In today’s world, many people are interested in securing residence permits or citizenship in foreign countries as a means of diversifying their assets and increasing their global mobility. While some individuals are willing to invest in real estate or government bonds to achieve this, others prefer the simplicity and flexibility of bank deposits. In this blog post, we will explore various countries where a simple bank deposit can grant you residence permits or even citizenship.
Panama: Friendly Nations Visa Program
Panama’s Friendly Nations Visa Program is one of the easiest ways for Western and European citizens to secure permanent residence. By depositing $5,000 in a Panamanian bank and establishing an additional economic tie in the country, you can obtain permanent residency. Panama is a tax-friendly country, making it an attractive option for those looking to diversify their assets and secure a plan B.
Ecuador: Affordable Residence Permits
Ecuador offers residence permits for those who deposit just over $40,000 in a local bank. This can lead to permanent residence and eventually citizenship if you choose to live in the country. Ecuador uses the US dollar as its official currency, and its banks often offer higher interest rates than those found in the US.
Colombia: Flexible Residence Programs
Colombia offers various residence programs, with the easiest option being a real estate investment. However, for those looking to invest less money, you can deposit as little as $20,000 into a Colombian business, which may grant you temporary residence.
Costa Rica: Proving Income
Costa Rica allows individuals to secure a residence permit by depositing two years’ worth of required income into a local bank, amounting to roughly $60,000. This residency can eventually lead to citizenship if you live in the country for at least half the year.
Latvia: Golden Visa Program
Latvia’s Golden Visa Program requires an investment of €280,000 in a local bank, along with a €25,000 government fee. This grants a five-year residence permit, but does not lead to citizenship unless you live in the country for a minimum of 10 years.
Portugal and Spain: Capital Investment
Both Portugal and Spain offer golden visa programs where a €1 million capital investment in a local bank can secure residency. This can eventually lead to citizenship in the case of Portugal.
Turkey: Instant Citizenship
Turkey offers instant citizenship for those who deposit $500,000 in a local bank for a minimum of three years. This can be split across multiple banks, offering increased flexibility.
Egypt: Citizenship by Investment
Egypt’s Citizenship by Investment program requires a deposit of between $750,000 and $1 million in an Egyptian bank for a period of three to five years. This grants Egyptian citizenship but may not be as appealing to Western investors.
Asia: Limited Citizenship Opportunities
Asian countries generally offer limited opportunities for second citizenship, but several programs exist for residence permits. The Philippines’ SRRV program, Thailand’s indefinite investor visa, and Malaysia’s My Second Home program all require significant deposits in local banks to secure residency.
In conclusion, if you have significant liquidity and are interested in obtaining residence permits or citizenship in foreign countries, consider using bank deposits as a simple and flexible means of achieving your goals. This strategy can diversify your assets, increase your global mobility, and offer you additional options in uncertain times.