Immigration series | US, UK, Singapore and 16 more countries that offer residence by investment programs

As India does not allow dual citizenship, India’s investment migration market is primarily centred around residence-by-investment programs.

Up until a few years ago, India’s market was largely geared toward the US EB-5 program. However, its lengthy waiting period and increased investment amounts have led Indian families to consider other avenues.

With several Residence by Investment programs on offer, Indians are carefully taking their pick, based on essential investment, processing time and key benefits.

Here, Nirbhay Handa, Managing Director, Head of Global South Asia, Henley & Partners, shares details of the Residence by Investment programs offered by various countries. In alphabetical order:

1. Australia:

Permanent residents must spend at least two years within a five-year period in the country or demonstrate significant ties to Australia to maintain their residence status.

• Investment: Minimum contribution of AUD 2.5 million under the Investor Stream
• Processing time: 12 months
• Key benefit: Approximately five years to citizenship

2. Austria:

For persons of independent means, Austria offers the opportunity to become a resident in the EU and Europe’s Schengen Area with minimal bureaucratic requirements.

• Investment: Euro 40,000 in liquid funds on a bank account (the exact amount depends on the family size)
• Processing time: One–three months from submission of the application to approval
• Key benefit: The right of free movement to Austria, the rest of the EU, and Europe’s Schengen Area

3. Canada:

Canada is frequently voted one of the best countries in the world to live in.

• Investment: Government bond contribution of CAD 1.2 million under the Quebec Immigrant Investor Program (QIIP). Note that on March 31, 2021, the Ministry of Immigration, Francisation and Integration announced the extended suspension of the Quebec Immigrant Investor Program. The program will not reopen before April 1, 2023.
• Processing time: 48–56 months
• Key benefit: Eligibility for citizenship after three years (or 1,095 days) of physical presence out of a five-year period

4. Cyprus:

Cyprus has the lowest crime levels in the EU, a relatively low cost of living, and no inheritance tax.

• Investment: Minimum contribution of Euro 300,000 under a Regulation 6(2) application
• Processing time: Two months (or 18 months under a Category F application)
• Key benefits:

The right to live and study in Cyprus

It is not necessary to reside in Cyprus, but a visit once every two years is required.

Dependents can be enrolled in high-quality private schools, offering English language courses.

Residence applies to the whole family (applicant, spouse, and children under 18 years old).

Dependent children aged 18–25 and parents of the applicant are also eligible.

The whole process can be arranged without being present in the country. However, a visit is required for biometric capturing

5. Greece:

The Greece Golden Visa Program is considered one of the most affordable residence-by-investment programs that provide access to Europe. Successful applicants and their families are able to benefit from visa-free access to Europe’s Schengen Area within two months of applying.

• Investment: Real estate investment of Euro 250,000
• Processing time: One–two months from submission of the application to approval
• Key benefits:

The right of free movement to Greece, the EU, and Europe’s Schengen Area

No requirement to reside in Greece

Unlimited expiry date of residence permit

Opportunity to rent out the investment property

Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse)

Eligibility to apply for citizenship after seven years of residence

6. Hong Kong:

The Hong Kong Special Administrative Region (HKSAR) offers several residence programs for talented individuals seeking residence in this Asian metropolis.

• Investment: Applicants must complete a points-based test under the Quality Migrant Admission Scheme
• Processing time: Four–eight months
• Key benefit: Eligible to apply for permanent residence after seven years

7. Italy:

The Italy Residence-by-Investment Program is designed for foreign investors who are committed to making a significant contribution to the country’s economy, granting them Italian residence and visa-free access to Europe’s Schengen Area.

• Investment: Minimum investment from Euro 250,000 to Euro 2 million
• Processing time: Three–four months
• Key benefit: The right to live, work, and study in Italy

8. Latvia:

The Latvia residence-by-investment program was launched on July 1, 2010, as an initiative to sustainably overcome the economic crisis of 2007–09. Foreign nationals may apply for a residence permit in Latvia through various options.

• Investment: There are several qualifying options:

Purchase of real estate of Euro 250,000, plus a one-time payment of 5% of the purchase price to the state budget

Investment of Euro 280,000 in the subordinated capital of a Latvian bank for a period of five years, plus a one-time payment of EUR 25,000 to the state budget

Investment of Euro 50,000 in the equity capital of a Latvian company (provided that the company annually pays at least Euro 40,000 in taxes), plus a one-time payment of Euro 10,000 to the state budget

Purchase of special-purpose interest-free bonds at a nominal value of Euro 250,000, plus a one-time payment of Euro 38,000 to the state budget

• Processing time: Approximately 30–90 days
• Key Benefits:

Visa-free access to Europe’s Schengen Area

No minimum stay required to be eligible for the residence permit renewal

Fast-track application procedure

9. Malaysia:

The Malaysia My Second Home Program, started in 2002, allows foreign nationals who fulfil certain criteria to stay in Malaysia on a multiple-entry social visit pass.

• Investment: A bank deposit of MYR 300,000 (approximately USD 68,000) for applicants below 50, or MYR 150,000 (approximately USD 34,000) for applicants above 50 years old
• Processing time: Three–six months
• Key benefit: A 10-year multiple-entry visa enabling the applicant and their family to live in Malaysia

10. Malta:

Malta has become one of Europe’s leading investment locations, driven by its reputation for stability, predictability, and security. The Malta Permanent Residence Programme grants residence rights to foreign nationals seeking an alternative residence in Europe.

• Investment: Minimum contribution of Euro 175,000 mixed capital requirements
• Processing time: Four–six months from submission of the application to approval
• Key benefits:

The right to freedom of movement to Malta and the rest of the EU and Europe’s Schengen Area

Right to reside indefinitely in Malta

Investment required only for first five years

No residence requirement

Family members included

11. Mauritius:

Mauritius’ residence program allows foreign nationals to make a real estate investment into the country and apply for a residence permit. Successful applicants and their families are granted full residence rights including the right to live, work, and retire in Mauritius.

• Investment: Minimum real estate investment of USD 375,000
• Processing time: Two–six months
• Key benefit: The right to live, work, and retire in Mauritius

12. New Zealand:

New Zealand has an immigration and investment policy that provides the opportunity for foreign nationals to obtain permanent residence in New Zealand by making a substantial investment to the country.

• Investment: Minimum contribution of NZD 3 million
• Processing time: Three–four months under an Investor 1 resident visa
• Key benefit: Eligibility for citizenship after five years of residence

13. Portugal:

The Portugal Golden Residence Permit Program is a five-year residence-by-investment program for non-EU nationals. Portugal is a full member of the EU. Investment: Minimum contribution of Euro 250,000

• Processing time: Three–eight months
• Key benefits:

Visa-free access to Europe’s Schengen Area

Requires an average stay of just seven days a year in Portugal over the five-year period.

14. Singapore:

Foreign nationals may apply for permanent residence status through the Singapore Global Investor Program. The program is aimed at entrepreneurs or investors who are interested in making substantial financial investments in Singapore.

• Investment: Under the Global Investor Program, the investor can choose one of the following options:

Option A: Invest at least SGD 2.5 million in a new business entity or expansion of an existing business operation.

Option B:  Invest at least SGD 2.5 million in an approved fund that invests in Singapore-based companies plus the implementation of a business plan in Singapore.

Option C (Family Office Option):  An investment of SGD 2.5 million, used to establish a single family office in Singapore, which is required to have assets under management of at least SGD 200 million (minimum SGD 50 million of assets in Singapore and SGD 150 million in offshore assets).

• Processing time: Nine–twelve months
• Key Benefits:

Visa-free or visa-on-arrival access to 190 destinations, including Europe's Schengen Area, Canada, China, and the USA.

After two years of permanent residence in Singapore, it is possible to apply for Singaporean citizenship. Singapore is a single citizenship country,

15. Spain:

Spain’s residence program allows foreign nationals to make a significant investment in the country and apply for an investor visa.

• Investment: Minimum investment of Euro 500,000
• Processing time: Approximately 20 days for the immigration procedure
• Key benefits: The right to live, work, and study in Spain, and free movement to the EU and Europe’s Schengen Area

16. Switzerland:

Henley & Partners designed the Swiss Residence Program for non-EU/EFTA nationals. Financially independent individuals who are not gainfully employed in Switzerland but who agree to pay a certain minimum in net annual taxes can acquire a residence permit regardless of their age.

• Investment: Minimum annual taxes of CHF 250,000, dependent on the applicant and the canton of residence
• Processing time: Three–six months
• Key benefit: The right to live and study in Switzerland

17. Thailand:

The Thailand Elite Residence Program offers applicants the right to live in the country for up to 20 years and access privileged services and benefits. To receive the Thailand Elite privilege entry visa, foreigners must join Thailand Elite, an exclusive program offered by the Thailand Privilege Card Company Limited (TPC).

• Investment: Minimum application fee of THB 600,000 (approximately USD 19,000)
• Processing time: Two–three months
• Key benefit: Long-term, privilege multiple-entry permit as well as luxury, VIP treatment

18. The United Kingdom:

The Tier 1 Investor visa requires an individual to make a substantial financial commitment in the UK. To qualify, applicants must have held no less than GBP 2 million under their control for two years in advance of the initial application, failing which they must provide evidence of the source of the funds.

• Investment: GBP 2 million
• Processing time: Two–four weeks from submission of the application to approval
• Key benefit: The right to live, work, and study anywhere in the United Kingdom

19. The United States of America

The US EB-5 Immigrant Investor Program sets aside EB-5 visas for participants who invest in commercial enterprises associated with government-approved regional centres based on proposals for promoting economic growth.

• Investment

1. Fulfil one of the following investment options:

USD 1 million into a non-targeted employment area project

USD 500,000 into a targeted employment area project in a rural area or an area with high unemployment

2. Create or preserve 10 permanent full-time jobs for qualified USA workers

After the successful applicants have received a green card, the funds must stay invested until permanent resident status is granted (roughly five years).

• Processing time: Varying processing time
• Key benefit:

Citizenship after five years of legal residence

Green cards granted to the investor and their spouse and unmarried children under 21

Unrestricted employment for green card holders

Visa-free international travel to and from the USA

Efficient and quick permanent residence process through the program

Freedom to reside anywhere in the USA for investors through the Regional Center Pilot Program

To be eligible for citizenship, green card holders must have lived continuously in the USA for at least five years prior to naturalisation. They must further show that they have been physically present in the USA for at least 30 months out of the five years immediately before filing for naturalisation and must be able to read, write, and speak basic English.