply to the authorities to ask for more information.
Norway investment visa for Indians
The Indian nationals can apply for the Norway investor visa in fact everyone can apply for the investor visa. They have to come up with the requirements and provide every supporting document.
Being able to transfer the least required fun for the visa is a must for Indians. They can not receive a loan from inside Norway and the money must come from outside.
Often the officials might require the source of the fun so you would better prepare the documents not to be surprised while applying.
Is there a limit on countries applying for a Norway investor visa?
No. The Norwegian authorities have set no limit on the country of your residence for applying for a Norway investor visa. As long as you have enough funds to make the investment and fulfill the other eligibility principles, there is no limit. However, EU citizens can not apply for the visa and they must go through a different procedure.
Norway investor visa processing time
The processing time for the Norway investor visa is about one month. However, It could take a bit longer due to your case and the country you reside in. After vaccination and opening the borders, the authorities are granting tourist visas. So they could be busy issuing tourist visas or the visas delayed during the Covid-19 pandemic. So longer processing time should not surprise you.
Also, you should consider the processing time for your investment. You need to complete your investment then apply for the visa. It involves doing research to find a suitable category that fulfills your conditions. Remember that the investment must create profit for the country or create job opportunities in the mentioned fields.
Do you need a lawyer or law firm to apply for an investor visa?
The answer is up to several factors and there is no definite one. First, you should look at your conditions:
- Are you fluent in English or Norwegian language?
- Do you have enough information about the investment process?
- Can you visit Norway to investigate options in person?
- Can you receive a tourist visa to move to the country?
There are other items that determine the final answer. If you have the time and can speak English, you can apply for a Norway tourist visa and complete the investment in the country. If not, receiving help from a lawyer or immigration agency is a decision you must make.
Which is the best country for PR?
There are different countries in the world that are famous for attracting immigrants:
- United Kingdom
- United States
Moving to every one of these countries requires different procedures. The first one is language. If you are fluent in English, so your choices might become limited to English-speaking countries or if you have learned B2 in German, you can only apply for Germany, Swiss, and Austria.
Then comes the immigration way that is different for each country. Canada, for example, has more than 60 immigration programs while the US has over 100.
Before choosing your country, see what you want from the desired country and what your preferences are; diversity, economy, the distance between your home country and the destined country are all important. Norway investor visa is one of the options that might suit you.
Norway golden visa; is it different from investor visa?
Norway investor visa and Norway golden visa are completely the same. The term golden is used for either:
- Citizenship by investment
- Residence by investment
- A hybrid with immediate residence followed by accelerated citizenship
There are various golden visas around the world:
- New Zealand.
- The UK
- The US
Norway is among the most famous countries providing the golden visa as there is not much red tape and the required fund is lower compared to other countries.
Norway citizenship by investment 2022
The possible changes to the Norway investor visa for 2022 have not yet been announced. It remains to be seen whether the government changes the required investment fund or sets new regulations over the program.
If you intend to apply for the program, you would better fulfill the current eligibility principles. The future is not known and you will be able to prepare yourself for it.
Let’s sum up…
In this blog, we explained all you should know about the Norway Investor visa.
We have covered who is eligible for an investor visa, requirements, FAQs, and more.
You can find all the Norway visa information in the world here.
To find out more about the visa that suits you, go through the menu of the site. You can find all the types of Norway visas in the left sidebar.
You can check Visa Library to find more information about other countries’ visas.
In case you have some experience, please write it down in the comment section. Your comments let the readers choose better and avoid mistakes. Conveying your experiences as comments is a great help for applicants.