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The second permit for Wealthy Foreign Nationals has been issued in the Netherlands, to an Asian investor who made use of the option to invest in a seed fund. This will be encouraging news for the Dutch authorities, who have been tweaking the program since its introduction in 2013 in an attempt to make it more attractive to foreign High Net Worth Individuals. The most recent round of changes were implemented on 1 July 2016, in reaction to the very underwhelming response to the permit thus far.
The Dutch program requires a qualifying investment of at least € 1.25 million, which can be invested in any of the following ways:
- Directly in an innovative Dutch company;
- A contractual joint venture that invests in one or more innovative companies;
- A participation fund affiliated with the Netherlands Venture Capital Association (NVP); or
- A seed fund recognized by the Minister of Economic Affairs.
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