How the Cost of Living Affects Investment Migration
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Europe, News feed Date: 17 April, 2024

How the Cost of Living Affects Investment Migration

How the Cost of Living Affects Investment Migration

The cost of living crisis is headline news all around the world. Contrary to perceived opinion, it affects all sectors of society. In this article, we’ll discuss its effect on our industry: investment migration.

The Cost of Living Crisis Defined

Let’s turn to an authority on the meaning of words: The Cambridge Dictionary. According to their 2024 entry, they define the cost of living crisis as “a situation in which the cost of basic things needed for life, such as food and fuel, is rising much faster than most people’s incomes, with the result that most people have less money to spend on things that they need.”

Numbeo index the cost of living in 146 countries. The cost of living is highest in Bermuda and lowest in Pakistan. You’ll find the likes of Australia, Canada, Hong Kong, Ireland, and the UK in the top 30.

Finding Value in Residency by Investment

If you look closely at the Numbeo index, it all adds up. As well as cost of living, this online database includes figures for groceries, local purchasing power, rent, and restaurants. If the numbers are high where you live, this is where a new residency can help.

Eschewing North America, there’s a growing realization that you should head to the East to find the new West. So, where the Groceries Index is 74.2, it’s considerably lower in the UAE, at 45.0. All the more reason to invest in a UAE Golden Visa.   

Where the Cost of Living Plus Rent Index is 66.7 in Hong Kong; it’s 40.9 in Malta. This European country allows you to invest in Maltese residency. You can do so via the Malta Permanent Residence Programme.

Greece is another cheaper base to consider. Its Rent Index is 13.9, markedly lower than Ireland’s 47.3. The Greek Golden Visa provides a Mediterranean entry point.

Spain is the 54th positioned country on the Numbeo index. This puts it below the majority of its Western European neighbours. Another pull factor to consider regarding the Spanish Golden Visa.

Even lower down the index, you’ll find Portugal. Numbeo rates Spain’s fellow Iberians in 60th place. This makes the Portuguese Golden Visa an even more alluring proposition.

Mitigating Living Costs With Citizenship by Investment

A second citizenship is another tool at your disposal to combat the cost of living crisis. Savvy investors are always on the lookout for a citizenship that can lead to savings. It’s all about making your money go further.

38th-placed Malta does not only offer Residency by Investment. You can also invest in a citizenship there. This is known as Maltese Exceptional Investor Naturalization.

Türkiye is even lower down the list. You’ll find it outside the top 100, below Cambodia, Fiji, and Thailand even. This has sparked interest in Turkish Citizenship by Investment among HNWIs.

Find out the effect of the cost of living upon Residency by Investment.

Taking Steps to Reducing the Cost of Living in Your Household

If you want to cut down on your family’s cost of living, Residency and Citizenship by Investment offers numerous avenues. Talk to an investment migration specialist like RIF Trust to find the right programme for you. So, don’t delay and contact us today.

How the Cost of Living Affects Investment Migration

Date: 17 April, 2024

Posted in: Europe, News feed