How to Get a New Residency Under $500,000 in 2024 - RIF Trust
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Caribbean, Europe, News feed Date: 02 October, 2023

How to Get a New Residency Under $500,000 in 2024

How to Get a New Residency Under $500,000 in 2024

New residency is not a luxury purchase. It is an affordable Plan B. In this article, we share the best discount Residency-by-Investment programmes available in 2024.

A new residency costs less than $500,000 in Anguilla.

$150,000 Anguilla Residency by Investment

In the Caribbean, the divide is more east-west than north-south. As European navigators discovered the eastern islands first, they tend to be more developed than the western islands. Tax-friendly Anguilla, in the eastern Caribbean Sea, is a stylish example of the sophistication of the east.

Select Anguilla, the government-appointed agency for Anguilla’s residency programmes, is as discerning as its name suggests. In 2018, Latitude won a Public Service Concession. This led us to design, set up, and launch Select Anguilla.

Two out of the three Anguilla Residency-by-Investment options cost less than $500,000. The most popular route is to contribute $150,000 to the Capital Development Fund (CDF). The Anguilla Government uses the CDF to subsidize public sector projects.

If you add a spouse or dependant to your application, you are liable for an additional $50,000 charge. For a family of four, there is a $3,000 application processing fee. Select Anguilla issues $7,500 due diligence fees for every adult listed on the application form. 

Anguilla residency offers both short- and long-term benefits. Processing takes between two and three months. Spend at least 270 days a year on the island for five years and you become eligible for a British Overseas Territories passport.

A new residency in Canada coasts less than $500,000.

$200,000 Canada Residency by Investment

Canada is an appealing investment migration location.  A 2023 Organization for Economic Co-operation and Development report makes for inspiring reading. The report ranks Canada as the most attractive destination for immigrant entrepreneurs.

Investing in Canada is investing in a forward-thinking country.  The technological sector plays a key role in the Canadian economy. It was responsible for more than 15% of Canada’s GDP growth between 2016 and 2021.

There are three routes to Canadian residency for less than $500,000. You can become an accredited investor or make an investment in an Angel Investors Group. These Start-Up Visas (SUVs) will cost $200,000.

The third SUV option is to invest $250,000 in a Canadian Venture Capital Fund. This package includes a 10% shareholding in a new Canadian start-up. It also covers expenses such as initial due diligence, onboarding, and incubation fees. 

The Honourable Sean Fraser is the Minister of Immigration, Refugees and Citizenship. He allocated more spots to the Start-Up Visa program in 2023. Fraser has scheduled further SUV increases for 2024 and 2025. 

You can acquire a new residency in the UK for less than $500,000.

$250,000 United Kingdom Residency by Investment

On March 9, 2023, the UK’s Home Office made a Statement of Changes in Immigration Rules. This announced the closure of the Start-up and Innovator visas. These had replaced the previous Tier 1 Entrepreneur visa routes in March 2019.

As an Innovator Founder, you can add a spouse to your application. You can also include children under 18 as dependants. There is a path to British citizenship within five years. 

Your business plan requires three key ingredients. It must be innovative, supplying an original answer to an existing question. The other two requirements are that it is scalable and viable.

The new Innovator Founder visa is a faster route to Indefinite Leave to Remain (ILR). You can apply for ILR after three years in the UK. It used to take five years of residence.

The UK is one of the most well-connected countries in the world. It is a melting pot of global talent. The Innovator Founder visa is a gateway to an entrepreneurial hub. 

You can obtain a new residency in Greece for under $500,000.

$275,000 Greece Residency by Investment

There were close to twice the number of Greece Golden Visa applications in 2022 than in 2021. 2023 saw demand increase further. By May, the Greek Government raised over €1 billion through Residency by Investment.

The residency programme is growing in popularity with American investors. As well as being a tourist hotspot, it is attracting residents. CNBC’s Karen Gilchrist writes, ” Escaping to the Greek islands is the stuff of fantasy for many, at best lived out over a two-week vacation.” “For others, it’s a lifestyle choice.”

July 31, 2023 saw the cost of a Golden Visa rise from €250,000 to €500,000. This is in North, South and Central Athens, Mykonos, Santorini, Thessaloniki, and Vari. Among the unaffected areas is Piraeus in Greater Athens.

Piraeus has aspirations to become the biggest port in Europe. RBI will contribute to its continued development. It is a smart area to invest in.

A new residency is available in Portugal for under $500,000.

$275,000 Portugal Residency by Investment

There was some concern that the Portugal Golden Visa would end in 2023. Instead, the Portuguese Government revised the investment options. This saw the most common real-estate option disappear.

But you can still invest in Portugal and receive residency in return for under $500,000.  Donate a minimum of €250,000 ($275,000) to artistic production or cultural heritage. This is your bargain route to a Portuguese residence permit.

By “artistic production”, authorities require you to fund a film or musical produced on Portuguese soil. They safeguard “cultural heritage” in Portugal by establishing foundations. By contributing to one, you qualify for Portuguese residency.

You can retain a non-EU base as the Portuguese RBI programme means you only have to spend seven days a year in the country. At the same time, you can enjoy visa-free travel through the 27 countries of the Schengen Area. You can claim citizenship or permanent residency in Portugal after five years.

Another benefit of the Portugal Golden Visa is that you include dependants in your application. These include a spouse and children who are enrolled in a course of full-time study. You can also add dependent parents aged over 65.

A new residency in Malta costs less than $500,000.

$400,000 Malta Residency by Investment

Like fellow European countries offering RBI, Malta is one of the EU’s key tourist destinations. Over 2 million people visited Malta on holiday in 2022. The Malta Permanent Residence Programme (MPRP) is a gateway for a longer-term commitment to the island group.

As a result of MPRP, one fifth of the Maltese population are expats. But what makes the archipelago such an attractive residence? Families are reassured that Malta ranks as the safest country in Europe with low crime rates.

Malta takes pride in its inclusivity. This is a liberal jurisdiction where LGBTIQ+ applicants are made to feel welcome. A progressive government looks forward while respecting generations of Maltese history.

If you are planning on relocating to the islands with your family, you will appreciate the excellence of the education system. It is modelled on the British tradition. There is a healthy mix of state, church, and private schools.

The Residency Malta Agency generated over €50 million through its programmes in 2022. Maltese residency is an enduringly popular investment. You can include up to four generations in your application.

Widen Your Focus

If the cost of the programme is not an issue, we have a wider range of Residency by Investment programmes to select from. But if price is a factor, we suggest you move fast as programmes go up more than go down. So, don’t delay and contact us today!

How to Get a New Residency Under $500,000 in 2024

Date: 02 October, 2023

Posted in: Caribbean, Europe, News feed