If you’re a US citizen looking for a taste of life in Europe, you might be intimidated by the process of relocating, which many assume to be logistically taxing and financially complex. However, if you choose your relocation destination carefully, you can drastically reduce the workload and stress levels associated with moving abroad by making the most of residency schemes that are in place to attract expats.
Portugal
Portugal is currently the most popular European destination for US expats and tourists, attracting tens of thousands of Americans every year. From Porto to the Algarve, there’s an abundance of beautiful towns, cities, and villages to settle down in, and the country is renowned for offering a high quality of life with an affordable cost of living to match. Portugal has welcomed expats from across the globe with open arms in recent years, introducing a number of visa and residency schemes to suit a range of lifestyles and personal circumstances. Some of these include:
- The Non-habitual Resident Regime NHR
- The Golden Visa
- The Digital Nomad Visa
- The D7 Visa
After living in Portugal for five years, you can then apply for citizenship and can pass this nationality onto your children if you so wish.
Spain
Bordering Portugal is another popular European destination for US expats. Spain offers many of the same benefits as Portugal but with its own distinct culture and heritage and also provides a variety of different options for those looking to experience the country’s beauty firsthand. Below are some of the residency options available to Americans:
- The Digital Nomad Visa
- The Non-Lucrative Visa
- The Spanish Golden Visa
Malta
A relatively small country in southern Europe, Malta has more than enough to offer those visiting on a short-term or more permanent basis. Besides its wonderful climate and friendly locals, the country has plenty of picturesque towns and architectural marvels to explore, and with one of the two official languages being English, language barriers shouldn’t be an issue either.
When moving to Malta, you have two visa options to choose from:
- Malta Permanent Residence Programme
- Maltese Granting of Citizenship for Exceptional Services (investment based)
You can also obtain Maltese citizenship in as little as 14 months, depending on individual circumstances.
Greece
Perhaps best known for its rustic yet charming islands along its coastline, Greece has an equally attractive mainland offering everything from sprawling metropolises to quaint villages. Along with picture-perfect beaches and incredible food, Greece is also renowned for its affordable property, making it an excellent option for working expats looking to get on the property ladder or retirees searching for an idyllic Mediterranean hideaway.
Greece offers the following visa options:
- The Golden Visa Programme
- Greek Digital Nomad Visa
- Residency by Independent Means (ideal for retirees with pensions)
You can apply for citizenship after seven years of living in Greece and make this beautiful country home for good.
The Netherlands
One of the most popular destinations for working expats, The Netherlands has made it especially easy for Americans to get residency in the country through the Dutch-American Friendship Treaty. This treaty enables US citizens to gain residency in the country when setting up a business there or working as a freelancer. After setting up shop – physical or online – you can apply for citizenship after five years.
How can Blacktower help?
If you’re a US citizen looking to move to Europe but are unsure where to start, Blacktower is here to help. We offer a range of expat-tailored services, including full financial reviews, tax planning solutions and currency exchange solutions, and can work with you to transfer your financial arrangements overseas.
To arrange a complimentary, no-obligation consultation, click the link below.
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This communication is for informational purposes only and is not intended to constitute as investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
Investment advice and investment advisory services offered and provided through Blacktower Financial Management US, LLC. This communication is for informational purposes only based on our understanding of current legislation and practices which are subject to change and are not intended to constitute, and should not be construed as, investment advice, tax advice, tax recommendations, investment recommendations or investment research. You should seek advice from a professional before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.