The Wealthy Are Moving

DUNYA VATANDASLIGI:

WORLD CITIZENSHIP

Investment Migration Countries

A growing number of countries host residence and citizenship by investment programs (also known as golden visa programs) that offer a variety of attractive investment options designed to cater to each family’s unique requirements. In an unsettled, ever-changing world, wealthy individuals need a plan B for themselves and their families — one that offers them a safer place to live in times of crisis, while also providing them with greater access to global business and lifestyle opportunities.

Investing in different residence and/or citizenship options worldwide offers both short-term value and long-term yield. The more access you have, the more diversified your assets and the lower your exposure to regional and global volatility.

Austria

Austria is one of Europe’s wealthiest countries, offering a very high quality of life to its people. With awe-inspiring natural attractions and a well-developed and stable economy, Austria makes for an outstanding place of residence.

Austria Citizenship by Investment

As a citizen of Austria, you can live and work in the country and anywhere else in the EU at any time.

The Austrian passport has an excellent reputation and offers very comprehensive visa-free or visa-on-arrival travel, including visa-free access to the USA. It is without a doubt among the best travel documents in the world.

When you acquire citizenship under the Austrian Citizenship Act, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent.

Requirements of Austria citizenship by investment

Under the citizenship by investment provisions, an applicant is required to invest actively in the Austrian economy, for example in the form of a joint venture or direct investment in a business that creates jobs or generates new export sales. Significant direct investment is generally required. Passive investments in government bonds or real estate, for example, do not qualify.

In addition to standard documentary requirements (such as passports, birth, and marriage certificates), a completely clean personal record (certificate of no criminal record), a comprehensive CV, and business background information, as well as impeccable references must be provided by all applicants.

The Austrian Citizenship Act generally requires the applicant to abandon their current citizenship as a precondition for being granted Austrian citizenship. However, in case of a grant of citizenship under the provisions of Article 10 (6) of the Citizenship Act, the former citizenship can be legally maintained, that is, the applicant may not be required to give up their present citizenship.

Austria citizenship by investment procedures and time frame 

The grant of citizenship on the basis of a capital contribution involves various procedures and requires government approval at several levels. It is therefore essential that the applicant is properly advised from the beginning, that each individual case is carefully prepared, and that informal approvals from the key ministries are obtained before the investment is made and the formal application process is started.

The average time frame for an application is 24–36 months. Successful applicants receive full citizenship of the Republic of Austria by decision of the Government of Austria and can apply for a passport immediately afterwards. Passports are issued within a few days.

The grant of citizenship is not published and not reported to any other country, as it falls within the government provisions relating to privacy or official secrets.

Performance guarantee

The granting of citizenship is at the sole discretion of the Government of the Republic of Austria, and we are unable to guarantee that applications will be approved. However, great care has been taken to provide the best possible safeguards for persons entering the application process. 

Malta

Situated in the center of the Mediterranean Sea, Malta enjoys an excellent reputation for its splendid climate, friendly people, low crime rate, and superb quality of life. 

Maltese Citizenship by Naturalization

The Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment process allows for the granting of citizenship by a certificate of naturalization to foreign individuals and their families who contribute to the country’s economic development. This is possible following a 36-month (or, by exception, 12-month) residence period. Each application is subject to a stringent due diligence process, including thorough background checks. Community Malta Agency is the competent Maltese Government Agency responsible for administering the regulations. 

Benefits of Maltese citizenship

Visa-free or visa-on-arrival travel to 185 destinations

Access to a transparent and reputable financial centre and a prime jurisdiction for international business

World’s strictest due diligence standards and vetting of applicants, thus ensuring only highly respectable applicants

An attractive place to live or own a second home in, strategically located with excellent air links

Requirements of Maltese citizenship by naturalization

The application for Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment is thoroughly checked and assessed and undergoes a four-tier due diligence process. To qualify, the following requirements must be fulfilled:

A minimum age of 18 years for all applicants

A contribution of at least EUR 600,000 for a minimum residence period of 36 months or EUR 750,000 for a minimum of 12 months

The purchase of a residential property in Malta of at least EUR 700,000, which must be held for five years. Alternatively, the lease of a residential property with a rental value of at least EUR 16,000 per annum, also held for five years. Please note that the property cannot be sublet during this five-year period. A 36-month (or 18-month, by exception) lease agreement or property purchase is required during the residence period

A donation of at least EUR 10,000 to a registered sport, cultural, scientific, philanthropic, animal welfare, or artistic non-governmental organization or society, as approved by the Community Malta Agency

Legal residence of Malta for at least 36 months (or 12 months, by exception), which includes the lease of a residential property with a rental value of at least EUR 16,000 per annum, held for that same period. Applicants require a valid residence card in order to apply for citizenship

Procedures and time frame

Applications must be made on the prescribed forms and be accompanied by the appropriate fees and specific documents. Highly detailed due diligence checks are carried out and an application will be declined if it turns out that it contains false information or omissions.

If the Tier 1 due diligence checks completed by the Community Malta Agency are passed, the application for a residence permit will be submitted. After residence has been obtained, an eligibility application will be submitted and further (tiers 2, 3, and 4) due diligence checked will be made by the agency and presented to the relevant Maltese minister, who will decide on the applicant’s eligibility to apply for citizenship.

If successful, a citizenship application will be submitted to the Community Malta Agency after 36 months of residence (or 12 months by exception). After the minister has decided if the applicant can be granted Maltese citizenship, the successful applicant will then be required to fulfil the exceptional investment, donation, and property requirements. Thereafter, the applicant will be invited to take the oath of allegiance in Malta and be presented with a Maltese certificate of naturalization.

The Community Malta Agency will conduct continuous monitoring for five years.

Dual citizenship

There are no restrictions on dual citizenship in Malta.

Montenegro

Situated on the Balkan Peninsula in Southeastern Europe, Montenegro is known for its magnificent and unparalleled natural beauty. Emerging as a sovereign state in 2006, Montenegro is a member of NATO, uses the euro as its currency, and is an official candidate country for EU membership.

Montenegro Citizenship by Investment

The Montenegro Citizenship by Investment Program was launched by the Government of Montenegro as part of its ongoing efforts to attract foreign direct investment and increase economic activity in the country.

The Montenegro Citizenship by Investment Program requires applicants to make a defined economic contribution to Montenegrin society through an investment in an approved development project, and a capital contribution to a fund designated by the government for the advancement of under-developed areas. In exchange, and subject to a stringent vetting and due diligence process, including thorough background checks, applicants and their families are granted citizenship.

Benefits of the Montenegro Citizenship by Investment Program

Visa-free or visa-on-arrival access to 123 destinations including Europe’s Schengen Area, Russia, and Türkiye

Citizenship in a country that is an official EU candidate country

Citizenship in a multinational and multilingual European community that enjoys a mild Mediterranean climate, beautiful scenery, and a low cost of living

Citizenship in a member state of the European Monetary Union, the NATO Alliance, OSCE, and the WTO

Full citizenship granted to the applicant and family members

Investment in a development project operated by a renowned hotel brand

Requirements of Montenegrin citizenship by investment

To qualify for the Montenegro Citizenship by Investment Program, the main applicant must be over 18 years of age, meet the application requirements, and make the qualifying contributions to the Government of Montenegro. There are two routes to choose from to qualify for the program:

An investment of EUR 450,000 to development projects in the capital of Podgorica or in the coastal regions

An investment of EUR 250,000 to development projects in northern or central Montenegro, excluding Podgorica

In addition, there is a government fee of EUR 200,000 per application. This contribution will be directed to a special fund for the advancement of underdeveloped areas (EUR 100,000) and towards the Innovation Fund of Montenegro (EUR 100,000).

Procedures and time frame of the Montenegro Citizenship by Investment Program

All applications are submitted through intermediary agents such as Henley & Partners, which have been officially accredited to the Government of Montenegro for this purpose. Once received by the relevant government department, applications are processed within eight to ten months.

Dual citizenship

Successful applicants to the Montenegro Citizenship by Investment Program are exempt from the country’s restrictions on dual citizenship stipulated in Article 8 of the law on Montenegrin citizenship. Article 12 of the law states that citizenship may be exceptionally granted to individuals on the basis of special contributions (such as economic interest) to the country, which applies to successful program applicants.

North Macedonia

Located in Southeast Europe, the Republic of North Macedonia is surrounded by picturesque rivers and scenic, lush mountainous areas. Its growing economy and excellent agriculture and trade opportunities are attractive to investors and businesspeople. The people of North Macedonia enjoy a culturally rich lifestyle influenced by the arts and local tradition as well as a civil law system.

The North Macedonia Citizenship by Investment Program

Located in Southeastern Europe, North Macedonia has a strategic geographic location — prospective investors are in a key position to benefit from the nation’s status as a major transportation route across Europe. For those who would like to become citizens of this growing European economy, the North Macedonia Citizenship by Investment Program is the most efficient way to acquire such status. The government welcomes wealthy and talented foreign individuals who are able to make a significant, qualified investment into the country that would boost the economy through foreign direct investment. Under this program, individuals can become citizens of North Macedonia within five months.

Benefits of the North Macedonia Citizenship by Investment Program

Visa-free or visa-on-arrival access to 125 destinations

Citizenship applicable to individuals aged 18 and older. Dependent children under 18 can apply for citizenship by descent once both or one of their parents has received citizenship

Citizenship can be passed down to future generations

Access to a strategically positioned trade market

Citizenship of a European upper-middle income country with a friendly and hospitable culture and a favorable tax environment

No minimum residence period or language requirement to obtain citizenship

Citizenship of a country that recently acquired NATO membership and is an EU candidate

Access to a highly qualified workforce and fast company registration systems

Requirements of North Macedonian citizenship by investment

The North Macedonian Citizenship by Investment Program requires that a foreign individual invests EUR 200,000 or EUR 400,000 under one of the following two investment options:

Option 1:

EUR 200,000 per adult applicant for a period of at least two years in a private investment fund established in accordance with the laws of the Republic of North Macedonia, to be eligible to apply for citizenship

Option 2:

EUR 400,000 per adult applicant as a direct investment in new facilities (except for those in hospitality meant for restaurants or shopping), employing at least ten people for an indefinite period of time in a period of at least one year

The following documents are required:

Police certificates of clearance

Detailed curriculum vitae (CV)

Proof of financial standing

Procedures and time frame of the North Macedonia Citizenship by Investment Program

Applications for North Macedonian citizenship must include completed application forms and should be accompanied by the appropriate fees and supporting documents. The required documents include birth and marriage certificates and a signed prospectus and share redemption documents of the government-approved fund. The program is under the direct and close monitoring of the Fund for Innovations and Technology Development of the Republic of North Macedonia.

The following application steps apply:

Initial due diligence checks completed

Client agreement signed and retainer paid

Requirements fulfilled

Application for North Macedonian citizenship submitted to the government

Application approved

Full citizenship received.

Türkiye

Türkiye is a major transcontinental country strategically positioned and bordered by three seas. A popular tourist destination, Türkiye’s location facilitates connectivity with key markets via excellent transport links. Although Ankara is its capital, the leading global city of Istanbul is Türkiye’s largest and is its main commercial and cultural center.

Türkiye Citizenship by Investment

The Türkiye Citizenship by Investment Program (previously named the Turkey Citizenship by Investment Program) was launched in January 2017 to attract foreign direct investment to and boost growth in the country’s real estate sector. The program allows applicants to choose from a number of different types of economic contributions to Turkish society, thereby developing the country’s economy.

With the city of Istanbul embracing Europe and Asia on the Bosphorus Strait, Türkiye is a transcontinental Eurasian country. Its location at the crossroads of Europe and Asia makes it a country of significant geostrategic importance.

Benefits of the Türkiye Citizenship by Investment Program

Visa-free or visa-on-arrival access to 110 destinations including Hong Kong, Japan, and Singapore

Citizenship of a country that enjoys a mild Mediterranean climate, beautiful scenery, and a high standard of living

Full citizenship granted to the applicant and included family members

Eligibility for an E-2 Investor Visa in the USA for a five-year renewable period

Access to a transcontinental Eurasian country that is a stable economic, financial, and political hub between Europe, Western Asia, and the Middle East

Requirements of Türkiye citizenship by investment

To qualify for citizenship, the main applicant should fulfil one of the following investment requirements:

Acquire at least USD 400,000 worth of real estate

Invest a minimum of USD 500,000 fixed capital contribution

Deposit at least USD 500,000 or equivalent foreign currency or Turkish lira into a Turkish bank account

Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into government bonds

Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into real estate investment fund share or venture capital investment fund share

Commit at least USD 500,000 or equivalent foreign currency or Turkish lira into a private pension system for a minimum holding period of three years

Create jobs for at least 50 people, as attested by the Ministry of Family, Labour and Social Services

The main applicant may include their spouse, dependent children below the age of 18, and children of any age who are living with disabilities in their application.

Procedures and time frame of the Türkiye Citizenship by Investment Program

After applicants have chosen the qualifying investment option, a residence permit application shall be made on the family’s behalf. The main applicant is then required to open a bank account in Türkiye.

Once all application documents have been prepared (including applicable certifications and translations), the investment can be completed and the documents submitted to the government. Once the application has been received by the government, the review process will begin and an interview may be requested. Applications are typically approved within 120 days, following which the citizenship documents are issued. The passport application can then be submitted. 

Cyprus

With its beautiful beaches and tropical Mediterranean climate, Cyprus is considered an ideal destination for permanent residence for non-EU nationals.

Cyprus Permanent Residence Program

In line with the Cypriot government’s intention to increase foreign investment and to help its economic development, Regulation 6(2) of the Aliens and Immigration Regulations has recently been simplified by the Ministry of Interior in order to issue residence permits to applicants from non-European countries who intend to invest in the republic, provided that the following requirements are met:

The main requirement is one of the following investment options:

Purchase of new immovable property of a total market value of at least EUR 300,000 plus VAT. The applicant must submit the application form accompanied with a contract of sale and proof of payment of at least EUR 200,000 plus VAT. The contract of sale must have been submitted to the Cyprus Department of Land and Surveys. The property can also be bought by a company provided that the company is registered in the name of the applicant or the applicant and their spouse. They must also be sole shareholders.

Purchase of up to two new or used immovable non-residential properties (offices, shops, hotels, or other developments) of a total market value of at least EUR 300,000 plus VAT

Share capital of EUR 300,000 of a physical company registered and operating in Cyprus, which employs at least five people

Units of EUR 300,000 in the Cyprus Investment Funds Association’s collective investments (AIF, AIFLNP, RAIF)

The applicant must provide supporting evidence of a secured annual income of at least EUR 30,000 deriving from abroad. This income must increase by EUR 5,000 for the spouse and every additional child and EUR 8,000 for each dependent parent. The income may include, for example, salaries from employment, rents, pensions, and dividends from shares.

Procedures and time frame of the Cyprus Permanent Residence Program

A fee of EUR 500 is payable with the submission of the application and EUR 50 extra for biometric capturing. The application will then be examined by the Civil Registry and Migration Department and will be submitted to a permanent secretary of the Ministry of Interior, who will make a decision within two months. Once approval has been granted, the applicant and all the members of the family must visit Cyprus within one year to obtain the actual permit.

When in Cyprus, a visit is organized to the migration office in Nicosia in order to capture the biometric data for all members of the family applying. The biometric data can be submitted either with the submission of the application for residence, during the application process, or immediately after approval.

Benefits of Cypriot residence by investment

The application procedure is highly efficient, within two months

There is a high approval rate if all criteria are satisfied

It is not necessary to reside in Cyprus, but a visit once every two years is required

Dependents can be enrolled in high-quality private schools, offering English language courses

Residence applies to the main applicant's spouse, children under 25 years, parents, and parents-in-law for a Regulation 6(2) application, and to a spouse and children under 18 years for a Category F application

Dependent children between 18–25 and parents of the applicant are also eligible

The whole process can be arranged without being present in the country. However, a visit is required for biometric capturing.

Greece

As a member state of the EU, Greece offers its residents and citizens a number of reassuring benefits including high levels of safety and security, excellent education opportunities, robust healthcare options, and a dependable rule of law.

Key advantages of the Greece Golden Visa Program

Visa-free travel within Europe’s Schengen Area

No requirement to reside in Greece

Residence permits can be acquired within 30–60 days

Unlimited expiry date of residence permit

Opportunity to rent out the investment property

Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse)

Eligibility to apply for citizenship after seven years of residence

Ability to hold shares and receive income from the dividends of a company registered in Greece (but not to be employed in Greece)

Requirements of the Greece Golden Visa Program

The Greece Golden Visa Program is a residence by investment program launched in 2013 that enables non-EU nationals and their family members to obtain permanent residence permits in Greece. The residence permits may be renewed every five years.

The program’s qualifying options are:

Real estate options

An investment in real estate property with a minimum value of EUR 250,000, plus the applicable taxes

A 10-year lease agreement for hotel accommodation or furnished tourist residences in tourist accommodation complexes (Article 8 of Law 4000/2001)

A 10-year time-sharing agreement for hotel accommodation (Law 1652/1986)

Other options

CAPITAL CONTRIBUTION

A capital contribution with a minimum value of EUR 400,000 to a company that has its registered office or establishment in Greece (with the exception of portfolio investment companies and real estate investment companies) for the acquisition of shares in a share capital increase or bonds that are, at the time of issue, admitted for trading on regulated markets or multilateral trading mechanisms that operate in Greece

A capital contribution with a minimum value of EUR 400,000 to a real estate investment company (Article 21 of Law 2778/1999) that will invest exclusively in Greece, for the acquisition of shares in a share capital increase

A capital contribution with a minimum value of EUR 400,000 to a closed-end investment company (Article 5 of Law 2367/1995) for the acquisition of shares or to a closed-end mutual fund (Article 7 of Law 2992/2002) for the acquisition of shares, provided that the aforementioned alternative investment institutions have the intention to invest exclusively in companies that have headquarters or establishments in Greece

SHARES, BONDS, AND/OR GOVERNMENT BONDS

Purchase of Greek government bonds with a minimum acquisition value of EUR 400,000 and residual maturity of at least three years at the time of purchase, via a credit institution established in Greece, which will also act as the custodian of these bonds

Purchase of shares or corporate bonds with a minimum acquisition value of EUR 800,000, which are admitted for trading or are traded on regulated markets or multilateral trading mechanisms, operating in Greece

Purchase of units with a minimum value of EUR 400,000 of a mutual fund incorporated in Greece or another country and with the intention to invest exclusively in shares, corporate bonds, and/or Greek government bonds that are admitted for trading or are traded on regulated markets or multilateral trading mechanisms, operating in Greece

Purchase of units or shares with a minimum purchase value of EUR 400,000 of an alternative investment fund established in Greece or another country of the EU, which intends to exclusively invest in immovable property in Greece

CAPITAL TRANSFER

Term deposit of a minimum value of EUR 400,000 to a domestic credit institution, for at least one year, with a standing order for renewal

Procedures and time frame of the Greece Golden Visa Program

Step 1: Visit Greece

Step 2: Choose the preferred property

Step 3: Submission of the application

Step 4: Final verification

Malta

Situated in the center of the Mediterranean Sea, Malta enjoys an excellent reputation for its splendid climate, friendly people, low crime rate, and superb quality of life. An attractive place in which to live or own a second home, Malta also has excellent air links.

The Malta Permanent Residence Programme

Malta is a very attractive location for private residence. The island nation enjoys a stable political climate and is strategically located, with excellent air links. The Malta Permanent Residence Programme offers non-Maltese persons the possibility of acquiring a European residence permit in an EU country and visa-free travel within Europe’s Schengen Area.

Benefits of Maltese residence by investment

Residence in an EU country and visa-free across Europe’s Schengen Area

Right to reside indefinitely in Malta

Investment required only for first five years

No residence requirement

Family members included

Requirements of the Malta Permanent Residence Programme

The main applicant must be at least 18 years of age to qualify and must provide an affidavit declaring that from the date of the application, they have in their possession capital of no less than EUR 500,000 (EUR 150,000 of which should be in financial assets). The following application requirements must be met to qualify for the program:

A property purchase of EUR 350,000 (EUR 300,000 in South Malta or Gozo), or a property lease of EUR 12,000 per annum (EUR 10,000 in South Malta or Gozo)

A contribution of EUR 28,000 to the Maltese economy if the residential property is purchased, or EUR 58,000 if the property is leased

A donation to a non-governmental organization of EUR 2,000

A non-refundable administration fee of EUR 40,000

Procedures and time frame of residence by investment in Malta

The application requirements and procedures for the Malta Permanent Residence Programme are reasonable and straightforward. The application is submitted to the Residency Malta Agency, the government agency responsible for applications. After stringent due diligence checks, successful applicants will be requested to complete the qualifying investments and will then be issued a residence permit. Residency Malta Agency will issue successful applicants with a Maltese residence certificate, which acts as a permit.

Portugal

Portugal boasts an excellent reputation and is considered one of the world’s most globalized and peaceful nations, with a high quality of life and a very high Human Development Index ranking. It is among the oldest nations in Europe with a rich history, lively culture, exceptional cuisine, stunning beaches, and idyllic countryside.

The Portugal Golden Residence Permit Program

The Portugal Golden Residence Permit Program (commonly known as the Portugal Golden Visa Program) is a five-year residence by investment program for non-EU nationals. The residence permit gives the right to live, work, and study in Portugal and allows free circulation in Europe’s Schengen Area. Furthermore, the program only requires an average of seven days per year stay in Portugal over this period, which can also count towards citizenship eligibility after five years.

Benefits of the Portugal Golden Residence Permit Program

Visa-free travel in Europe’s Schengen Area and the right to live, work, and study in Portugal

Eligibility to apply for citizenship after five years as a legal resident while keeping other citizenship(s)

Low physical presence requirement (seven days during the first year of residence and 14 days for the two subsequent years, which can count towards citizenship eligibility after five years)

Excellent international and Portuguese schools and universities

High quality of life, local cuisine and wines, rich culture, mild climate, and a high level of security

International quality healthcare clinics and hospitals

Requirements of Portuguese residence by investment

Applicants can choose any one option in any of the three categories: capital transfer, property acquisition, business:

Capital transfer

One of the following options:

EUR 1.5 million minimum capital transfer into a Portuguese bank account or approved investments

EUR 500,000 for the acquisition of investment fund or venture capital fund units committed to the capitalization of companies incorporated under the Portuguese law, with a maturity of at least five years and with at least 60% of the investment portfolio in companies with a registered office in the national territory

EUR 500,000 for research activities of public or private entities that are part of the national scientific and technological system

EUR 400,000 in a low population density area*

EUR 250,000 in support of artistic production or in the recovery or maintenance of national cultural heritage

EUR 200,000 in a low population density area*

Property acquisition

One of the following options:

EUR 500,000 minimum real estate purchase (residential property is limited to designated interior areas)

EUR 400,000 in a low population density area*

EUR 350,000 minimum real estate purchase for the refurbishment of residential properties older than 30 years or in an area of urban regeneration, including the cost of renovations (residential property is limited to designated interior areas)

EUR 280,000 in a low population density area*

Business

One of the following options:

Creation of a minimum of ten new jobs

Eight new jobs in a low population density area*

EUR 500,000 for the incorporation or increase of the share capital of a company that is registered in Portugal, creating or maintaining a minimum of five permanent jobs for a period of three years

*A low population density area is defined as less than 100 inhabitants per km2 or with a GDP per capita below 75% of the national average.

Procedures and time frame of the Portugal Golden Residence Permit Program

After the residence permit has been received, the client will need to provide biometric data and updated original documents at each renewal. The first permit is usually issued for one year; however, due to the Covid-19 pandemic, it is now issued for two years. Thereafter, the permit may be renewable for two subsequent periods of two years.

The Portugal Golden Residence Permit Program requires the main applicant to make two trips to Portugal during the application period:

To choose the qualifying investment, start the legal process, and open a bank account

To provide the biometric data and original documents

After the residence permit has been received, the client will need to provide biometric data and updated original documents at each renewal.

The process to acquire a Portuguese residence permit through investment takes over six months.

Spain

Situated in Southwestern Europe, Spain is regarded as one of the world’s most popular holiday destinations. It is a vibrant country admired for its majestic landscapes and excellent quality of life and a nation with a rich history and unique culture and traditions. Spain has one of the most important economies in Europe. It is also a full member of the EU and the Eurozone.

The Spain Residence by Investment Program

Spain is one of the most desirable destinations worldwide and is a highly sought-after location for investors. The country attracts millions of visitors every year with its amazing nature, beautiful beaches, diverse culture, and rich history. For those who wish to reside in this lively country, the Spain Residence by Investment Program is the most efficient way to acquire such status. The Spanish government has allowed for a substantial number of visas for individuals who wish to make a significant, qualified investment into the country that would boost the economy through foreign direct investment.

Under the residence by investment program, individuals and their immediate family members can become residents of Spain (through a temporary residence permit) within less than a month. Subject to general immigration rules and requirements, residents by investment can acquire permanent residence status after five years of continuous residence in Spain, and may gain Spanish citizenship thereafter.

The Spain Residence by Investment Program is ranked 8th out of 26 programs on the 2022 Global Residence Program Index.

Benefits of the Spain Residence by Investment Program

High quality of life

Ability to include a spouse or unmarried partner, financially dependent children of any age (adult children must be full-time students), and financially dependent parents of the main applicant and/or their spouse who are 65 years and older

Access to the public healthcare and education systems in the country

A vibrant EU country that has majestic landscapes

The possibility to apply for Spanish citizenship after two years of effective residence for Sephardi Jews and citizens of Equatorial Guinea, Latin America, and the Philippines, and 10 years for other nationals

Excellent schools, with tuition available in English, French, German, Italian, Japanese, and Mandarin

Requirements of Spanish residence by investment

The Spain Residence by Investment Program requires that a foreign individual invests into either a real estate project, a business project, company shares or bank deposits, or government bonds.

Applicants are required to fulfill one of the following investment options in the country:

The acquisition of real estate with a minimum value of EUR 500,000 (one or several properties)

The creation of a business project to be developed in Spain, duly recognized as being of ‘general interest’

Company shares or bank deposits with a minimum value of EUR 1 million in Spanish financial institutions

A government bonds investment with a minimum value of EUR 2 million

Documentary evidence of the investment must be provided as part of the application process.

Procedures and time frame of the Spain Residence by Investment Program

Applications to the program must be made through the prescribed forms and must be accompanied by the appropriate fees and supporting documents. Residence permits are usually issued after a 20-day consideration period and have an initial duration of two years, renewable for five years upon request, provided that a minimum investment in Spain is maintained by the applicant.

The application process comprises two stages:

In the first phase, applicants apply in their home country for a Spanish residence visa that allows them to reside and work in Spain for one year.

In the second phase, applicants apply for a Spanish residence permit. If they have come to Spain on an ordinary tourist visa, they may apply for the residence permit directly, thus omitting the first phase.

The residence permit applies to the main investor, spouse or partner (including unmarried or same-sex unions), and all economically dependent descendants.

There is no minimum stay requirement to maintain residence status but obtaining the first residence permit requires a visit to Spain.

Citizenship

Residents may apply for citizenship only in their 10th year of residence in Spain. However, Sephardi Jews and citizens of Equatorial Guinea, Latin America, and the Philippines can apply for Spanish citizenship after only two years of effective residence in Spain. Dual citizenship restrictions apply to most foreign nationals.

Canada

Canada is frequently voted one of the best countries in the world to live in. It is well known for its high standard of living, clean environment, low crime rate, and outstanding infrastructure. 

The Canada Start-Up Visa Program

Canada is among the world's wealthiest countries, with a high per-capita income and a leading trade market. The Canada Start-Up Visa Program is aimed at providing permanent residence to entrepreneurs and active investors in companies and expanding businesses that seek to establish a presence in Canada.

Benefits of residence by investment in Canada

High standard of living

Affordable, high-quality education and healthcare

Family included in the application

Multicultural, tolerant, and vibrant cities

Excellent place to do business, with access to the entire North American market

Minimal application requirements, with no age restriction, no net worth, and no higher education needed

Requirements of the Canada Start-Up Visa Program

To obtain permanent residence in Canada, foreign entrepreneurs must fulfill the following requirements:

Create an innovative start-up business in Canada, approved by a designated organization

Have English or French language proficiency at the CLB/IELTS 5 level

Investors are also required to:

Be in good health

Have no criminal record

Procedures and time frame of Canadian residence by investment

Clients are required to prepare and submit a business proposal, which needs to be approved by a government organization. Once approved by a business incubator, the client receives a letter of support, allowing them and their family to apply for permanent residence. The residence permit is valid for an initial period of five years. In order to maintain permanent resident status, physical presence for two out of five years (or 730 days) in Canada is required.

The process takes 12 to 31 months.

Acquiring Canadian citizenship following the Start-Up Visa Program

After three years (or 1,095 days) of permanent residence in Canada within a five-year period, successful applicants can apply for citizenship.

The Canadian passport holds one of the top 10 ranks, with visa-free or visa-on arrival access to over 180 destinations worldwide.

Panama

Strategically positioned between Central and South America, Panama is a global center for international banking. Significant seaborne trade — the result of the Panama Canal, connecting the Atlantic and Pacific oceans — offers investors access to the global commercial goods markets, from the USA to East Asia, Europe, and Oceania.

The Panama Residence by Investment Program

Panama has a well-developed, service-based economy. The government’s residence by investment program is an opportunity for global investors to contribute to the tropical maritime nation’s development while acquiring residence status and the investment opportunities that come with the program. Under this program, high-net-worth individuals can make a contribution to the country and become Panamanian residents in 30 days or four–six months (depending on the investment option chosen), with the possibility to acquire citizenship after five years.

Benefits of Panamanian residence by investment

The right to live, work, and study in Panama

Access to the Central, South, and North American markets

Residence applicable to a spouse, children under 18, children aged 18–25 who are single, fulltime students with no children, children of any age who are physically or mentally differently abled, and parents of any age

The home of the Panama Canal, one of the world’s most strategically placed and used waterway, the chief commodities carried through it being motor vehicles, products and grains, petroleum, and coal

Proximity to Colombia, Ecuador, and Venezuela, allowing for better access to business opportunities with these nations

Requirements of the Panama Residence by Investment Program

To qualify for residence, applicants are required to select one of the following three investment routes:

Qualified Investor

Investments must be held for at least five years to maintain permanent residence status. Additional government fees for the main applicant and dependents apply.

One of the following options:

Real estate investment of USD 300,000 (valid until 15 October 2022, after which the investment amount will increase to USD 500,000)

Stock exchange investment of USD 500,000

Fixed-term deposit of USD 750,000 in the banking sector

Friendly Nations

For citizens of one of Panama’s ‘friendly nations’ 

One of the following options:

Real estate investment of USD 200,000

Employment by a company in Panama for residence by labor reasons

Forestry Investor

Investment in a company that has a forest registry with the Ministry of Environment.

One of the following options:

Real estate investment of USD 100,000

Investment of USD 100,000 in teak reforestation. This option grants two years of temporary residence, after which the applicant can apply for permanent residence

Investment of USD 350,000 in teak reforestation. This option grants immediate permanent residence

Procedures and time frame of Panamanian residence by investment

Applications must include completed application forms and should be accompanied by the appropriate fees and supporting documents, including details and the source (abroad) of the investment funds and the investor’s general data. Depending on the investment option chosen, the following documentation will be required: certificates from the Panama Public Registry, the National Authority of Land Ownership, the Securities House, and a license and/or registration certificate from the Panama Stock Exchange, as well as authenticated copies of the resolution granting the entity keeping the invested securities and a copy of the time deposit certificate.

Once the initial due diligence checks have been completed, then the application can be submitted. After further due diligence checks, the applicant can fulfill the requirements and the application may be approved.

The processing time for the residence application from the submission of the application to its approval is 30 days under the Qualified Investor route, or four–six months under the Friendly Nations and Forestry Investor routes.

The permanent residence permits are issued immediately (subject to review by the National Immigration Service) under the Qualified Investor and Forestry Investor routes, and after two years of holding a temporary residence permit under the Friendly Nations route.

Panamanian citizenship following residence by investment

Successful clients can apply for Panamanian citizenship after five years of residence. Citizens of some Latin American countries and Spain may acquire citizenship after one–three years.

United Arab Emirates

The UAE is a key country in the Arabian Gulf and offers modern infrastructure, transport, and communications systems. The country is an excellent place in which to conduct business, with easy global access. Dubai is the second largest of the seven emirates and ranks as the UAE’s most important international city and financial and commercial center.

UAE Residence by Investment

The UAE is one of the most attractive business destinations worldwide. UAE Residence by Investment is aimed at providing long-term residence to foreign investors, entrepreneurs, and talented individuals including specialists, students, and researchers who make a significant investment to the country.

Benefits of UAE residence by investment

Gateway to Africa and the Middle East, Asia, and Europe due to the country’s strategic geographic positioning

Safe, secure environment

High standard of services and good quality of life

Applicant’s spouse and unmarried children, one executive director, and one advisor may be added at no additional investment

Among the top 30 countries in the world for ease of doing business

Favorable tax regime for investors — with no personal income, capital, net worth, or withholding tax (except for those levied in the domestic banking and oil sectors), and several double-tax treaties in place

Good value from real estate investments

Streamlined, efficient residence permit system

Member state of the United Nations, the Gulf Co-operation Council, and the Arab League

Requirements of UAE residence by investment

To qualify for residence, applicants can select one of the following three options:

Investment fund: 10-year visa

One of the following options:

Minimum deposit of AED 2 million (approximately USD 550,000) into an accredited investment fund in the UAE, with a letter from the fund

Minimum investment capital of AED 2 million (approximately USD 550,000) into a company, with a valid commercial or industrial license

Minimum annual taxes of AED 250,000 (approximately USD 70,000) from a company that the investor owns, with a confirmation letter from the national federal tax authority

Senior employees: 10-year visa

Under the investment fund option above, investors who appoint an executive director or advisor for a period of 10 years may submit a letter allowing their senior employee to also receive a 10-year residence visa. The employee’s spouse and unmarried children may be included in the application

Real estate: Renewable five-year visa

Minimum real estate purchase of AED 2 million (approximately USD 550,000), with a letter from the Dubai Real Estate Registration Department. (An investment of over AED 2 million is required for real estate purchased through a loan)

Procedures and time frame of UAE residence by investment

Applications for UAE residence must include completed application forms and should be accompanied by the appropriate fees and supporting documents. For the investment fund and senior employees options, the residence visas obtained are valid for 10 years. For the real estate option, the visas are valid for five years and can be renewed thereafter.

Once the initial due diligence checks have been completed and the retainer paid, then the application for UAE residence can be submitted to the government.

Once the requirements have been fulfilled, pending initial approval of the application, the successful applicant receives a six-month multiple-entry visa and travels to the UAE to apply for an ID card and undergo a medical check. Thereafter, full approval is granted and the client receives the residence visa.

The processing time for the residence application is three months from the submission of the application to its approval.