Large Investor Temporary Residence Permit

Applicants must invest at least €1,000,000 into one of the following categories: - **Estonian Companies**: Investment must be made directly into Estonian companies with the goal of contributing to the local economy and promoting business development. - **Investment Funds**: The investment can also be made into an investment fund that is actively investing in Estonia. These funds must be approved and regulated under Estonian law.

This program requires a minimum investment of €1,000,000 into Estonian companies or investment funds focused on Estonia.

Applicants must invest at least €1,000,000 into one of the following categories:

The investment specified in subsection 1 of this section is required to be lasting during the period of validity of the residence permit. The investment is lasting if the investment is not reduced during the period of validity of the residence permit, except for due to the fluctuations in the market price of the investment, or it has not been taken out from the company or investment fund specified in subsection 1 of this section.

The company or investment fund in which the initial investment was made as required for the issue of a residence permit may be changed during the period of validity of the residence permit

of this Act need not be fulfilled as a requirement for the issue and extension of a temporary residence permit to a large investor for enterprise.

In case a foreign national is applying for a residence permit for the purpose of settling with the spouse or registered partner who holds a temporary residence permit issued to a large investor for engagement in business, the requirement for actual dwelling specified in subsection 1 of § 117 of this Act and for the place of residence registered in the population register specified in § 121 and subsection 3 of § 129 of this Act is not applied as a requirement for the issue and extension of a residence permit.

If a foreign national is applying for residence permit for the purpose of settling with the close relative who holds a temporary residence permit issued to a large investor for enterprise, the requirement for actual dwelling specified in subsection 1 of § 117 of this Act and for the place of residence registered in the population register specified in § 121 and subsection 3 of § 129 of this Act shall not be applied as a requirement for the issue and extension of a residence permit.

() A temporary residence permit issued to a large investor for enterprise is a residence permit for enterprise

(1) A temporary residence permit is issued with the period of validity of up to five years.

(1) A temporary residence permit may be extended for up to ten years at a time.

(2) The investment specified in subsection 1 of this section is required to be lasting during the period of validity of the residence permit. The investment is lasting if the investment is not reduced during the period of validity of the residence permit, except for due to the fluctuations in the market price of the investment, or it has not been taken out from the company or investment fund specified in subsection 1 of this section.

(3) The company or investment fund in which the initial investment was made as required for the issue of a residence permit may be changed during the period of validity of the residence permit provided that the company or investment fund in which the investments have been made comply with the requirements provided for in subsection 1 of this section.

() The issue or extension of a temporary residence permit to a large investor for enterprise may be refused or the residence permit revoked if:

1) a foreign national has not made the investment specified in subsection 1 of § 197^3 of this Act or the investment is not lasting during the period of validity of the temporary residence permit;

1) he or she has resided in Estonia on the basis of a residence permit for at least last five years before the submission of the application for a residence permit for a long-term resident;

2) he or she has a valid temporary residence permit;

3) he or she has a permanent legal income which ensures his or her own subsistence in Estonia;

4) he or she is deemed to be an insured person for the purposes of the Health Insurance Act or a treaty of the Republic of Estonia;

5) he or she has met the integration requirement;

6) the information of his or her place of residence has been registered in the Population Register;