With changes occurring within the political climate of Europe and with the succession of the U.K. from the European Union, this author explores 12 countries that offer the easiest and cheapest methods for gaining residency within the E.U. Typically speaking, the primary means for gaining residency is with the purchase of property, or providing a monetary investment within the given country. However, it is noted that in the two cheapest countries, Austria and Bulgaria respectively, one may gain residency either through employment or by selecting one of several types of permits making them ideal for someone who cannot make an initial investment.
Key Takeaways:
- For residency in Bulgaria, you need to deposit 500,000 pounds for 5 years.
- Monaco has no income or wealth tax, which makes it attractive for wealthy families.
- In Latvia, you will need to purchase property and pay a government fee.
“The UK might not be cheap but it is an attractive destination for rich families looking for good private schooling.”