• Residence
  • Residence Planning
  • Important Points
  • Residence and Citizenship Practice Group
  • Austria
  • Belgium
  • Slovakia
  • Switzerland
  • Overview of Countries
• Citizenship
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Austria

Bahamas

Belgium

Campione d'Italia

Canada

Cyprus

Gibraltar

Guernsey

Hong Kong

Isle of Man

Italy

Jersey

Malta

Mauritius

Monaco

Panama

Slovakia

Switzerland

United Kingdom

United States

This page provides an overview of the countries and territories which provide the most attractive conditions for business investors, entrepreneurs and persons of independent means in terms of taxation, business environment, the possibility of acquiring citizenship, and quality of life.

To establish yourself or your business in a new country requires securing relationships with key partners such as lawyers, tax experts, bankers, and government officials. As a client of our firm, you can rely on us to receive the right advice, and we also help you build a network of contacts, take advantage of your new environment and achieve your goals.

A residence permit in any of the EU countries which are part of the Schengen Agreement will allow permanent visa-free access to travel throughout all Schengen countries for citizens of countries which otherwise require a visa. As of 2009, this also applies if you are resident in Switzerland.

Austria offers the possibility for persons of independent means to acquire full resident status in the European Union with minimal requirements. An Austrian residence permit allows its holder to travel to all Schengen states without the need for a visa.  After ten years of legal residence, it is possible to apply for Austrian citizenship.  Austrian citizenship may also be available within a shorter period of time, or even within months, for qualified individuals who contribute significantly to the country's interests. Henley & Partners offers the ARP Austria Residence Program, a fixed-fee service package for non-EU citizens who are interested in obtaining a residence permit in Austria. Please click here for more information.

The Bahamas is one of the world's most attractive no-tax jurisdictions for private residence, located just 60 miles from Miami at its nearest island, Bimini. It has a good infrastructure, particularly on the main islands of New Providence and Grand Bahama, and there are excellent flight connections to the USA and Europe. There is no personal or corporate income tax, no capital gains tax, no withholding tax, no employment tax, no gift tax, no inheritance tax, and no probate fees in The Bahamas. There is a strong demand by foreigners for second or primary homes in The Bahamas. Accelerated consideration is given to applications for annual or permanent residence by substantial investors and owners of residences valued in excess of USD 500,000. Please click here for more information.

Belgium is one of few EU countries left which do not tax private capital gains. Because Belgium has double-taxation agreements with many countries, by settling in the country and establishing a business there, you may legally avoid all capital gains taxes on future profits from the disposal of assets. It is also the only country in Europe where one can become a citizen after only 3 years of legal residence. Belgium offers an attractive lifestyle and is conveniently located in the heart of Europe. As the country is within the Schengen zone, a Belgian residence permit allows you to travel throughout this zone without the need for a visa. The requirements for non-EU citizens to become Belgian residents are relatively strict. However, there are good opportunities for substantial investors and wealthy individuals, and Henley & Partners offers the BRP Belgium Residence Program, a fixed-fee service package for non-EU citizens who are interested in obtaining a residence permit in Belgium. Please click here for more information.

Campione d'Italia is an Italian enclave which lies fully within Swiss territory and benefits from Swiss efficiency, stability and security in many ways. Campione is only suitable for persons of independent means who are no longer actively engaged in business. Resident foreigners enjoy most of the advantages of Switzerland and Italy while benefiting from a number of tax advantages, although these are not as substantial as commonly thought. There are no tax advantages for companies. The application process is relatively difficult and bureaucratic for non-EU citizens. Please click here for more information.

Canada has a long tradition of immigration and an elaborate system to evaluate and admit new residents. Citizenship is available after at least 3 years of residence (and generally 3 years of physical presence), and the Canadian passport is one of the best travel documents in the world. You can establish residence by applying for Canadian Permanent Residence in one the following categories: Investors; Entrepreneurs; Self Employed Persons; Skilled Workers; and Professionals. Canadian citizenship is available after three years, and its passport is very attractive in terms of visa-free travel possibilities. Please click here for more information.

A beautiful island located in a strategic part of the Mediterranean sea, Cyprus also offers attractive conditions for foreign investors to become resident within a relatively short time. Cyprus has quite an extensive network of double-taxation treaties and is particularly interesting for business with Eastern Europe. Please enquire for more information and advice.

Gibraltar offers a permanent residence program for wealthy individuals who can show a minimum net worth of at least GBP 2 million. They must purchase or rent an appropriate apartment in Gibraltar and have it available for their exclusive use throughout the year. Employment or business activities in Gibraltar are not permitted. Income tax payable by such residents is subject to a minimum of GBP 18,000 and a maximum of GBP 22,000 per annum. Other than this there is no further income tax, capital gains tax, no gift tax, no inheritance tax, and no wealth tax. Please enquire for further information and advice.

Guernsey is an attractive location for private residence, but also for establishing and operating international businesses. Individuals with a right of abode in the United Kingdom (this includes all EU citizens) have the right to reside in Guernsey provided they comply with the local housing laws which create an artificially expensive housing market for non-locals. There is only 20 % income tax for individuals, and no higher rate of tax, no capital gains tax, no inheritance tax, no VAT, and no wealth tax. Please enquire for further information and advice.

The Isle of Man is one of the most stable territories in the world, with its parliament, the Tynwald, being in continuous existence for more than one thousand years. The requirements for establishing residence there are few and the maximum rate of income tax for individuals is a mere 15 %. To promote new businesses on the Isle of Man, employees who locate there on assignment for up to three years will be taxed on local income only. There is no capital gains tax, no gift tax, no inheritance tax, and no wealth tax. Please enquire for further information and advice.

The rental of appropriate accommodation and proof of sufficient funds may enable you to establish residence in Italy as a person of independent means. However, the application process is relatively difficult and bureaucratic for non-EU/EFTA citizens. Italy is a beautiful country to live in, but also a high-tax jurisdiction and therefore various tax aspects have to be considered before moving there. Moreover, the future development of the tax and legal environment is considered to be less stable than in other EU countries. Please enquire for more information and advice.

Jersey, the largest of the Channel Islands, is an attractive location for private residence. It also is an excellent place to establish an international business due to its no-tax environment for businesses (other than trust and banking operations). The purchase and occupation of all residential real estate in Jersey is controlled by the Jersey Government, through its Housing Committee. Basically only persons possessing Jersey Housing qualifications are granted consent to purchase property. The Housing Committee normally grants such consent when it is satisfied that the applicant will make a major contribution to local tax revenues if he were permitted to reside in Jersey. Applicants for residence permits would normally be required to show a net worth of at least GBP 20 million and an expected income generated in Jersey after taking up residence sufficient to produce a local tax liability of at least GBP 150,000, based on an income tax rate of 20 %. Please click here for more information.

Malta is an attractive location in Europe for tax-advantaged residence. It offers non-Maltese citizens who can show an income in excess of EUR 25,000 per year the option of acquiring permanent resident status. Persons of any nationality are eligible to apply for residence, with no discrimination whatsoever. A permanent residence permit entitles the holder to reside permanently in Malta, but there is no requirement to spend any particular time actually residing there. Holders of a permanent residence permit pay a flat tax at the rate of 15 % only on income brought into Malta and there is no tax on worldwide income or assets. Malta has an extensive double taxation treaty system with more than thirty countries. Please enquire for more information and advice.

Under the 1973 Immigration Act, a Permanent Resident Scheme (PRS) was introduced to attract foreign investors to Mauritius. Permanent residence is granted to foreigners (and their families) who invest a minimum of US$ 500,000 in a qualifying business activity. Anyone who has invested under this scheme and has remained resident in Mauritius for a continuous period of 2 years is entitled to apply for citizenship under the 1968 Mauritian Citizenship Act. Please contact us for further information and advice.

Monaco has traditionally been the residence of choice for wealthy individuals and international celebrities. There have been no income taxes since 1869, which is one of the main attractions of Monaco as a place of residence for high net worth individuals and families. The requirements to become resident in Monaco are not as strict as commonly thought. To do so, you must basically be able to afford its lifestyle, in particular the very high rents and prices for real estate. To maintain resident status, it is necessary to be actually resident in Monaco for some time during the year. Monaco is perfectly situated on the French Riviera, and easily accessible by road, air, train and boat. Please click here for more information.

Panama is one of the most attractive locations for residence in America. It offers foreign citizens the option to acquire resident status, either as a financially independent person/retiree or as an investor. As an investor, permanent resident status may be obtained through a very efficient and straightforward program on the basis of a US$ 40,000 investment in a government-approved reforestation project. This immigrant investor status qualifies for Panamanian citizenship and a full passport after five years of residence. Alternatively, a financially independent person/retiree can obtain non-immigrant resident status on the basis of a term deposit with the National Bank of Panama, for a minimum period of five years, which must generate monthly interest of not less than US$ 750. Under this Retiree Residence Program, a Panamanian non-citizens passport is issued immediately to the person obtaining such resident status. However, this program is of limited interest, as this resident status never leads to citizenship and the passport issued on this basis is a non-citizens passport which is not recognized as a valid travel document by many countries. Residents of Panama enjoy a privileged tax status as only local-source income is taxed. As long as he abides by the rules of the respective residence permit, a residence permit holder need not spend any particular time actually residing in Panama. Please enquire for more information and advice.

Slovakia, with its capital Bratislava just good half hour drive away from Vienna, offers the possibility for persons of independent means to acquire full resident status in the European Union with minimal requirements. A Slovak residence permit allows its holder to travel to all Schengen states without the need for a visa. After eight years of legal residence, it is possible to apply for Slovak citizenship. Slovak citizenship may also be available within a shorter period of time, or even within months, for qualified individuals who contribute significantly to the country's interests. Henley & Partners offers the Slovakia Residence Program, a fixed-fee service package for non-EU citizens who are interested in obtaining a residence permit in the Slovak Republic. Please contact us for more information and professional advice.

Switzerland offers very interesting conditions to companies, investors and wealthy individuals. In many ways it is the ultimate choice for business and residence in Europe. Contrary to widespread belief, it is no more difficult to become resident in Switzerland than in most other European countries. There is the interesting option of a lump-sum tax arrangement instead of the usual taxation on worldwide income and net wealth. The possibility of lump-sum tax, but also the high degree of privacy and personal security enjoyed by all its inhabitants, make Switzerland the residence of choice of many celebrities and wealthy individuals. Henley & Partners offers the SRP Swiss Residence Program^®, a fixed-fee service package for non-EU citizens who are interested in obtaining a residence permit in Switzerland, as well as a special fixed-fee package for EU citizens who just wish to take advantage of Henley & Partners' know-how and experience in arranging lump-sum tax arrangements. Please click here for more information.

The United Kingdom is the only major country in Europe where it is possible for non-domiciled residents to pay limited tax or even no tax at all, at least during the first 7 years of residence. An individual who is resident in the UK for tax purposes but is not domiciled there (known as a "non-dom") is liable to UK tax only on income and capital gains arising in the UK, or on non-UK income and capital gains which are brought into the UK, and on certain transfers of UK property. Prior to establishing residence, it is important to be careful about pre-residence planning to minimize taxable remittances. The immigration categories include investors, business entrepreneurs, representatives of foreign companies, work permit holders, retired persons of independent means who can show close ties to the United Kingdom, and others. It is possible to acquire UK citizenship after 5 years of residence, but strict requirements for physical presence apply.