Low-tax jurisdictions like Malta, offering a top tax rate of 35%, present an enticing opportunity for individuals seeking citizenship. Applicants must be prepared to invest either €738,000 for a minimum residence period of 36 months or €888,000 for a minimum of 12 months. Malta’s citizenship program has seen significant interest from Brits this year, as reported by Henley.
Greece offers a similar opportunity through real estate investments of €250,000. This investment grants applicants residence in Greece and visa-free travel within the EU’s Schengen area. After six years of residence, applicants may also apply for citizenship. Latvia provides a pathway to EU citizenship for those who invest a minimum of €60,000 and reside in the country for ten years.
Countries renowned for their high quality of life, like Austria and Switzerland, also attract wealthy foreigners through investment programs. Swiss residence permits require minimum annual taxes of ₣250,000, while Austrian citizenship typically entails a €10 million investment in a business or a €3 million contribution to a government development fund. Additional requirements, beyond financial contributions, are usually necessary for citizenship and residency schemes.
In the aftermath of the Brexit referendum, the UK experienced a significant outflow of high net worth individuals with investable assets of $1 million or more. In 2017, there were 4,200 departures, and while the number decreased for some time, it has now risen to 3,200. This makes the UK the third largest loser of millionaires globally, trailing behind China and India according to Henley’s data.
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