40 | VISAS WORDS | John Howell
or many people buying property in another country the question of whether they will be able to live in that country is a major consideration – sometimes the primary consideration. Many agents and developers selling property will be selling to people with these aims, so they need to understand the market. What is available? How do the various places compare?
Invest in your Future F
Over the last few years, more and more countries have introduced visas to encourage foreign investors to invest in, buy a home in and live in their country. After all, this not only brings in much needed money when the buyer makes the investment; it also brings in employment and ongoing tax revenue. In many cases it can make the person’s entire worldwide income taxable in your country!
Just like all countries differ from
each other, so too do their investor visa programs. The differences are very signifi cant and far too complex to examine in detail in a short article such as this. Some of the key features of some of the main investor visa programs are set out in the table – fi g1. Of course, this is not an exhaustive list of the countries offering such programs. Not only do these programs differ dramatically in the cost of entry – the amount you need to invest in order to qualify, they also differ dramatically in the ongoing cost of living in the country concerned and the safety and convenience of living there. Some are aimed at people retiring and wanting to live on incomes that, whilst modest in their own country, are quite high by local standards. Others are aimed squarely at the very rich.
For these reasons, for each country, I have also included the GDP per capita
fi gure (adjusted for purchasing power parity – taken from the CIA World Fact Book at
www.cia.gov/library/ publications/the-world-factbook/geos/
xx.html), the Numbeo cost of living index (
www.numbeo.com) and the world transparency index ranking
“More countries have introduced visas to encourage foreign investors to buy a home”
published by Transparency International (
www.transparency.org). The GDP per capita fi gure compares the total annual income of each country, divided by its population. This gives some idea of the country’s wealth, though – with many countries having a huge gap between the wealth of the
TRP = Temporary Residence Permit.
PRP = Permanent Residence Permit CIT = The right to take citizenship (this is optional). Some countries permit dual citizenship. N/A = Not available. All USD equivalents are approximate
Country Australia Rules Invest AUD 1,500,000 (USD 1,550,000) in
government bonds for 4 years. Must have net assets of AUD 2,250,000.
Austria (EU)
Austria (EU) Optional
Invest EUR 6,000,000 to 10,000,000 (USD 7,500,000 – 10,500,000) in Austrian business and create new jobs
Donation of EUR 2,000,000 (USD 2,500,000) to specifi ed charity
For people who otherwise qualify for PRP, Bahamas
investment of USD 250,000 in local real estate can accelerate grant of PRP with no entitle- ment to work or USD 500,000 a PRP with entitlement to work.
Brazil
Invest BRL 150,000 (USD 75.000) in ‘socially relevant investments’ – creation of jobs etc.
Accelerated consideration of PRP application
USD 31,400 N/A 21/183 You get TRP
PRP after 4 years CIT 7 years
TRP CIT within 2 years TRP CIT within 2 years USD 42,400 94.84 16/183 USD 42,400 94.84 16/183 USD 40,800 122.96 8/183 2011 GDP per capita CofL Index
Trans Index
FEATURE
www.opp-connect.com | DEC 2012/JAN 2013
Many people want to move to another country. But which? If you want to make an investment and secure the right to live in the country, what are the rules? How can you decide which option is best? The full answers to these questions would be far too long for an article such as this, but hopefully the data will give you an idea
rich and poor – this fi gure needs to be treated with caution as a real guide to comparative wealth.
The Numbeo cost of living index looks at the cost of living (as measured by their Consumer Prices Index, their Rent Index, their Groceries Index and their Restaurant Price Index). I have used their Consumer Prices Index. It compared costs with New York City. So, for example, if a place has a ranking of 120 it means that the cost of living (including groceries, restaurants, transportation and utilities. But not accommodation) is 20% higher than New York.
The Transparency International index measures the perceptions of corruption in a country. It covers 183 countries around the world. Places with a lower ranking (24/183) are, generally, easier places to live than places with a high raking (100/183) – unless, of course, you are corrupt!
/
USD 11,900
83.71
73/183
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