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Compare Residencies

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Comparison table

Residencies

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Residency options compared by presence, investment, family, tax, renewal, and lifestyle fit.

Cyprus Malta Portugal Spain Uruguay Panama Greece United Arab Emirates

Criteria	Cyprus	Malta	Portugal	Spain	Uruguay	Panama	Greece	United Arab Emirates
Permanent Residency by Investment	Yes, among the many benefits, applicants have the fastest processing times among ICC programs in Europe. In the worst case, the process takes one year, which is the minimum it takes in Malta, for example. You get direct citizenship for an investment of 2,150,000 euros or residency for a smaller investment, which can bring significant benefits considering the state of Cypriot funds and the real estate market. In addition, you get a passport that gives you the immediate right to live, work, invest and enjoy your life in any of the 28 EU states, and also visa-free access to over 170 countries.	Yes, the country has two programs for investors: the global residency program and the individual investor program. The first provides residency and the second citizenship. Both programs seek to attract FDI to the island and finance social projects in the country.	Yes. Temporary Residency has to be renewed after 1st, 3rd year and after 5th year it's possible to apply for Permanent Residency.	Yes. In case of Golden Visa, Temporary Residency has to be renewed after 2 years. After additional 5 years can be issued a Permanent Residency Card.	No.	Yes. Firstly the individual can apply for temporary residency and after 2 years can apply for permanent residency. Minimum investment: 160,000USD.	Yes.	Yes, the investment immigration program (iip) was introduced in Ireland to give non-EU investors the opportunity to relocate to Ireland. By making an investment in Ireland, investors can obtain the right, for themselves and their families, to reside, study or work within the island.
Residency by Real Estate Investment (Golden Visa)	Yes, but the investment must be made up of a maximum of two new real estate properties that together reach 300.000 EUR	Yes.	Minimum investment 280,000 EUR + TAX for old properties built over 30 years ago in low density area or 500,000 EUR without any restriction. Mandatory period of 5 years.	Minimum investment 500,000 EUR + TAX. The funds cannot come from tax haven countries.	No.	Minimum investment 300,000 USD. Mandatory period 3 years. It can be combined with Bank Fix term deposit.	Minimum investment 250,000 EUR + TAX. Permanent Residency is renewable every five years as long as the holder still owns the property in Greece. Until applicant becomes Greek citizen.	Yes, but it cannot be for personal use. The minimum investment should be €2,000,000 and exclusively by collective fund specialized in real estate investment min 60 %.
Residency by Fund Investment	300,000 EUR	330,000 EUR in rented properties 550,000 EUR in purchased properties	Minimum investment 350,000 EUR in share of venture capital fund or in share capital of a company with 5 permanent employees or 1,000,000 EUR into Portuguese financial institution (Fixed Term Bank Deposit).	Minimum investment EUR 2,000,000 in Spanish bonds (at least for 5 years), EUR 1,000,000 in shares of fund or in share capital of a real company, or 1,000,000 EUR into Spanish financial institution (Fixed Term Bank Deposit).	No.	Bank fix term deposit (300,000 USD). Mandatory period 3 years.	Minimum investment in Fixed term deposit or government bonds for 400,000 EUR or 800,000 EUR in corporate bonds. Mandatory period of 3 years.	1,000,000 EUR
Residency by other type of investment	Investment in agriculture, mining, and professional activities if carried out on own account	Government bonds, publicly traded securities, contributions, and purchase or lease of real estate	Incorporate/acquire company with 10 employees, or invest 350,000 EUR in research activities, or donate 250,000 EUR in artistic sector.	Entrepreneur Visa. The business project must be approved by the government and has to involve general interest for Spain.	No.	Reforestation (85,000 USD), Operating Panamanian Company (160,000 USD). Mandatory Period 3 years.	Rental Agreement in hotel and tourist industry for a minimum of 10 years.	Banking services, government bonds, enterpreneur and stock exchange.
Possibility to acquire residency with no investment	Yes, visa for students, work, and entrepreneurs	Yes, student and work visa	Yes. Visa for professionals, students, entrepreneurs, visa for family reunification or for retirees.	Yes. Visa for professionals, students, entrepreneurs, for family reunification or for retirees. The last option requires passive income (EUR 2,130/month).	Yes. Temporary residency for professionals, executives, students, religious people. Permanent residency proving the spirit of permanency by company's ownership or permanent employment in Uruguay or proving citizenship of Mercosur countries (Argentina, Brazil, Paraguay, Venezuela) or proving to be relatives of Uruguayans.	Yes, applying by Professional Visa, by Retirement visa (1000 USD/month annuity), or by Friendly Nation Program. Only for the citizens from: Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Holland, Hong Kong, Hungary, Ireland, Israel, Italy, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico, Monaco, Montenegro, New Zealand, Norway, Paraguay, Poland, Portugal, Republic of Korea, Republic of San Marino, Serbia, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, United Kingdom, United States of America, Uruguay.	Yes. Financially Independent Persons (FIP) route, through which Non-EU financially independent persons who can demonstrate sufficient funds (min 24, 000 EUR/year) to cover living expenses in Greece can obtain residency permit issued for a two-year period.	Yes, visa for students, and for work.
Who can apply for resident permit	Spouse and children, children under 25 years if they are single, they are financially dependent on the applicant and they are full-time students	Investor over 18 years old, spouse, children under 26 if (i) they are single (ii) financially dependent on the applicant, parents, grandparents.	Investor 18+, spouse or unmarried partner, children older than 18 enrolled in a University, parents, and grandparents.	Investor 18+, spouse or unmarried partner, children over 18 years enrolled with health problem, parents, and grandparents.	Investor 18+, spouse or unmarried partner, children (no maximum age), parents/grandparents.	Investor 18+, spouse, children under 25, parents.	Investor 18+, spouse, children under 21, parents, grandparents.	Investor 18+, spouse and children, children with the condition that they are financially dependent on the applicant.
Approximate cost of everything for family	30.000 EUR	30,000 EUR	From 7,000 USD.	From 7,000 USD.	From 3,000 USD. It will depend on each migration category and number of family members.	From 7,000 USD. It will depend on each migration category, dependent members and their age.	18,000 USD (+3,000 USD for each additional dependent).	51,000 EUR
Minimum stay requirement	You must visit Cyprus once every two years	Post-approval visit for biometric information	No less than 7 days in the first year, and no less than 14 days in each of the following 2-year cycles. (7 days-1st year, 14 days-next 2 years, 14 days-next 2 years).	1 day a year.	No minimum stay requirement for Mercosur citizens, but will be necessary for other categories. For permanent residency no minimum period required, but spirit of permanency.	In most cases 1 day a year. After receiving Permanent residency 1 day every 2 years.	No minimum stay requirement.	The applicant is required to reside in Ireland.
Process time frame	2 - 3 months	Initial approval of 4-6 months	4-5 months.	2-5 months.	1 month.	3-4 months.	2-3 months (takes 1-2 months more if buy property on the islands).	4 - 6 months.
Work Permit	You cannot work but you can own a company	No.	Yes, by Golden Visa with real estate investment.	Yes. It is renewable every 2 years in case of Golden Visa.	Permanent residency enables to work.	Yes, can be required separately in case of Friendly Nations Visa, Professional Visa.	Yes, by Golden Visa with real estate investment. The applicant cannot work if apply as Financially Independent Person (FIP).	Yes.
Lifestyle level rating [1 to 10]	10	8	9	9	8	9	8	10
Time to Citizenship	9 - 12 months	12 months	5 years (requires test of language).	10 Years. Exemptions: for individuals with Spanish parents or grandparents or the citizens with 2 years of effective residency in Spain which are included in the following list of countries: Argentina, Bolivia, Brazil, Colombia, Costa Rica, Cuba, Chile, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela.	It's not possible to obtain Uruguayan nationality by investment or permanent residency (naturalization), but it's possible to require "legal citizenship" maintaining the original nationality. The Uruguayan passport will show your previous nationality.	Eligibility after 1-7 years (Requires test of language). Usually 5 years after receiving permanent residency you can begin the process of naturalization. There are exceptions for applicants with Panamanian child or spouse (after 3 years) or being citizen of special countries, such as: Spain, Mexico, Argentina, Ecuador, Nicaragua, Honduras, Peru (after 2 years), Colombia, El Salvador (after 1 year).	Eligibility to apply for citizenship after 7 years of legal residence (requires test of language).	5 years.
Tax on worldwide income	Residents of Cyprus are taxed on worldwide income. Certain income, such as bank interest and dividends, is taxable in the form of defense contributions. Rental income is subject to both income tax and defense contributions. Your first 19.500 EUR of income is tax-free. Tax rates then start at 20% and rise progressively to 35% for income over 60.000 EUR. Foreign pension income receives special treatment here, and you choose how it is taxed each year: (i) at a flat rate to 5% on the excess of 3.420 EUR, or (ii) at the normal scale rates of income tax. Special rates apply for non-dom residents: 50% credit on income tax and exemptions on capital gains and rental income.	Malta taxes individuals who are both domiciled and ordinarily resident in Malta on their worldwide income. Any person who is ordinarily resident in Malta but not domiciled in Malta is taxable only on income arising in Malta and on any foreign income remitted to Malta. However, persons who are married to an individual ordinarily resident and domiciled in Malta, are subject to a worldwide basis of taxation (and not on a source and remittance basis). A non-resident individual is taxed only on income and chargeable gains arising in Malta.	Portuguese tax residents are taxed on worldwide income (up to 48%), but if the individuals haven't been tax residents in Portugal in the previous 5 years, they may request a special non-habitual residency status for 10 years. This special regime exempts worldwide employment income, retirement income and passive income (dividends, interests, royalties) in case they were already taxed on the original source in the foreign country as long as the country is not blacklisted. Additionally, Portugal offers a special regime for high added value professionals with fixed 20% tax on their local income. (architects, artists, professors, engineers, tax consultants, doctors, investors etc.). Portugal is one of the few countries that don´t apply inheritance tax.	Spanish tax residents are taxed on worldwide income (up to 48%). Passive income and capital gain (dividends, interests, royalties) are subject to progressive tax (from 19% to 23%). The individual can opt to special tax residency paying only 24% on his/her income up to EUR 600,000 in case he/she hasn´t been a Spanish Tax resident in the previous 10 years and is hired by foreign company. Otherwise, they can recognize tax credits applying a huge amount of treaties to avoid double taxation.	Uruguayan tax residents are taxed on worldwide income, with exception on capital gains derived from assets located abroad. Entities or branches with permanent establishment are taxed only on income sourced in Uruguay. However, the foreigners with Uruguayan tax residency can opt to "Holiday Tax Regime" for 5 years (which probably will be extend up to 10 years) paying taxes only on local income. After this period, personal income is taxed at progressive rate up to 36%, dividends and interest at 7%, capital gain only on local assets 12%.	There is no worldwide income taxation. Residents and non-residents are taxed only on Panama-sourced income (up to 25%). Only a 5% dividend tax is applied to the company incorporated in Panama with foreign income.	Greek tax residency is based on worldwide income. However, the applicants which haven't been tax resident in the previous 7 of the last 8 years and have made investment at least 500,000 EUR in real estate, security, or shares in legal entities in Greece can choose to be subject to an alternate tax regime paying a flat tax (100,000 EUR/year) on foreign income and paying progressive tax rate (up to 54%) on Greek-source income. The eligibility is for a maximum 15 years without need to justify origin and without inheritance/donation tax on the foreign funds. NOTE: As of 1 January 2020, buying real estate in Greece will be VAT-exempt. The 24% VAT on new properties will be suspended for three years on all unsold properties whose building permits were issued after 1 January 2006.	Individuals resident and domiciled in Ireland are subject to tax on their income worldwide. Individuals who are resident, but not domiciled, are subject to Irish tax on income of Irish origin, income from employment abroad in respect of Irish customs duties, and income from employment abroad and income from investment abroad to the extent that it is remitted to Ireland. Non-residents are taxed only on their income of Irish origin.
Tax Residency Option	The individual is considered to be a Cyprus tax resident if he spends 183 days in Cyprus or 60 days under certain conditions, such as not spending more time in any other jurisdiction.	The individual is considered to have tax residency in Malta when he spends more than 183 days/year only on income earned in Malta subject to a minimum annual tax of EUR 15,000 (with a progressive tax rate of maximum 35%)	The individual is considered a tax resident after having spent more than 183 day in the solar year or holding main residence in Portugal buying or renting a house.	The individual is considered a tax resident if he/she spends more than 183 days/year or if he/she establishes the center of business or personal interest (spouse and kids) in Spain. The tax residency cannot be changed to low tax jurisdictions at least for 4 years.	The individual is considered tax resident after having spent more than 183 days a year in the country or proving the center of economic or vital interests in the country. From July 1st, 2020 it will be possible to obtain tax residency with only 60 days effective permanence on Uruguayan territory investing USD 370 000 in Real Estate or USD 1 600 000 in local business with more than 15 employees.	Personal Tax Residency can be acquired living more than 183 day a year or establishing your permanent housing with all your family. Corporate Tax Residency can be obtained proving central management in Panama.	The individual is considered a tax resident in Greece if he/she lived more than 183 days a year or established his/her center of vital interests in the country.	The individual is considered to have tax residence in Ireland if he spends more than 183 days/year in Ireland.
Blacklist Country (OCDE)	Yes.	No.	No.	No.	No.	Yes.	No.	No.
Double Taxation and Information Exchange Agreements	Cyprus has 65 Double Taxation Agreements in force: Andorra, Armenia, Austria, Azerbaijan, Barbados, Belarus, Belgium, Bosnia, Bulgaria, Canada, China, Czech Republic, Denmark, Egypt, Estonia, Ethiopia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, India, Iran, Ireland, Italy, Jersey, Kazakhstan, Kingdom Of Bahrain, Kuwait, Kyrgyzstan, Latvia, Lebanon, Lithuania, Luxembourg, Malta, Mauritius, Moldova, Montenegro, Norway, Poland, Portugal, Qatar, Romania, Russia, San Marino, Saudi Arabia, Serbia, Seychelles, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Syria, Thailand, Guernsey, Ukraine, United Arab Emirates, United Kingdom, United States of America, Uzbekistan.	Malta has 79 Double Taxation Agreements in force: Albania, Andorra, Australia, Austria, Azerbaijan, Barbados, Bahrain, Belgium, Botswana, Bulgaria, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Georgia, Germany, Greece, Guernsey, Hong Kong, Hungary, Iceland, India, Ireland, Isle of Man, Israel, Italy, Jersey, Jordan, Korea (Republic Of), Kosovo, Kuwait, Latvia, Lebanon, Libya, Liechtenstein, Lithuania, Luxembourg, Malaysia, Mauritius, Mexico, Moldova, Monaco, Montenegro, Morocco, Netherlands, Pakistan, Poland, Portugal, Qatar, Romania, Russia, San Marino, Saudi Arabia, Serbia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Syria, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States of America, Uruguay, Vietnam. And 4 Tax Exchange Information Agreements: Bahamas, Bermuda, Cayman Islands and Gibraltar.	Portugal has in force 66 double taxation agreements (DTAs) with the following countries: South Africa, Germany, Algeria, Austria, Barbados, Belgium, Brazil, Bulgaria, Cape Verde, Canada, Chile, China, Cyprus, Colombia, Korea, Cuba, Denmark, United Arab Emirates, Slovenia, Spain, United States of America, Estonia, Finland, France, Greece, Guinea-Bissau, Netherlands, Hong Kong, Hungary, India, Indonesia, Ireland, Iceland, Israel, Italy, Japan, Kuwait, Latvia, Lithuania, Luxembourg, Macau, Malta, Morocco, Mexico, Mozambique, Norway, Panama, Pakistan, Peru, Poland, Qatar, UK, Czech Republic, Republic of Moldova, Slovak Republic, Republic of Uruguay, Romania, Russia, Singapore, Sweden, Switzerland, Timor-Leste, Tunisia, Turkey, Ukraine, Venezuela.	Spain has in force 88 treaties with the following countries: Albania, Algeria, Andorra, Argentina, Armenia, Australia, Austria, Barbados, Belgium, Bolivia, Bosnia and Herzegovina, Brazil, Bulgaria, Canada, Chile, China, Colombia, Costa Rica, Croatia, Cuba, Cyprus, Czech Republic, Denmark, Dominican Republic, Ecuador, Egypt, Estonia, Finland, France, Georgia, Germany, Greece, Holland, Hungary, Iceland, India, Indonesia, Iran, Ireland, Israel, Italy, Jamaica, Japan, Kazakhstan, Kuwait, Latvia, Lithuania, Luxembourg, Macedonia, Malaysia, Malta, Mexico, Moldova, Morocco, New Zealand, Nigeria, Norway, Oman, Pakistan, Panama, Philippines, Poland, Portugal, Romania, Russian Federation, Saudi Arabia, Senegal, Serbia, Singapore, Slovakia, Slovenia, South Africa, South Korea, Sweden, Switzerland, Qatar, Thailand, El Salvador, Trinidad and Tobago, Tunisia, Turkey, UK, United Arab Emirates, United States, Uruguay, Uzbekistan, Venezuela, Vietnam.	Uruguay has in force the following agreements: Double taxation agreement (DTAs): Argentina, Belgium, Chile, Ecuador, Finland, Germany, Hungary, India, Liechtenstein, Luxemburg, Malta, Mexico, Paraguay, Portugal, Romania, Singapore, South Korea, Spain, Switzerland, United Arab Emirates, United Kingdom. Tax information exchange agreement (TIEAs): Australia, Canada, Denmark, France, Faroe Island, Jersey, Greenland, Iceland, Holland, Norway, South Africa, Sweden.	Panama has in force the following agreements: Double taxation agreement (DTAs): Barbados, Czech Republic, Holland, Ireland, Israel, Italy, France, Luxemburg, Qatar, Portugal, Singapore, Spain, South Korea, United Arab Emirates, United Kingdom, Vietnam. Tax information exchange agreement (TIEAs): Canada, Denmark, Finland, Faroe Island, Greenland, Iceland, Norway, Sweden, United States.	Greek tax residents are protected under 57 Treaties with the following countries: Saint Marino, Azerbaijan, Egypt, Albania, Armenia, Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Czech Republic, France, Finland, Germany, Denmark, Switzerland, Estonia, United Arab Emirates, United States of America, United Kingdom, India, Ireland, Iceland, Spain, Israel, Italy, Canada, Qatar, China, Korea, Kuwait, Croatia, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Morocco, Mexico, Moldova, Norway, Republic of South Africa, Netherlands, Hungary, Uzbekistan, Ukraine, Poland, Portugal, Romania, Russia, Saudi Arabia, Serbia, Slovakia, Slovenia, Sweden, Turkey, Tunisia.	Ireland has 75 Double Taxation Agreements with Albania, Armenia, Australia, Austria, Bahrain, Belarus, Belgium, Bosnia & Herzegovina, Botswana, Bulgaria, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Ethiopia, Finland, France, Georgia, Germany, Ghana, Greece, Hong Kong, Hungary, Iceland, India, Israel, Italy, Japan, Kazakhstan, South Korea, Kuwait, Latvia, Lithuania, Luxembourg, Macedonia, Malaysia, Malta, Mexico, Moldova, Montenegro, Morocco, Netherlands, New Zealand, Norway, Pakistan, Panama, Poland, Portuguese, Qatar, Romania, Russia, Saudi Arabia, Serbia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Thailand, Turkey, United Kingdom, United Arab Emirates, Ukraine, Uzbekistan, United States Of America, Vietnam, and Zambia. It has 23 Tax Information Exchange Agreements: Anguilla, Antigua & Barbuda, Argentina, Belize, Bermuda. British Virgin Islands, Cayman Islands, Bahamas, Cook Islands, Dominica, Gibraltar, Grenada, Liechtenstein, Macao, Marshall Islands, Montserrat, Samoa, Saint Kitts and Nevis, San Marino, Saint Lucia, Saint Vincent and The Grenadines, Turks and Caicos Islands, and Vanuatu.