- January 7, 2019
- Posted by: administrator
- Category: Blog
International borders are being smudged, allowing individuals to move freely, invest, and reside in more than one country. It gives individuals a chance to get the best of both countries.
Various countries in the European Union are allowing foreign citizens to invest their way into residency. However, you should know up front that you will need a substantial amount of money. From all the Schengen states, we will keep it down to these five:
- Portugal
A majority of people are qualifying for residency in Portugal either by transferring € 1 million into a Portuguese bank or investing € 500,000 into real estate. However, you can also invest € 500,000 into a qualifying small business. Or start a company that will employ ten people full time. There is no minimum investment required for this clause, but it must remain running for six years.
Portugal doesn’t have physical presence requirement, so you can invest in any property, whether it is rental, commercial, industrial or residential. To keep up your residency, all you need to do is spend a couple of weeks a year in Portugal. You can spend the rest of your time in Europe or abroad. Portugal allows you to live and work anywhere in the EU.
- Spain
An investment of €500,000 in real estate can get you and your family a residency in Spain. The visa can be renewed every two years. After five years, you are eligible to apply for permanent residency and after ten years, citizenship. You don’t have to live in Spain to retain and renew the residency visa permit.
- Greece
This country offers the cheapest residency investment program available in the EU. Greece requires an investment of just €250,000 in real estate for which it grants a five-year residency visa. If the property is retained, then the visa is renewed for another five years. It has flexible rules. There is no minimum stay requirement, and it is not necessary to live in the country to validate the visa or renew it. After seven years of residency, you will be granted citizenship. This includes children up to the age of 21 are included in the application.
- Cyprus
Cyprus offers two programs, one for permanent residency and one for citizenship. The residency programme requires an investment of €300,000 in real estate. But for citizenship, you need to invest €2 million. In return, you get a residency permit within 2-6 months.
Both the programs allow flexibility for all the family members, allowing parents, grandparents, and children up to the age of 25 to reside with the applicant.
- Ireland
You can invest €1 million into a new or existing Irish business for three years. Or you can place the same amount in an investment fund that supports Irish projects and enterprises. Another option is to invest €2 million in real estate.