People have different reasons for wanting a European residency. Having a residence or even citizenship from one of the European nations will come with many benefits. As part of the European Union, many of these countries have a stable economy and high standards of living. Many foreign nationalities find European residency as a way to secure their future due to the unpredictable situations in their homelands.
While there are different countries that offer European residency programs to foreigners, Germany is the leading and all-time favourite country of choice for a lot of people. Ever wondered why? In this blog, you will discover more about the residency programs across Europe and how they all fair in comparison with the German Entrepreneurial Residency Program.
Securing A Permanent Residency In Europe
Various residency programs are offered by different countries in the European Union. These include citizenship by investment, permanent residency or residence permits. Citizenship by investment is a fairly straightforward way to secure citizenship. These programs will require you to invest a certain amount of money in real estate, bonds or shares. The residence permit, on the other hand, gives an individual the right to stay in a country up to 5 years. During the permit period, the permit holder can exit and re-enter the country numerous times, which is not allowed for a normal visa holder. A residence permit will also help you to get permanent residency or second citizenship, allowing you to set up a second home base.
Residency Programs In Europe
There are a number of residency programs that offer foreign nationals a chance to be a part of the EU. Countries like Portugal, Malta and Cyprus run some of these popular European residency programs.
While these nations are unique in their own ways, it is important to understand the pros and cons of settling for these programs.
For instance, Portugal is a beautiful country in Southwestern Europe which offers a residency program to interested individuals and families. There are a number of ways to obtain the residence permit which comes with the usual benefits of visa-free travel in EU and Schengen. Although the residence permit only requires you to invest somewhere around €350,000 in real estate that is more than 30 years old, or in security deposits, the permit will be available only in 6 months.
Malta, on the other hand, is a small island country which joined the EU in 2004. However, when compared to other residencies by investment programs, the one offered by Malta is quite costly. For an interested investor, it is mandatory to contribute around €650,000 to the National Economic and Social Development Fund. Additional amounts of 25,000 must be paid for spouse and all dependent children under the age of 18. The whole process will also take around 10 to 12 months, which is a long waiting period.
Cyprus is another popular choice of residence in Europe. However, the country has stringent rules regarding its investment programs and charge a hefty investment sum of €2 million which must be retained for a minimum of 3 years. The application process will also take 6-12 months to be completed for this European Residency Program.
Why Germany Is The Best?
Every nation is great in its own means and ways. However, when you are considering a country as your future home, it must be the best. With the world’s fourth-largest economy which is a highly developed social market economy, the people of Germany enjoy a stable lifestyle. Any foreign individual who adapts to the country and becomes a German resident through its Entrepreneurial Investment Program has the same rights and can enjoy the same benefits as any other local resident.
As one of the founding members of the European Union, Germany also has a greater deal of power, which is further strengthened by its fairly stable political environment. On becoming a German resident, you and your family will have a secure place to call home.
The German Entrepreneurial Residential Program is also more reasonable and flexible than other similar programs. Under this program, a person will have to purchase an off-plan real estate starting from €250,000 and engage in entrepreneurial activity by contributing an investment of €100,000 in upcoming development projects in Germany. The whole process will be completed in a span of 3 months, providing you and your family with your German residence visa. On completing 8 years in the program, the individual and his family are offered German citizenship.
Interested in the German Residency Program? Contact us and start your application process today.