Czechia Introduces New Financial Criteria for Long-Term Residence Permit Applicants

According to the Czech Interior Ministry, the new financial measures for foreign nationals applying for long-term residence entered force on April 1, and it obliges applicants to prove they hold 15 times the amount of the average minimum wage in the Czech Republic, which is €110.61, AtoZSerwisPlus.com reports.

Additionally, the foreign national must present proof of their income through a bank account statement, other documents showing the applicant has financial security, or a valid internationally accepted payment card.

“A foreign national is obliged to prove the availability of funds that are 15 times the amount of the existential minimum (in accordance with the Government Regulation No. 75/2022 Coll., as of April 1, 2022, the following minimum is equal to 2 740 CZK) for the first month and double the amount of existential minimum for every month afterwards,” the press release explains.

In addition, the same source reveals that for a stay from September 1 to February 28, the amount would be €2767.81, considered as a semester, while the amount for longer stays such for a year (September 1 to August 21) can cost up to €4096.36.

According to data from Statista, net migrations, indicating immigrations without emigration, peaked at 28,090, showing a decrease of 28 per cent from the previous year, when 39,168 people migrated to Czechia.

Furthermore, the number of immigrants in Czechia increased in 2019, reaching 105,888. This number was below 2008 levels by 2.7 per cent or 2,379 immigrants, which was a record number for the decade.

As per emigration rates, it reached the highest numbers for the period between 2006 to 2019, marking an all-time high of 77,798 emigrants. These levels of emigration were the closest to 2009 levels when 61,782 emigrants were recorded.

Data from the European Office for Statistics, Eurostat shows that the naturalisation rate in Czechia was 0.5 per cent in 2019. This means that about 557,458 total foreign citizens became residents while 2,934 acquired citizenship.

As per other EU Member States nationals becoming Czech residents, this number stood at 225,400, with 616 acquiring citizenships in the Central European country. Non-EU citizens accounted for 332,058 residents, while 2,301 acquired citizenship.

In addition, the naturalisation rates for other EU citizens are 0.3 per cent, and for non-EU citizens stands at 0.7 per cent.