Why You Should Consider a Residence Permit Abroad: Key Benefits and Opportunities

Wealthy individuals are now more focused than ever on securing residency in countries that provide both financial advantages and a better quality of life. Residency by investment programs offer a clear and efficient solution, enabling you to gain a residence permit through eligible investments.

Albert Ioffe, Legal and Compliance Officer at Immigrant Invest, outlines the key benefits of these programs and highlights the easiest countries to get residency by investment.

Residence by Investment Benefits

Financial and lifestyle advantages. Residency by investment unlocks significant advantages, such as access to world-class healthcare, top-tier educational institutions, and expanded business prospects. For many, it is also a gateway to citizenship, allowing full rights in a new country.

Also, having residency in multiple countries can provide tax advantages and enhance personal and financial security.

Flexibility and mobility. Many countries offering residency by investment allow for visa-free travel within specific regions. For example, obtaining residency in a Portugal or Hungary country allows visa-free movement within the Schengen Area. This mobility can be invaluable for both business and personal travel.

Wealth preservation and planning. Obtaining residency in a different country can enhance your financial diversification and safeguard your assets in today's volatile global environment. Malta and Cyprus offer favourable tax regimes for new residents, making them attractive for high-net-worth individuals looking to optimise their financial situation.

Access to quality healthcare and education. Residency in destinations such as Greece, Spain, and the UAE grants access to top-tier healthcare and educational facilities, ensuring a higher standard of living for individuals and their families. This is a significant advantage for those considering relocating with their families, as it ensures a better quality of life for both adults and children.

Easiest countries to get a residence permit include Portugal, Hungary, Greece and others destinations, mentioned in the next section.

Top Easiest Countries to Get Residency by Investment

Portugal. Portugal’s Golden Visa program remains highly sought after in 2024, thanks to its adaptable structure and growing benefits for investors. A €500,000 investment in fund units purchase, or a reduced €250,000 investment in certain cases, can secure residency.

The program grants visa-free access throughout the Schengen Area and offers a route to citizenship after five years, without the requirement to reside full-time in Portugal. This flexibility makes it particularly appealing in 2024 for those seeking both freedom of movement and a streamlined path to EU citizenship.

Hungary. Hungary offers a Golden Visa program, which requires a minimum investment of €250,000 in government funds and real estate purchase option.

This program is known for its simplicity and speed, often granting residency within six months. Hungary’s central location in Europe is a significant draw for those seeking access to EU markets.

Hungary’s dynamic economy and prime location in Central Europe make it a key hub for business expansion. Gaining residency here not only grants access to the EU market but also facilitates seamless business operations across the region, positioning investors for growth in an evolving economic landscape.

Cyprus. The country offers a permanent residency program through a €300,000 real estate investment or company bonds purchase.

This program grants residency for life in nine months. Cyprus is also known for its attractive tax incentives and high quality of life, making it a popular choice for retirees.

Real estate investments in Cyprus not only grant residency but also offer potential returns on investment through property appreciation and rental income.

Greece. Greece’s Golden Visa program remains one of the most cost-effective options in Europe, with a minimum real estate investment of €250,000. The program typically grants residency within four months and includes visa-free travel across the Schengen Area.

Given the strength of Greece’s tourism sector, investors can also capitalise on their properties by generating rental income, making this program both a practical and profitable choice.This, combined with the affordable entry point, makes Greece an attractive option for real estate investors.

Italy. The country offers a variety of investment options for residency, including investments in government bonds, companies, or philanthropic donations. The minimum investment starts at €250,000.

Italy’s appeal goes beyond financial incentives. The country offers a high quality of life, with world-renowned cuisine, art, and history. Residency in Italy provides access to a relaxed Mediterranean lifestyle.

Spain. Spain’s Golden Visa program requires a real estate investment of €500,000. The program grants residency and allows for visa-free travel within the Schengen Area.

Spain is home to some of the best educational institutions and healthcare facilities in Europe. Residency in Spain ensures access to these services, making it an ideal location for families.

UAE. The UAE offers a residency program by real estate investment, starting at $205,000. The UAE's tax-free environment and prime location continue to draw high-net-worth individuals seeking financial efficiency and global connectivity.

The UAE offers world-class infrastructure, luxury shopping, and high-end living conditions. This, combined with its tax-free status, makes it a preferred destination for wealthy individuals seeking a blend of modern amenities and financial advantages.

How to Obtain Residence Permit by Investment

Obtaining residency by investment involves several key steps:

1. Choosing the country that best suits your needs and financial situation.
2. Preparation of the necessary documentation, including proof of investment and personal identification.
3. Submitting an application through the appropriate government channels or a legal representative.

Every country sets distinct investment criteria, often involving options like real estate acquisitions or government bond investments. It's crucial to stay updated on the current minimum investment amounts, as well as any additional fees or contributions that may apply, to ensure compliance and make informed decisions..

The time it takes to obtain residency varies by country. Some programs, like those in Greece and Spain, offer fast-track processing, while others may take more than half a year. Careful planning and consultation with legal experts are essential to navigate the application process efficiently.

Once residency is secured, some countries may impose ongoing obligations, such as preserving the investment or fulfilling minimum stay requirements.

Conclusion

Residency by investment provides high-net-worth individuals with a valuable opportunity to secure residency in countries that offer financial, lifestyle, and mobility benefits. Countries like Portugal, Hungary, and Greece offer some of the easiest paths to residency.