Luxembourg’s immigration regulations: new opportunities for investors and global companies
The Luxembourg Parliament voted a new immigration regime introducing more types of residence permits and transposing two EU directives into national law. Alongside amendments to previous immigration rules, the resulting change brings forward new residence permits for:
– seasonal workers;
– temporary intra-company transfers;
– business continuity plans of non-EU companies.
From a private equity and venture capital perspective, the most interesting development certainly consists in allowing third-country investors to stay in Luxembourg under the condition of investing specified amounts of money into a company or venture in Luxembourg. Another interesting development for the PEVC community (not least because of a looming Brexit) is the residence permit for temporary intra-company transfers (ICT): one can easily imagine current and future third-country individuals working in PEVC to come join a branch of their company in Luxembourg for a period of time. These new rules facilitate the sourcing of talents and highly skilled workers from third countries which are needed in Luxembourg companies.
Changes in existing immigration rules include:
– an extension from two to four years of the European blue card residence for highly skilled workers,
– third country students may now apply for a permit as self-employed or employee from within the territory of the Grand-Duchy,
– family reunion between EU and non-EU family members has become easier.