The demand for residence and citizenship by investment programs is closely linked to the fluctuations in global politics and economics. As geopolitical tensions among world leaders escalate, we are likely to see an increased interest in investment migration solutions.
Newly elected leaders' decisions regarding fiscal, monetary, and foreign policies will have significant impacts on affluent individuals and investors. In 2024, demand is expected to exceed current record levels as more high-net-worth individuals seek to diversify their portfolios with residence and citizenship programs to mitigate risks from these shifts in power.
Investment Migration Programs 2024 Report
The Investment Migration Programs 2024 report includes two indexes: the Global Residence Program Index and the Global Citizenship Program Index. These tools are invaluable for wealthy families exploring residence and citizenship programs based on factors such as quality of life, time to citizenship, investment requirements, compliance, tax, global mobility, and reputation.
Portugal's Golden Residence Permit Takes First Place
Despite significant changes in 2023 to the non-habitual tax residence scheme and the closure of the real estate route for golden visa investors, Portugal remains the leading residence by investment program overall.
There has been a noticeable shift from real estate to more sophisticated investment routes, such as private equity and venture capital funds, to qualify for the Portugal Golden Residence Permit Program. These funds offer greater diversification opportunities, are highly regulated, and have lower ongoing costs compared to real estate investments.
With a starting price as low as EUR 200,000 under the donation option, the Portugal Golden Residence Permit Program provides access to a premier European wealth hub, boasting modern infrastructure, high quality of life, and top-tier medical and education institutions. A key advantage of this program is that significant physical presence is not required to apply for Portuguese citizenship, making it an attractive option for investors with long-term plans to obtain top-tier citizenship while managing their professional and personal endeavors elsewhere.
European Real Estate-Linked Residence Continues to Attract Investors
Real estate remains a popular choice for Greece Golden Visa Program investors, although it is not the only qualifying investment route. Greece offers a unique Mediterranean charm, high longevity scores, and an affordable cost of living. The introduction of a new tiered investment framework has led to increased demand for this residence program, which ranks 2nd on the Global Residence Program Index. Investments range from EUR 250,000 to EUR 800,000, depending on the property's location.
Spain's Residence by Investment Program, ranking 5th, also offers various investment options starting from EUR 500,000. Many investors from the US, UK, and UAE prefer the real estate route for the security it offers. This program grants visa-free access to Europe's Schengen Area and ensures a swift processing time of one to two months, a significant advantage over other residence programs.
Cyprus: The Most Cost-Efficient Investment Option
Cyprus offers one of the most cost-efficient investment options among the EU's golden visa programs, making it an attractive choice for investors worldwide. The Cyprus Golden Visa program requires a minimum investment of €300,000 in real estate, and it is open to all nationalities. This program stands out due to its fast processing time, with residency permits typically granted within two months.
Applicants must invest in first-time sale residential properties, ensuring they are new and purchased from the developer. The program also allows the inclusion of the applicant's spouse, children under 25, and the parents of both the main applicant and spouse, covering a wide range of family members. The benefits of the Cyprus Golden Visa include access to excellent healthcare and education systems, visa-free travel within the European Union, and the possibility of applying for citizenship after seven years of residency.
Traditional Wealth Hubs in Europe
Italy has long been a favorite for wealthy families seeking the "la dolce vita." Its Residence by Investment Program, ranking 4th, ranges from EUR 250,000 to EUR 2 million. Like Portugal, it enhances global mobility, allowing ease of travel within Europe's Schengen Area. Though physical presence is not mandatory, some permit holders choose to relocate. Eligible residents can pay a one-off tax of EUR 100,000 if fiscally domiciled in Italy with foreign income, an attractive incentive for high-net-worth individuals.
Austria's Private Residence Program, sharing 2nd place with Greece, offers a high-quality lifestyle, top-tier education, and business opportunities. With a minimum financial requirement of EUR 40,000 in liquid funds, application processing takes one to three months.
Entrepreneurship as a Driving Force for Investment Migration
The evolving work landscape, accelerated by the adoption of artificial intelligence and blockchain technology, has led to a rise in entrepreneurial careers, driving demand for business-focused investment migration solutions.
Canada's Start-Up Visa Program, ranking 5th on the Global Residence Program Index, attracts innovative thinkers to the nation's business ecosystem. Business-minded investors can choose from business incubation (no minimum investment required), raising CAD 75,000 from an angel investment group, or raising CAD 200,000 from a venture capital fund.
In Europe, London remains a top choice for business owners seeking residence abroad. The UK Innovator Founder Visa welcomes experienced entrepreneurs with viable, scalable, and innovative business plans.
Switzerland's Residence Program, ranked 3rd, aligns with business people seeking to reside in a global innovation center. Swiss residence permit holders can network with private investors and interact with market leaders, opening doors to more business opportunities across the continent.
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