European Residency and Citizenship: Providing for your family and future generations
By Ceri Pratley – Residency and Citizenship Consultant
Government approved European Residency and Citizenship Programmes have been available for many years. In recent years however the industry has evolved to an extent that such programmes now provide a solid foundation upon which families are able to build flexible wealth management strategies. It is potentially the most important investment you will make.
I still find however that the majority of individuals and advisers are not aware of the multitude of benefits to be gained when programmes are implemented and utilised correctly. European residency (RBI) and citizenship (CBI) by investment programmes provide a wide range of lifestyle, travel, business, investment and tax efficient benefits.
European RBI and CBI programmes offer the whole family – from grandparents through to grandchildren – the following benefits:
- Option to live and work in Europe
- Access to quality education
- Extensive visa-free travel
- Multiple investment options
- Secure and stable environment
- Tax efficiency
- Low minimum stay requirements
- Completion in 3 to 6 months
Sovereign’s extensive network of offices and professional service partners ensure that we are best placed to assist in determining the most suitable strategy for your needs. Our range of European RBI and CBI programmes are categorised as follows:
- Residency
- Citizenship
- Tax residency
Each of the three options can be implemented independently or combined to adapt to your personal requirements, as and when required.
European Residency
European RBI programmes provide a route to temporary or permanent residency, the right to live in your chosen country, visa-free travel throughout the European Schengen zone and, provided the correct requirements are met, the option to apply for European citizenship in the future.
In order to qualify investors will meet the following requirements:
(i) €280,000 if a property situated within an area designated as low density.
(ii) Purchase €270k – Lease €10k for a property situated in Gozo or the south of Malta.
(iii) A Schengen visa can be applied for in Cyprus with no requirement to travel to your country of origin
European Citizenship
European CBI programmes provide investors and their families a second passport, which in turn affords them all the internal rights enjoyed by residents of the country, extensive visa-free travel throughout the world and the option to live, work and study anywhere within Europe.
In order to qualify investors will meet the following requirements:
(i) Increasing by €25,000 for each spouse and child up to age 18 and €50,000 for each child over 18 or parent over 55.
(ii) A main residence purchased for at least €500,000 must be maintained for life.
Local knowledge and support
The tables above provide a brief summary of the requirements for each programme. The Sovereign Group has a local office in each of the countries in which we offer programmes. Each office has formulated agreements with a variety of local investment partners and, working together, we will assist you in identifying a suitable investment. Our local team will also work closely with you through each step of the process, ensuring that you successfully qualify, apply, process and ultimately receive your residency or citizenship through your preferred programme. Please contact us to discuss your requirements and obtain detailed proposal containing the full benefits, requirements and costs associated with successfully submitting an application to any of the programmes above.
European Tax Residency
Obtaining residency or citizenship of a second country does not automatically mean that an investor becomes a tax resident of that country, but this in itself can be highly beneficial. For those who wish to spend the majority of their time in, and/or legitimately establish themselves as tax residents of a tax efficient European country, the Sovereign Group is able to assist in the following countries:
- Portugal
- Cyprus
- Malta
- Gibraltar
Each programme provides its own unique range of tax efficient benefits and is available to both European or non-European nationals. Please contact us to discuss your personal needs after which we will provide you with a recommendation detailing the benefits, requirements and costs associated with the programme most suitable for you.
Comprehensive Tax Efficient Solutions
When combined and managed correctly, the following Sovereign Group products and services will enable you and your family to develop and implement a comprehensive, flexible and tax efficient strategy:
- Trusts and foundations
- Estate and succession planning
- International retirement plans
- Wealth management
- Corporate structures and banking
- International life and medical insurances
Alterative Residency and Citizenship Programmes
Sovereign’s UK and Mauritius offices also provide all-inclusive solutions for investors who wish to establish residency in the UK or Mauritius. Our consultants and partners are also highly experienced in establishing residency and citizenship for investors in many other countries; please feel free to contact us to discuss any programmes that are of interest.
If you have any questions, or would you like to discuss how your family could benefit from RBI or CBI programmes, please contact us for further information or to discuss your personal requirements. Our consultants are available to answer any questions that you have and will assist in determining which RBI or CBI programmes would be most beneficial in respect of your situation and needs.
