Residence & Citizenship

Other Countries

In addition to CyprusGuernseyIsle of ManMaltaPortugalSt Kitts & NevisSwitzerland and the UK, Dixcart can provide advice on, and assist with, relocation to a number of alternative countries. We highlight a few below:

Antigua

For many individuals a Caribbean lifestyle is of appeal. Antigua is an economically, legally and socially stable country which is part of the Commonwealth. It is a beautiful island to live on, with 365 pristine beaches, as well as offering a number of benefits:

  • Passport holders enjoy full Schengen privileges and do not require a visa to visit the UK as well as being able to travel to approximately 130 countries worldwide (including Hong Kong, Canada, Singapore, UK and Europe).
  • The ability to reside in other Caricom countries: Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Lucia, St Kitts & Nevis, St Vincent & Grenadines, Suriname and Trinidad & Tobago.
  • The following taxes are NOT levied in Antigua: personal income tax, gift tax, death duties, estate taxes, inheritance tax or capital gains tax on worldwide income.

Applying for the Antigua residence scheme

A minimum investment of US$400,000 in an approved real estate development is required. The property must be retained for a period of 5 years, following the granting of citizenship.

A Government processing fee of US$50,000 each is required for the applicant and spouse and there are additional fees for other dependants.

Dominica

Dominica is an island in the Caribbean which offers an attractive residence scheme, providing ease of travel for many passport holders. Some of the advantages of the Dominica residence scheme include:

  • Dominica Economic Citizens have the same rights as Dominica born nationals.
  • Visa free or visa on entry travel to over 90 countries worldwide, including Europe and the UK.
  • The ability to reside in other Caricom countries: Antigua & Barbuda, Bahamas, Barbados, Belize, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Lucia, St Kitts & Nevis, St Vincent & Grenadines, Suriname and Trinidad & Tobago.
  • The following taxes are NOT levied in Dominica: no death duties, estate taxes, inheritance tax or capital gains tax.

Applying for the Dominica residence scheme

A minimum US$220,000 must be invested in an approved real estate development and in addition Government fees for the citizenship application start at US$50,000 for the applicant and additional charges for a spouse and dependants.

Alternatively a cash contribution can be made: US$100,000 for a single applicant, US$175,000 for a couple and US$200,000 for a family of four.

Italy

Located in the heart of the Mediterranean Sea, boasting breath-taking landscapes, world famous food and wine, celebrated art and literature and a balanced and rich quality of life, it is no surprise Italy is a popular place to live.

Italy offers The Resident Non-Domiciled Tax Regime (also known as the “Flat Tax Regime”) and a Residence by Investment Programme.

Flat Tax Regime

A minimum US$220,000 must be invested in an approved real estate development and in addition Government fees for the citizenship application start at US$50,000 for the applicant and additional charges for a spouse and dependants.

Alternatively a cash contribution can be made: US$100,000 for a single applicant, US$175,000 for a couple and US$200,000 for a family of four.

An individual who meets certain conditions can be considered resident, but non-domiciled in Italy. This allows them to pay ordinary tax on income generated in Italy and a single, fixed tax payment of €100,000 per annum, to cover taxes due on non-Italian income. This is irrespective of the type, or source, of international income.

The Flat Tax Regime is available to individuals who:

  • Transfer their tax residence to Italy (the maximum time this favourable tax regime can be enjoyed is 15 years and it can be revoked at any time by the taxpayer).
  • Have not been tax resident in Italy for 9 of the previous 10 years, preceding their application to this new tax regime.
  • Obtain formal approval from the Italian Tax Authorities.

On receipt of non-domiciled status, taxpayers will be liable to progressive tax rates on Italian-source income. A lump sum tax payment of €100,000 per year will be due on income from foreign investments, foreign financial assets and any other foreign source income for maximum of 15 years.

The Residence by Investment Programme

Applicants must invest in one of the following:

  • A minimum investment of €2 million in Italian Government bonds, to be held for a period of at least 2 years; OR
  • Invest €1 million in equity instruments in a company that is operating, or located in Italy; OR
  • Invest €500,000 in a start-up company; OR
  • Invest €1 million in philanthropic funding, supporting projects in the sectors of culture, education, immigration, scientific research, and/or the recovery of cultural assets and landscapes.

Successful applicants will receive a 2-year residence permit, with the option of a 3-year extension. Family members are also eligible.

Italy does not offer a citizenship by investment scheme, however successful residency applicants can obtain citizenship and an Italian passport, after living and working in Italy for 10 years.

Panama

Located in Central America and borded by Colombia and Costa Rica, Panama is an appealing location with a modern infrastructure and miles of beautiful coastline.

Panama offers various immigration visa and residency programmes which, in many cases, lead to full citizenship and a passport:

  • The Friendly Nations Visa enables citizens of 47 countries considered as “friends” of Panama to apply for permanent residence, leading to citizenship, passport, and a work permit. Countries include: Australia, most European countries, Hong Kong, Israel, Japan, several Latin American countries, Singapore, South Africa, South Korea and the USA. An applicant is required to have professional and economic ties with Panama; this can include starting a business in Panama, purchasing an existing business in Panama or being hired in a professional capacity by a Panamanian company.
  • In order to obtain Panama residency, citizenship and a passport under the Self Economic Solvency Visa, a minimum investment of US$300,000 in Panama is required.

The three investment options are:

  1. Panamanian real estate
  2. A certificate of deposit in a Panamanian bank which must be held for 3 years
  3. A combination of the two options above

Foreigners who receive a pension or annuity of a minimum US$1,000 per month, guaranteed for their lifetime, can qualify to retire in Panama with a Panama Pensionado Visa. The minimum monthly pension amount is reduced to US$750 if the applicant purchases a property in Panama with a minimum value of US$100,000.

Spain

Spain offers a “Golden Visa” scheme and the “Special Regime for Expatriates” which provide an opportunity for EU and non-EU nationals to move to Spain and enjoy an attractive tax regime.

The Spanish Golden Visa

The Spanish Golden Visa enables non-EU residents to take up residence in Spain and to move freely within the Schengen Zone. There are no minimum stay requirements and individuals do not need to become tax resident in Spain.

To qualify for a Spanish Golden Visa an individual must meet one of the following investment criteria:

  • Investment of at least €2 million in Spanish public debt; OR
  • Investment of at least €1 million in the shares of a private Spanish company or in a bank deposit in a Spanish financial entity; OR
  • Acquisition of real estate in Spain with a value of at least €500,000; OR
  • Conducting a business project in Spain that leads to job creation, local economic development and scientific and/or technological innovation.

The Spanish Golden Visa is initially issued for 1 year. Providing that the investment activity is met and maintained, the residence permit is renewed for two successive periods of 2 years.

There is no minimum stay period in Spain but the applicant does need to travel at least once to Spain during the period prior to each renewal.

Permanent residence can be applied for after 5 years and after 10 years of residence, Spanish nationality can be requested.

Special Regime for Expatriates

A non-Spanish individual working in Spain can opt for assessment under Spanish Non-Resident Income Tax rules for a period of up to 6 tax years. Such individuals are subject to a flat tax rate of 24.75% on Spanish sourced income (rather than taxes starting at 19% and ranging up to 56%). This is up to a maximum income of €600,000 per annum. Capital Gains Tax for assets held in Spain are a flat 21% and are liable to Spanish Net Worth Tax.

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