The trend in several countries today is to offer a deal and offer speedy and fast residency permits. This may lead to citizenship provided one is ready to make an investment in local businesses and property.
Getting an access to the single market in Europe, and the freedom of traveling and working across the 28-nation trading bloc are the motivating factors to opt for such an approach. There are studies, which reveal that the programs are offered by the governments, across the world to lure the investors. There is a methodology to rank based on quality, value, and reputation. The primary means to gain residency is either through the purchase of property or making a monetary investment in the countries.
Here is a list of the countries in the EU which facilitate for entry at low cost and provide easy access to get residency status.
12. Bulgaria: requires a deposit of €500,000 in a bond portfolio for five years floated by the Bulgarian government. This will be sufficient to gain qualification for the Bulgaria, Residency Program.
11. Greece: At first the process to receive a “D” visa, has to be done and then the investors can send an application for Greek residency after purchasing properties worth €250,000.
10. Cyprus: It has a low corporation tax rate of 12.5% for residents’ business. Applying for it the investor is required to buy a property worth €300,000. Buying citizenship in Cyprus is not expensive. The program targets investors and the country has lowered citizenship investment requirements.
9. Monaco: Residents of Monaco do not pay income tax, wealth tax or capital gains tax and can travel freely to all Schengen area countries. it is an attractive option for wealthy families.
8. Jersey: Jersey has a low tax regime and a great climate. The minimum investment requirement for residency comes with a cost of £125,000 a year and is open to the people who earn £625,000 or more.
7. United Kingdom: The UK has a residency program where the people can make an investment of £2/ £5 /£10 million
6. Latvia: for obtaining a Latvian temporary residence permit, the investor is required to buy real estate worth €250,000 and also pay a fee of 5% to the government on the transaction.
5. Spain: issues a resident permit when the investor buys a €500,000 house or invests €2 million in the government debt.
4. Malta: Malta is a relatively easy nation to invest. One can purchase a €275,000 property and it applies a low 15% tax rate for permanent residents. It has made an effective use of its EU membership and has tried to attract investors in a big way. Malta has announced citizenship measures subject to requirements and limitations: people are now needed to reside on the island, and the program is limited to 1,800 passports.
3. Portugal: In order to obtain Portuguese residency the investor has to create 10 jobs with a business and transfer €1 million into a Portuguese bank. There is another option: to buy a house for €500,000.
2. Belgium: An application for Belgian residency takes two months for processing and if the employment is gained in the country it acts as a qualifier not requiring investment.
1. Austria: There are 10 types of residency permits issued by Austria. These do not require any investment and residency permits can be used for free travel across the Schengen area without a visa. In Austria, one gains residency, through employment or by opting for a permit. It is designed for those who cannot make an investment