Introduction

Europe is an attractive destination for many looking for a second residency. While some European Union countries have high requirements for residency, emerging European countries often offer easier and more affordable options. In this blog post, we will discuss six easy second residency options in emerging Europe.

1. Latvia Residence Program

The Latvia Residence Program, a type of Golden Visa, allows individuals to invest in real estate or deposit a certain amount in a bank to obtain a five-year residence permit. The program provides access to the entire Schengen area, although it comes with some restrictions and fees.

2. Armenia

Armenia offers several ways to qualify for residency, such as starting a business, investing in real estate or bonds, or participating in an arbitrage program. The investment requirements are relatively low, and the fees are reasonable.

3. Montenegro

Montenegro is an attractive option due to its tax-friendly environment and simple residency requirements. To qualify, individuals need to purchase a property, although recent crackdowns have limited the number of people allowed to reside in a single property. Unfortunately, there is no clear path to citizenship through real estate investment in Montenegro.

4. Albania

Similar to Montenegro, Albania’s residency program requires the purchase of real estate. Albania is particularly US-friendly and offers some of the cheapest coastal real estate in Europe. However, the government is now checking on residency requirements more closely than before.

5. Serbia

Serbia’s residency program also revolves around property ownership. However, the government will verify that applicants are living in the property before granting residency. This option is particularly suitable for those who plan to spend time in the country and enjoy its friendly atmosphere.

6. Georgia

Georgia, known for its banking sector, has recently increased its residency requirements. To obtain temporary residence, individuals must now invest at least $100,000 in real estate. Permanent residency requires a more substantial investment. Taxes on real estate in Georgia are low, making it an appealing option for investors.

Conclusion

Obtaining a second residency in emerging European countries can be a strategic move for those seeking greater personal freedom, lower taxes, and increased wealth. However, requirements and costs are continually changing, often becoming more stringent and expensive. Therefore, it’s essential to research the best option for your personal situation and act quickly to secure your second residency in Europe.