10 European countries South Africans can buy their way into – starting at R3.5 million
10 notable European countries offer foreigners, including South Africans, residence via investment, and while some require no minimum investment amount, most require millions of rands.
Citizenship by investment comes with dual citizenship and a second passport, providing passport holders with expanded visa-free access and additional visa-free countries to travel to.
Residency in a country provides limited rights and privileges but provides access to other countries and the right to work freely in a chosen country.
Rich South Africans are increasingly considering residency by investment programs in Europe for several reasons.
Political instability and economic uncertainty in South Africa drive many wealthy individuals to seek more stable environments for their families and businesses.
European countries, offering political stability, strong economies, and high standards of living, present attractive alternatives.
Security concerns also play a significant role. High crime rates in South Africa prompt affluent citizens to look for safer environments where they can enjoy peace of mind.
Access to better healthcare is another major factor. Europe boasts world-renowned educational institutions and healthcare systems, offering superior opportunities and services compared to those available in South Africa.
Wealthy families prioritise these aspects to ensure better futures for their children and the well-being of their families.
Additionally, many European countries are part of the Schengen Area, which allows visa-free travel across numerous nations.
This ease of travel is a significant advantage for business and leisure.
The wealth report, published by international wealth advisory firm Henley & Partners in collaboration with global wealth intelligence partner New World Wealth, shows that South Africa had 37,400 high-net-worth individuals (HNWIs) at the end of 2023.
This is 400 fewer than the 37,800 recorded at the end of 2022 and down 11,300 from the 48,700 recorded at the end of 2013.
While the costs involved and the types of programmes vary considerably, the country that is ultimately right for you also depends on the size of your family, whether you want to leave South Africa permanently, the period required to stay in the applied country, and the turnaround time for your application.
Residency by investment in Europe is relatively expensive compared with other countries.
While Monaco and Montenegro have no minimum investment amounts, buying or renting accommodation and other expenses could still be costly.
Looking at the cheapest European country, Malta offers residency with a minimum investment of R3.5 million, while others can go up to R39 million, much like Italy.
If a faster pace holds greater appeal in the Caribbean islands of Antigua and Barbuda, Dominica, and St. Lucia, North Macedonia and Türkiye are the cheapest citizenship by investment options.
Considering this, BusinessTech looked at some of the European destinations through residence by investment for HNWIs, as outlined by Henley & Partners, which are listed below with the various requirements needed.
Cyprus
| Factors | |
|---|---|
| Benefit | The right to live and study in Cyprus |
| Family that may be included | Residence applies to the main applicant’s spouse and children under 25 years. |
| Timeline | two months |
| Minimum investment amount | Invest €300,000 in property, a company, or units of the Cyprus Investment Funds Association’s collective investments (AIF, AIFLNP, RAIF). |
| Minimum stay requirements | Visit Cyprus at least one time every two years. |
| Total | R5.99 million |
Greece
| Factors | |
|---|---|
| Benefit | Freedom of travel to Greece and Europe’s Schengen Area. |
| Family that may be included | Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse). |
| Timeline | Three to four months |
| Minimum investment amount | Minimum real estate investment of €250,000* |
| Minimum stay requirements | None. |
| Total | R4.99 million |
Hungary
| Factors | |
|---|---|
| Benefit | Live and work in Hungary with visa-free travel within Europe’s Schengen Area |
| Family that may be included | Residence applies to the main applicant’s spouse and children under 18 years. |
| Timeline | 21 days |
| Minimum investment amount | €250,000 |
| Minimum stay requirements | None. |
| Total | R4.99 million |
Italy
| Factors | |
|---|---|
| Benefit | The right to live and study in Italy, and visa-free travel to Europe’s Schengen Area. |
| Family that may be included | Residence applies to the main applicant’s spouse, children, and dependant parents of the main applicant. |
| Timeline | The right to live and study in Italy and visa-free travel to Europe’s Schengen Area. |
| Minimum investment amount | Invest €250,000 if investing in innovative start-ups to €2,000,000 in government bonds. |
| Minimum stay requirements | None. |
| Total | R4.99 million to R39 million |
Luxembourg
| Factors | |
|---|---|
| Benefit | Visa-free access to the EU and Europe’s Schengen Area. |
| Family that may be included | Residence applies to the main applicant’s spouse and children. |
| Timeline | six months |
| Minimum investment amount | Invest €500,000 |
| Minimum stay requirements | At least six months. |
| Total | R10 million |
Malta
| Factors | |
|---|---|
| Benefit | The right to live, work, and study without restriction in Malta and visa-free access across Europe’s Schengen Area for 90 days out of a 180-day period. |
| Family that may be included | Residence applies to the main applicant’s spouse and children under 25 years. |
| Timeline | Four to six months. |
| Minimum investment amount | A minimum contribution of €175,000 mixed capital requirements. |
| Minimum stay requirements | None. |
| Total | R3.5 million |
Monaco
| Factors | |
|---|---|
| Benefit | Visa-free travel across Europe’s Schengen Area. |
| Family that may be included | Applicable to the main applicant’s spouse or partner and financially dependent children. |
| Timeline | Eight to nine months |
| Minimum investment amount | None. But proof of sufficient funds to live in Monaco (bank attestation letter), and proof of accommodation (lease or purchase agreement). |
| Minimum stay requirements | At least six months per year in Monaco. |
| Total | R5.99 million |
Montenegro
| Factors | |
|---|---|
| Benefit | Visa-free travel across Europe’s Schengen Area. |
| Family that may be included | Residence applies to the main applicant’s spouse and children under 25 years. |
| Timeline | One month |
| Minimum investment amount | None. |
| Minimum stay requirements | One visit to Montenegro required during the application process. |
| Total | R5.99 million |
Portugal
| Factors | |
|---|---|
| Benefit | The right to live, work, and study without restriction in Portugal and visa-free travel across Europe’s Schengen Area. |
| Family that may be included | Residence applies to the main applicant’s spouse and children. |
| Timeline | Eighteen months |
| Minimum investment amount | €250,000 |
| Minimum stay requirements | Two trips to Portugal during the application period. |
| Total | R4.99 million |
Spain
| Factors | |
|---|---|
| Benefit | The right to live, work, and study in Spain, and freedom of travel to the EU and Europe’s Schengen Area. |
| Family that may be included | Residence applies to a spouse or unmarried partner, financially dependent children of any age (adult children must be full-time students), and financially dependent parents of the main applicant and/or their spouse who are 65 years and older. |
| Timeline | 20 days. |
| Minimum investment amount | €500,000 investment in property. |
| Minimum stay requirements | None. |
| Total | R5.99 million |
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