Obtaining permanent residency in Europe offers foreign nationals the privilege of residing and working in a European country indefinitely, sparing them from the hassle of renewing temporary visas or permits. This status provides long-term stability and the advantages of living in a foreign nation without necessitating full citizenship.
Permanent residency in Europe, or getting a blue card, is often regarded as a stepping stone towards eventual citizenship. For more insights on European citizenship, read our article 10 easiest countries in Europe to get citizenship. The specific eligibility requirements for European permanent residency can differ from one country to another. Nonetheless, typical criteria encompass a residency period of 5 to 10 years, a requirement to maintain a valid visa or residence permit, potential language proficiency prerequisites, a clean criminal record, and a demonstration of financial stability.
European Immigration: An Overview
As reported by Euronews Travel on April 25, the European Union is considering reducing the minimum residency requirement for non-EU nationals from five years to three. Individuals may also combine residency periods in different EU member states to meet the three-year threshold. During this period, they must not leave the host country for more than six months in any given year, nor for a total of 10 months over the five-year period. Once achieved, residents would be free to move to other member states without work-related restrictions. The proposal extends this status to their children. However, these changes are pending approval by EU member states and are expected to be finalized by February 2024.
Permanent residency in Europe can be pursued through various avenues. Marriage to a European citizen is the most straightforward method, provided the union is genuine and not for residency purposes alone. Employment opportunities can lead to permanent residency, with some countries offering pathways after meeting specific time requirements. Entrepreneurship presents an option if your business is successful and generates jobs. Educational pursuits may lead to permanent residency, with enrollment at a European university and specific study durations varying by country. Additionally, retirees with financial independence and retirement age can explore securing a retirement visa in Europe as an option for residency.
Investment Opportunities in Europe
Investment prospects in Europe remain promising, with the region's stable economic environment and ongoing commitment to innovation and sustainability. As the European Union continues to prioritize renewable energy, digital transformation, and green initiatives, opportunities abound for forward-thinking investors. Additionally, the resilience of European economies and the potential for growth in emerging markets within the continent make it an attractive destination for those seeking long-term returns.
Some prominent stocks to consider in Europe span a range of industries and can align with various investment strategies. A few examples of European companies that have been attracting investors' attention include Novo Nordisk A/S (NYSE:NVO), Accenture Plc (NYSE:ACN), TotalEnergies SE (NYSE:TTE).
On September 5 BBC reported that Novo Nordisk A/S (NYSE:NVO), the maker of the weight-loss drug Wegovy, surpassed French luxury conglomerate LVMH to become Europe's most valuable firm with a stock market valuation of $428 billion (£339 billion) after launching the drug in the UK. Wegovy, an obesity treatment, has gained popularity, even among celebrities like Elon Musk, but experts caution it's not a quick fix. The NHS in the UK offers Wegovy to significantly overweight individuals with weight-related health problems, as nearly one in three UK adults is obese according to the OECD. A recent trial suggests Wegovy can reduce the risk of a stroke or heart attack, pending further review.
On October 10, Accenture Plc (NYSE:ACN) reported that it invested in Aliro Quantum through Accenture Ventures to support the development of secure quantum networks. This partnership will enhance secure data and communication capabilities. Aliro's solutions automate quantum network management for secure communication, quantum computing scalability, distributed quantum sensing, and the quantum internet. They use entanglement-based quantum cryptography to ensure shared knowledge and outcomes while minimizing third-party risks.
As reported by Gas World on July 25, TotalEnergies SE (NYSE:TTE) has publicly announced its intention to acquire the shares of Independent Power Producer (IPP) Total Eren, increasing its ownership from almost 30% to a full 100%. This development follows a strategic agreement formed between the two companies in 2017, granting TotalEnergies the right to purchase all of Total Eren, previously recognized as EREN RE, after a five-year period. The acquisition of the remaining 70.8% signifies a net investment of almost €1.5 billion, approximately $1.6 billion, for TotalEnergies SE (NYSE:TTE). Post-integration, TotalEnergies' Integrated Power Net Operating Income is expected to increase by an estimated €160 million, approximately $168.8 million, along with a projected CFFO boost of around €400 million, approximately $422 million, in 2024.
Now that we have discussed recent developments in the European market, let's take a look at the 15 easiest countries to get permanent residency in Europe without investment.
15 Easiest Countries to get Permanent Residency in Europe without Investment
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Methodology
To determine the 15 easiest European countries for obtaining permanent residency without investment, we focused primarily on work visas as the most accessible pathway. Work visas offer a practical and cost-effective route to permanent residency. We relied on data from the Migrant Integration Policy Index 2020, taking into account metrics for permanent residency prospects for foreign workers, labor market mobility, and family reunion scores in each nation. By averaging these three scores, we identified countries that facilitate smoother relocation without investment. A higher average score indicates a more favorable ranking. Let’s now move to our list of 15 Easiest Countries to get permanent residency in Europe without Investment.
15 Easiest Countries to get Permanent Residency in Europe Without Investment
15. Albania
Labor Market Mobility: 46
Family Reunion: 61
Permanent Residence Certainty: 54
Average Score: 53.6
According to Fragomen, individuals from the European Union, the United States, and Western Balkan nations, including Bosnia and Herzegovina, Montenegro, Kosovo, North Macedonia, and Serbia, now have the opportunity to live in Albania for a maximum of five years through the Unique Permit. In contrast, the previous regulation only allowed them to obtain a one-year Residence Permit, which could be renewed twice for two-year extensions on each stay. Subsequent to this five-year period, they become eligible to apply for a Permanent Residence Permit in Albania. Furthermore, the Unique Permit will serve as a replacement for the Certificate of Exemption, which was formerly required for these nationals. This certificate granted an exemption from the work permit requirement for those who were employed for up to 90 days within a 180-day period. Existing exemption certificates will remain valid until their specified expiration date.
14. Czechia
Labor Market Mobility: 54
Family Reunion: 63
Permanent Residence Certainty: 50
Average Score: 55.6
Gaining permanent residency in Czechia allows individuals to reside and work in the country indefinitely, along with access to the nation's social benefits and healthcare system. To initiate the application process for permanent residency, foreign nationals are required to exhibit a basic proficiency in the Czech language by successfully passing an A2-level language test. Applications should be submitted in person at the appropriate Ministry of the Interior office, corresponding to the registered place of residence, and include original or certified copies of the necessary documents. These documents encompass a travel document, evidence of accommodation, proof of adequate funds for residing in the country, and a recent photograph.
13. Romania
Labor Market Mobility: 46
Family Reunion: 67
Permanent Residence Certainty: 56
Average Score: 56.3
Obtaining permanent residency in Romania is a lucrative option for those seeking long-term residence in the country and is one of the easiest countries to get permanent residency in Europe without investment. The process typically involves demonstrating financial stability, a clean criminal record, and a continuous legal stay in Romania for a specified period. Permanent residency provides a pathway to access the country's excellent healthcare and education systems, making it an appealing choice for expatriates and investors alike.
12. Iceland
Labor Market Mobility: 33
Family Reunion: 62
Permanent Residence Certainty: 77
Average Score: 57.3
Iceland provides opportunities for long-term residency through permanent residence permits. Two primary routes include obtaining permanent residency through work and residence permits, which requires approximately four years of legal employment in Iceland, and family reunification, which is available to family members of Icelandic citizens or permanent residents.
11. Slovenia
Labor Market Mobility: 26
Family Reunion: 72
Permanent Residence Certainty: 77
Average Score: 58.3
To acquire permanent residency in Slovenia, individuals from abroad who have maintained uninterrupted residence in Slovenia for a continuous period of five years are eligible to apply for a permanent residence permit. This permit, once granted, remains valid for ten years and can subsequently be extended. Certain prerequisites must be satisfied in order to be eligible for a permanent residence permit, which encompass having a legitimate motive for relocating to Slovenia, such as being in possession of a work permit or a student visa. Alternatively, permanent residency can be attained through other means, which include having Slovenian heritage, being accorded refugee status, or being a relative of a foreign national who holds a permanent residence permit or refugee status.
10. Hungary
Labor Market Mobility: 37
Family Reunion: 58
Permanent Residence Certainty: 81
Average Score: 58.6
Hungary offers permanent residency through work visas to skilled individuals and their families, allowing them to live and work in the country. Family reunion programs are also available for reuniting with immediate family members who are already residents or citizens.
9. Germany
Labor Market Mobility: 81
Family Reunion: 42
Permanent Residence Certainty: 54
Average Score: 59
Germany's work visa program can lead to permanent residency for qualified professionals, with options for family reunification. Spouses and dependent children can join the primary visa holder, making it easier to establish a long-term life in the country.
For investors looking to enter into the European market, some of the top stocks to consider investing in include Novo Nordisk A/S (NYSE:NVO), Accenture Plc (NYSE:ACN), and TotalEnergies SE (NYSE:TTE).
8. Belgium
Labor Market Mobility: 56
Family Reunion: 48
Permanent Residence Certainty: 75
Average Score: 59.6
Belgium provides pathways to permanent residency for those holding work visas. Family reunion policies are in place to facilitate the reunification of families with their loved ones already residing in Belgium, fostering a sense of belonging.
7. Italy
Labor Market Mobility: 67
Family Reunion: 64
Permanent Residence Certainty: 67
Average Score: 66
In Italy, work visa holders have the potential to attain permanent residency, and family members can often join them through family reunion programs, fostering a sense of unity and togetherness. The country with its ease of granting permanent residency in Europe without investment, ranks 7th on our list.
6. Spain
Labor Market Mobility: 67
Family Reunion: 69
Permanent Residence Certainty: 75
Average Score: 70.3
Spain's work visa programs can lead to permanent residency, making it an attractive option for those seeking long-term opportunities. Family reunification processes allow loved ones to join their family members in Spain, creating a supportive and stable environment.
Some of the top European stocks to buy according to hedge funds include Novo Nordisk A/S (NYSE:NVO), Accenture Plc (NYSE:ACN), and TotalEnergies SE (NYSE:TTE).
