Residency by investment programs in Europe offer investors and their families the opportunity to live, work, and travel within the region. These programs provide unique advantages, including access to the European market, attractive investment opportunities, and enhanced lifestyle benefits. Here, we compare the residency by investment programs offered by Serbia and Greece, highlighting which types of investors each program serves best.
Routes to Residency
Serbia’s Residency by Investment program offers two primary pathways: Residency by Company Formation and Residency by Real Estate Investment. The first route allows foreign nationals to gain Serbian residency by investing in a Serbian company and meeting specific criteria. The initial fees for establishing a company and applying for residency are around €5000, covering setup and administrative costs. Alternatively, investors can obtain residency through the purchase of property in Serbia. The initial expenditure for the residency process is approximately €3000, and houses can be found for as little as €10,000.
Greece’s Golden Visa program is facing changes by the end of August of this year where the real estate investment amount will be divided in tiers per region. For high-demand areas such as Attica, Thessaloniki, Mykonos, Santorini, and islands with a population of more than 3,100 inhabitants, the minimum investment is €800,000. For the rest of the country, the threshold is €400,000. There is also an option for a minimum investment of €250,000 for non-residential buildings converted to residential use or listed buildings undergoing restoration. In addition to real estate, Greece offers other investment avenues, including a contribution of at least €400,000 to a company headquartered in Greece or the purchase of Greek treasury bonds, shares, or other financial instruments with specified minimum amounts.
Investment amounts
In Serbia, the initial costs for the Residency by Company Formation route are €5000, with yearly expenses starting from €5000. The Residency by Real Estate Investment route requires an initial expenditure of €3000, with annual maintenance costs around €1,000.
In Greece, the real estate investment thresholds are €800,000 in high-demand areas, €400,000 in other regions, and €250,000 for conversions and restorations. Other investment options require minimum contributions and purchases ranging from €400,000 to €800,000 depending on the type of investment.
Benefits
Serbia offers proximity to the EU and great connectivity and coverage of West Balkans, making it strategically located for business operations. The country has a favorable tax environment with a 15% corporate tax rate and a lower cost of living compared to EU countries. Greece, on the other hand, provides full access to Schengen Area. The Greek Golden Visa program has a simplified application process with minimal bureaucracy and extends residency benefits to three generations of the investor’s family. There is no mandatory residency requirement, and only one visit is required for biometrics submission, with the rest of the process handled by a legal representative through a Power of Attorney.
Relocation options
Serbia requires physical presence for business operations or property management, generally offering more opportunities for settling and relocation. Life in the major cities is set in an urban environment with options for good business connections, competitive labor market and low cost of living, specifically adapted for family life. In contrast, Greece’s program does not have a mandatory residency requirement, more fitting investors who want greater flexibility.
Different needs are covered by different programs
Serbia’s program is ideal for entrepreneurs and business owners looking to establish or expand operations in Europe with a lower initial investment and operational costs. It is also suitable for individuals interested in low-cost real estate investments with potential for long-term returns and those who value being close to the EU while benefiting from a favorable tax regime and lower living costs.
Greece’s program caters to high-net-worth individuals who are looking meet the higher investment thresholds and are looking for full access to Schengen Area. Additionally, it is ideal for investors who prefer not to be tied to a specific residency requirement, allowing for greater freedom in managing their lifestyle and investments.
In summary, Serbia offers a cost-effective and strategically located residency option suited for relocation, while Greece provides a comprehensive, flexible residency program with EU benefits. Each program caters to different types of investors, ensuring a suitable option for various investment goals and preferences.
