5 Cheapest Residency or Citizenship by Investment Programs in Europe

1. Latvia

Minimum Investment: $65,400

Latvia, a country brimming with natural wonders, has magnetized numerous individuals to its shores. Introducing expats since 2010, Latvia’s Residence by Investment Program stands as one of the oldest European programs, providing a pathway for establishing residency. Moreover, it is unequivocally the most cost-effective residency or citizenship-by-investment program in Europe.

In 2014, there was a surge in applicants, with Latvia granting about 2,500 requests. However, a slight increase in the minimum investment afterward has somewhat tempered this trend. The investment can be made in various ways, including property investment, business investment, bank deposit, and bond investment. The most economical option involves investing $54,500 in the equity capital of a Latvian company and making a $10,900 one-time payment to the state budget.

The application process is swift, taking about 1-3 months, and physical presence during this time is not mandatory. Permanent residency can be attained in approximately 5 years, and citizenship is also an option, but only after 10 years of physical residency.

Citizenship through this program comes with the benefit of visa-free travel to 181 places, including Schengen and the US. The added advantage of family inclusion extends to minor children, and there is the unique provision of inviting relatives up to the second degree for visa purposes. Additionally, the personal income tax rate is lower than in many other European countries, standing at 31%. Consequently, this program stands out as the most cost-effective route to European residency or citizenship.

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