If You Have 500 Million for Shopping with European Nationality... What Are the Immigration Requirements for 'Asia's Leading Developed Countries'?

Multiple Countries Including Malta and Cyprus in the EU

Interest in 'investment immigration' has grown since the COVID-19 pandemic. In fact, small countries with insufficient population and industries often use investment immigration as a means to attract large amounts of capital. We looked into the most representative investment immigration countries worldwide.

Cyprus with No Inheritance or Gift Tax

Cyprus [Image source=Pixabay]

Cyprus is a member of the European Union (EU), but unlike Western European developed countries, it is famous for its low taxes. Notably, it has the lowest corporate tax rate in Europe and no inheritance or gift taxes. Because of this, it is said that many wealthy individuals apply for investment immigration to Cyprus.

To obtain permanent residency in Cyprus, one must first prove an annual income of over 30,000 euros (approximately 43 million KRW) and purchase newly built real estate worth 300,000 euros (approximately 430 million KRW) locally in Cyprus. Additionally, 30,000 euros must be deposited in a local bank for three years. In total, an investment of 330,000 euros (470 million KRW) is required.

Malta: Freedom for Both Employment and Business

Actress Ahn Hye-kyung visiting Malta [Image source=Instagram]

Another EU member country, Malta, is an island nation in Southern Europe. With an area of 316 km² (only about half the size of Seoul), it is home to approximately 510,000 people. Obtaining permanent residency in Malta allows one to freely conduct business, work, study, and reside in other EU countries. This is because Malta is a signatory to the EU 'Schengen Agreement,' which guarantees freedom of movement.

For this reason, the route through Malta to enter Europe is always popular. To apply for investment immigration in Malta, a mandatory donation of 30,000 euros must be made to the government, and government bonds worth 250,000 euros must be held for five years. Renting local real estate is also mandatory. In summary, an investment of 280,000 euros plus local real estate ownership qualifies one for Malta's investment immigration.

The Maltese government also supports permanent residency acquisition for an individual's spouse, parents, grandparents, and children. To apply for additional dependents, an extra 5,000 euros per person must be paid.

Asia's Most Advanced Country... Singapore with Strict Eligibility Requirements

Singapore [Image source=Pixabay]

Singapore, a leading developed country in Asia and a Southeast Asian city-state, operates an investment immigration program called 'GIP.' As a wealthy country with one of the top five highest per capita GDPs globally, Singapore's investment immigration conditions are relatively stringent compared to other countries.

First, eligibility is granted to corporations with an average annual revenue exceeding 200 million Singapore dollars (approximately 195.6 billion KRW) over three years, or individuals holding at least 30% equity in such companies.

If eligible, applicants must invest 2.5 million Singapore dollars (approximately 240 million KRW) in a new or existing Singaporean company or invest the same amount in a GIP fund. Upon submitting proof of the investment, permanent residency is granted.