For high-net-worth individuals, obtaining residency in a foreign country through investment is a viable option that offers numerous benefits. From visa-free travel to tax incentives, various countries offer attractive residency programs for investors.
Albert Ioffe, Legal and Compliance Officer at Immigrant Invest, breaks down the top residency options available globally and the essential details for each program, including a guide to obtain a UAE residence visa.
What is residency by investment?
Residency by investment, so called golden visa programs, allows individuals to gain residency rights in a country by making a significant financial investment. These programs are designed to attract foreign investors and can involve:
- purchasing real estate,
- contributing to a national fund,
- investing in a business.
The benefits often include the right to live and work in the country, visa-free travel within certain regions, and, in some cases, a pathway to citizenship.
Residency for investors differs from regular immigration processes, as it is usually faster and more straightforward. Investors are not required to meet employment or language requirements and often gain access to high-quality healthcare and education systems, depending on the country.
Many investors also choose Golden Visas as a way to diversify their assets globally and secure a “plan B” for personal or financial security.
UAE
The UAE offers multiple residency options for investors, with the most popular being the long-term visa or the Golden Visa.
Costs. Investment amounts start at AED 2 million for property investments. There is also an option for entrepreneurs who invest in a business with a minimum capital of AED 500,000.
Process. Applicants must provide proof of investment, such as property deeds or business ownership documents. The application is processed through government portals or relevant free zones.
Documents required. A valid passport, proof of investment in property or business, clean criminal record, and health insurance are necessary.
Requirements. Applicants must meet the minimum investment threshold, maintain the investment, and comply with the UAE’s legal and regulatory requirements.
The UAE has attracted investors from all over the world due to its zero income tax policy, strategic location, and well-developed infrastructure. Residency in the UAE also offers visa-free travel to various countries in the Middle East and Asia.
Malta
Malta offers a Permanent Residence Programme (MPRP) for investors looking to reside in the EU.
Costs. The total cost of the investment starts at €150,000, which includes a government contribution, a property purchase or rental, and a donation to a Maltese non-profit organisation.
Process. Applicants must first apply through a licensed agent. The process takes approximately 6—8 months from application to approval.
Documents required. Applicants must provide a valid passport, proof of financial standing, investment documentation, police certificates, and health insurance coverage.
Requirements. To qualify, individuals must make the specified investment, including purchasing or renting real estate in Malta, and show evidence of having sufficient financial resources.
Malta is a popular choice for those looking to reside in the European Union due to its English-speaking environment, stable economy, and access to Schengen visa-free travel.
Greece
Greece’s Golden Visa program is one of the most affordable in Europe, offering residency through property investment.
Costs. The minimum investment amount is €250,000 in real estate, making it one of the lower-cost options for residency in Europe.
Process. The application process involves selecting a property, submitting the purchase documents, and applying for the visa through the Greek immigration authorities. Approval takes 4—5 months.
Documents required. A valid passport, proof of property purchase, a clean criminal record, and health insurance are required.
Requirements. Applicants must invest at least €250,000 in Greek real estate and maintain ownership to retain residency.
The Greek Golden Visa also allows investors to live in Greece, with the option to apply for permanent residency or citizenship after a period of time. Additionally, it offers visa-free access to the Schengen Zone, a major draw for global investors.
Portugal
Portugal’s Golden Visa program is highly popular due to its flexible requirements and pathway to citizenship.
Costs. Investors must commit at least €250,000 for cultural projects.
Process. The process starts with selecting an investment and submitting an application. The approval time varies but typically takes 9 months.
Documents required. A valid passport, proof of investment, police clearance, and health insurance are required.
Requirements. Applicants must maintain the investment for at least five years and spend a minimum of seven days per year in Portugal to renew their residency.
The Portugal Golden Visa is renowned for offering a clear pathway to permanent residency and citizenship after five years, without the need to reside full-time in the country. It also provides access to the European Union’s benefits, including visa-free travel to over 170 countries.
Cyprus
Cyprus offers permanent residency without obligations to renew a status.
Costs. The investment starts at €300,000 in residential or commercial real estate or business capital.
Process. Investors can apply through the Cypriot immigration department, and approval is typically granted within 9 months.
Documents required. A valid passport, proof of investment, financial statements, police records, and health insurance are required.
Requirements. The applicant must invest the specified amount and maintain ownership of the asset.
Cyprus is an attractive destination for investors seeking residency due to its favourable tax system and the fact that permanent residency can be granted within two months.
Spain
Spain offers a Golden Visa program for investors who wish to reside in the country while benefiting from visa-free travel within the Schengen zone.
Costs. The minimum investment is €500,000 in residential or commercial real estate property.
Process. Investors must acquire property and apply through the Spanish consulate or immigration office. The process usually takes 5 months.
Documents required. A valid passport, proof of property investment, a clean criminal record, and health insurance are required.
Requirements. Investors must maintain the property and renew their residency permit every two years. After five years, permanent residency can be obtained, and after ten years, citizenship is possible.
Spain’s Golden Visa is popular among investors due to the country’s warm climate, high standard of living, and access to the European Union. Investors can enjoy the freedom to travel throughout the Schengen Zone without the need for additional visas.
Conclusion
Residency by investment offers high-net-worth individuals the opportunity to secure residency in some of the world’s most desirable countries. Whether it’s the UAE’s tax benefits or Malta’s access to the EU, each country provides unique advantages. Investors can choose a program based on their financial situation, personal preferences, and long-term plans.