Forbes The 7 Best Options for Overseas Residency
In a recent Forbes article, Seven Best Backup Residency Options, it was talked about how Second Residency and Second Citizenship are an important part of an offshore diversification program, and are now more important than ever. There are many offshore residency options available to you. Some countries offer more than a dozen different residency programs, including " digital nomad"passive income" visas, and "passive income" visas, and "passive income" visas. Citizenship by Investment Program" " digital nomadWhile "passive income" and "passive income" visas qualify by proving a minimum monthly income, passive income residency visas usually come with other conditions in addition to proving financial ability. For example, you may be required to spend six months or more per year in the country in order to maintain residency status. An investment visa is an alternative to a passive income visa, whereby a certain amount of money can be invested into an approved economic sector in exchange for residency. The most popular form of investment is the purchase of approved real estate such asGolden Visaor throughGolden visas obtained by depositsInvestment visas are usually faster and easier to obtain than passive income visas. They have fewer restrictions, such as requiring only a short period of physical residence, or even no physical residence at all. An investment visa is an attractive alternative when you simply want to obtain a second residency. Here are seven options to qualify for residency by purchasing property:
Portugal
Characteristics of Residency in Portugal
Under Portugal's Golden Visa program, you are eligible for Portuguese citizenship after five years of residence and you can include family members in your citizenship application. By becoming a Portuguese citizen, you will have the right to work and live in all 27 European countries in the Schengen area. To obtain Portuguese citizenship after meeting the current conditions for naturalization, you need to prove that you have strong ties to Portugal and pass a language test, and the approval time will take another three to five years or more.
Greece
GreekGolden VisaIt is the most popular in Europe. Non-EU citizens and their families can obtain residency in Greece through real estate investment. Currently, the minimum investment is 250,000 euros, but in 2023 it will double. Multiple properties can be purchased and combined. Accompanying children cannot be over 21 years old at the time of application. The visa is valid for five years and can be renewed every five years as long as you continue to hold the property.
Characteristics of Residency in Greece
It is not necessary to reside in Greece to remain a resident, it is only necessary to be present at the time of visa renewal (once every five years). You can apply for Greek citizenship after 7 years of residence in Greece and there is no language requirement if you have resided in Greece for more than 12 years. Becoming a Greek citizen allows you to travel freely in and out of the 27 Schengen area countries.
Ecuador
Ecuador currently has the lowest threshold of any country in the world for obtaining residency by investing in real estate. The legally required minimum investment is 100 times the local minimum monthly wage. The minimum monthly wage changes annually and will be $450 in 2023, resulting in a minimum investment of $45,000.
Characteristics of residency in Ecuador
Columbia (District of, or University etc)
In Colombia, as in Ecuador, investment is a low-cost way to obtain residency. You need to buy a property worth at least 350 times the local minimum monthly wage, which in 2023 will be 1.16 million pesos, so you will need to invest approximately $85,000 USD. To become a naturalized citizen, you need to have lived in Colombia for five consecutive years, but if you are married to a Colombian citizen or are in a permanent partnership, you only need to have lived in Colombia for two consecutive years to apply for naturalization.
Characteristics of residency in Colombia
Residence visas are valid for a maximum of 3 years and for a minimum of 6 consecutive months per year. It may not be particularly attractive to some, but if you are looking for an easy country to live in South and Central America, Colombia is one of the better options.
Montenegro
The uniqueness of obtaining Montenegrin residency through real estate investment is that there is no minimum investment amount. Temporary residence in Montenegro can be obtained by purchasing a property of any value. This residency is valid for 1 year and can be renewed. After 5 years of temporary residence, it is possible to apply for permanent residence, which is valid for 5 years, renewable, and enjoys the same rights as Montenegrin citizens (except for the right to vote and the right to participate in elections).
Characteristics of residency in Montenegro
Resident status can be maintained by staying in the country for at least nine months per year. Officially, it is mandatory to stay in the country for 11 months per year, but it is possible to stay abroad for up to three months if the local police are notified before departure. Montenegro is expected to join the European Union in 2025. Residency in Montenegro is cheap now, and if you get permanent residence status, you may be able to convert to EU residency in the next few years. Montenegro also has a Citizenship by Investment program, which high net worth individuals may consider as a quick shortcut to EU citizenship.
Panama
Characteristics of residency in Panama
Maltese
Characteristics of residency in Malta
Dominican Republic
In addition to the seven above, the Digital Nomad (digital nomad) visa for Dominica in the Caribbean is also a great program, and Dominica is one of the newest Caribbean islands to offer a digital nomad visa, compared to theDigital nomad visas in the EUDominica guarantees foreigners exemption from tax liability on all overseas income. Since April 2021, Dominica has been offering this remote work visa program called the Worker in Nature Program (WIN). The Natural Worker Program was created to activate Dominica's tourism industry.
Characteristics of Dominica's right of abode
Anyone over the age of 18 who wishes to work remotely can apply for a digital visa for Dominica, or bring their family. There is no need to land or interview, three generations can obtain residency together, and newborns born locally can be naturalized directly. If you invest in real estate or make a donation of $100,000, you can directly obtain a visa.Dominica PassportThe
Dubai Golden Visa
To get a Golden Visa you only need to invest Dh2 million in real estate, Dubai allows foreigners approved for this special visa to live, work and study in the UAE without the need for a state sponsor and to have full ownership of their business in the mainland UAE. The change in the Golden Visa regime will make it easier for foreigners to live in the UAE and also advance other services offered to the affluent such asTop Medical InsuranceThe
Features of Dubai Golden Visa
Long-term visas are issued for 10 years at a time and are renewable. There is no requirement to stay outside the country for more than six months per year, and can include spouses, children, and maids. In the event of the death of the main holder of the Golden Visa, family members are allowed to remain in the UAE until the end of their license period.
Extended Reading
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Dominica Citizenship Program
- The Dominica Citizenship Naturalization Program was established in 1993 A.D. and is one of the oldest naturalization programs in the world.
- passport immigrationApplicants are not required to attend an interview
- Immigration can be processed quickly: the time it takes is about 2-3 months.
- The most cost-effective program for single applicants
- The status can be passed on permanently to the next generation in the direct line.
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