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Countries across five continents offer residence by investment to wealthy South Africans, including Australia, Canada, Ireland, the United Kingdom, and the United States of America.
According to Henley and Partners, residence by investment programs, also known as golden visa programs, allow wealthy individuals to relocate to live, work, study, and even receive healthcare in a new country.
It added that changing residencies to a new country or having multiple residences is a crucial aspect of international planning for their wealthy clientele.
BusinessTech recently looked at 11 countries across the world where wealthy South Africans can ‘buy citizenship’ through citizenship by investment programs.
The Global Residence Index said that golden visas and citizenship by investment programs are not equivalent, with the latter giving the same benefits to applicants as a natural-born citizen of the country.
A golden visa only offers residency in another country for a certain period of time.
That being said, many residence by investment programs allow for citizenship applications after a set period of time, which can be seen in the list below:
Australia
- Investment: AUD 2,500,000 (R30,000,000)
- Processing time: 12 months
- Key benefit: Roughly five years to get citizenship
Austria
- Investment: EUR 40,000 (R790,000), German language aptitudes, accommodation, and private healthcare insurance.
- Processing time: One to three months
- Key benefit: Free Movement across the EU
Canada
- Investment: Creative start-up business
- Processing time: 12-31 months
- Key benefit: Eligibility for citizenship after three years of physical presence over a five-year period
Cyprus
- Investment: EUR 300,000 (R5,950,000)
- Processing time: Two to 18 months
- Key benefit: The right to live and study in Cyprus
Greece
- Investment: EUR 250,000 (R4,950,000)
- Processing time: One to two months
- Key benefit: Right to move freely in Greece and Shengen area
Hong Kong
- Investment: Must complete a points-based test under the Quality Migrant Admission Scheme.
- Processing time: Four to eight months
- Key benefit: Eligible to become a permanent residence in seven years
Ireland
- Investment: Eur 500,000 (R9,935,000)
- Processing time: 9 to 12 months
- Key benefit: Free movement in the Common travel area
Italy
- Investment: EUR 250,000 to 2,000,000 (R4,950,000 to R39,700,000)
- Processing time: Three to four months
- Key benefit: The right to work, live and study in Italy
Jersey
- Investment: Real estate investment of GBP 1,250,000 (R28,000,000) and annual taxes of GBP 145,000 (R3,200,000)
- Processing time: Varies
- Key benefit: Well-regulated finance industry
Latvia
- Investment: EUR 60,000 (R1,190,000)
- Processing time: One to three months
- Key benefit: Right to work, live and study in Latvia
Luxembourg
- Investment: Eur 500,000 (R9,935,000)
- Processing time: Roughly six months
- Key benefit: Visa-free access to the EU and Europe’s Schengen Area
Malaysia
- Investment: MYR 1,000,000 (R4,500,000)
- Processing time: Three to six months
- Key benefit: A 10-year multiple-entry visa allowing the applicant to live in Malaysia
Malta
- Investment: EUR 175,000 (R3,500,000)
- Processing time: Four to six months
- Key benefit: Free of movement in Malta
Mauritius
- Investment: Real estate investment of USD 375,000 (R6,700,000)
- Processing time: Six to eight months
- Key benefit: Right to live, work and study in Mauritius
Monaco
- Investment: Must be able to afford the lifestyle, including rent and prices for real estate
- Processing time: N/A
- Key benefit: Stable real estate environment for potential investors
Montenegro
- Investment: No minimum investment
- Processing time: Roughly one month
- Key benefit: Right to live, work and study in Montenegro
Namibia
- Investment: USD 300,000 (R5,400,000)
- Processing time: Three months
- Key benefit: Right to live, work and study in Namibia
New Zealand
- Investment: NZD 5,000,000 (R56,000,000)
- Processing time: Eight to nine months
- Key benefit: Eligible for citizenship after five years of residence
Panama
- Investment: USD 100,000 (R1,800,000)
- Processing time: 1 to six months
- Key benefit: Free movement in Panama
Portugal
- Investment: EUR 280,000 (R5,550,000)
- Processing time: More than 18 months
- Key benefit: Right, live and work in Portugal
Singapore
- Investment: SGD 10,000,000 (R135,000,000)
- Processing time: Nine to 12 months
- Key benefit: Eligible for citizenship after two years of permanent residency
Spain
- Investment: EUR 500,000 (R9,900,000)
- Processing time: 20 days
- Key benefit: Free movement to EU and Schengen area
Switzerland
- Investment: Minimum annual taxes of CHF 250,000 (R5,000,000)
- Processing time: Three to six months
- Key benefit: Right to live and study in Switzerland
Thailand
- Investment: THB 600,000 (R325,000)
- Processing time: Two to three months
- Key benefit: Long-term, privileged multiple-entry permit.
United Arab Emirates
- Investment: AED 2,000,000 (R9,900,000)
- Processing time: Eight weeks
- Key benefit: Right to live in any of the seven emirates in the UAE
The United Kingdom
- Investment: GDP 50,000 (R1,100,0000)
- Processing time: One to eight weeks
- Key benefit: The right to live, work, and study in the UK
The United States of America
- Investment: USD 800,000 (R14,000,000)
- Processing time: (30-36 months)
- Key benefit: Citizenship after five years of residence
Read: How many years the average South African needs to work to become a global millionaire
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