In this article, we will explore the 6 Easiest Countries to get a Residence Permit. Alternatively, if you're looking for a quick overview, you can skip to the section highlighting the 5 Easiest Countries to obtain a Residence Permit.

The concept of international mobility and the allure of establishing a secondary residence in another country for work and living purposes have gained significant traction over the years. While immigration and citizenship laws have become more accommodating in many countries (refer to our article on the 20 Most Immigrant-Friendly Countries In The World), attaining citizenship or permanent residency typically demands considerable time and effort, except for cases involving direct citizenship by investment programs. However, an alternative pathway to living and working in a foreign country can be readily achieved through a residence permit.

Residence Permit: An Overview

A residence permit is essentially a document granting its holder the right to reside in a specific country for a predetermined period. This permit affords individuals various privileges, including the ability to live, purchase property, travel across borders, conduct business, access medical services, and enroll in educational institutions, among other benefits. Obtaining a residence permit can be pursued through various avenues, such as marriage, employment, education, or investment. The imperative for international diversification, both in terms of workforce and foreign direct investment, has prompted countries to institute special provisions for investors, entrepreneurs, and highly skilled individuals.

It comes as no surprise, then, that the issuance of residence permits has witnessed a steady increase over time. In European Union countries, for instance, there was a notable uptick, with 3.7 million first residence permits issued to non-EU citizens in 2022, marking a 26% increase (+753,445 permits) from the previous year. While multiple pathways exist for securing a residence permit, the investment route, commonly known as the "Golden Visa," stands out as the more expedient and streamlined option.

The global demand for investor visas has demonstrated a sustained upward trajectory, with over 165,000 individuals opting for such programs in the US, UK, Canada, and EU countries between 2008 and 2022. Notably, the US EB-5 Immigrant Investor Program, which has been in operation for over three decades, remains one of the most sought-after investor visas. Over the period from 2010 to 2019, the US approved a total of 81,125 investor visas, surpassing the combined figures of visas issued by Canada, the UK, and Portugal. Similarly, a surge in interest in European Golden Visas has been observed. Greece, for instance, experienced a substantial increase, with a 63% rise in demand for its residence permit programs. By May 2023, Greece had received 3,900 Golden Visa applications, compared to 1,444 in 2022. Additionally, Canada's Start-Up Visa program welcomed 175 new permanent residents in August 2023, marking a 29.6% increase from the previous month.

Developed countries such as the US, Canada, and EU member states offer lucrative opportunities for investment due to their robust economies. The United States stands as the world's largest national economy and a key player in global trade, boasting renowned companies like Google, Microsoft Corporation, Meta Platforms, Inc., and Apple Inc. These giants contribute to the allure of the US investment landscape, attracting investors and entrepreneurs alike.

Similarly, Europe presents a compelling investment environment with its growing economies and substantial population, totaling approximately 743.5 million in 2022, twice the size of the US population. The region hosts some of the world's largest economies, with Germany ranking fourth globally in nominal GDP at $4.26 trillion in 2021. The European Union, comprised of 27 member states, accounts for about 14% of the world's total trade in goods, with a combined GDP of €14.5 trillion in 2021. Notably, Europe has also seen the establishment and expansion of multinational corporations such as Google, Microsoft Corporation, Meta Platforms, Inc., and Apple Inc., reinforcing its status as an attractive investment destination.

For instance, Google recently reaffirmed its commitment to European markets by announcing a €25 million investment aimed at enhancing AI skills across the region. Similarly, Apple Inc. injected an additional €1 billion to expand its Silicon Design Centre in Europe, demonstrating sustained investment interest. Microsoft Corporation has also pledged to expand its cloud infrastructure in Europe to meet increasing demand.

Transitioning to another topic, let's explore the criteria used to identify the 16 Easiest Countries to obtain a Residence Permit.

Our methodology focuses on residency permits obtained through investment, considering it the most straightforward approach. We begin by identifying residency programs offered globally and then prioritize those with popular or leading Residency by Investment Programs. Factors such as minimum cost and application processing time are evaluated, with cost given a higher weight (0.6) compared to time (0.4). The resulting list is presented in descending order of rank, offering potential investors insights into viable residency options.

It's worth noting that the figures mentioned, particularly those in US dollars, are subject to fluctuations based on current exchange rates.

Additionally, Insider Monkey, an investment website, employs a consensus approach to identify top stock picks based on the collective wisdom of over 900 hedge funds investing in US stocks. Their methodology, which tracks corporate insiders and hedge fund movements, has consistently outperformed the S&P 500 index over the past decade by more than 140 percentage points. Thus, individuals seeking informed investment decisions can benefit from leveraging the insights of hedge funds and corporate insiders provided by Insider Monkey.

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6 Easiest Countries to get a Residence Permit

16. Malta  

Minimum Investment Cost Rank: 7  

Minimum Application Process Time Rank: 22  

Insider Monkey weighted Average: 13  

One of the popular countries for investors looking to either gain residency or citizenship is Malta. It is also one of the easiest countries to get a residence permit. An economically and politically sound country, Malta has much to offer investors, from high quality of life to tax advantages. These factors have contributed to the country's popularity for residency and investment schemes. According to the program's requirements, the investor must have at least €500,000 (approximately US $545,000) worth of assets, €150,000 (approximately US $163,500) of which should be invested in liquid financial assets. Additionally, other stipulations of the program demand property acquisition or lease, as well as economic contribution to the Maltese economy and donation to a non-governmental organization. Permanent residency is obtained immediately after the application process is complete, which takes about 6-8 months.

15. Costa Rica  

Minimum Investment Cost Rank: 6  

Minimum Application Process Time Rank: 23  

Insider Monkey weighted Average: 12.8  

Costa Rica is yet another country that provides easy access to a residence permit. With only a US $150,000 investment—either in property or business—under the Investor Visa Program, one can find a way to settle down in the country. Forestry projects, however, require only a $100,000 investment. The initial residence permit issued is for two years, which is then also renewable, provided the investor maintains the investment. The application process time is a bit higher than other programs, taking about 9 months.

14. Cyprus  

Minimum Investment Cost Rank: 13  

Minimum Application Process Time Rank: 11  

Insider Monkey weighted Average: 12.2  

When searching for a country where the residence permit can be obtained easily, Cyprus would appear as a viable option. Not only is the minimum investment choice modest, €300,000 (approximately $327,000) in various types of investments such as property, business, fund, and securities, but the time taken to process the whole application is among the fastest (2 months).

13. Malaysia  

Minimum Investment Cost Rank: 9  

Minimum Application Process Time Rank: 15  

Insider Monkey weighted Average: 11.4  

Easy and efficient, Malaysia’s My Second Home Program grants its applicants a 10-year multiple entry visa, which is also renewable. Under this scheme, the investor has the choice to pick from three options of investment with different outlay for each. The minimum investment (known as the Silver Tier) corresponds to MYR 500,000 (approximately US $230,000) to be deposited in a Malaysian bank. The time for application processing is 3-6 months.

12. Canada  

Minimum Investment Cost Rank: 1  

Minimum Application Process Time Rank: 26  

Insider Monkey weighted Average: 11  

Canada’s Start-Up Visa Program is not only the best Golden Visa program that has attracted many investors, but is also one of the easiest for getting a residence permit. This is primarily due to the non-existent cost of the program. Here the applicant is not required to make an investment themselves but can provide backing of accredited external investors. A C$200,000 (approximately US $148,000) commitment from a designated Canadian venture capital fund, a C$75,000 (approximately US $55,500) commitment from part of a designated Canadian angel investor group, or a confirmation that the start-up is part of a designated Canadian business incubator program are the different options available. However, the application process time is somewhat higher in comparison to other applications.

11. Panama  

Minimum Investment Cost Rank: 5  

Minimum Application Process Time Rank: 19  

Insider Monkey weighted Average: 10.6  

For people wishing to seek residence in Panama through a quick and easy way of investment, there are the choices of two different visas: their Golden Visa known as the Qualified Investor Visa and their Active Investor Visa. Under the qualified investor visa, the minimum investment amounts to US $100,000 in a company that has a forest registry with the Ministry of Environment. This will allow a temporary residence of two years and the application processing time is 4 months for the forestry application. Panama also offers an Active Investor Visa known as Panama’s Business Investor Residency Permit. To qualify for this scheme, the investor must invest US $160,000 in a new or existing business in Panama, creating at least five full-time jobs for Panamanian citizens, and where the investor is involved on a daily basis with the business.