Security and Justice Minister Fred Teeven had a plan to lure rich foreigners to set up shop in the Netherlands, hoping they would pump money into the economy by being allowed to invest in innovation – and nothing else. In one year’s time, one millionaire was interested but got caught up in red tape and gave up.

The idea behind the plan was to lure small IT companies rather than rich millionaires who buy a mansion and don’t invest, but that was never specified. Dutch online newspaper app Blendle is being funded by Americans, while the Dutch guy behind travel app Gidsy who left Amsterdam for Berlin with money from Aston Kutcher is now continuing his career in San Francisco. When an opportunity to fund innovation crops up, the Dutch government is glaring absent yet it believes to be competent enough to school rich foreigners on innovation.

“Foreigners who invest at least 1.25 million euro in the Dutch business community can get a residence permit for one year,” but only if they invest in innovation. Last time I checked how capitalism works, you let the rich people make business proposals and see if that fits the rules. When I left Canada 15 years ago you could get a resident’s permit for one year for 2,000 CDN (1,400 euro). I can’t possible imagine the price is anywhere near 1.25 million euro and being dictated to by a Dutch uncle.

Teeven doesn’t want criminals coming over and “parking their money”, but let’s be honest, he has a hand in letting in poorer immigrants who are turning to crime. And indeed with a few hundred failed asylum seekers still roaming the streets of Amsterdam two years after we told you about them, Minister Teeven’s policies are epic failures on all counts.

(I wonder if the NLTimes knows it’s using a promotional picture from the American vampire television series ‘The Originals’)

(Links: www.z24, www.nltimes.nl)