15 Best Countries for Residency by Investment

Residency by investment sits at the intersection of wealth planning, lifestyle design, and risk management. Done well, it gives you a plan B (or plan A) for your family, access to stronger health and education systems, and diversification out of a single tax or political system. Done poorly, it traps capital for years with little mobility gain. I’ve helped HNW families and founders assess these programs for a decade, and the same principles keep coming up: clarity on goals, honest budget planning, and relentless attention to program details that change quickly.

How Residency by Investment Works (and Why People Use It)

Residency by investment (RBI) allows you to obtain a residence permit—often with family—by injecting capital into the host country. The “investment” can be real estate, funds, government bonds, or a business. In some countries, you can qualify via contributions or deposits.

Why people do it:

• Mobility: visa-free access via residence cards (Schengen) or easier visas.

• Lifestyle: education, healthcare, and a safe landing pad.

• Tax planning: some countries have favorable regimes for new residents.

• Pathway: many RBIs offer permanent residency or citizenship after a number of years.

Key trade-offs:

• Liquidity: capital can be locked for 5–7+ years.

• Policy risk: governments tighten or close routes with little notice.

• Compliance: source-of-funds and background checks are non-negotiable.

How to Choose the Right Program (Step-by-Step)

• Define the job to be done

• Do you want EU mobility, a Gulf base with low tax, or North American settlement rights?

• Do you need fast approval, or is citizenship the endgame?

• Set a total budget range

• Distinguish between investable capital (you may get it back) and sunk costs (fees, taxes, contributions).

• Map residency obligations and timelines

• Some programs have no stay requirement; others require real presence for permanent residence or citizenship.

• Align with tax strategy

• Will you be tax resident? If yes, understand local rules and any special regimes before you commit.

• Choose an investment route you actually want

• Don’t buy property or funds you wouldn’t touch in your home market. Make the investment stand on its own merits.

• Prepare for due diligence early

• Bank statements, company registers, tax returns, proof of funds. If the paper trail is messy, fix it first.

• Don’t go it alone

• Use licensed local counsel and a regulated financial intermediary for funds or bonds. Cross-check everything.

1) Portugal

Portugal’s program remains one of Europe’s most flexible, even after real estate was removed in 2023. The emphasis has shifted to job creation, cultural patronage, scientific research, and regulated investment funds.

• Headline routes and minimums:

• €500,000 in a qualifying private equity/venture fund

• €500,000 in research activities

• €250,000 cultural donation (reduced to €200,000 in low-density areas)

• Business incorporation with job creation (varies by plan)

• Timeline: typically 12–18 months from file to residence cards, with occasional backlogs as Portugal reorganized immigration administration.

• Stay: average 7 days per year. That’s one of the lightest in the EU.

• Pathways: citizenship possible after 5 years with basic Portuguese (A2), plus a clean record. Recent nationality law fixes confirm time counts from application in many cases.

• Taxes: you’re not a tax resident unless you spend 183+ days or move your center of life. Portugal’s previous NHR was replaced with a targeted regime; still attractive for certain profiles, but not automatic.

Who it suits: families who want a European foothold without heavy stay requirements and investors comfortable with fund due diligence.

Common pitfalls:

• Chasing “guaranteed” fund returns; capital must be at risk by law.

• Overpaying on fees from unregulated intermediaries.

• Assuming fast citizenship without language or presence.

2) Greece

Greece’s Golden Visa remains popular thanks to lifestyle and Schengen access. Policymakers tightened thresholds in 2024, especially for prime areas and specific property types, while keeping financial instruments as alternatives.

• Headline routes and minimums (subject to regional bands and policy updates):

• Real estate: commonly €400,000–€800,000 in prime zones, with property size and use conditions; check the current regional list before committing.

• Financial assets (unchanged core options): €400,000 in Greek government bonds, company shares/bonds, or a term deposit in a Greek bank.

• Timeline: 3–9 months after a complete file; temporary permits allow stay while processing.

• Stay: no minimum to maintain the visa.

• Pathways: permanent renewals every 5 years while holding the investment; citizenship theoretically after 7 years of actual residence and language integration.

• Taxes: residency triggers tax on worldwide income; otherwise you’re taxed on Greek-source income only. Greece also offers a flat-tax regime for new non-dom residents.

Who it suits: investors wanting Schengen access with a bankable EU asset base (bonds/deposits) or those set on a Mediterranean property—provided the new thresholds work.

Common pitfalls:

• Not verifying property legality, zoning, or whether short-term rentals are restricted.

• Underestimating transaction costs (10–13% all-in on property is common).

• Assuming zero-maintenance property; property management quality varies widely.

3) Spain

Spain curtailed the real estate route in 2024 but still offers investor residence via financial assets or business projects. It’s a great lifestyle choice with strong schools and healthcare.

• Headline routes and minimums:

• €2,000,000 in Spanish government bonds

• €1,000,000 in Spanish shares or a bank deposit

• Business project of “general interest” (jobs, innovation, socio-economic impact)

• Timeline: 2–6 months is typical for an investor visa via consulate, then convert to a residence permit in Spain.

• Stay: flexible; minimal presence historically acceptable, but spend time if PR or citizenship is a goal.

• Pathways: long-term residence after 5 years of actual residence; citizenship usually after 10 years (2 years for many Latin American nationals).

• Taxes: Spain’s “Beckham Regime” can be attractive for new tax residents working in Spain; otherwise high-tax environment. Non-residents taxed on Spanish-source income.

Who it suits: those comfortable with financial instruments or an entrepreneurial plan, and families prioritizing lifestyle in Madrid, Barcelona, Valencia, or the Costa del Sol.

Common pitfalls:

• Confusing the abolished real estate route with current options.

• Banking hurdles for non-residents; plan onboarding early.

• Not planning stays if PR/citizenship is your endgame.

4) Malta

Malta’s Permanent Residence Program (MPRP) is a hybrid: part contribution, part real estate commitment, with rigorous due diligence and a permanent status from the outset.

• Headline costs and commitments (approximate):

• Government contribution: €98,000 if renting, or €68,000 if purchasing

• Property: rent from €10,000–€12,000/year or purchase €300,000–€350,000+ depending on location

• Donation: €2,000 to a Maltese NGO; plus due diligence and admin fees (~€40,000)

• Timeline: 4–6 months to approval in principle for clean files.

• Stay: no minimum; maintain the property and insurance.

• Pathways: permanent residence from day one; citizenship is possible through regular naturalization after several years of genuine residence, but there’s no automatic path.

Taxes: Malta taxes on remittance basis for residents not domiciled; MPRP itself isn’t a tax status, but you may pair it with a separate tax program.

Who it suits: applicants wanting permanent EU residence with defined costs rather than large capital at risk.

Common pitfalls:

• Underestimating scrutiny; Malta’s due diligence is among the toughest in Europe.

• Treating MPRP as a backdoor to fast citizenship; it’s not.

5) Cyprus

Cyprus offers a direct permanent residency for investors, with a light-touch maintenance requirement and strong lifestyle perks.

• Headline route:

• Permanent Residency (Category 6.2): €300,000 into new real estate (plus VAT), or €300,000 into shares of a Cypriot company employing locals, or investment in certain Cyprus funds; plus evidence of foreign income (commonly €50,000+ per year for the main applicant, more for dependents).

• Timeline: often 2–4 months for the fast-track route.

• Stay: visit once every 2 years to keep PR.

• Pathways: citizenship after 7 years of actual residence (and integration), not automatic via PR.

Taxes: attractive non-domiciled regime (no tax on foreign dividends/interest for up to 17 years of non-dom status), 60-day tax residency rule available with conditions.

Who it suits: families wanting permanent status quickly in an English-speaking, common-law influenced EU island with a favorable tax toolkit.

Common pitfalls:

• Buying off-plan without checking developer track record and title deeds.

• Assuming old citizenship-by-investment rules still apply; they don’t.

6) Italy

Italy’s Investor Visa blends prestige with practical options and can pair with the flat tax regime for relocating HNWIs.

• Headline routes:

• €2,000,000 in government bonds

• €500,000 in an Italian company

• €250,000 in an innovative startup

• €1,000,000 philanthropic donation

• Timeline: 3–6 months for a Nulla Osta (pre-approval), then finalize investment after arrival.

• Stay: you need real presence to count years toward long-term EC residence (5 years) and citizenship (10 years).

• Taxes: optional flat tax of €100,000 per year on foreign income for new residents; add-on for family members at €25,000 each.

Who it suits: entrepreneurs and HNWIs who want lifestyle cities (Milan, Rome, Florence) and are ready to spend meaningful time in-country.

Common pitfalls:

• Choosing the startup route without proper diligence; seek co-investors and governance rights.

• Confusing visa issuance with residence accrual—clock starts when you actually reside.

7) Netherlands

The Netherlands offers a straightforward investor residence route at the high end, geared to serious capital and economic value.

• Headline route:

• €1,250,000 investment in a Dutch venture capital fund (registered/regulated) or a Dutch company meeting innovation and economic contribution criteria.

• Timeline: 3–6 months post-application once capital and due diligence are lined up.

• Stay: presence needed to progress to permanent residence at year 5.

• Taxes: globally known for stable legal environment; personal taxation can be high for residents, and Box 3 changes affect wealth income calculations.

Who it suits: investors comfortable with the Dutch innovation ecosystem and regulated fund structures.

Common pitfalls:

• Underestimating the “added value” assessment for direct company investments.

• Confusing fund eligibility; stick to AFM-registered or government-backed vehicles.

8) Luxembourg

Small but mighty, Luxembourg is a AAA-rated financial hub with a clear investor residence framework.

• Headline routes:

• €500,000 in a new or existing Luxembourg company that creates/maintains jobs

• €3,000,000 in an investment/management structure with a real presence in Luxembourg

• €20,000,000 bank deposit with a Luxembourg financial institution (maintained for at least 5 years)

• Timeline: 6–9 months on average.

• Stay: required for PR at 5 years; expect integration steps for citizenship (language A2 spoken).

• Taxes: corporate-friendly environment; personal taxes are moderate to high for residents, offset by quality public services.

Who it suits: families wanting a safe EU base, strong schools, and a conservative risk profile.

Common pitfalls:

• Assuming it’s a “set and forget” deposit—compliance checks are ongoing.

• Failing to budget for relocation costs (housing in Luxembourg can be pricey).

9) United States (EB-5)

The EB-5 Immigrant Investor Program grants a path to a green card through investment and job creation. Recent reforms improved integrity and created set-aside visas for certain projects.

• Headline numbers:

• $800,000 in a Targeted Employment Area (TEA) project via a Regional Center, or $1,050,000 in non-TEA

• Create or preserve 10 full-time U.S. jobs per investment

• Timeline: varies widely—2–5+ years depending on nationality and project category; concurrent filing can allow work/travel authorization if you’re already in the U.S.

• Pathways: conditional green card first, then remove conditions at ~2 years if job creation requirements are met.

• Taxes: U.S. residents are taxed on worldwide income; plan before becoming resident.

Who it suits: those set on U.S. life and willing to accept illiquidity and genuine investment risk in exchange for permanent residency.

Common pitfalls:

• Choosing projects on marketing gloss rather than audited track record and job-creation methodology.

• Assuming principal protection; by law, capital must be at risk.

10) Canada (Quebec Investor Program)

After a long pause, Quebec retooled its investor route with stricter criteria and a staged path. It’s selective but credible.

• Headline criteria (subject to program caps and changes):

• Net worth: ~CAD 2,000,000 legitimately acquired

• Investment: an interest-free placement with a government intermediary (historically around CAD 1,000,000 for 5 years) plus a non-refundable contribution (around CAD 200,000)

• French proficiency and management experience required

• Work permit and physical presence conditions before PR

• Timeline: multi-year, often 2–4+ years from start to PR depending on quotas and processing.

Taxes: Canada taxes residents on worldwide income. Quebec adds provincial layers; benefits include top-tier public services.

Who it suits: French-speaking or willing-to-learn families prioritizing education, safety, and long-term settlement.

Common pitfalls:

• Underestimating the language requirement and interim work-permit stage.

• Believing advisors who gloss over long processing and integration expectations.

11) United Arab Emirates (UAE)

The UAE’s Golden Visa has become the go-to residency for global entrepreneurs and remote UHNW families seeking a zero-personal-tax base with superb connectivity.

• Headline routes:

• 10-year Golden Visa for real estate owners with property value of at least AED 2,000,000 (mortgages often allowed within limits; off-plan from approved developers is possible)

• 5- or 10-year visas for business owners, investors, and specialized talents

• Timeline: 2–8 weeks in most emirates once documents are in order.

• Stay: no strict minimums to maintain status; keep medical and ID renewed.

• Taxes: no personal income tax; VAT is 5%. Corporate tax applies to companies above thresholds.

Who it suits: those wanting a tax-efficient base, access to top-tier infrastructure, and a pragmatic business environment.

Common pitfalls:

• Buying off-plan without checking escrow protections and developer reputation.

• Confusing emirate-specific nuances; Dubai and Abu Dhabi processes differ in details.

12) Qatar

Qatar grants residency linked to property ownership in designated zones, with a threshold low enough to be practical for many.

• Headline route:

• Property ownership in approved areas: residency for the owner and family typically available with property valued around USD 200,000+; higher-value ownership (around USD 1,000,000+) provides enhanced benefits close to permanent residency privileges.

• Timeline: often 1–3 months after property registration and security checks.

• Stay: maintain property and comply with local procedures.

• Taxes: no personal income tax; cost of living can be high.

Who it suits: buyers who genuinely want a Gulf home base and value stability, safety, and world-class infrastructure.

Common pitfalls:

• Purchasing outside eligible zones.

• Overlooking homeowners’ association fees and service charges on high-end buildings.

13) Saudi Arabia (Premium Residency)

Saudi Arabia’s Premium Residency program has expanded with new tracks for investors, entrepreneurs, and property owners, providing long-term status without a local sponsor.

• Headline routes and costs (illustrative):

• Unlimited Premium Residency via one-time fee (commonly cited at SAR 800,000) or annual renewable option around SAR 100,000/year

• Investor/Entrepreneur categories tied to capital commitments and job creation

• Property-owner categories for real estate in approved areas meeting value thresholds

• Timeline: several months with rigorous background checks.

• Stay: flexible; maintain investment or category conditions.

• Taxes: no personal income tax; VAT 15%. Corporate and zakat rules apply to businesses.

Who it suits: investors aligned with Vision 2030 sectors, or families needing sponsor-free Gulf residency with the option to own property and run businesses.

Common pitfalls:

• Underestimating documentation (business plans, audited accounts, source-of-funds).

• Misreading category-specific obligations and renewal triggers.

14) Mauritius

Mauritius offers a straightforward residence-by-property path and a business-friendly ecosystem with a simple tax regime.

• Headline routes:

• Property: invest at least USD 375,000 in an approved scheme (PDS/RES/IRS/Smart City) to obtain a residence permit as long as you hold the property

• Investor Occupation Permit: invest USD 50,000 in a Mauritian entity and meet revenue thresholds (10-year permits)

• Timeline: 2–3 months for clean files.

• Taxes: flat 15% income tax; no capital gains tax on shares, no inheritance tax; extensive treaty network.

Who it suits: retirees, remote professionals, and business owners who want a calm lifestyle, good schools, and an English-French bilingual environment.

Common pitfalls:

• Ignoring build quality and management standards between projects.

• Overlooking currency risks (Mauritian rupee vs USD/EUR).

15) Panama

Panama’s residency options combine territorial taxation with accessible investment thresholds. Recent changes lifted the bar on the fast-track route, but it’s still attractive.

• Headline routes:

• Qualified Investor Program (permanent residency): USD 500,000 in real estate (held for a minimum period), or higher thresholds in securities/bank deposits as set by decree

• Friendly Nations Visa: residency path for nationals of designated countries, typically via real estate (~USD 200,000) or employment; often requires a provisional phase before PR

• Timeline: Qualified Investor can be 30–90 days to an approval in principle; Friendly Nations typically longer with probationary steps.

• Stay: minimal presence to maintain residency cards, but plan for periodic renewals and local ID updates.

• Taxes: territorial system; foreign-source income not taxed for non-resident activities.

Who it suits: entrepreneurs and semi-retirees who value cost-effective living, access to the Americas, and diversified banking.

Common pitfalls:

• Underestimating bank account opening difficulty; choose the right bank and introducer.

• Confusing property valuation vs purchase price in eligibility tests.

Costs You Should Budget For (Beyond the Investment)

• Government fees: application, residency cards, biometrics, often €1,000–€5,000+ per family member depending on country.

• Professional fees: licensed immigration counsel (€5,000–€25,000), notaries, translators, apostilles.

• Taxes and stamp duties: for real estate-heavy programs, add 6–13% of purchase price inclusive of VAT/transfer taxes.

• Ongoing: renewals every 1–5 years, health insurance, local compliance (tax filings even with zero tax).

• Opportunity cost: capital locked and currency risk. Stress-test your plan with a 20–30% FX swing.

Rule of thumb: on a €500,000 investment pathway in the EU, total upfront non-recoverable costs often land between €30,000 and €80,000 for a family of four, depending on country and property vs fund route.

The Application Playbook

• Pre-vetting and structuring

• Sanctions, PEP checks, and tax residency review. If you need a trust or holding company, set it up before you apply.

• Source-of-funds package

• 6–10 years of bank statements for major inflows, company share registers, tax returns, sale agreements, inheritance docs. Present a logical story with timestamps.

• Investment selection

• If fund-based: insist on audited financials, custodian details, independent administrator, and a clear exit policy.

• If property-based: independent valuation, title search, escrow protections, and a conservative rental or exit scenario.

• Submission and biometrics

• Keep copies of everything. Expect follow-up questions. Respond within deadlines.

• Post-approval setup

• Local bank, tax ID, private health insurance, and—if you plan to live—school and lease arrangements.

• Renewal calendar

• Put renewals, police certificate expiries, and health insurance in your calendar. Many clients trip on avoidable lapsed cards.

Common Mistakes (And How to Avoid Them)

• Chasing the cheapest headline number

• The real cost is investment + taxes + fees + risk. Optimize the whole stack.

• Assuming “EU residency” equals easy citizenship

• Citizenship usually demands language and physical presence. If you won’t spend time in-country, calibrate expectations.

• Buying the marketer, not the asset

• Real estate and funds must stand on investment merit. Ask for data rooms, not brochures.

• Ignoring policy volatility

• Spain cut real estate. Greece raised thresholds. Programs close and morph. Move from interest to application decisively once you pick a path.

• Not preparing a clean SOF trail

• Ambiguity kills files. Pre-empt questions by showing money flow clearly.

• Forgetting exit risk

• Who will buy your asset when you’re done? Liquidity varies hugely by market.

• Over-committing to one passport plan

• Diversify options: a Gulf base plus an EU card covers most use cases better than either alone.

Program Watchlist and Policy Volatility

• Hungary: a “Guest Investor Visa” was announced with fund and property options and long-validity residence. Check launch status and final rules before acting.

• Greece and Spain: real estate thresholds and options have tightened; the financial-asset paths remain but watch legislative calendars.

• Caribbean: these are citizenship-by-investment, not residency, but EU/UK visa policy shifts can ripple into due diligence standards globally.

Governments tweak programs in response to housing concerns, compliance findings, or politics. Lock decisions on current law, not rumors, and keep a Plan B if your chosen route changes mid-process.

Matching Profiles to Programs

• Frequent flyers wanting Schengen without moving

• Portugal (fund route), Greece (bonds/deposits), Malta (MPRP).

• Tax-light base with A++ infrastructure

• UAE, Qatar, Mauritius.

• Settlement in North America

• U.S. EB-5 if you’ll live there; Quebec Investor if French and patient.

• Entrepreneur/operators

• Italy (startup/company), Spain (business project), Netherlands/Luxembourg (company investment).

• Property-led lifestyle investors

• Cyprus, Mauritius, Panama (QIP real estate), select Greek regions if thresholds fit.

Realistic Timelines

• Fast track (6–12 weeks): UAE Golden Visa, Qatar property-based residency (post-deed), Mauritius residence by property.

• Mid-range (3–9 months): Greece, Malta, Cyprus, Netherlands/Luxembourg (depending on investment type).

• Long haul (12–36+ months): Portugal (depending on backlog), Spain (business/financial asset route), U.S. EB-5, Quebec Investor.

Build slack into your plan. School calendars and lease renewals often drive hard deadlines—start 6–12 months earlier than you think.

Final Thoughts

The right residency program isn’t the one with the loudest advertising; it’s the one that cleanly solves your mobility, lifestyle, and tax goals with acceptable risk. Begin with the outcome you want in five years—where you’ll spend time, where the kids will study, what your tax footprint looks like—then reverse-engineer the investment and paperwork. If you align those pieces, the residence card becomes a tool, not a trophy, and your capital pulls double duty: protection for your family today and optionality for the future.