Securing residency in the European Union offers a plethora of benefits, including visa-free travel, top-notch education and healthcare, access to thriving economies, and promising job prospects. However, the process of obtaining EU residency can be quite complex and demanding.
Residency by investment, a concept that has gained significant traction over the past decade, involves foreign investors injecting capital into the economy of the host country through various means such as real estate acquisitions, government bond purchases, or business ventures. This influx of foreign direct investment, totalling €25 billion in the EU, has been facilitated by Golden Visa programs implemented by several member states.
Golden Visa regulations differ from country to country, but generally, investors are not required to maintain continuous physical presence in the host nation. Once the stipulated residency requirements are met, investors can then apply for permanent residency or even citizenship.
Greece, for instance, offers an attractive Golden Visa program that grants residency to individuals who invest €250,000 or more in real estate, with the threshold rising to €800,000 in prime locations. A transitional period allows investors to qualify under previous conditions by fulfilling the investment requirements within specified deadlines.
In Greece, there are multiple avenues through which investors can obtain residency, including real estate acquisitions, long-term leases or timeshares of licensed hotels or tourist accommodations, direct investments in the Greek economy (such as company shares, bonds, or fixed deposits), and investments in mutual or alternative funds.
Eligibility for the Greek Golden Visa extends to the investor, their spouse, financially dependent children under 24, and financially dependent parents. This flexibility and inclusivity make Greece an appealing option for those seeking to obtain EU residency through investment.
Malta presents two attractive residency options for investors seeking to obtain a residence permit through investment.
The Malta Global Residence Programme offers a one-year permit that is processed within 3 to 4 months, with the possibility of extension to family members. Eligible family members include a spouse, dependent children under 25, siblings, and service personnel.
Participants in this program are required to either buy or rent property, with rental costs ranging from €8,750 to €9,600 annually and property purchase costs ranging from €220,000 to €275,000. Additional expenses include an administration fee of €6,000, health insurance costs of approximately €500 per year, and an income tax obligation of at least €15,000 annually.
On the other hand, the Malta Permanent Residence Programme offers lifelong residency to non-EU, non-EEA, and non-Swiss citizens. Participants in this program are required to invest in real estate, pay state fees, and make charitable donations, with a minimum capital investment of €500,000, including €150,000 in financial assets.
The total expenses for obtaining permanent residence in Malta through investment range from €150,400 to €370,800, covering either rent or property purchase. In the case of property purchase, the real estate must be held for a minimum of five years before it can be sold, allowing for a partial return on investment.
Eligible family members under this program include a spouse or partner, children under 18, unmarried children over 18 who are primarily dependent on the main applicant, and dependent parents or grandparents.
Regardless of the specific country chosen, acquiring a European residence permit offers a wide array of advantages, including:
Obtaining a European residence permit opens up a world of opportunities and benefits that can greatly enhance one's quality of life and future prospects.
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