A bank deposit can be enough to obtain a residence permit in several European jurisdictions. Below is a concise overview of the programs that rely primarily on a cash investment, the amounts required, residency obligations, and the prospects for citizenship.
Greece
- Deposit amount: €400,000 (can be split among several banks).
- Deposit protection: Up to €100,000 per institution under the EU deposit‑insurance scheme.
- Residency requirement: No minimum stay; the permit allows free travel within the Schengen area.
- Citizenship outlook: Naturalisation is limited to ethnic Greeks; a deposit‑only route is unlikely to lead to citizenship.
Portugal
- Deposit amount: €1.5 million placed in a Portuguese bank.
- Residency requirement: Minimal physical presence—officially a few weeks per year is sufficient.
- Path to citizenship: After five years of legal residence, applicants may apply for Portuguese citizenship, provided they meet language and integration criteria.
Andorra
- Deposit amount: €400,000 total, of which €50,000 per dependent. The balance must be invested in approved assets such as bonds or bank‑linked products.
- Residency requirement: Minimum 90 days per year in Andorra.
- Citizenship outlook: Naturalisation is long‑term and difficult; the program is primarily for residence.
Luxembourg
- Deposit amount: €20 million into Luxembourg financial institutions.
- Residency requirement: Applicants must reside in Luxembourg; citizenship can be pursued after roughly six years of continuous residence.
- Notes: Lower‑threshold options exist but typically involve setting up a family office or other active business activities rather than a pure cash deposit.
Guernsey (Channel Islands)
- Investment amount: £1 million total, with at least £750,000 in term deposits. The remainder may be used as capital for a business venture.
- Residency requirement: Continuous residence is required; applicants must demonstrate integration (e.g., language proficiency).
- Citizenship outlook: After ten years of residence, applicants may apply for British citizenship; the deposit alone does not fast‑track citizenship.
Monaco
- Deposit amount: €500,000 placed in a Monaco bank.
- Residency requirement: Proof of suitable accommodation (rent or purchase) and the bank deposit; no specific stay requirement beyond maintaining the residence.
- Citizenship outlook: Monaco does not generally permit dual citizenship; the scheme provides residence only.
Turkey (European side)
- Deposit amount: $500,000 (converted to Turkish Lira) held in a Turkish bank.
- Residency requirement: Residence is granted quickly after the deposit; the funds must remain in the account for at least three years.
- Path to citizenship: After three years of residence (or as soon as paperwork is completed, often within six‑seven months), investors can obtain Turkish citizenship. Currency‑risk protections may be offered by the bank.
Jersey (Channel Islands) – comparable to Guernsey
- Program outline: Similar investment thresholds and residency conditions as Guernsey, with a focus on term deposits and business capital.
Practical considerations
- Liquidity: Most programs lock the funds for several years; early withdrawal may forfeit the residence permit.
- Taxation: Many jurisdictions offer favorable tax regimes for foreign residents, but tax obligations vary widely and may include annual reporting or minimum tax payments.
- Processing times: Greece and Andorra tend to issue permits faster than Portugal or Luxembourg, where applications undergo more scrutiny.
- Citizenship vs. residence: Only Portugal, Luxembourg, Guernsey, and Turkey provide realistic pathways to citizenship; the others are residence‑only schemes.
Prospective investors should assess the total cost (including fees, required minimum stays, and potential tax liabilities) and align the choice with their long‑term mobility and citizenship goals.
