4 European countries where South Africans can buy citizenship
South Africans can buy citizenship in 11 countries – four of them being in Europe.
South Africa’s medium-term prospects are far more promising than in recent years, with economic growth expected, interest rates falling, inflation declining, a stable market-friendly Government of National Unity (GNU), and load shedding improving.
That said, many other factors continue to weigh on its people, including high crime rates, poor job opportunities and anxiety over the possible introduction of the NHI.
Many may thus be looking to leave South Africa and weighing up their options.
According to Henley and Partners, Citizenship by investment programs allow wealthy families to acquire alternative citizenship, giving them the right to travel freely to various destinations and settle in another country.
About 30 residences allow citizenship and/or residence by investment.
Citizenship by investment differs from residency by investment, as the former gives one the same benefits as a natural-born citizen of the country. A residence investment, A.K.A a Golden visa, only offers residency in another country for a certain period.
That said, applicants must meet per-country criteria to become citizens.
Austria
Austrian citizens can live and work in any country in the EU at any time. Their passport has an excellent reputation, ranking among the top 10 strongest passports on the Henley Passport Index.
“Under the citizenship by investment provisions, an applicant is required to invest actively in the Austrian economy, for example, in the form of a joint venture or direct investment in a business that creates jobs or generates new export sales,” said Henley and Partners.
“Significant direct investment is generally required. For example, passive government bonds or real estate investments do not qualify.”
One will also need a completely clean (certificate of no criminal record), a comprehensive CV, business background information and strong references.
Malta
The Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment process gives citizenship by a naturalisation certificate to foreign individuals and their families who contribute to the country’s economic development.
This is possible after a three-year (or, by exception, 1-year) residence period.
Henley and Partners said the Maltese process offers the world’s strictest due diligence standards and vetting.
To qualify, one must make a minimum contribution of at least EUR 600,000 for a minimum residence period of 36 months or EUR 750,000 for a minimum of 12 months.
One must also purchase a residential property in Malta of at least EUR 700,000, which must be held for five years. Instead, they can lease of a residential property with a rental value of at least EUR 16,000 per annum also five years (no subletting allowed)
During the residence period, a 36-month (or 18-month, by exception) lease agreement or property purchase is mandatory.
One must also donate at least EUR 10,000 to a registered sport, cultural, scientific, philanthropic, animal welfare, or artistic non-governmental organisation or society that the Community Malta Agency approves.
Legal residence in Malta for at least 36 months (or 12 months, by exception) is also required, which includes the lease of a residential property with a rental value of at least EUR 16,000 per annum held for that same period.
Applicants will also require a valid residence card to apply for citizenship.
North Macedonia
“Located in Southeastern Europe, North Macedonia has a strategic geographic location — prospective investors are in a key position to benefit from the nation’s status as a major transportation route across Europe,” said Henley and Partners.
“For those who would like to become citizens of this growing European economy, the North Macedonia Citizenship by Investment Program is the most efficient way to acquire such status.”
“The government welcomes wealthy and talented foreign individuals who are able to make a significant, qualified investment into the country that would boost the economy through foreign direct investment.”
Under the investment program, individuals will be able to become citizens of North Macedonia within five months, but the government is still establishing the program.
The North Macedonian program states that foreign individuals must invest EUR 200,000 or EUR 400,000 under two different scenarios:
Option 1 requires that EUR 200,000 per adult applicant for at least two years be put in a private investment fund to be eligible to apply for citizenship
Option 2 requires EUR 400,000 per adult applicant as a direct investment in new facilities (except those in hospitality for restaurants or shopping). These investments must also employ at least ten people for an indefinite period of at least one year.
Türkiye
Türkiye is known as a major transcontinental country, which is bordered by three seas.
The area is also a major tourist hotspot, while the Bosporus Strait in Istanbul is seen as the divider between Europe and Asia.
Henley and Partners said that the program, established in 2017, allows investors to choose from various economic contributions to Turkish society.
The principal applicant should fulfil one of the following investment requirements to qualify for citizenship:
- Acquire at least USD 400,000 worth of real estate
- Invest a minimum of USD 500,000 in fixed capital contributions
- Deposit at least USD 500,000 into a Turkish bank account
- Commit at least USD 500,000 into government bonds
- Commit at least USD 500,000 into real estate investment fund share or venture capital investment fund share
- Commit at least USD 500,000 into a private pension system for a minimum holding period of three years
- Create jobs for at least 50 people, as attested by the Ministry of Family, Labour and Social Services
The main applicant can also include their spouse, dependent children under 18, and children of any age who are living with disabilities in their application.
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