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Expats: buying your way out of Brexit

By International Adviser, 30 Jun 16

A number of European countries are offering citizenship for a price, as expats scramble to secure a future in the EU.

A number of European countries are offering citizenship for a price, as expats scramble to secure a future in the EU.

Britain’s shock decision to leave the EU last week has led to many British expats living in Europe clambering to apply for citizenship in their host countries, either through marriage or long-term residency.

Ireland’s foreign ministry said it had received a significant rise in the number of Irish passport applications from the 250,000 Britons – the second largest population in Europe – living in the country.

Those for whom this is not an option are looking at other ways to preserve the status quo.

Spain

Spain, home to Europe’s largest population of British expats (c. 319,000), offers a ‘golden visa’ to those who spend more than €500,000 (£418,000, $555,000) on property in the country.

Malta

Malta offers a citizenship ‘of good standing’ to those who contribute €650,000 to a national fund, buy €150,000 in government bonds and invest €150,000 in Maltese property.

The smallest member of the EU, Malta host around 5,000 Brits.

Cyprus

Cyprus offers citizenship in less than six months to individuals who invest €5m, or €2.5m as part of a collective scheme. 

The country currently has more than 38,800 British national living there.

Greece

Greece offers right of residency plus Schengen visa privileges – the free movement within the EU member states – in return for €250,000 investment in property.

Belgium

With over 24,000 Britain’s living in Belgium, the country requires people to have lived and worked in the country for over five years to be eligible for citizenship.

Applicants must also be able to speak one of the state’s official languages: Dutch, French, or German.

It has received a surge in citizenship requests from British expats looking for ways to remain in Brussels after Brexit. 

Tags: Brexit | Expat

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.