{"id":701369,"date":"2023-07-15T17:00:00","date_gmt":"2023-07-15T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=701369"},"modified":"2023-07-14T15:26:07","modified_gmt":"2023-07-14T13:26:07","slug":"how-much-rich-south-africans-have-to-pay-to-reside-in-spain-new-zealand-the-uae-and-switzerland","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/lifestyle\/701369\/how-much-rich-south-africans-have-to-pay-to-reside-in-spain-new-zealand-the-uae-and-switzerland\/","title":{"rendered":"How much rich South Africans have to pay to reside in Spain, New Zealand, the UAE and Switzerland"},"content":{"rendered":"\n

There are 26 countries across the world that offer residency through investment programmes to wealthy South Africans. <\/p>\n\n\n\n

The programmes, also known as Golden Visas, allow wealthy individuals to work, study, and possibly receive healthcare in a foreign country. <\/p>\n\n\n\n

Global immigration company Henley and Partners said, however that the benefits of being a citizen through an investment programme outweigh those of having traditional multiple residencies.<\/p>\n\n\n\n

Citizenship by Investment affords the applicant the same benefits as a natural-born citizen of a country. <\/p>\n\n\n\n

Whereas a golden visa only allows for residency in a country for a set period. <\/p>\n\n\n\n

The programmes can lead to major benefits, with Greece’s scheme generating EUR 1 billion in the first five months of the year, as reported by SchengenVisaInfo.com. <\/a><\/p>\n\n\n\n

Singapore currently offers the most expensive golden visa programme, which will set a wealthy South African back SGD 10 million or roughly R135 million. <\/p>\n\n\n\n

Investment into popular emigration areas such as New Zealand and Australia will set wealthy South African back approximately R55 million and R30 million, respectively. <\/p>\n\n\n\n

On the other end of the scale, a golden visa in Thailand will only cost roughly R300,000: <\/p>\n\n\n\n

Country<\/strong><\/td>Cost<\/strong><\/td><\/tr>
Singapore<\/td>SGD 10,000,000 (R135,000,000)<\/td><\/tr>
New Zealand <\/td>NZD 5,000,000 (R55,000,000)<\/td><\/tr>
Australia<\/td>AUD 2,500,000 (R30,000,000)<\/td><\/tr>
Jersey<\/td>Real estate investment of GBP 1,250,000 (R28,000,000) and annual taxes of GBP 145,000 (R3,200,000)<\/td><\/tr>
USA<\/td> USD 800,000 (R14,000,000)<\/td><\/tr>
UAE<\/td>AED 2,000,000 (R10,000,000)<\/td><\/tr>
Ireland <\/td>Eur 500,000 (R10,000,000)<\/td><\/tr>
Spain<\/td>Eur 500,000 (R10,000,000)<\/td><\/tr>
Luxembourg <\/td>Eur 500,000 (R10,000,000)<\/td><\/tr>
Mauritius<\/td>USD 375,000 (R6,700,000)<\/td><\/tr>
Cyprus<\/td>EUR 300,000 (R6,000,000)<\/td><\/tr>
Namibia<\/td>USD 300,000 (R5,500,000)<\/td><\/tr>
Portugal <\/td> EUR 280,000 (R5,500,000)<\/td><\/tr>
Switzerland<\/td>CHF 250,000 (R5,000,000) in taxes<\/td><\/tr>
Italy <\/td>EUR 250,000 to 2,000,000 (R5,000,000 to R40,000,000)<\/td><\/tr>
Greece<\/td> EUR 250,000 (R5,000,000)<\/td><\/tr>
Malaysia <\/td>MYR 1,000,000 (R4,500,000)<\/td><\/tr>
Malta<\/td>EUR 175,000 (R3,500,000)<\/td><\/tr>
Panama<\/td> USD 100,000 (R1,800,000)<\/td><\/tr>
Latvia<\/td>EUR 60,000 (R1,200,000)<\/td><\/tr>
U.K.<\/td>GDP 50,000 (R1,200,0000)<\/td><\/tr>
Thailand<\/td>THB 600,000 (R300,000)<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n

Additionally, four countries offer residency by investment programmes but do not provide an official amount. <\/p>\n\n\n\n

Experts at Henley and Partners said that it is difficult to give a precise amount for these countries as they are not directly linked to a direct investment or real estate. <\/p>\n\n\n\n

These programmes focus on other criteria like starting a business and are only logical for those who want to relocate and base themselves in these respective countries. <\/p>\n\n\n\n

For instance, those wanting to move to Canada must create a start-up business. <\/p>\n\n\n\n

The four listed countries can be seen below:<\/p>\n\n\n\n

Country<\/strong><\/td>Cost<\/strong><\/td><\/tr>
Monaco <\/td>Must be able to afford the lifestyle, including rent and prices for real estate<\/td><\/tr>
Hong Kong<\/td>Must complete a points-based test under the Quality Migrant Admission Scheme. <\/td><\/tr>
Canada<\/td>Creative start-up business<\/td><\/tr>
Montenegro<\/td>No minimum investment<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n

Provided below is a breakdown of how much it costs to get residency in a country abroad and how long it would take through investment:<\/p>\n\n\n\n

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Singapore <\/strong><\/p>\n\n\n\n