Without doubt, the coronavirus pandemic has limited our freedom of movement severely but in normal times, many people move around the globe with ease. Some may choose to leave their country of birth and relocate to another place for good. Of course, the reasons for moving to another country can be diverse and of course, relocation always takes time, money, and great effort but the sheer possibility to relocate already makes it worth considering.
Where can you relocate to in 2022? What countries are welcoming to immigrants? What countries offer the best conditions to those who relocate there from other places on the planet? Where can you easily acquire a residence permit? Would you qualify for citizenship of a certain country if you relocate there?
The answers to these questions are going to be different in each individual case. This is why we invite you to request a personal consultation with International Wealth experts on moving to a foreign country.
Before you relocate
You have to do your homework before moving to a foreign country: this is quite obvious. You have to do serious research to find out the most important facts about the country (or countries) that you are considering. In particular, you have to look into the following aspects:
- The level of hospitality to foreigners in the country of interest. Some countries will be more welcoming to the immigrants of your nationality while others will be less so.
- Job opportunities in the country of prospective residence. You have to find out if your professional skills are in demand in the country you are considering. Besides, you must learn about the legal possibilities to work in a foreign country. We must note at this point that a number of countries welcome foreigners who engage in business activities when immigrating and bring investments to the host country’s economy. For this reason, many immigrants choose to register business companies in foreign countries and make their own money rather than work for somebody else.
- The legal residence/ citizenship scheme(s) available in the target country. Different national legislations will treat foreigners in different ways. Some countries will let people from your country in without visas while others will not. Some countries will have lax requirements to those wishing to obtain residence permits there while others will be more demanding.
- The opportunity to obtain full citizenship of the country. Most countries of the world will offer the opportunity to acquire their citizenship by naturalization if you live there for some time. However, the naturalization periods will differ greatly from one country to another.
- The cost of living in the country that you are planning to relocate to. Obviously, this is an important question to consider. Will you be able to make a living in the target country? Will your passive income be enough to sustain you there? What are the possible ways of reducing the cost of living in the country?
Indeed, you have to ask yourself lots of questions and digest tons of information if relocation comes up as an option. Professional advice would be invaluable here. International Wealth immigration specialists have helped hundreds of people to change their places of residence. We will be happy to provide assistance to you too. Please contact us if you are considering relocating to a foreign country.
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Residence permit abroad: how can you acquire one?
Some countries literally ‘sell’ their citizenship to foreigners. You do not have to acquire a residence permit there. Instead, you can simply invest in the passport of the country, which will naturally make you a legal resident there. The price of a foreign passport starts at US$ 100,000 and the shortest possible citizenship acquisition period is six weeks. If you are interested in this option, we will gladly advise on the matter.
There are less expensive ways of legalizing your stay in a foreign country, however. Most national states will issue residence permits to foreigners on the following legal grounds:
- You can get a temporary residence permit if you enroll in a college or university in a foreign country.
- You can sign a job contract with a foreign employer and this may make you qualified for a residence permit. Please note, however, that a job contract is not a guarantee that you will get a residence card in some instances. Canada, Germany, and Turkey are rather welcoming to foreign specialists.
- You will qualify for a residence permit in a foreign country if you marry a citizen of this country. In most cases, legal residence can turn into full citizenship after some time unless you divorce prematurely.
- Some countries will grant you residence permits if you register a business company on their territories. Turkey in particular, takes this opportunity even further: if you start a company there and create fifty jobs, you will be eligible for Turkish citizenship. Please mind that dual citizenship is allowed in Turkey.
- In some countries, you can also qualify for legal residence if you put money in state bonds or set up an account in a local bank. In this way, you can earn some money on the interest in addition to obtaining a legal residence permit in a foreign state.
- There are also a couple of countries who will grant legal residence and even citizenship to those foreign nationals whose ancestors are (or were) their citizens. You need a bit of luck to be able to use this opportunity though.
Please note that the easiest way to acquire foreign residence is by making an investment in a foreign country. And the most popular investment object is real estate.
Best countries to relocate to in 2022
If relocation is on your mind, you may be willing to stay on the same continent where you are or you may want to explore a different part of the world. The choice of the country will also depend on your major goals. Would you like to upgrade your lifestyle? Would you like to live in a country with a more stable political situation than you find at home? Would you like to spend your golden years by the seaside or in the mountains? Would you like to obtain a powerful passport to freely travel around the globe? Are you looking for better educational opportunities for your children?
In any case, below please find lists of countries that look most attractive to foreign nationals wishing to change their place of residence. We mention some countries in Europe, Asia, America, and the Caribbean.
Relocate to Europe
It goes without saying that the European continent attracts a great number of immigrants from other parts of the world. This should not be surprising because most national economies are strong there, healthcare and educational systems are at the top, and the living standards are high. At the same time, you have to realize that Western Europe in particular is not the cheapest place to live in. Besides, each national government is very protective about jobs and it is difficult for a foreigner to get hired in Europe.
- Portugal is not the least expensive country to live in but cheaper than Germany, France, or Great Britain anyway. You can acquire a residence permit in the country in one of the ways described above but you can also qualify for Portuguese residence by investment. The lowest required investment amount is 280 euros and after holding the residence permit for five years, you can apply for full citizenship of Portugal.
- Spain is also quite popular with wealthy foreign investors. A country with a wonderful climate and access to both the Atlantic Ocean and the Mediterranean Sea, Spain offers an opportunity to acquire legal residence there by purchasing a house or an apartment. You can buy a piece of real property that is worth at least 500,000 and this will make you qualified for a residence card.
- Montenegro administers a citizenship-by-investment program but it is going to be closed on January 1, 2022. At the same time, acquiring a legal residence permit in this Balkan country is still quite possible. It offers a European lifestyle at a less-than-average price.
- Germany is highly popular with foreign immigrants because first, it is the leading European economy and second, it welcomes foreigners. You can relocate to Germany on a student visa, with a job contract, by purchasing real estate in the country, or by obtaining a business visa. The average salary in Germany is currently about 4,000 euros per month and the living costs for a single person are about 1,600 euros.
- Bulgaria is a country on the Black Sea coast with pretty nice resort cities. Living in Bulgaria is comparatively inexpensive and you can theoretically obtain its citizenship by investment but the required investment amount is going to be rather high (higher than in Portugal, for example).
In addition to that, you can consider such European countries as Serbia, Italy, Slovenia, Cyprus, or the Czech Republic if you are thinking of relocating to Europe.
Relocate to Asia
Relocating to one of the Asian countries can also be worth considering. The climate in this part of the world is mild and the costs of living are lower in comparison to Europe. Some Asian countries welcome foreign specialists while others are attractive for investors. If you would like to relocate to Asia, you can consider the following countries, among others:
- Singapore is the largest economy in Asia (for GDP per capita) and it is a highly prosperous country indeed. The local tax system is attractive for foreign businesspeople. If you are a qualified specialist, you can count on finding a well-paid job in Singapore. A company registered in the jurisdiction can become an efficient instrument for your international business. Finding a job or starting a business in Singapore will make you qualified for a residence permit.
- Turkey is one of the most attractive options to consider. You can qualify for Turkish citizenship (not just legal residence but full citizenship) if you invest US$ 250,000 in real estate there. Other investment options are also available: you can start a company in Turkey, create jobs, or put money in a Turkish bank to qualify for citizenship. Istanbul is extremely beautiful and this is where many foreigners choose to live. Half of the city is actually located in Europe and the other half in Asia. Turkey is also popular with tourists as they can enjoy swimming in any of the four seas that the country has access to: the Mediterranean, the Aegean, the Black, or the Marmara.
- The Philippines can be of interest to those who would like to relocate to Asia without any bureaucratic hassle. You can spend two years in the country on a tourist visa. When the period expires, you can leave the Philippines for a day or two and then re-enter the country. Now you can legally stay there for two more years. There is also an investment program for retirees in the Philippines. You will qualify for a residence permit in the country if you invest only US$ 20,000 (the opportunity is available to those who are above 34 years of age).
- Malaysia is one more Asian country where you can retire. To qualify for the local immigration program you have to put US$ 100,000 in a local bank if you are below retirement age and US$ 50,000 if you are above retirement age. Simply open an account in a Malaysian bank and file and application for local residence. We must note, however, that the cost of living in Malaysia is a bit higher compared to some other Asian countries.
- China boasts a rapidly growing economy and a relatively low cost of living. It welcomes highly qualified specialists from other countries. In addition, you can register a business company in China or make an investment in real estate (from US$ 500,000) thus qualifying for legal residence there.
- Thailand is an extremely popular tourist destination. Quite a large number of foreigners that visit Thailand as tourists find the local lifestyle so wonderful that they purchase residential accommodations and relocate there for good. The country also has a special immigration program for retirees and a program for foreign investors (Thai Elite). You can qualify for a five-year residence permit in the country if you invest from US$ 15,000 in the local economy. If you invest US$ 65,000, you will be able to enjoy an impressive number of various bonuses.
Please apply for our professional assistance to accelerate the relocation process. We will gladly answer all your questions related to the matter if you contact us.
Relocate to the Americas
The United States of America is a country of immigrants. Canada is open to foreign nationals too. But some Latin American countries also offer attractive relocation opportunities. We would like to bring the following four American states to your attention:
- The USA is famous for its ‘green card’, a long-term residence permit that may lead to acquiring US citizenship eventually. Besides, there is an EB-5 (investor) visa program that can also make you eligible for a residence permit in the USA. You have to invest US$ 900,000 in business in the country and create ten jobs to qualify for residence. The United States terrain is amazingly diverse: you can find thick forests, snowy mountains, sunny beaches, deserts, and all sorts of other landscapes there. Thus, you can choose the climate that is comfortable for you when you relocate to the United States. As far as the cost of living is concerned, it differs from one state to another.
- Canada is especially attractive for working people wishing to relocate there. There are plenty of jobs in Canada and the Express Entry immigration program makes relocating to Canada non-problematic. Taxes are rather high in the country but only for those who make a lot of money. Those making below sixty thousand dollars per year do not mind the Canadian taxes at all.
- Argentina is a South American country that attracts immigrants from other parts of the world. The financial requirements for foreign investors seeking residence in Argentina are not too tough. You can invest US$ 100,000 in a business venture in the country or put the same amount in state bonds and this will make you qualified for legal residence in the country. In addition to that, you can demonstrate having a passive income from a foreign source of US$ 500 per month and you will also be welcome to apply for Argentinian residence.
- Paraguay is attractive for the low amount of investment that is required for obtaining a residence permit there. You have to put only US$ 5,200 in a local bank to qualify for legal residence in Paraguay. We must note, however, that the bureaucratic procedures involved in the process of acquiring Paraguayan residence are tiresome and the cost of the legal services that you will need is going to be higher than the required investment amount.
Relocate to the Caribbean
The subtropical part of the Caribbean basin offers a climate that is probably the best on earth. The Caribbean islands are often referred to as ‘paradise islands’. Five states in the region administer citizenship-by-investment national programs that are extremely attractive: Saint Kitts and Nevis, Antigua and Barbuda, Dominica, Grenada, and Saint Lucia. Similar to Turkey, you can ‘buy’ Caribbean citizenship. The investment required for a Caribbean citizenship starts at $100,000. All the countries offer at least two investment options: a non-returnable donation to the state fund or a returnable investment in real estate. Some countries also allow investing in business or government bonds. We have partner immigration agents in all five states mentioned above and we will be happy to assist you in acquiring Caribbean citizenship.
Where should you relocate in 2022?
Naturally, the answer will depend on what you are looking for and on the amount of money that you are prepared to spend on relocation. Choices are plenty and it can be hard to decide what country to relocate to. International Wealth specializes in assisting people in acquiring foreign residence and citizenship. Wherever you would like to relocate, please request our consultations. We have already helped a great number of people to find new places of residence and we will gladly help you too. Please write to firstname.lastname@example.org or contact us in any other way (click on the Contact us icon above).
What is the lowest amount of investment required for obtaining second citizenship?
Antigua and Barbuda, Dominica, and Saint Lucia (all in the Caribbean) will grant you citizenship in exchange for a donation of US$ 100,000. This is the lowest price available in the investment immigration market. Please mind that you will have to take additional administrative expenditures into account if you would like to apply for citizenship of one of these countries.
What countries grant residence permits to foreign investors in real estate?
The following countries grant residence permits to foreign investors in real estate on their territories:
Spain (500 thousand euros),
Republic of Cyprus (300 thousand euros),
Bulgaria (300 thousand euros),
Greece (250 thousand euros),
Malta (250 thousand euros),
Hungary (amount not established),
Portugal (from 500 thousand euros),
Great Britain (more than 1 million euros),
Principality of Andorra (from 400 thousand euros),
Turkey (passport for 250 thousand dollars),
Countries of the Caribbean (passport for US$ 200,000),
Panama (from 250 thousand euros),
Costa Rica (from US$ 200,000),
UAE (from 98 thousand euros),
Malaysia (from 125 thousand euros).
What countries have the lowest costs of living?
The following countries are quite inexpensive to live in today: India, South Africa, Cuba, Vietnam, Turkey, Indonesia, Romania, Albania, Thailand, Bulgaria, Laos, Nepal, China, Nicaragua, Guatemala, Peru, Mexico, Bali, and the Philippines.