Image via WikipediaImmigration and residence in a foreign country are most saught by many wealthy investors and business persons including those planning to retire in a foreign country. Unfortunately many are not aware that many Governments abroad encourage and offer a whole lot of significant benefits and incentives to investors and business entrepreneurs, who invest in their country which is why “economic investment programs” are officially adopted by these Governments. This also means that you can legally move, relocate or immigrate to another another country through investment.The following are quick summary of investment programs available with different countries in Asia, Europe and Carribean.
EUROPE
In Europe, the following are the countries which are widely popular among non-EU and foreign nationals coming from other countries. These countries offer various residence programs for investors against a minimum investment and a residence permit can be obtained.
Austria
The minimum investment needed is EUR 100’000 and it is the cheapest country to gain residence in Europe. No business activity allowed in Austria and confirmation of accomodation such as rental lease and health insurance is the main criteria. Benefits of residence permit include visa free travel to schengen and other 180 countries. Residence permit is issued for one year and then renewed annually.
Switzerland
Switzerland is an attractive destination for wealthy clients who wish to relocate or retire in Europe. Switzerland has a “lump sum” taxation program of a minimum of CHF 150’000 you will given a choice of swiss canton and location to live and granted a swiss residence permit. No employment is allowed. This program is available for retirees, business entrepreneurs and self-employed persons.
Belgium
Belgium is a major international financial center in Europe. To obtain residence in Belgium, you will need to form a new company with office/employees or join an already existing Belgium firm. The minimum investment usually needed about EUR 100’000 along with few additional costs. Belgium is the only country in europe, where it is possible to apply for citizenship after just 3 yrs of residence. Belgium residence permit requires no minimum stay during the year and offers visa free access to borderless schengen countries in europe.
United Kingdom
United Kingdom has an official `Investor Immigration Program` for wealth and high net worth individuals who make a substantial high investment in the economy and development in the United Kingdom. Foreign nationals who are interested to immigrate to UK are required to make a high net worth investment of GBP 1,000,000 (1 million) and getting a UK residence permit is much faster than other countries in about 2 months of time.
Bulgaria
Bulgaria is a EU member country and currently offers a “investor program” for non-EU citizens where upon investing 1 million BGN (approx EUR 530,000), it is possible to get residence permit for 5 yrs. The investment can be placed in a govt guaranteed secure bonds or can be invested in bulgarian business venture.
Bulgaria has low tax rates on corporate and personal income. Bulgaria is likely to join the schengen in the near future.
Latvia
Latvia offers a new residence program for investors and the residence program allows visa free travel in other European and schengen countries. A temporary residence permit can be obtained against a investment of EUR 300,000 in bank term deposit for 5 years of invest appox EUR 100,000 in real estate or by forming a business in Latvia.
Monaco
Monaco is a very popular destination for wealthy millionaires. Getting residence in Monaco is possible against a minimum investment of EUR 1,000,000 (1 million) which has to be invested either with a Monaco bank or in Real estate or with a good mix of both. Monaco is not a EU member country and non-EU persons have to apply through France. There are no income, wealth, gift or capital gains taxes in Monaco and the prices of real estate are very expensive.
ASIA
In Asia, the following countries are widely popular for residence among international foreign investors coming from other countries.
Hong Kong
Hong Kong has low corporate taxes and its a major financial and business centre in Asia. Hong Kong has a “Investor Residence Program” and the minimum investment needed is HK$ 10 million or more (approx US$ 1.2 mill) and this money can be invested in Real Estate or Certificates of Deposit (CD), equities, securities or investment schemes endorsed by HK Immigration Dept.
Singapore
Singapore excels in modern major financial and banking sector in south east Asia. Singapore offers a “Global Investment Program” which encourages overseas investors and business entrepreneurs to make a significant contribution to the economy of the country. The minimum investment needed is SG$ 5 million (approx US$ 4 million) which has to be deposited in a bank or financial institution authorized by Singapore Financial Authority.
CARRIBEAN
The following are the countries in Carribean which are widely popular among non-EU and foreign nationals coming from other countries. These countries offer various residence or even directly “economic citizenship” to those who invest in the development and economy of the country.
St.Kitts and Nevis
St.Kitts and Nevis offers directly “citizenship” to foreign clients and the minimum investment needed is USD 200,000 and there are no residency requirements. The major advantage of gaining St.Kitts Citizenship and passport is it allows visa free travel to schengen and other 180 countries including Europe. Investment in Real estate is also possible with higher amount. No personal visit is needed.
Panama
Panama has a investor program to foreign nationals who invest in the country. The minimum investment is USD 80,000 which has to be invested in agriculture project or USD 300,000 in a real estate or a bank term deposit. A temporary or permanent residence can be obtained under investor, business or pensioner category.
Bahamas
Bahamas is a major offshore “Tax haven” for company formations in the Carribean. Bahamas has “economic investment program” for which a permanent residence is granted foreign nationals who make minimum investment of USD 500’000, in buying purchase a residence (a home or condominim) in Bahamas. The permanent residence grants the investor right to live and work in Bahamas.
Dominica
Dominica offers direct “citizenship” upon investing a non refundable investment of USD$ 75,000 in the economic development of the country. The formalities invoved with the Govt is very strict and the personal interview in Dominica is a must.
Restrictions on Dual citizenship: In the above list, Austria, Monaco, Latvia, Singapore, Hong Kong does not permit dual nationality, which means when you become a citizen, you will need to renounce your previous nationality.
The Northamerica
Canada
Canada has a investor immigration program to foreign nationals who are willing to invest a minimum of CAD$ 800,000 which has to be invested in a government backed term deposit. No interest is paid and financing option is available. Family dependents such as spouse and children under 18 years can be accompanied by the investor. The processing time for application is very lengthy in Canada and it may take about 8-14 months.
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