6 countries where it is easier to get a residence permit

Having a place of residence in the European Union is the dream of many foreigners because of the advantages offered by the country of residence, as well as all the advantages offered by the Union as a whole. However, some countries are easier to live in than others. Here is a selection of six countries.

A resident of an EU country can freely travel within the Schengen area. A foreign resident may also apply for citizenship in the country where he resides. After obtaining citizenship, he can move and settle in any country of the Union.

Many European countries have tightened immigration laws. But in some EU countries it is easier to obtain a residence permit and become a resident, including through residency by investment schemes.

The specialized site schengenvisainfo.com has selected a list of six EU countries in which it is easiest to obtain a residence permit. All of these six countries offer virtually the same residence permit formulas, whether through investment or through other means such as work, study and family reunification.

Get a residence permit in Austria

Foreigners have several ways to become a legal resident of Austria. The country issues residence permits for several categories, including family reunification, schoolchildren, students and researchers, skilled workers and job seekers.

As a basic condition, the applicant must prove that he earns enough money to live in Austria.

For a non-EU foreigner, the easiest way to apply for a residence permit in that EU country is by investing. Indeed, it is enough to have a level 1 German language proficiency, full health insurance and at least 40,000 euros in cash in a bank account to be able to become a resident.

The review period can be from one to three months. The residence permit is issued for one year and must be renewed every year. At the time of renewal, the conditions mentioned above shall remain in effect. However, the country only offers a quota of 300 people per year.

Obtain a residence permit in the Republic of Cyprus

Cyprus

In this country, the easiest way to claim residence is to invest in real estate. Indeed, it is enough to purchase a property with a total market value of at least €300,000 plus VAT.

Alternatively, the applicant may invest the same amount in a physical company registered and operating in Cyprus. Or invest part of this amount in the collective investment of CIFA (Cyprus Investment Funds Association).

In addition, the applicant must also have an annual income of at least 30,000 euros, which may come from wages, rent, pensions, etc. There are other means, including employment, study or family reunification.

Get a residence permit in Greece

In Greece, there are several types of investments that foreigners can make in order to obtain a residence permit. These include, among others, the acquisition of real estate worth at least €250,000 or an investment of at least €400,000 in a company headquartered in Greece…

In addition to investment, there are several opportunities to obtain a residence permit in Greece. Therefore, we are talking about work in different fields, studies, research, vocational training, volunteering and family reunification…

Get a residence permit in Italy

In order to obtain the right to legal residence in Italy and the right to citizenship in 10 years, Italy also offers several options, including investment. Indeed, there are many investment formulas that allow you to obtain a residence permit.

Thus, a foreigner can invest a minimum of 2 million euros in Italian government bonds, a minimum of 500,000 euros in Italian shares or a minimum of 1 million euros in projects of public interest.

The country also allows obtaining a residence permit in other ways, including work, study and family reunification, as well as seasonal work from six to nine months.

Get a residence permit in Portugal

Portugal

Portugal offers two types of investment to obtain a residence permit: transfer of capital or purchase of real estate.

In the first case, this is, for example, a transfer of at least 5 million euros to a Portuguese bank account or several other types of investments in the amount of 200,000 to 500,000 euros.

In terms of real estate investment, an applicant can buy property worth between 280,000 and 500,000 euros, depending on the population density of the area in which the property is located.

Applicants for a residence permit by investment in Portugal can also bring a company to the country that will create at least ten new jobs.

Get a residence permit in Spain

To obtain a residence permit by investment in Spain, the applicant can buy a property worth at least €500,000, set up a business of general interest, make a bank deposit of at least one million euros…

Spain also offers a non-commercial residence visa, issued to persons with an income of at least 25,560 euros per year plus 6,390 euros for each additional family member. Like the other countries mentioned, Spain also offers other residence permits for work, study or family reunification.