Expatriates looking to secure permanent residency in exotic European destinations will find this article enlightening. The text discusses the Golden Visas offered by five European countries - Hungary, Greece, Cyprus, Italy, and Spain. It highlights the benefits of these schemes, from the ease of entry and family reunification to reduced living costs.
Several European countries now make it easier to gain permanent status with Golden Visa s. These visas allow applicants to temporarily or permanently reside in exchange for significant financial investments, often for less than the cost of a UK home.
A new study by Philippou Law ranked five such countries, considering factors like investment cost, cost of living, and residency duration. The best country to obtain a Golden Visa in, according to the study, is Hungary, which offers a 10-year residency that can be renewed for another ten years. The minimum investment required for a Hungarian Golden Visa starts at €250,000, and the route to a passport takes around eight years.
Another option is Greece, where applicants can invest €250,000 in designated historic restorations or commercial-to-residential conversions. This grants a five-year residence permit, renewable every five years, with family members included. Cyprus, known for its successful property market and more than 3,400 hours of sunshine, provides permanent residency after eight years, starting from an initial €300,000 investment.
The route to Italian citizenship with their Golden Visa is longer but equally rewarding - beginning with a two-year permit and possible citizenship after at least 10 years of legal residence. The minimum investment starts at €300,000, and living costs are estimated to be 25% cheaper than in the UK
Golden Visa Permanent Residency Second Home Investment Opportunities Living Costs Pathway To Citizenship Family Inclusion
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