Residence permit in Europe: conditions, terms, and costs of obtaining

There are two types of residence permits: temporary and permanent.

A temporary residence permit must be renewed at certain intervals, such as once a year in Switzerland.

Permanent residency does not expire; you only need to renew your ID card every five years.

Permanent residence holders have almost the same rights as citizens of the state. They can live, work, run a business and enjoy benefits such as sending their child to school for free. The main limitation is that they can not participate in elections and hold public office.

Terms to get temporary or permanent residency

A residence permit allows its holder to come to the country at any time, buy real estate, educate children at local schools and universities, and take out health insurance.

Key opportunities for foreigners with a European residence permit:

1. Visa-free travel within the Schengen countries and the European Union if the residence permit is issued in an EU country.

2. Visiting the country that issued the residence permit without a visa, even with closed borders.

3. The opportunity to educate children in European educational institutions.

4. Tax optimisation.

5. Quicker opening of accounts in reliable banks.

6. The opportunity to use the services of the best clinics in Europe.

7. Transfer of business to a stable economic zone.

8. Buying real estate for living or leasing.

9. Purchase of a car or yacht with the possibility of registering movable property.

10. The prospect of obtaining permanent residence or citizenship in a few years.

Most ways to get a residence permit are associated with certain conditions: marriage, work or study. Also, a resident must live in the country for more than 183 days a year to maintain the status.

In 2023, the EU countries issued 3.7 million first residence permits, a 4,7% increase from 2022 and the highest number ever. According to Eurostat, 33,8% of permits were issued for work, 26,4% for family reasons, and 14,3% were issued to those who came to the EU to study, which is the general migration trend.

Conclude an employment contract. European employers are often interested in specialists unavailable in their countries. Specialists receive an EU Blue Card, an electronic certificate that confirms the right to live and work in one of the EU countries. However, Denmark, Ireland, and the UK do not issue Blue Cards.

This path is also suitable for foreigners who come for seasonal work.

Come to work remotely as a digital nomad. Remote employees of foreign companies, freelancers, the self-employed, and entrepreneurs may fall under special visas and residence permits.

Such applicants usually prove a sufficient income to live in a European country, have health insurance and rent or buy accommodation in the chosen state. Sometimes, showing savings in a bank account is required. The income requirements are from €2,700 in Spain and Italy to €3,500 in Malta.

Close family members could be included, but the terms vary from state to state.

Individual cost calculation for the Spain Digital Nomad Visa

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Reunite with the family. A foreigner can apply for reunification if his relative, e.g. a father or mother, has already received a residence permit. However, the applicant will have to prove that they are financially dependent on a relative with a European residence permit or, conversely, have a sufficient level of income.

Enrol in a university. A student residence permit is usually issued for 4 to 5 years. A foreigner who wants to stay in the country after graduation must quickly find a job and conclude an employment contract.

Buy a business or open a new one, as well as create several jobs in the country.

Create a family with a citizen of the country.Countries strictly monitor marriage to ensure that it is not fictitious. However, scammers often use this option, offering foreigners the opportunity to enter into a fictitious marriage with a European citizen.

Conduct official activities. This method suits diplomats, delegation members and international organisations' representatives.

Science. This type of residence permit is obtained by foreign employees who have entered into a contract with an organisation and will conduct scientific research for it.

Medical treatment. European countries issue residence permits for long-term treatment lasting 1—2 years. Such residence permit cards are usually not renewed.

Prove worth. A residence permit can be obtained for special services to the state or volunteer work. In special cases, the government may issue a residence permit for specific merit, such as helping the police to find dangerous criminals.

Prove financial independence. This path is available to those having passive income sources or savings enough to live in the chosen country and not rely on the local social benefits.

For example, Portugal requires a person to demonstrate at least €9,840 of yearly income coming strictly from passive sources, such as dividends or rental payments. In contrast, a financially independent person in Switzerland must conclude an agreement with a canton and pay a lump-sum tax.

Buy real estate. There are special programs in several European countries, with the minimum investment being €250,000.

Usually, to obtain residency, foreigners have to comply with immigration conditions: learn the state language, pass an exam on knowledge of the country’s history, or live in it for a certain number of years.

Wealthy people get residence permits by investment, as it’s faster and easier. Such offers are available in Portugal, Hungary, Greece, Malta, Cyprus, Spain, and Italy.

Requirements for applicants. The standard terms for investors are to be over 18, possess legal income sources, and have no criminal record or prosecution.

If a foreigner gets a residence permit by investment, they can add family members to the application. Each country sets its own rules. The spouse, children, and financially dependent parents often become residents with the investor.

Investment options. Countries offer to purchase real estate or investment fund units, open bank deposits, support local businesses, or donate to designated organisations.

The required investment amount usually starts at €250,000 but depends on the chosen option.

Timeframe. The procedure for obtaining a so-called Golden Visa takes at least 4 months. However, the application processing time depends on the workload of the migration service and other individual circumstances.

One or two years is the usual validity term of a temporary residence permit. However, depending on the obtaining grounds, it may reach 5 or even 10 years.

Renewal and residing requirements. If a residence permit is obtained under an investment program, there are preferential conditions for extending the status: for example, you do not need to live in the country permanently.

Residents of Portugal must spend only seven days a year in the country in order not to lose their residence permit status, and residents of Greece or Spain are not required to live in the country at all.

Austria

The Austrian government offers more than 10 ways for foreigners to obtain a residence permit, for example, for work or study. The easiest way is to get a residence permit for financially independent persons.

A financially independent person and their family members get residence permits per quota: Austria allocates 400 to 450 places annually. To obtain a residence permit, the applicant must prepare documents, register on the consulate website, and submit them on the date specified. All family members must be present when submitting documents.

The cost of obtaining residency starts at €100,000. The processing time is approximately 3 months.

Individual cost calculation for residency in Austria

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Belgium

Foreigners have six ways to get a residence permit in Belgium. Half of them are for wealthy citizens who are ready to invest in the country’s economy, open a company or develop a business.

Bulgaria

Bulgaria offers more than seven ways for foreigners to obtain a residence permit, including permanent residence, by investing €300,000 in real estate. Wealthy pensioners can also get a residence permit.

Croatia

Foreigners have more than seven ways to get a residence permit in Croatia. The country offers residence permits not only for contract workers but also for digital nomads.

Cyprus

The Republic of Cyprus issues more than 10 types of residence permits. The fastest way to get permanent residence is to invest in real estate under the state program. The minimum investment starts at €300,000, and participation in the program takes at least 9 months.

To obtain permanent residency in Cyprus, an investor buys residential or commercial real estate, shares of local companies or units of Cypriot investment funds. The most popular option is investing in residential real estate.

Examples of investment properties in Cyprus

Cyprus, Limassol

€695,000+

Apartments in a residential complex near the sea

78 m²

2

1

Cyprus, Limassol

€419,000 — €519,000

Apartments in a unique closed residential eco-project

96 m² — 127 m²

2—3

2—3

Cyprus, Limassol

€1,060,000+

Apartment in a luxury residence with guaranteed return

110 m² — 111 m²

1

1

Czech Republic

The Czech Republic offers foreigners 15 ways to obtain a residence permit, including by investment. Applicants need to invest at least CZK 75 mln, or about €2,900,000, in the country’s economy.

Denmark

Denmark offers foreigners more than eight ways to obtain a residence permit, most related to work. Researchers, startup founders, and famous representatives of their professions, such as artists or athletes, can obtain a residence permit.

Estonia

A foreigner can get a residence permit in Estonia for work, study, for scientific or entrepreneurial activities, as well as for other reasons. There are more than six of them.

Finland

Finland offers more than seven ways for foreigners to obtain a residence permit. Entrepreneurs receive a residence permit if they have a Business ID. To do this, a foreigner registers a business in the country.

A residence permit can also be obtained if one of the parents or grandparents is a Finnish citizen by birth.

France

France issues 11 types of residence permits to foreigners. Most of them are for wealthy people and highly qualified specialists.

France has a residence permit program. Investors over 18 years old, with official income and no criminal record, can participate in the residence permit program. Together with them, family members receive the status: spouses, partners without marriage registration and children under 18 years of age.

Investors can choose from three investment options:

• €300,000+ of investment in a new or operating company;

• €30,000+ for the creation of a new business;

• €20,000+ for the creation of an innovative startup.

How to get French citizenship or residence permit by investment

Germany

Germany offers more than 12 ways for foreigners to get a residence permit in the country. For example, IT specialists, entrepreneurs, and scientists can apply for a residence permit.

Greece

Greece offers residence permits to investors, financially independent persons, and students and foreigners who come to countries to work on a contract basis.

One can get a Greek Golden Visa by investing at least €250,000. The term for obtaining a residence permit is 4+ months. To become residents of the country, investors:

• buy properties;

• rent a hotel or tourist residence for 10 years;

• participate in timeshare;

• purchase units of investment funds and bonds;

• open bank deposits;

• make capital investments in Greek companies.

Individual cost calculation for residence by investment in Greece

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Hungary

One can get a residence permit in Hungary, for example, for work or study, family reunification, or treatment. There are over 20 ways to do this, most of them related to work.

Digital nomads can get a White Card granting residency for a year, which is extendable for another year. The main condition is earning at least €3,000 per month. Family members cannot be included in the application.

Entrepreneurs can get residency by opening a company in Hungary. The authorised capital must be at least €7,700. In this case, the residence permit is granted for 1 year subject to extension for 2 more years. The entrepreneur’s spouse, children, and parents can become residents a year later when the main applicant renews their permit.

The Hungary Golden Visa is an opportunity for investors to get a 10-year residence permit renewable once for 10 more years. The minimum investment is €250,000 for the option with a purchase of investment fund units. For real estate, available under the Golden Visa from January 1st, 2025, the minimum investment is €500,000.

Individual cost calculation for residence by investment in Hungary

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Ireland

Foreigners can obtain a residence permit in Ireland through more than 10 options, most of which are work-related. Medical workers, scientists, and sailors, as well as foreigners who are ready to invest €500,000, can obtain a residence permit.

Italy

Italy offers more than 11 ways for foreigners to obtain a residence permit, including offers for financially independent people, digital nomads, and investors.

Digital nomads earning at least €32,400 per year, which is €2,700 per month, are eligible for a special 1-year residence permit. Other requirements include renting or purchasing accommodation in Italy and savings of at least €30,000. The nomad’s remote work experience must exceed 6 months before application.

The Italy Golden Visa is suitable for those wishing to get 2-year renewable residence permits for the whole family by:

• supporting an innovative startup with at least €250,000;

• purchase shares of an Italian company for at least €500,000;

• donate to a philanthropic organisation at least €1,000,000;

• or buy government bonds for at least €2,000,000.

Individual cost calculation for residence by investment in Italy

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Latvia

Latvia offers foreigners about 12 ways to get a residence permit.

Wealthy foreigners become Latvian residents by investing in company equity capital, purchasing real estate, purchasing shares, or contributing to the subordinated capital of credit institutions.

Lithuania

A foreigner can get a residence permit in Lithuania for study, work or investment. There are more than 15 ways in total. Investors can get a residence permit if they offer an idea for a startup or invest in a business of at least €260,000.

Luxembourg

A residence permit in Luxembourg is issued for 18 reasons, most of which are for work. Investors obtain residence permits by supporting a local business with at least €500,000. They must also create a head office in the country and at least five jobs.

Malta

Malta issues 10 types of residence permits, including ones for investors.

There are two government programs for investors in the country. According to one of them, investors get temporary residence permits and permanent residence according to the other. Participation in the programs is the fastest and easiest way to obtain a residence permit in Malta.

The Malta Global Residence Program allows investors to obtain a residence permit in Malta by investment and a special tax status. The cost of obtaining the status starts at €30,000. The processing time is 3+ months.

The program has three prerequisites. An investor:

1. Buys or rents a home. The minimum investment in real estate is €220,000+ when buying and €8,750+ per year when renting.

2. Pays a tax of 15% on income received outside of Malta and transferred to the country. The minimum tax amount is €15,000 per year.

3. Pays an administrative fee of €5,500 to €6,000, depending on the region of the country where the property is bought or rented.

When an investor gets a residence permit in Malta, they become a tax resident of the country.

Individual cost calculation for residence by investment in Malta

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The Malta Permanent Residence Program allows foreigners to obtain lifelong residency by investing at least €150,000. The process of obtaining the status takes 6+ months.

The conditions for obtaining are the following:

1. Rent a property for €10,000+ per year in the south of Malta or Gozo or €12,000+ per year in another region. Buying accommodation requires at least €300,000+ in the south of Malta or Gozo and €350,000+ in other regions. The minimum period of ownership or lease of real estate under the program is 5 years.

2. Pay a one-time administrative fee of €40,000.

3. Pay a government fee of €28,000 when buying a property or €58,000 when renting.

4. Make a non-refundable contribution to a non-governmental organisation of €2,000.

5. Confirm the existence of assets in the amount of €500,000 or more: the investor proves that he has capital at his disposal, including financial assets with a value of €150,000 or more.

6. Get a health insurance policy with coverage for all EU countries. The cost of insurance starts at €400 per person.

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Netherlands

The Netherlands offers more than seven ways for foreigners to obtain a residence permit. One of them is for applicants who invest in a company or an investment fund of at least €1,250,000. The company or foundation must be registered and operating in the Netherlands.

Poland

Foreigners can obtain a residence permit in Poland in more than seven ways. The procedure for obtaining status is simplified for participants in the state Poland Business Harbor program. Residence permits under the program are issued to IT specialists, startup founders, and IT entrepreneurs.

Portugal

There are many ways to get a residence permit in Portugal, such as marrying a citizen of the country. There are more than eight options in total.

Portugal’s D7 Visa is available to foreigners with a stable passive income. The eligible sources are, for example, dividends, interest, and rentals. The required amount must exceed the Portuguese minimal salary, which is €820 per month in 2024.

The residence permit is granted for 2 years and may be renewed.

Family members can get permits, too; eligibility covers spouses, children under 21, and parents.

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The Digital Nomad Visa is designed for employees of foreign companies, freelancers, and entrepreneurs. To qualify, they must:

1. Buy or rent a residential property in Portugal.

2. Prove a monthly income of at least €3,280.

3. Demonstrate enough savings to live in Portugal for a year, which is at least €9,840.

The main applicant can include and get residence permits for their spouse, children under 30, and parents.

The first residence permit is granted for 2 years, subject to renewal. To maintain residency, the digital nomad must spend most of the year in Portugal.

The Golden Visa is an option for wealthy foreigners. Applicants invest in the country’s economy at least €250,000 and obtain 2-year residence permits.

The advantage is that the investor does not have to live in Portugal permanently to maintain and renew residency; it’s enough to spend 7 days a year in the country.

Applicants choose from 5 investment options:

1. Support of culture and art in the amount of €250,000.

2. Investments in scientific projects of at least €500,000.

3. Purchase of shares in investment funds worth at least €500,000.

4. Investments of at least €500,000 in a business with the creation of 5 jobs;

5. Opening a company with the creation of 10 jobs.

Individual cost calculation for residence by investment in Portugal

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Romania

Romania offers foreigners more than eight ways to obtain a residence permit. Investors can get the status if they invest in the country’s economy at least €200,000.

Slovakia

Slovakia issues more than 10 types of residence permits to foreigners. All of them are standard for EU countries and are valid for study, work, or treatment.

Slovenia

Foreigners can obtain a residence permit in Slovenia according to one of six types. Entrepreneurs can open a limited liability company, a subsidiary or a representative office in the country. The authorised capital must be at least €7,500.

Sweden

Sweden issues more than eight types of residence permits to foreigners. For example, for work, treatment or visiting relatives in the country. There are no business options.

Spain

Spain offers more than 10 ways to get a residence permit, including ones for digital nomads and investors.

Digital nomads must earn at least €2,646 to qualify for a 1-year visa, which allows them to apply for a 3-year residence permit upon expiration.

The spouse, children, parents, grandparents, and siblings may join the main applicant if they meet specific conditions.

However, certain requirements apply to the applicant’s remote work. For example, the digital nomad must be employed by or provide services for legal entities only. In the case of a foreign employer, the work agreement must specify the possibility of working remotely. For freelancers, only 20% of income can come from Spanish clients.

The Spain Golden Visa is a 3-year residence permit granted in exchange for investing in:

• real estate worth at least €500,000;

• shares of Spanish companies, investment fund units or a bank deposit — at least €1,000,000;

• government bonds — at least €2,000,000;

• a new business with no stipulated investment amount.

Residence permits are available for the investor’s spouse, children, and parents.

To maintain or renew the residence permit, living in Spain isn’t required, but the investment asset must be kept in ownership.

Examples of investment properties in Spain

Spain, Algorfa

€565,000+

Modern villa with pool on the south-eastern coast of Sardinia

180 m²

4

2

Spain, Marbella

€1,884,000 — €4,284,000

Luxury apartments on the coast of Spain

223 m² — 553 m²

2—4

2—4

Spain, Marbella

€4,900,000 — €8,163,000

Designer villas with panoramic view on the Mediterranean sea

788 m² — 1,260 m²

4—5

4—5

Albania

Albania issues more than eight types of residence permits to foreigners. Depending on the purpose, a residence permit card can be single-entry or renewable.

Andorra

Andorra offers foreigners two options for obtaining a residence permit: active and passive. The “active” method assumes that the applicant lives and works in the country, while the “passive” method assumes that the applicant’s main sources of income and activities are outside Andorra.

To obtain a residence permit in Andorra, an investor buys real estate and makes a security deposit. The minimum investment amount is €600,000.

Individual cost calculation for residence by investment in Andorra

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Bosnia and Herzegovina

Bosnia and Herzegovina issues more than seven types of residence permits to foreigners in the country. For example, for work, study or treatment. Also, a residence permit card is issued to those who own property in the country.

Iceland

Foreigners can get one of 10 types of residency in Iceland, for example for family reunification, study or work.

Monaco

Monaco offers five options to obtain a residence permit. One of the ways is a residence permit by investment.

Before submitting documents for residency, the applicant must obtain a long-term Schengen visa category D at the nearest French consulate to their place of residence.

To maintain residency, it is important to live in the country for at least 183 days a year. If the resident violates this condition, the card will not be renewed.

Montenegro

Montenegro offers foreigners eight options for obtaining a residence permit. One condition is that the applicant must come to the country to apply for the status.

North Macedonia

North Macedonia offers more than eight ways to obtain a residence permit. For example, for study, practice or work.

Norway

Norway issues more than 11 types of residence permits to foreigners. Among them are residence permits for work, study, and special residence permits for those who want to work in Northern Norway.

Serbia

Foreigners can get a residence permit in Serbia for work or treatment, as well as for other reasons. There are more than eight of them, including for the purchase of real estate. To do this, a foreigner needs to provide documents confirming the right of ownership, for example, an extract from the state register.

Switzerland

Switzerland offers foreigners four ways to obtain a residence permit in the country. The easiest way is to prove financial independence.

The applicant confirms that they have enough money for permanent residence in Switzerland. They also conclude an agreement with one of the cantons for the payment of ₣450,000, a yearly lump-sum tax. The procedure for obtaining a residence permit takes 3+ months.

Turkey

Turkey issues more than 10 types of residence permits to foreigners. For example, Investors can become residents after purchasing real estate.

Turkey also has a citizenship investment program: to obtain a passport, investors most often buy real estate worth at least $400,000 or more. The process takes 8+ months.

Examples of investment properties in Turkey

Turkey, Izmir

$1,000,000+

Two-floor villa with a swimming pool near the sea

140 m²

3

3

Turkey, Istanbul

$280,000 — $2,020,000

Furnished apartments in a prestigious area of Istanbul

55 m² — 200 m²

1—3

1—3

Turkey, Istanbul

$124,000 — $510,000

Apartments and commercial premises in a premium residential complex

40 m² — 162 m²

2—3

1—2

United Kingdom

The United Kingdom offers more than 10 ways to obtain a residence permit. The government issues special residence permits to businessmen who open an innovative or a startup company in the country.

1. European countries may grant two types of residency: temporary or permanent.

2. The main reasons for getting a temporary residence permit are work, family reunification, and study. However, each country usually offers many more grounds, such as the desire to work remotely, relocate as a financially independent person or invest in the country’s economy.

3. Temporary residence permits are usually valid for 1—2 years. Though, in special cases, their validity may be 5—10 years, like Greek and Hungarian residence permits for investors.

4. Permanent residency is a lifelong status usually obtained after several years of living in the country with a temporary residence permit. However, investors may immediately become permanent residents, for example, in Malta or Cyprus.

5. Becoming an EU resident makes it possible to travel the Schengen Area visa-free, relocate to the region, ensure access to quality education and healthcare, optimise taxation, and qualify for citizenship in a few years.