Second Citizenship and Residency by Investment: New Opportunities for Investors in 2024
Hungary. As of July 1st, 2024, investors can apply for a Hungary Golden Visa. Applicants choose from three options: purchasing real estate, investing in funds, or donating to a higher education institution. Investment costs start at €250,000.
Advantages of the Hungarian Golden Visa:
- visa-free access to the Schengen Area;
- ability to protect assets and open a bank account in the EU;
- three investment options, including real estate purchase;
- no residency requirements to maintain the visa;
- opportunity for EU citizenship by naturalisation;
- residency permit processing time of as little as five months.
Vanuatu. Foreigners can obtain a Vanuatu passport by investments starting at $130,000. Two new options have been added to the citizenship program — investment in the CNO Future Fund for cocoa or coconut oil production:
- Cocoa fund investment starts at $155,000.
- Coconut oil fund share purchases start at $157,000.
After five years, investors can recover part of their investments while retaining their citizenship.
As of August 31st, 2024, all applicants for Vanuatu citizenship must submit biometrics. Collection points will open in Vanuatu, Belgium, the UAE, New Caledonia, and Hong Kong by November 15th, 2024.
Greece. Greek residency can still be obtained by purchasing real estate starting at €250,000. Applicants can invest in one of two types of properties:
- Industrial projects converted to residential use.
- Government-protected buildings in need of restoration.
Portugal. Residency in Portugal is available by investment of €250,000 in culture and arts funds. Another option is acquiring investment fund units with a minimum requirement of €500,000 and with an opportunity to return the money.
How to Become a Resident of Another Country Without Investments
Residency for financially independent persons. France, Spain, Italy, Portugal, and Austria offer residency permits to foreigners with passive income. Financial requirements for applicants are typically tied to the country's minimum wage.
Residency for digital nomads. Portugal, Spain, Italy, Hungary, and Malta have introduced Digital Nomad Vsas, which allow individuals to obtain residency by providing proof of income abroad. The monthly salary requirement for digital nomads varies by country and is usually around €2,000—3,000.
Renting or purchasing real estate in the country is another condition for obtaining residency without investment.
Meeting Summary
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