Getting Residency by Investment: 4 Countries to Consider

If you are considering the idea of getting out of your home country and obtaining residency somewhere new, consider looking into countries that offer residency by investment programs.

The link between making investments and getting a residency is becoming stronger as investors invest in countries where they can become residents. If you want to leverage your investments globally, now is the best time to get the protection of residency in the country you want to live and invest.

Here are four of the best countries to get your residency, along with the investment options they offer.

1. Portugal

Besides having the best climate in Europe, Portugal also has a relatively low cost of living and incredible tax benefits, making it one of the most preferred countries for people looking to obtain new residency. 

The country’s residency program is Europe’s most popular scheme among investors because of its benefits and flexibility. Also known as the Golden Residence Permit, the Portugal Residency program was launched in 2012 and has been promoted by the Portuguese government since.

An investment of €350,000 to €500,000 in Portuguese real estate allows you to gain residency, which you can renew every two years. And the best part? You don’t have to reside in Portugal. Instead, you only need to visit the country for two weeks every two years.

The reduced investment option allows you to get the golden visa by investing €350,000 into a property requiring renovation. However, the Serviço de Estrangeiros e Fronteiras or SEF must approve these projects as eligible for the reduced amount.

Once you are granted a Portuguese residency card, you can live, study, and work anywhere in the European Union as well as travel visa-free to more than 170 countries, including the EU Schengen zone.

2. United Kingdom

The United Kingdom offers a business-friendly environment to trade, expand, and invest in. It offers a range of tax reliefs, providing flexibility to both domestic and international businesses. And with its flexible and transparent governance and law, doing business in the UK is simple and straightforward.

If you want to invest in UK government bonds, loan capital, or share capital to become a UK resident, the Tier 1 Investor Visa is a good option. 

This investment route requires you to commit at least £2,000,000, which you should maintain for five years. After that, you can get an Indefinite Leave to Remain. Should you wish to accelerate the option for your Indefinite Leave to Remain for three or two years, you must invest a minimum of £5,000,000 or £10,000,000 respectively.

But if you want to establish a business in the UK, you can get any of the following new visas:

• Innovator Visa – This is granted to foreigners who propose an original business project, provided that any UK authorized organization also approves it. This investment option does not have any minimum amount requirement, but it entails an application fee of £1021 for each applicant. This visa is issued for three years, which can be reviewed afterward for an unlimited number of times. Those who want to obtain permanent residency must reside in the country for three years.
• Start-up Visa – This is suited for investors who want to start an innovative business in the UK approved by one of the country’s universities or business organizations supporting entrepreneurs. It does not require any minimum investment amount but has an application fee of £363 per applicant. The visa is valid for two years. Should the investors wish to stay longer in the country, they can get an Innovator Visa.

Important note: The UK has stopped accepting applications for Tier 1 Entrepreneur Visa since January 2021. Instead, it has introduced the Innovator Visa and Start-up Visa. For those who obtained an Entrepreneur visa, you don’t have to apply for any of the new visas. Instead, you are given the right to extend your residence permit for another two years or apply for a residence permit under the preceding rules.

3. Greece

The idea of living in Greece is attractive for most expatriates. Greece is known for its detailed history, good year-round climate, unique culture, and beautiful architecture.

The Greek Golden Visa program was launched in 2013, offering applicants a five-year residence permit in exchange for a minimum real estate investment of €250,000 (excluding VAT). Holders can renew their permits as long as they continue to hold their property.

The property can be commercial or residential and must be located on the mainland or any of the islands. You can invest in multiple properties to make up the €250,000 minimum requirement. Joint buyers may also combine investments into a single property.

During the validity of their residence permit, investors can sell the property to a foreign citizen applying for permanent residency. But to do so, they must forfeit their residence permit.

4. Canada

Canada is among the world’s best countries to live in. It is famous for its clean environment, outstanding infrastructure, high standard of living, and low crime rate.

Canada’s Provincial Nominee Programs for entrepreneurs is an attractive investment option for gaining a Canadian residency permit. And one of the provinces that welcome newcomers is the Province of Prince Edward. The entrepreneur category wishes to entice investors who want to shell out their money in the province and create jobs for Canadian residents and citizens.

Under the Prince Edward Island Provincial Nominee Program, applicants must invest CAD $150,000 in a business, which they must run while living in the province for at least a year before being nominated. They are also required to live in the province and operate the business until their permanent residence visa is approved.

The decision to get a second residency is often driven by travel or lifestyle issues, along with taxation reasons. 

Some may see this path as an insurance policy that allows them to travel visa-free to other places, while others may consider it as a means to a certain end. Regardless of your reasons, being a resident in another country will help you invest in new markets, boost your passport portfolio, and legally minimize your tax bill.

Though this is not a typical concept for most people, the increasing global demand and the growing number of places offering residency programs indicate that more and more individuals are willing to invest and unlock the benefits of becoming a resident. 

If you are one of them, consider looking into the four countries mentioned above, and make sure to get free consultations from immigration experts. Good luck!