These 12 Affordable Residency Programs in Europe Make Moving Abroad a No-Brainer
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The most affordable residency programs in Europe offer an easier route to life in Europe. There’s no denying that obtaining residency in a new country can be difficult. For example, did you know it costs €400,000 ($422,800) to obtain residency in Greece through investment?
However, cheaper residency programs make the entire process much easier. You don’t need as much money to obtain residency, and the process can be smoother and faster. Many of Europe’s residency permits also include access to the Schengen Area.
To show you what’s available, we’ve compiled a list of 12 of Europe’s most affordable residency programs. The programs on our list allow you to make a more affordable transition into Europe.
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Bulgaria
Bulgaria offers several residency programs that make it easier for foreign nationals to move to Europe. The residency by investment program and Bulgaria Golden Visa are expensive, costing over €300,000 ($310,000) and €500,000 ($525,000), but more affordable programs exist. For example, you can affordably obtain residency in Bulgaria through family reunification for as little as €100 ($105).
If you don’t have family from Bulgaria, you can also obtain residency by registering a Trade Representative Office of a foreign company in Bulgaria for less than €200 ($210). Other methods for securing residency include registering a Bulgarian limited company and setting up a foundation. Alternatively, you could invest €300,000 ($310,000), which is still more affordable than other European residency by-investment programs.
Read also: Get Paid While Living in Europe
Belgium
Belgium’s residency programs allow foreign nationals who wish to live in the country to do so through employment or company establishment. Non-European citizens are required to have a work permit to work in Belgium. Furthermore, nationals who have obtained a work permit must also apply for a D-visa (national long-stay visa) if they wish to remain in Belgium for more than 90 days.
Workers legally residing in Belgium can apply for a residence permit at the municipal administration of their residence. Regarding costs, a Belgium work permit costs approximately €180 ($190). Meanwhile, a long-stay D-visa costs €180 ($190).
Alternatively, you could invest in the Belgium residency by investment program for at least €200,000 ($210,000), €300,000 ($216,000) less than the required investment in Spain.
Read also: Accessible Work Visa Options in Europe
Portugal
Portugal offers one of Europe’s most fascinating residency programs. If you don’t mind playing the long game, you could take up permanent residency in Portugal for less than €500 ($526). To affordably move to Portugal, you must live there for five years.
After that, you can apply for naturalization or a permanent residence permit, both of which cost less than €160 ($168). How do you live in Portugal for five years, we hear you ask? Well, you can apply for a work permit.
A work permit in Portugal allows you to live and work there for one to two years and is renewable. The total cost of a work permit in Portugal is €245 ($258), bringing your total costs to approximately €418 ($440).
Read also: Must-See Cheap Cities in Europe
Ireland
Ireland offers one of the simplest and most affordable residency programs in Europe. You can obtain permanent residency in Ireland through work and the long-term residency scheme. First, you must apply for a work permit.
Several work permits are offered in Ireland, most costing approximately €1,000 to €1,300 ($1,053 to $1,370), including fees. A General Work Permit can be issued for an initial two years and renewed for a further three. After five years of living and working in Ireland, you can apply for a long-term residency.
Long-term residency in Ireland costs approximately €500 ($526) and grants residency in Ireland for five years. Alternatively, you could apply for naturalization after living in Ireland for five years.
Read also: Europe’s Most Wallet-Friendly Beaches
Latvia
Latvia’s residency by investment program is one of Europe’s, if not the world’s, most affordable. Individuals wanting to move to Latvia can obtain residency through investment for as little as €50,000 ($52,900). That may sound expensive to some, but it’s much more affordable than other residency-by-investment programs.
For context, the minimum investment in Italy’s program is €250,000 ($264,000). Besides, you can make your investment in real estate, which you’ll likely already be doing if you move to Latvia. Latvia’s residency program also accepts business investments.
Once accepted, the Latvian Government allows investors to live and work in Latvia for five years. Your permit also gives you the freedom to travel to the Schengen Area.
Read also: Europe’s Golden Visa Programs
Malta
Malta also offers one of Europe’s most affordable residence programs. Like Latvia, you can easily obtain residency in Malta through investment. From January 2025, the initial minimum investment you must make to obtain permanent residency in Malta is €66,000 ($69,481).
However, there is a potential stumbling block. To be eligible for the Malta Permanent Residence Program, applicants must have capital assets valued at least €500,000 ($526,330). Therefore, a working permit that allows you to reside and work in Malta might be more appropriate.
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A Maltese work and residence permit costs less than €300 ($315) and grants one-year, renewable entry to Malta. After five years, you can apply for permanent residency.
Read also: The Most Secure Cities Across Europe
Albania
Albania has one of the best residency programs in Europe for American citizens. The Albanian residency program offers several methods for obtaining residency. This includes:
- Residency by Investment
- Business Immigration
- Family Reunification
- Marriage
- Employment
Better yet, Americans can live in Albania for one year without a residence permit to see if they like it. However, you must purchase a work permit to live and work in the country. A work permit only costs ALL 6,000 ($65).
Those wishing to invest in Albania will be pleased to hear they only need to own 50% of a property. For example, you could purchase 50% of an apartment in Tirana for less than $50,000. The right to permanent residence in Albania can be obtained after five years.
Read also: European Places for Digital Nomad Visas
Germany
Germany offers one of the most diverse programs in Europe. Like Albania, there are several different ways to obtain residency in Germany. This includes residency by investment, the Opportunity Card, the Blue Card, and the German Entrepreneurial Residency Program.
The German Entrepreneurial Residency Program is a top choice because you can obtain permanent residency in Germany in three years. However, you must be able to invest €360,000 ($379,340) within three years. That said, the Blue Card and the Opportunity Card are better options if you have a smaller budget.
Both allow foreign nationals to live and work in Germany for approximately €100 ($105). After three to five years, you can apply for German citizenship.
Read also: Cheap European Places for Digital Nomads
Denmark
Denmark’s Start-Up scheme is one of Europe’s most innovative residency programs. Start-Up Denmark is a program aimed at foreign entrepreneurs. It allows business-minded people with an idea to obtain a Danish residence permit through establishing and running a company in Denmark. Once accepted, entrepreneurs are granted a renewable two-year residence permit.
The costs associated with the Start-Up program depend on your business. However, some prerequisites must be met. For example, you must prove you have DKK 143,328 ($20,220).
You must also have your business plan approved by the Startup Denmark expert panel and pay a DKK 1,900 ($270) processing fee. The processing time for the Start-Up scheme is usually one month.
Read also: Budget-Friendly Getaways in Europe
Netherlands
The Netherlands has one of the best residency programs in Europe because there are several affordable ways to obtain residency. One of the cheapest ways to obtain residency in the Netherlands is through employment. Foreign nationals wanting to live and work in the Netherlands can do so for less than €400 ($420).
However, your line of work must be of essential interest to the Netherlands economy. You can also obtain a residence permit in the Netherlands through a business start-up. Either way, your permit will be valid for up to two years.
After living and working in the Netherlands for five years, you no longer need a work permit. Instead, you can apply for a permanent residence permit for €228 ($240).
Read also: Cheap Residency in European Countries
Montenegro
Montenegro is another European nation that offers an v through an investment program. You can obtain residency through investment by purchasing property or investing in a business in Montenegro. The Montenegrin government doesn’t enforce a minimum investment to make obtaining residency easier for investors.
Therefore, your initial investment can be as low or as high as you like, so long as you stick to the criteria and invest in real estate or a business. As a result, you don’t need to spend hundreds of thousands of dollars to get permanent residency in Montenegro. If you find the right property, you could spend less than €60,000 ($63,190). Sounds great, right?
Read also: Beauty of Europe’s Finest Cities
France
In France, you can obtain residency by founding a start-up business. You can obtain residency in France under the Talent Passport program if you have an innovative business idea and sufficient financial needs. This permit grants entry to France for four years and is renewable.
While setting up a business can be challenging, you only need to prove you can make €21,621.60 ($22,740.55) annually to obtain a start-up residence permit in France. Of course, your business idea must also be approved. If you don’t want to start a business, you can apply for a long-stay visa equivalent to a residence permit.
This visa allows applicants to live in France for up to one year without a residence permit. After that, individuals must apply for a residence permit corresponding to their circumstances.
Read also: European Destinations Without a Visa
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