Did you know that you can obtain different types of residency in different countries?
Well, in today’s post we’ll explore 2 countries offering residency by investment, one for business people and the other for personal reasons.
Argentina - Business residency
The Inversionista, or in English, Investor Visa, is the official name of the official program specific to Argentina that we have outlined in a broad sense above.
In terms of what that means for you as a potential investor, essentially, you will have to devise and draft a business plan that fits one of three main qualities: productive, commercial or service and is of a value worth at least 1.5 million Argentine Pesos, roughly US$15,000.
Here are the list of the requirements of any potential candidate for this program that will be submitted to the Ministry of Industry and Tourism in Argentina:
1. Clean criminal record, police certificate and affidavit
2. Proof of financial solvency and funds
3. Investment and business plan with copy of CV
4. Translation of documents above into Spanish
This list is quite short, and when you take into account that no nationality is prohibited from making an application, and that Argentina does allow their passport to be held as part of a dual nationality, the benefits, at least in terms of the criteria for application, seem unparalleled.
Malaysia - Personal residency
If you are looking to relocate to Malaysia, the rent is extremely affordable, currently sitting at over 68% cheaper than the United Kingdom, presenting the opportunity for more savings and the ability to spend more on your equipment and experiences without worrying about paying your bills.
As well as this, if you have a family, the average cost per month to live is just over £1,100, making the overall cost of living relatively low compared to countries across the globe.
This program really could not be simpler, for over, US$34,000 must be deposited into a Malaysian bank account. Once done, you must purchase Malaysian medical insurance and obtain a medical report in the country.
In terms of taxes, you are often not taxed on any foreign income, while if you have a business, the flat rate sits at 24% for non-resident companies. These figures are interesting as they too present an opportunity to see more of your money than you would in Europe or the United States
So, which type of residency is for me?
So, now we’ve covered both types of program with examples, it should hopefully be more clear which one is best suited to you.
While they are both very different, it’s clear that business residency is very specific, outlining the relationship you’re creating with your new home country as mutually beneficial.
On the other hand, in personal residency programs, the investment is more of an exchange, capital for residency, and so your new home nation is less dependent on you, though it is important to recognise the investment you’re making is still significant for your new home nation.
So, if you are interested in finding out more about the pathway to residency either through business or personal investment, as well as other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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