Options for obtaining European residency in 2024

The start of a new year is often the perfect time to reflect on our life plans. These might be long-planned aspirations, something others have already done that appeals to you, or simply the desire for an alternative for yourself and your family.

Obtaining residency in a European country can certainly be one of these cases. While it's not an easy process, with the right guidance it's entirely feasible. In this blog, we'll discuss the opportunities available in Portugal, Spain, and Greece, so you can evaluate which is best for you. 

If you're looking to work remotely while living in Europe, Digital Nomad visas are what you need. These allow you to live in the host country while maintaining your employment ties to your home country. The specific requirements for each country are:

• SpainYou must have at least one year of employment history and an income equivalent to twice the Spanish minimum wage. Latin American applicants can begin the naturalization process after two years with this visa (more details below).
• PortugalYou must prove a salary higher than four times the Portuguese minimum wage. One incentive is that if you maintain legal residency in the country for five years, you can begin the naturalization process.
• GreeceHere you must prove a salary equal to or greater than €3.500 per month. If you wish to travel with your partner, the requirement increases: you must prove an income of €4.200 per month.

You may have considered becoming a citizen . It's an option, especially for Spain and Portugal, but it's a slow process and not easy to achieve in less than a year. In this case, there are two interesting options:

• Law of Grandchildren (Spain)This law is aimed at children, grandchildren or great-grandchildren of Spaniards born outside of Spain, who were originally Spanish and can prove the nationality of their ancestor through a birth certificate. You can read more about this topic here.. 
• Sephardic Law (Portugal)If your ancestors were Sephardic Jews and you have a verifiable link to Portugal, you can become a Portuguese citizen under this law. It requires a genealogical research process that you can begin from Chile. Learn more about this topic here.

Another option that attracts people from all over the world is the so-called Golden Visa Program, which authorizes residency through investment in a country. We'll briefly detail the main features of these programs:

• SpainThis program stands out for the rapid granting of the Golden Visa, allowing for wealth diversification through a €500,000 real estate investment. It is important to note that citizens of Latin America and former colonies can obtain Spanish citizenship (passport) with only 2 years of residency in the country.
• PortugalIt stands out in Europe by allowing foreign investors to obtain citizenship in just 5 years, without mandatory continuous residency. It offers investment options starting from €500,000 in funds or €200,000 in artistic projects, providing an accelerated path to Portuguese citizenship.
• GreeceThis program is ideal for those seeking quick residency with a low investment, starting at €250,000 in property, obtaining residency in just 1-2 months. However, citizenship (passport) is only possible after 7 years of residency in the country.

As you can see, there are several ways to obtain residency in Europe. Not all of them lead to the same destination, which is why it's important to seek advice from international mobility experts, such as AIM Global. 

Schedule a meeting with our team and we'll help you find a new future. Our team handles the legal details, allowing you to focus on your business, professional, and personal goals.