The 12 Easiest Countries to Get Residency in 2024

Securing residency in a foreign country can open a world of opportunities, from new career prospects to a fresh start in a different environment.

For those considering a move, understanding which countries offer the easiest pathways to residency can significantly impact your decision.

This guide explores the top countries where obtaining residency is relatively straightforward, highlighting their unique advantages and residency programs.

Additionally, it highlights the benefits and opportunities available to foreign nationals, such as tax incentives and specific programs like the Golden Visa, which cater to their unique financial needs.

Understanding Residency

Definition of residency

It is important to not confuse residency with citizenship as they are two different legal statuses. Residency is a legal status that allows a person to live in a country for a certain period, mainly with a temporary residence permit or permanent residency that may need renewal and can grant rights to work, study, and access some public services but without full rights like voting or holding a passport.

Citizenship, on the other hand, is a permanent status that grants full legal rights and responsibilities, such as voting, running for public office, obtaining a passport, and full protection under the law. After fulfilling certain criteria, residents may eventually apply for citizenship and, in some countries, hold dual citizenship, allowing them to retain their original citizenship while acquiring a new one.

However, there are many advantages to obtaining residency, such as potential tax advantages, improved quality of life, and access to new job markets. Many seek residency for retirement, aiming to enjoy a more relaxed lifestyle in a favorable climate. Others are driven by business opportunities or the desire to experience a new culture. Understanding these motivations can help you select the best residency option for your needs.

Factors that Make a Country 'Easy' to Get Residency

There are many factors to consider when looking at a country that is easy to get residency in, but these three are the most crucial to keep in mind. This article will also give an overview of these factors for the residency programs offered in each country.

Quick processing times

Fast-processing countries reduce the waiting time for residency applications, which can be crucial for those eager to relocate. Countries like Panama and Mexico are known for their efficient residency procedures. Quick processing allows applicants to settle into their new home without prolonged uncertainty. This is particularly beneficial when applying for temporary residence permits or residence visas.

Minimum Financial Requirements

Countries often require proof of income, savings, or investment to grant residency. Those with lower financial thresholds, such as minimum income requirements, investment amounts, or bank deposits, make it easier for more people to qualify.

Minimum Financial Requirements Duration of Stay required for Permanent Residency Eligibility

The number of years one must reside in a country before becoming eligible for permanent residency can greatly affect ease of access. Countries that require shorter periods (e.g., 2-5 years) are easier compared to those with longer requirements

The 12 Easiest Countries to Get Residency in 2024

Portugal

Portugal is renowned for its accessible residency options, particularly the D7 Visa and the Golden Visa. The D7 Visa caters to retirees and individuals with stable passive income, such as pensions or investments. It requires proof of sufficient financial resources but no substantial investment in government bonds or other financial assets.

For the D7 visa take into consideration:

• Minimal physical presence required to maintain residency: 6 months per year
• Minimum financial requirement:  The main applicant must have a stable passive income of at least €820.00
• Application processing time: around 60 days with the required information.
• Duration of Stay Required for permanent residence: Five years of legal residency.

The Golden Visa program, on the other hand, necessitates a specific investment both provide a pathway to citizenship. Portugal’s appealing climate, affordable cost of living, and welcoming culture further enhance its attractiveness for expatriates and retirees.

Here is an overview of the factors to keep in mind about the visa:

• Minimal physical presence required to maintain residency: 7 days in the first year and 14 days (about 2 weeks) in subsequent two-year periods.
• Minimum Invesment requirements: €250,000.00
• Application processing time: 9-12 months for a residency permit to be issued.
• Duration of Stay Required for permanent residence: Five years of legal residency.

Spain

Spain offers two prominent residency options: theNon-Lucrative Visa and the Golden Visa. The Non-Lucrative Visa is designed for those who can financially support themselves without working in Spain, making it ideal for retirees.

This is what to keep in mind when thinking of the Non-Lucrative Visa:

• Minimal physical presence required to maintain residency: 6 months per year.
• Minimum financial requirement: The main applicant must have a stable passive income of €2,400 a month.
• Application processing time: 60 days (about 2 months) with the required information.
• Duration of Stay Required for permanent residence: Five years of legal residency.

The Golden Visa requires an investment in Spanish real estate or a business and provides residency for the investor and their family members. Spain’s rich cultural heritage, pleasant climate, and high quality of life make it a popular choice for those seeking a vibrant lifestyle.

• Minimum Invesment requirements: €500,000
• Application processing time: 9-12 months for a residency permit to be issued.
• Duration of Stay Required for permanent residence: Five years of legal residency.

Greece

Greece’s Golden Visa program is an excellent option for those interested in European residency. The program offers significant tax incentives and benefits for foreign nationals, making it an attractive choice for international investors.

It requires a real estate investment, which is comparatively lower than in other European countries. This program provides residency for the investor and their family members and allows visa-free travel within the Schengen Area. Greece’s stunning landscapes, historical sites, and relatively affordable cost of living make it an appealing destination for expatriates.

• Minimal physical presence required to maintain residency: No minimum stay required.
• Minimum Investment requirements: €250.000
• Application processing time: 2 to 3 months.
• Duration of Stay Required for permanent residence: Permanent residence is given immediately.

Panama

Panama has many visa options, such as the Panama-qualified-investor visa which offers a smooth path to residency for foreign investors. To qualify, investors must invest in real estate, securities, or a fixed-term bank deposit; therefore, for this route, some of the general requirements include the following:

• Minimal physical presence required to maintain residency: No minimum stay required.
• Minimum Invesment requirements: $300.000 but will increase in October 2024 to $500,000.
• Application processing time: Applications are fast tracked through the Special Processing Service Division of the Ministry of Commerce and Industries within 30 business days.
• Duration of Stay Required for permanent residence: Permanent residence is given immediately.

Panama is also known for its Friendly Nations Visa, which offers a simple and efficient pathway to residency to citizens of countries Panama recognized as friendly, which includes, the United Sates, Canada, and many European countries. The investment requires also vary, for instance, if someone has formed a company then no minimum investment is needed.

However, applicants must show proof of economical or professional ties including, a job offer from a Panamanian company, investment in real estate or fixed bank deposit. Applicants need to also demonstrate economic stability, by depositing at least USD $5,000 into a Panamanian bank account, plus an additional USD $2,000 for each dependent.

The process starts with filing an application with filing the initial application with the immigration office for a temporary residency permit. It usually takes 6 months (sometimes less) to resolve the initial application and then issue a provisional residency permit.

Once the provisional residency permit is issued, it is valid for two years. At the end of the two years the applicant can apply for permanent residence.

Generally, the visa requires a minimal financial investment and has a straightforward application process. Here is what to expect:

• Minimal physical presence required to maintain residency: No minimum stay required.
• Minimum Investment requirements: $200,000
• Application processing time: 6 (sometimes less) for the provincial permit to be issued.
• Duration of Stay Required for permanent residence: 2 years of legal residency.

Panama’s Pensionado Program is another attractive option for retirees, providing benefits such as discounts on various services. The country’s favorable tax environment, strategic location, and use of the U.S. dollar contribute to its popularity among expatriates.

It is important to note that holders of this visa can live indefinitely in Panama without the need of a work permit or other special authorization. However, this visa program does not allow holders to obtain Panamanian citizenship, meaning they will not be eligible for naturalization.

• Minimal physical presence required to maintain residency: No minimum stay required.
• Minimum financial requirements: €920 monthly income
• Application processing time: 3-6 months for a residency permit to be issued.
• Duration of Stay Required for permanent residence: Permanent residence is granted to retirees who meet the necessary income requirements.

Mexico

Mexico is also one the countries to get residency as it provides multiple residency options, including the Temporary Resident Visa and the Permanent Resident Visa. The Temporary Resident Visa is suitable for those wishing to stay for more than six months but less than four years, while the Permanent Resident Visa is for individuals looking to reside indefinitely.

For the Temporary Resident Visa here is what to keep in mind:

• Minimal physical presence required to maintain residency: No minimum stay required.
• Minimum financial requirements: Monthly income of about $3,100 for the past six months. Savings or investments of €47,500
• Application processing time: 4 weeks.
• Duration of Stay Required for permanent residence: 4 years of legal residency.

For the Permanent Resident Visa, retirees are the only ones who are eligible for these minimum financial requirements of €98,440 in investment or bank accounts is needed or a monthly income of €1,491 for 6 months. Every other applicant needs to go through the entire process and wait four years.

Mexico’s proximity to the U.S., affordable living costs, and diverse cultural experiences make it a favored destination for many. The simplicity of the application process and the country’s vibrant lifestyle further enhance its appeal. For U.S. citizens, Mexico is an accessible and attractive option due to its proximity and cultural similarities.

Costa Rica

Costa Rica has many streamlined paths to residency, such as a different proof of income options like a passive income visa. Costa Rica also has the Pensionado Program which is tailored for retirees with a stable pension income. This program requires proof of pension funds but does not demand a significant financial investment.

Costa Rica’s Pensionado Program simply needs:

• Minimal physical presence required to maintain residency: At least one day per year
• Minimum financial requirements: Permanent monthly income of about €920
• Application processing time: 3-6 months for a residency permit to be issued.
• Duration of Stay Required for permanent residence: 3 years of legal residency.

Costa Rica’s emphasis on ecological conservation, combined with its friendly local culture and high quality of life, makes it a desirable location for retirement. The country’s beautiful natural landscapes and commitment to environmental sustainability add to its attractiveness.

Malta

Malta offers a Golden Visa known as Malta’s Permanent Residence Program (MPRP)wh investment program that enables successful applicants to obtain a Certificate of Maltese Residence allowing them to be reside in Malta with family indefinitely.

The program provides significant tax incentives and a path to permanent residence, making it a favorable choice for many foreign expats. Malta also has an attractive citizenship-by-investment program as a possible route to citizenship.

Additionally, the Malta’s Permanent Residence Program (MPRP) grants access to the European Union and visa-free travel within the Schengen Zone. As well as special tax concessions depending on the applicants Invesment. This makes Malta one the easiest countries to get residency because it offers the option to purchase and rent property as a requirement.

The benefits of the Malta’s Permanent Residence Program (MPRP) are endless with access to excellent healthcare, education, and a high performing economy. If you are considering this option, here’s an overview of what to expect:

• Minimal physical presence required to maintain residency: No minimum stay required.
• Minimum Invesment requirements: Purchase property of €350,000 of rent for €10,000
•  Application processing time: 11-12 months for a residency permit to be issued.
• Duration of Stay Required for permanent residence: Permanent residency is given Immediately.

 Estonia

Estonia’s Digital Nomad Visa and e-residency programs cater to a modern, tech-savvy audience. The Digital Nomad Visa allows remote workers to live in Estonia while working for a foreign employer.

This Digital Nomad Visa makes Estonia one of the easiest countries to get permanent residency in Europe without investment because of it require low financial requirements. Here is a quick look into the process.

• Minimal physical presence required to maintain residency: No minimum stay required.

• • Minimum financial requirements: Monthly gross income of €4,500
  • Application processing time: 15-30 days (about 4 and a half weeks)

• Duration of Stay Required for permanent residence: 5 years for Temporary Residence Permit Holders

Additionally, the country emphasizes digital innovation, combined with its high quality of life and welcoming environment, makes it an appealing destination for digital nomads and entrepreneurs. The e-residency program further facilitates business operations for non-residents.

Canada

Canada offers several pathways to residency and makes it one of the easiest countries for U.S citizens to get residency. It offers the Express Entry system and Provincial Nominee Programs (PNP). These programs cater to skilled workers, entrepreneurs, and investors, making it a versatile option.

Furthermore, Canada is one of the countries to consider because it also positions itself as one the easiest English-speaking country to get permanent residency

In regard to visas, there are also other options like the Canada Start-up Visa and to become a citizen by investment. The Start-up Visa was created by the Government of Canada to attract innovative immigrant entrepreneurs to help build their businesses around the world.

Here is a brief overview of the Start-up Visa:

• Minimal physical presence required to maintain residency: No minimum stay required.
• Minimum Invesment requirements: Venture capital of CAD 200,000 and an angel investor with a minimum investment of CAD 75,000,00.
• Application processing time: 12-18 months.
• Duration of Stay Required for permanent residence: 3-5 years of legal residency.

Canada’s high quality of life, diverse culture, and strong economy are significant attractions. The country’s welcoming environment and excellent healthcare system further enhance its appeal. The process to obtain permanent residence in Canada is well-structured, providing numerous opportunities for skilled professionals and investors.

Belize

The Qualified Retirement Program provides a straightforward route to residency for retirees, from all Commonwealth countries, the United States and members of the EU. Belize’s official language is English, simplifying integration for many citizens around the world.

The country’s beautiful natural environment, combined with its relaxed lifestyle and friendly local culture, make it an attractive destination for retirement. The ease of obtaining residency and the country’s appealing lifestyle contribute to its popularity.

This is a look into what to expect when considering the Qualified Retirement Program:

• Minimal physical presence required to maintain residency: No minimum stay required.
• Minimum financial requirements: $2K monthly income or $24K annually in an approved foreign currency
• Application processing time: 1-3 months.
• Duration of Stay Required for permanent residence: 5 years of legal residency.

New Zealand

New Zealand’s points-based immigration system rewards skilled individuals and provides pathways to permanent residency. The country also offers an opportunity to grant permanent residence through their Active Investor Plus Program.

Although this investor program requires significant investment, it is worth considering as New Zealand offers a high quality of life, strong economy, and the friendly culture makes it a popular choice for English-speaking immigrants.

When looking into The Active Investor Plus Program here is what to expect:

• Minimal physical presence required to maintain residency: 117 days (about 4 months) over 4 years
• Minimum Investment requirements: Invest NZD 5 million and NZD 15 million in the New Zealand economy over four years.
• Application processing time: 5-6 months.
• Duration of Stay Required for permanent residence: 4 years of legal residency.

Australia

Australia’s points-based residency system, designed for skilled individuals, offers a clear route to permanent residency. The country does offer permanent residency through investment; however, this is only applicable to an Australian resident with an investor visa.

If obtaining permanent residency by investment in Australia is a possible option, here is what to look out for:

• Minimal physical presence required to maintain residency: 40 days (about 1 and a half months) per year
• Minimum Investment requirements: Currently have a designated investment oof AUD 1.5 million
• Application processing time: 22-30 months (about 2 and a half years).
• Duration of Stay Required for permanent residence: Permanent residency is automatically obtained.

Tips for Applying for Residency in a Foreign Country

Research and preparation

Thorough research and preparation are essential for a successful residency application. Understanding visa requirements, documentation, and the immigration process for your chosen country is crucial. Preparing in advance can streamline the application and increase the likelihood of approval. Consulting official resources and speaking with current residents can provide valuable insights. For many countries, obtaining residency requires careful planning and understanding of the application process and supporting documents.

Financial planning

Residency applications often involve various costs, including application fees, legal expenses, and potential investments. Budgeting for these expenses is crucial to avoid financial surprises. Understanding financial implications, such as minimum investment amounts or monthly income requirements, helps in making informed decisions. Setting aside extra funds for unforeseen costs, such as those related to managing a bank account or residence permits, can be beneficial.

Legal Assistance

Hiring an immigration lawyer or consultant can be advantageous for navigating the residency application process. Legal professionals provide valuable guidance, ensure compliance with requirements, and address challenges that may arise. Their expertise can streamline the process and improve the chances of a successful application. An experienced lawyer can manage the complexities of immigration procedures and offer personalized advice.

Cultural considerations

Preparing for cultural and lifestyle adjustments is important when relocating to a new country. Understanding local customs, culture, and everyday practices can ease the transition and enhance your experience. Engaging with local communities and learning the language can facilitate smoother integration. Embracing cultural differences enriches the experience and helps in feeling more at home.

Conclusion

Choosing the easiest country for residency involves considering visa requirements, financial aspects, and personal preferences. Portugal, Spain, Greece, Panama, Mexico, and Costa Rica stand out due to their accessible residency programs and favorable living conditions. Each offers unique benefits, such as affordable living, quick processing times, and flexible visa options. Evaluating these factors helps in making an informed decision based on individual needs and goals.

When evaluating residency options, consider personal goals and long-term plans. Factors such as lifestyle preferences, financial requirements, and potential benefits are crucial. Each country presents distinct opportunities and challenges, so choosing the right one requires careful consideration of individual needs and aspirations. Research and planning are key to a successful and fulfilling residency experience.

Exploring Visa and Immigration Options for Portugal

If you're considering making the move to Portugal, it's essential to be informed about the various visa and residency options available. The Golden Visa Portugal program is an attractive option for many, offering residency to investors and their families. For those eyeing retirement in this beautiful country, the Retirement Visa (D7) is tailored for you. Digital nomads can take advantage of both short and long stay options with the Nomad Visa (D8). Meanwhile, the NHR - Non Habitual Tax regime provides significant tax benefits for new residents. 

For the entrepreneurial spirit, Portugal offers the Entrepreneurship/startup Visa (D2) - Start-up Visa (open company) tailored for those looking to establish their businesses in the country. Those with specialized skills can explore the Work visa for highly qualified employees (D3). Additionally, if you have Portuguese ancestry, you might be eligible for Citizenship by descent. 

However, moving to a new country isn't just about visas. If you're thinking of buying property, our guide on Buying Property in Portugal can offer invaluable insights. Dive deeper into the immigration process with our comprehensive Portugal immigration guide. For Americans specifically looking to relocate, we have curated information on Americans moving to Portugal. Lastly, one can't forget the importance of the NIF (Tax Registration Number), a crucial step in any relocation process. 

FAQs

What are the easiest countries to get residency in Europe?

Portugal, Spain, Greece, and Malta are among the easiest European countries to obtain residency. Portugal’s D7 and Golden Visas, Spain’s Non-Lucrative and Golden Visas, and Greece’s Golden Visa offer accessible pathways. Malta’s Global Residency Program also provides favorable conditions. Each country has unique benefits and requirements for obtaining residency.

How can I get residency in Portugal?

Portugal offers several residency options, including the D7 Visa for retirees and those with passive income, and the Golden Visa for investors. The D7 Visa requires proof of sufficient financial resources, while the Golden Visa necessitates a real estate or business investment. Both paths provide access to Portugal’s attractive lifestyle and benefits.

What is the easiest way to get residency in Spain?

Spain’s Non-Lucrative Visa and Golden Visa are popular options. The Non-Lucrative Visa is ideal for retirees or those with independent income, while the Golden Visa requires an investment in real estate or business. Both visas offer residency and are relatively straightforward to obtain compared to other European countries.

How can U.S. citizens get residency in Mexico?

U.S. citizens can apply for either a Temporary Resident Visa or a Permanent Resident Visa in Mexico. The Temporary Resident Visa is suitable for longer stays but less than four years, while the Permanent Resident Visa is for indefinite residency. The process is relatively simple, and Mexico’s proximity makes it a popular choice.

What is the easiest country for retirees to get residency?

Costa Rica’s Pensionado Program is specifically designed for retirees and is considered one of the easiest options. It requires proof of pension income but does not demand a significant financial investment. Costa Rica’s high quality of life and favorable climate make it an attractive destination for retirees.

Can I get residency in Canada easily?

Canada offers several pathways for residency, including the Express Entry system and Provincial Nominee Programs (PNP). These programs cater to skilled workers, entrepreneurs, and investors, making them accessible to many. Canada’s high quality of life and strong economy contribute to its appeal to those seeking residency.