In 2024, obtaining a residence permit quickly is a key interest for high-net-worth individuals. Residency by investment provides a fast track to living in Europe, allowing access to the European Union’s benefits.
Albert Ioffe, Legal and Compliance Officer at Immigrant Invest, will explore the best options available for securing a European permanent residency by investment in the shortest time possible.
What is European Residency by Investment
European residency through investment programs allow non-EU citizens to invest in property, businesses, or government bonds in exchange for residency. This type of residency grants access to living, working, and travelling within the European Union. Different countries offer varying investment thresholds and timelines for approval, but the overall process remains efficient for those looking to settle quickly.
The key advantage is the speed. Unlike traditional immigration, which can take years, these programs allow applicants to gain residency in several months. Residency also provides travel freedom, tax benefits, and a route to eventual citizenship. The ability to access healthcare, education, and other public services also makes these programs highly attractive.
Permanent Residency by Investment
Cyprus permanent residency. Investors can secure permanent residency in Cyprus by purchasing real estate worth at least €300,000. Processing time is 9 months, making it one of the quickest ways to obtain permanent European residency.
Cyprus also has a favourable tax system, particularly for retirees and business owners, adding to the appeal.
Malta permanent residency. Malta Permanent Residence Programme (MPRP) requires an investment of at least €150,000 in real estate, the amount depending on whether the property is in a central or rural area.
An applicant can rent a property for at least €10,000 annually in the south of Malta or Gozo or €12,000 in the rest of the country. Alternatively, an investor can purchase real estate for €300,000 in the south of Malta or Gozo or €350,000 in the rest of the country.
In both cases applicants pay an administrative fee of €40,000, and charitable donations of €2,000. They also pay the contribution fee of €58,000 if renting or €28,000 if purchasing property.
The process takes 6 months, and once approved, residents can travel freely within the Schengen Area. Malta’s program is highly sought after for its stability and investment opportunities.
Like Cyprus, Malta offers a permanent residency.
Fastest Residency by Investment Programs
Hungary residency by investment in 5 months. Hungary offers one of the fastest investment residencies. Launched in 2024, the program allowed for investment in fund units of at least €250,000, real estate and donation to an institution of higher learning. This program is designed to attract foreign capital, offering investors and their families a stable base within the European Union.
Also, Hungary’s central location in Europe makes it convenient for business operations and travel across the continent.
Greece residency by investment in 4 months. Greece provides a quick option for obtaining residency by a property investment of €250,000. The Greek Golden Visa program processes applications in about four months, making it one of the fastest routes to residency in Europe.
Greece’s real estate market has been growing, offering strong investment opportunities alongside the residency benefits.
Italy residency by investment in 4 months. Italy offers a residence permit through its investor visa program, which requires a minimum investment of €500,000. Though the process typically takes four months, Italy is known for its lifestyle benefits and access to the broader European market.
This program is ideal for those who seek residency in a country with excellent business opportunities.
Spain residency by investment in 5 months. Spain’s Golden Visa program allows for residency with a real estate investment starting at €500,000. Processing takes around five months. Spain’s program is popular for those who seek quick access to European residency and eventual citizenship. Spain also offers high quality healthcare, education, and a high quality of life, making it a preferred destination.
How to Apply for the Fastest Residence Permit
The application process for residency by investment varies slightly between countries, but generally follows a similar path:
- Choose your investment. Decide whether to invest in real estate, a business, or government bonds, based on the country and program.
- Prepare the necessary documents. Common documents include proof of investment, a valid passport, background checks, and proof of sufficient financial means.
- Submit your application. Applications are usually processed by the immigration authorities or special government bodies managing the investment programs.
- Wait for approval. Processing times range from four twelve months. Faster countries include Greece and Italy.
- Obtain residency. Once approved, you will receive your residency permit, which allows you to live and travel within the respective country and often the Schengen Area.
Conclusion
Securing a fastest residence permit in 2024 is achievable through investment in European countries like Cyprus, Malta, Portugal, Greece, Italy, Spain, and Hungary. By choosing the right investment option, you can enjoy the benefits of European residency in just a few months.
