The 12 easiest and cheapest countries for gaining European Union residency
12. Bulgaria — A deposit of around €500,000 in a Bulgarian government bond portfolio for five years is enough to qualify for Bulgaria's residency programme.
11. Greece — After being granted a so-called "D" visa, investors can apply for Greek residency after purchasing properties with a total value of €250,000.
10. Cyprus — The Mediterranean island offers a low corporation tax of 12.5% for residents' businesses but to apply you need to buy a property worth more than €300,000.
9. Monaco — Residents of Monaco are not subject to income tax, capital gains tax or wealth tax and are able to travel visa-free to all Schengen area countries.
8. Jersey — The island of Jersey is attractive for its low tax regime and mild climate. The minimum investment for residency costs £125,000 a year and is only open to those earning more than £625,000.
7. United Kingdom — The UK might not be cheap but it is an attractive destination for rich families looking for good private schooling. The residency programme is tiered, asking for £2 million, £5 million and £10 million from investors.
6. Latvia — To obtain a Latvian temporary residence permit, one has to buy real estate worth €250,000 and pay a 5% government fee.
5. Spain — The country has a similar programme to Portugal, and a resident permit can be obtained by buying a €500,000 house or investing €2 million in Spanish government debt.
4. Malta — Malta applies a low 15% tax rate for permanent residents, and the programme can be accessed for relatively little money — the purchase of a €275,000 property should do it.
3. Portugal — To obtain Portuguese residency one can create 10 jobs with a business, transfer €1 million into a Portuguese bank or buy a house for €500,000.
2. Belgium — A Belgian residency application takes as little as two months to process and employment in the country may be a qualifier on its own, negating the need for investment.
1. Austria — Austria offers 10 different types of residency permit that do not require an investment and which can be used for visa-free travel across the Schengen area.
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