COST OF PROGRAM 2017
COUNTRYPROGRAMType of ResidencyCost of Main ApplicantCost of SpouseCost of ChildInvestment TypeInvestment AmountInvestment Length
Andorra Professional with International OutlookTemporary225179.9179.9Active74580Length of stay or change of status
Andorra Residence without WorkTemporary225179.9179.9Real estate426190Length of stay or change of status
Andorra Self EmployedTemporary19221.321.3ActiveNo minimum setLength of stay or change of status
AnguillaPPR- InvestorPermanent370370370Active2500000Length of stay or change of status
AnguillaPPR- Real Estate for retireePermanent770370370Real Estate280000Length of stay or change of status
Antigua and BarbudaCBI- DonationCitizenship5750057500Donation200000Not applicable
Antigua and BarbudaCBI-Business InvestmentCitizenship5750057500Passive15000005 years
Antigua and BarbudaCBI-Real EstateCitizenship5750057500Real Estate4000005 years
ArgentinaInvestorTemporary267135135Active100000Length of stay or change of status
ArgentinaRentierTemporary267135135Living ExpensesNo minimum setLength of stay or change of status
AustraliaBusiness InnovationTemporary110006200910ActiveNo minimum setLength of stay or change of status
AustraliaBusiness Talent-Significant Business HistoryPermanent1280063701320ActiveNo minimum setNone set
AustraliaBusiness Talent-Venture Capitalist StreamPermanent1280063701320ActiveNo minimum setNone set
AustraliaEntrepreneur StreamTemporary100005100685Active152000Length of stay or change of status
AustraliaInvestor Temporary110006200910Passive11400004 years
AustraliaPremium InvestorTemporary1385069201600Passive11400001y
AustraliaSignificant InvestorTemporary1280063851330Passive38000004 years
AustriaGainful employment ExceptedTemporary128128128Living ExpensesNo minimum setLength of stay or change of status
AustriaSelf EmployedTemporary128128128ActiveNo minimum setLength of stay or change of status
BahamasBusiness Investment Permanent100100100Active500000Length of stay or change of status
BahamasPR- Real Estate purchasePermanent1250100100Real estate500000Length of stay or change of status
BarbadosSpecial Entry and Reside PermitPermanent5650150150Real estate2000000Length of stay or change of status
BelgiumSelf EmployedTemporary266214214ActiveNo minimum setLength of stay or change of status
BermudaNew Business Work PermitTemporary1690ActiveNo minimum setLength of stay or change of status
BermudaResidential CertificatesTemporary158158158Living ExpensesNo minimum setLength of stay or change of status
British Virgin IslandsResidency without employmentTemporary800800800Living ExpensesNo minimum setLength of stay or change of status
British Virgin IslandsSelf-EmployedTemporary575ActiveNo minimum setLength of stay or change of status
BulgariaEntrepreneurPermanent600540540Active270000Length of stay or change of status
BulgariaEntrepreneur- TemporaryTemporary330270270Active135600Length of stay or change of status
BulgariaInvestor programPermanent1356001355Passive5425005 years
BulgariaInvestor program-fast track optionPermanent1356001355Passive1085000Hold for 2 years after citizenship.
BulgariaInvestor program-Private SharesPermanent600540540Passive3255005 years
BulgariaReal Estate optionTemporary330270270Real Estate325500Length of stay or change of status
CambodiaCBI- DonationCitizenshipDonation274000Not applicable
CambodiaCBI-InvestmentCitizenship8500050005000Passive3425003 years
CanadaQuebec Entrepreneur ProgramPermanent790125125Active75000None set
CanadaQuebec Investor ProgramPermanent13750Passive6000005 years
CanadaFederal Start-up Visa - Angel InvestorPermanent790415115ActiveNo minimum setNone set
CanadaFederal Start-up Visa - IncubatorsPermanent790415115ActiveNo minimum setNone set
CanadaFederal Start-up Visa- Venture CapitalistPermanent790415115ActiveNo minimum setNone set
CanadaOntario- Immigrant EntrepreneurTemporary6400Active750000Length of stay or change of status
CanadaBC- Immigrant EntrepreneurTemporary6400Active 150000Length of stay or change of status
Cape VerdeCitizenship by InvestmentCitizenshipUnknownUnknownUnknownActive213000Length of stay or change of status
Cayman IslandsIndependent Means- Certificate of Direct InvestmentLong Term17872073207320Active1220000Length of stay or change of status
Cayman IslandsIndependent Means-Certificate of Permanent ResidencePermanent27562512201220Real Estate1950000Length of stay or change of status
Cayman IslandsIndependent Means-Residence CertificateLong Term17811012201220Real Estate610000Length of stay or change of status
Cayman IslandsIndependent Means-Residence Certificate Little Cayman or BracLong Term17811012201220Real Estate305000Length of stay or change of status
ChileInvestor Capital AreaTemporary152ActiveNo minimum setLength of stay or change of status
ChileRentier Capital AreaTemporary152Living ExpensesNo minimum setLength of stay or change of status
ComorosCBICitizenship450002000010000DonationNo minimum setNot applicable
Costa RicaInvestorTemporary50Real Estate2000003 years
Costa RicaRentierTemporary50Living ExpensesNo minimum setLength of stay or change of status
CyprusCBI-BusinessCitizenship7458745585Active26600003-4 years
CyprusCBI-Combination Citizenship7458745585Mixed26600003-4 years
CyprusCBI-Financial assets Citizenship7458745585Passive26600003-4 years
CyprusCBI-Real EstateCitizenship7458745585Real Estate21300003-4 years
Czech RepublicLong term Visa- Business ReasonTemporary140140140Active44000Length of stay or change of status
DenmarkStart up (Self-employed)Temporary330250250Active No minimum setLength of stay or change of status
DominicaCBI-DonationCitizenship60500105007000Donation200000Not applicable
DominicaCBI-Real EstateCitizenship60500105007000Real Estate2000005 years
FijiAssured IncomeTemporary3508585Living ExpensesNo minimum setLength of stay or change of status
FijiInvestorTemporary3508585Active24000Length of stay or change of status
FijiInvestor-7 yearsTemporary3508585Active120000Length of stay or change of status
FinlandSelf EmployedTemporary480450235ActiveNo minimum setLength of stay or change of status
FranceCRCEE- Exceptional Economic ContributionTemporary257257257Active 10650000Length of stay or change of status
FrancePassport Talent- EntrepreneurTemporary287277145Active32000Length of stay or change of status
FrancePassport Talent- InnovatorTemporary287ActiveNo minimum setLength of stay or change of status
FrancePassport Talent- InvestorTemporary287ActiveNo minimum setLength of stay or change of status
GermanySelf EmployedTemporary330213213ActiveNo minimum setLength of stay or change of status
GibraltarHNWI ResidenceTemporary1255Living ExpensesNo minimum setLength of stay or change of status
GreeceGolden Visa-InvestorTemporary532530530Active266000Length of stay or change of status
GreeceGolden Visa-Real EstateTemporary532530530Real Estate266000Length of stay or change of status
GrenadaCBI-NTF ContributionCitizenship800080004000Donation200000Not applicable
GrenadaCBI-Real EstateCitizenship5800080004000Real Estate3500003 years
Hong KongEntrepreneurTemporary110110110ActiveNo minimum setLength of stay or change of status
Hong KongEntrepreneur- Start-up BusinessesTemporary110110110ActiveNo minimum setLength of stay or change of status
HungarySettlement Permit- National Economic InterestPermanent646464Passive3200005 years
IcelandWork PermitTemporary1105555Active No minimum setLength of stay or change of status
IndonesiaInvestorTemporary187180180ActiveNo minimum setLength of stay or change of status
IrelandImmigrant Entrepreneur Programme-Enterprise InvestmentTemporary373Active530005 years
IrelandImmigrant Investor Programme-EndowmentTemporary1600Donation530000Not applicable
IrelandImmigrant Investor Programme-Enterprise InvestmentTemporary1600Active10650003 years
IrelandImmigrant Investor Programme-Investment FundsTemporary1600Passive10650003 years
IrelandImmigrant Investor Programme-REITTemporary1600Passive11300003 to 5 years
Isle of ManTier 1-InvestorTemporary1070019001900Passive25134005 years
ItalyElective residenceTemporary124Living ExpensesNo minimum setLength of stay or change of status
ItalySelf-Employed - EntrepreneurTemporary124ActiveNo minimum setLength of stay or change of status
ItalySelf-Employed - Start-upTemporary164163163Active53000Length of stay or change of status
JapanBusiness ManagerTemporaryFreeActive450000Length of stay or change of status
JerseyHigh Value ResidencyTemporary630063006300Living ExpensesNo minimum setLength of stay or change of status
LatviaIndividual MerchantTemporary410380380ActiveNo minimum setLength of stay or change of status
LatviaInvest Credit InstitutionTemporary27010380380Passive3000005 years
LatviaInvesting BondTemporary27010380380Passive2660005 years
LatviaReal Estate OwnerTemporary13710380380Real Estate2660005 years
LatviaShare CapitalTemporary11050380380Active530005 years
LiechtensteinResidency without gainful employmentTemporary1135Living ExpensesNo minimum setLength of stay or change of status
LuxembourgPrivate ReasonsTemporary138138138Living ExpensesNo minimum setLength of stay or change of status
MacauMajor InvestmentTemporaryFree00ActiveNo minimum setLength of stay or change of status
MalaysiaInvestorTemporary27Passive20000005 years
MalaysiaMalaysia My Second Home-A50Long termFree0Passive34000After 1 year, maintain RM 100,000.
MalaysiaMalaysia My Second Home-U50Long termFree0Passive68000After 1 year, maintain RM 150,000.
MaltaGlobal Residence ProgrammePermanent6400Real Estate293000Length of stay or change of status
MaltaIndividual Investor ProgrammeCitizenship76320066004475Mixed5300005 years for property & investment
MauritiusInvestorPermanent215014501450Active500000Length of stay or change of status
MauritiusProperty Development SchemePermanent850140140Real Estate525000Length of stay or change of status
MonacoCarte de SejourTemporary111111Living ExpensesNo minimum setLength of stay or change of status
MoroccoCarte de SejourTemporary101010Living expensesNo minimum setLength of stay or change of status
NetherlandsInnovative start-upTemporary33825055ActiveNo minimum setLength of stay or change of status
NetherlandsWealthy Foreign National (Foreign Investor)Temporary225025055Active1330000Length of stay or change of status
New ZealandEntrepreneurTemporary2750Active70000Length of stay or change of status
New ZealandGlobal Impact EntrepreneurTemporary275ActiveNo minimum setLength of stay or change of status
New ZealandInvestor (2)Temporary3700Passive10520004 years
New ZealandInvestor Plus (1)Temporary3335Passive70000003 years
New ZealandTemporary RetirementTemporary2355Passive5260002 years
NorwaySelf EmployedTemporary4359350ActiveNo minimum set3 years
PanamaFixed Term Deposit InvestmentTemporary105010501050Passive3040003 years
PanamaForest InvestorTemporary105010501050Donation84000Not applicable
PanamaInvestor Macro-CompanyTemporary105010501050Passive or Active1640002 years
PanamaMixed Investment (Fixed Term & Real Estate)Temporary105010501050Passive + Real Estate3040003 years for the fixed term deposit
PanamaNationals of specific Friendly CountriesPermanent105010501050ActiveNo minimum setNot applicable
PanamaReal Estate InvestmentTemporary105010501050Real Estate 304000Length of stay or change of status
PanamaRentierPermanent105010501050Passive2750005 years
PanamaRetirement Permanent105010501050Living ExpensesNo minimum setLength of stay or change of status
PeruInvestorTemporary333333Active30000Length of stay or change of status
PeruRentierTemporary333333Living ExpensesNo minimum setLength of stay or change of status
PortugalGolden Residency-10 Job CreationTemporary610061002770ActiveNo minimum set5 years
PortugalGolden Residency-Artistic InvestmentTemporary610061002770Passive2660005 years
PortugalGolden Residency-Capital InvestmentTemporary610061002770Passive10650005 years
PortugalGolden Residency-Real EstateTemporary610061002770Real Estate5320005 years
PortugalGolden Residency-Research InvestmentTemporary610061002770Passive3725005 years
PortugalGolden Residency-Specific Capital InvestmentTemporary610061002770Passive5320005 years
PortugalGolden Residency-Specific Real EstateTemporary610061002770Real Estate3725005 years
RomaniaResidence for Commercial ActivitiesTemporary128128128ActiveNo minimum setLength of stay or change of status
RussiaEntrepreneurTemporary303030ActiveNo minimum set3 years
RussiaInvestorTemporary303030Passive17900003 years
Saint Kitts and NevisCBI-Real Estate OptionCitizenship750474504745047Real Estate4000005 years
Saint Kitts and NevisCBI-Sugar Industry ContributionCitizenship2500020000Donation250000Not applicable
SeychellesInvestorTemporary11107575Active1000000Length of stay or change of status
SingaporeGIP -Option A BusinessPermanent5000Active17876005 years
SingaporeGIP -Option B Gip FundPermanent5000Passive17876005 years
SlovakiaTemporary Residence-BusinessTemporary247140140ActiveNo minimum setLength of stay or change of status
South KoreaBig InvestorPermanent707070Active5000005 years
South KoreaInvestor - Guaranteed InvestmentTemporary115115115Passive4414005 years
South KoreaInvestor - Real EstateTemporary115115115Real Estate4414005 years
South KoreaInvestor - Risk-based InvestmentTemporary115115115Active4414005 years
SpainInvestor- Public DebtTemporary757575Passive21300005 years
SpainInvestor- Real EstateTemporary757575Real Estate533000Length of stay or change of status
SpainInvestor- Shares or bank depositsTemporary757575Passive1066000Length of stay or change of status
SpainInvestor-Business ProjectTemporary757575ActiveNo minimum setLength of stay or change of status
SpainStart-upTemporary757575ActiveNo minimum setLength of stay or change of status
St LuciaCBI-BusinessCitizenship595004100031000Active3500000Length of stay or change of status
St LuciaCBI-Government BondsCitizenship5950060006000Passive5800005 years
St LuciaCBI-Real EstateCitizenship595004100031000Real Estate3000005 years
St LuciaCBI-Saint Lucia National Economic FundCitizenship950060006000Donation180000Not applicable
SwedenSelf EmployedTemporary22011055ActiveNo minimum setLength of stay or change of status
SwitzerlandRentierTemporary1227474Living ExpensesNo minimum setLength of stay or change of status
SwitzerlandSelf-EmployedTemporary1227474ActiveNo minimum setLength of stay or change of status
TaiwanInvestor - BondsPermanent330Passive9900003 years
TaiwanInvestor- BusinessPermanent330Active4950003 years
ThailandInvestorPermanent558528002800Passive2900003 years
TurkeyCBI- Government BondsCitizenshipUnknownUnknownUnknownPassive30000003 years
TurkeyCBI- Job CreationCitizenshipUnknownUnknownUnknownActiveNo minimum setNot applicable
TurkeyCBI- Real EstateCitizenshipUnknownUnknownUnknownReal Estate10000003 years
TurkeyCBI-Bank DepositCitizenshipUnknownUnknownUnknownPassive30000003 years
TurkeyCBI-Fixed CapitalCitizenshipUnknownUnknownUnknownActive2000000Length of stay or change of status
Turks and Caicos IslandsPRC-BusinessPermanent26650200200Active1500000Length of stay or change of status
Turks and Caicos IslandsPRC-Public ProjectPermanent26650200200Active1000000Length of stay or change of status
Turks and Caicos IslandsPRC-Real EstatePermanent26650200200Real Estate1000000Length of stay or change of status
UAEBusiness InvestorTemporary750120120ActiveNo minimum setLength of stay or change of status
UAEReal Estate Investor-Land LicenceTemporary4080575575Real Estate No minimum setLength of stay or change of status
UK Tier 1 - Entrepreneur - 200KTemporary242524252425Active2500003 years or 5 years
UK Tier 1 - Entrepreneur - 50K Temporary242524252425Active630003 years or 5 years
UK Tier1-InvestorTemporary1410025542554Passive25000005 years
UK Tier1-Investor 10M OptionTemporary1410025542554Passive125000002 years
UK Tier1-Investor 5M OptionTemporary1410025542554Passive63000003 years
UruguayRetirement-Gov BondsPermanent111Passive10000010 years
UruguayRetirement-Real EstatePermanent111Real Estate10000010 years
US Virgin IslandsEB-5 Temporary481511401140Active10000002 years
US Virgin IslandsEB-5 - Regional CenterTemporary481511401140Passive5000005-7 year to get your money back
USAEB-5 Temporary481511401140Active10000002 years
USAEB-5 - Regional CenterTemporary481511401140Passive5000005-7 year to get your money back
VanuatuCapital Investment Immigration PlanCitizenship250Donation260000Not applicable

The overall cost of a program does not end with the investment. To start with, the investment cost itself depends on a variety of details, such as the type of investment, its length, the risk and return, the opportunity cost, inflation, and the fluctuation in value of the currency(Since we cannot predict the future, we do not calculate the last two factors in our overall costs). All our cost calculations are based on a family of four. Some programs are mixed or give you an option to choose the type of investment. For example, the Bulgarian Fast-Track Immigrant Investor program consists of a passive investment, and an active investment after one year.

Other direct costs to consider are the initial application costs, renewals, applications for Permanent Residency and citizenship, and the cost of a passport. These are usually low in comparison to the investment cost or the living cost. An important tranche of the initial application amount can be attributed to the ’due diligence’ cost, which by itself may be a couple of thousand dollars. Alien Land Holding Licenses are common in the Caribbean, and are either paid when a property is purchased, or annually. These fees are separate from real-estate transfer taxes and municipal tax.

Living cost programs will usually not define a precise amount of money that needs to be shown in order to qualify for residency. They will, however, ask that you have a place to stay and to prove that you have a comfortable amount of money deposited in a local bank to see you through the duration of your permit.

Many active investment programs do not impose a minimum; these are usually business/self-employed programs that are not designed to attract investors, but to facilitate their arrival. They usually only require that you maintain an income that is sufficient to sustain your family’s living costs. These can be risky or costly, as you might need to pump money into the company to show profit (e.g., by buying your own product via another country).

Passive investments are safe and sound, and some countries like Canada and the United Kingdom even enable you to finance them at an annual rate of approximately 7%.

Depending on your country of origin, living costs can be the largest expense you face when relocating. By the time you obtain your citizenship, you and your family may well have spent over $1M in living costs

It is important to plan your relocation by having a good idea of your current annual expenditures and tax contributions. One can balance the other, or might even help you save money in the long run. Some of the programs listed offer special tax treatment.

The Applicant Family

We will return to our example of a man and woman from Mainland China with two children. We assume that the children are between 15 and 18 years old to ensure they will be admissible as dependents in every program.

In every case, we have chosen the fastest application processing option possible (more expensive).

Residency Type

Part-time: Residence of less than six months.

Temporary: Non-permanent mean of residence, usually involves having to renew a permit and submit to certain conditions.

Long-term: Temporary residence permit of more than 10 years, usually given by countries without Permanent

Residence permits.

Permanent: Allows the entitled applicant to reside permanently in the territory, and renewals can be routine. Certain conditions apply in order to preserve it.

Citizenship: Applicant is given citizenship on approval. All the rights of a ordinary citizen, such as voting, might not be given.

Investment Type

A donation is a cash payment, but will not generate additional costs after payment.

An Active Investment can be best if you are looking to fully relocate, but can pose the greatest risk and cost in terms of both time and money.

A Passive Investment can pose little risk, depending on the government or bank in which you invest. In that case, the term length is just as important to look at as the amount. The interest earned can easily be offset by high inflation.

Real estate is the most logical investment, but most countries offering that type of program usually do not present the strongest real-estate markets, and have high costs of buying and holding property attached to them. Living cost requires no upfront investment, but it is a long and costly road to becoming a permanent resident or citizen.

Investment Amount

This is the minimum amount of investment (in USD) required to qualify for a given program. Real estate investment amounts can be higher than the required minimum set by the program, so it represents the average value of a property of 110 sqm to accommodate a family of four. Living expenses do not require an investment other than to provide for living expenditures. Retire and pensioner programs require you to remit a set minimum of funds into the territory, but it is not calculated as an investment amount, as everyone has living costs. Special tax schemes requiring you to contribute a set minimum in tax are not included in investment amounts, as most individuals pay taxes anyway.

Investment Length

The investment length refers to the length of time you’re the investment must be kept in place as condition to your approval. Donations are onetime fees, but others vary in different years. In some cases, the investment has to be maintained for the length of residence.

Cost of Application and Renewal

The cost of the initial application of a family of four and the renewal cost until permanent residency is obtained if applicable.

Cost of Permanent Residence

The cost of permanent residence refers to the cost of the application to permanent residence by four individuals if not obtained at initial application.

Cost of Citizenship

The cost of citizenship refers to the cost of application to citizenship by four single individuals if not obtained at the initial application.

Cost of Passport

This is the cost of an express delivery of four separately delivered passports with a validity of 10 years (if possible).

Additional Costs

These are the additional cost in relation to time spent in the country in order to obtain the permanent residency, citizenship, and passport (see Relocation Costs for more details). Real estate investments include annual municipal tax, transfer tax, and land holding license.

All the data in this report was collected during spring 2017.

All the data relating to the programs was obtained from official sources, such as government websites or authorized trading partners. For additional costs, please refer to Relocation Costs. Argentina www.migraciones.gov.ar Chile http://www.extranjeria.gob.cl
Hong Kong http://www.immd.gov.hk
Malaysia http://www.mm2h.gov.my
Malaysia http://www.imi.gov.my
Panama http://www.migracion.gob.pa
South Korea http://www.investkorea.org
UAE https://www.abudhabi.ae
UAE http://dnrd.ae
Andorra http://www.immigracio.ad
Anguilla http://www.gov.ai/immigration.php
Antigua and Barbuda http://cip.gov.ag
Australia http://www.border.gov.au
Austria http://www.migration.gv.at
Bahamas http://www.bahamas.gov.bs
Barbados http://www.immigration.gov.bb
Belgium http://www.werk-economie-emploi.irisnet.be/carte-professionnelle-pour-ressortissants-etrangers
Bermuda http://www.gov.bm/portal/server.pt
British Virgin Islands http://www.bviimmigration.gov.vg
Bulgaria http://www.investbulgaria.eu
Canada http://www.cic.gc.ca
Canada http://www.micc.gouv.qc.ca
Cayman Islands http://www.immigration.gov.ky/portal/page?_pageid=4121,1&_dad=portal&_schema=PORTAL
Comoros http://www.comoros-citizenship.com
Costa rica http://www.migracion.go.cr
Cyprus http://www.cipa.org.cy
Czech Republic http://www.mvcr.cz
Denmark http://www.nyidanmark.dk
Dominica http://cbiu.gov.dm
Fiji http://www.immigration.gov.fj
Finland http://www.migri.fi
France http://www.immigration-professionnelle.gouv.fr
France http://vosdroits.service-public.fr
Germany http://www.bamf.de
Greece http://www.investingreece.gov.gr
Grenada http://www.grenadacbi.org
Hungary http://www.bmbah.hu
Iceland http://utl.is
Ireland http://www.inis.gov.ie
Isle of Man http://www.gov.im
Italy http://www.esteri.it http://www.interno.gov.it
Japan http://www.immi-moj.go.jp
Jersey http://www.locatejersey.com
Latvia http://www.pmlp.gov.lv
Liechstenstein http://www.llv.li
Luxembourg http://visaimmigration.mae.lu
Malta ird.gov.mt
Malta http://iip.gov.mt
Mauritius http://www.investmauritius.com
Mauritius op.investmauritius.com
Monaco http://en.service-public-particuliers.gouv.mc
Netherlands www.ind.nl
New Zealand http://www.immigration.govt.nz
Norway http://www.udi.no
Portugal http://www.sef.pt
Saint Kitts and Nevis http://www.ciu.gov.kn
Seychelles http://www.ics.gov.sc
Singapore contactsingapore.sg
Slovakia http://www.foreign.gov.sk
Spain http://www.empleo.gob.es
Sweden www.migrationsverket.se
Switzerland http://www.ma.zh.ch
Switzerland http://www.ge.ch Switzerland www.bfm.admin.ch / http://www.vd.ch
Turks and Caicos Islands http://www.gov.tc
UK www.gov.uk
Uruguay migracion.minterior.gub.uy
US Virgin Islands http://www.uscis.gov