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If you are interested in adding residency in another country but maintaining citizenship in your home country, there are many different options. You may need a job to gain your residency visa, or you may need to purchase property or invest in government bonds. In most situations, your children gain residency when you do as long as they are under 18 or in your residential care.
Cash Matters
If you are close to retirement and have money to invest, gaining residency in Europe may be an option. The dollars you have available will matter; in Spain, your residency will be easy if you can purchase a €500,000 house. In Malta, a €275,000 house will be enough.
In Belgium and Austria, residency can be free as long as you have a job and fulfill the requirements to stay. Because these countries are within the Schengen area, your ability to travel to many European countries from your country of residence will be easily accessible.
Working Choices
If you are a nomad and have a job that you can do from anywhere, you might consider getting a residency in Cambodia. It’s a developing country; you don’t need to make much to live very well and your travel options will be quite remarkable.
Once you pay for your business visa and hire someone to help you get your 12 month residence permit, you can enjoy the fascinating culture and remarkable history of this region for about $500.00. As of June 2022, the unemployment rate in Cambodia runs about 10%. Your best bet is to move there with a remote position or a steady freelancing history to protect your finances.
Language Concerns
If you’re interested in a second residency and don’t want to have to learn another language, Canadian residency is fairly easy to gain thanks to the OINP program. Because of OINP updates 2022, anyone with a high school diploma has options to gain residency, live and work in Ontario, Canada. If you love the Great Lakes of the United States, you can enjoy them even more from the north!
You can also spend up to 90 days in Ireland on a travel visa before getting your Irish Residency Permit. Do be aware that some of these submittals must be made via post and that you will need to allow time for your documents to clear.
Your Comfort Level
Do take time to seriously consider what your comfort level is. For example, you can get your residency in Armenia for a very small investment and the cost of living is low for a country that offers many benefits of the developed world.
However, life in the Caucasus may not be a logical or healthy choice for your family. Armenia is landlocked; if you love the sea you can travel north to the beaches of Georgia. Until recently, Armenia was part of the Soviet bloc; if you are involved in the field of engineering, design or construction it may be quite easy to find work here.
Of course, if you are remotely interested in history, Armenia is a remarkable place to study and a terrific jumping off point. Turkey, Russia and Syria both offer tremendous opportunities to study ancient cultures. Do come prepared to learn a new language; while you may be able to earn your living as an English instructor, you will need Armenian to function well in this growing society.
Time In Country
If you’re looking to gain a partial residency in another country, do check the amount of time you need to spend in that country to establish your residency. For example, part-time residency in Nicaragua is quite cheap to establish and you can live well on very little, but you need to stay there 6 months out of the year. Panama will require a larger investment, but as long as you’re only seeking residency and not citizenship, you actually don’t need to be in-country for an extended period of time each year.
Conclusion
Bring dollars for investing in your new country of residence. Be ready to set up a bank account and make sure you have an international credit card that does not charge extreme fees for exchanges. Connect with ex-pats in the region to find housing that will best suit your family and dig in!
