Over the last few years, Evan Paul, founder at Paul Advisory & Legal Group, has seen an uptick in high-net-worth families asking about international residency programs.
While tax planning is obviously a motivating factor, Paul stated that, for most Americans, the decision to relocate abroad “is typically driven by a combination of factors: lifestyle flexibility, geopolitical diversification, asset protection and long-term wealth planning.”
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What’s in it for the other countries? Well, that’s easy: money. High-net-worth Americans bring investment capital, entrepreneurial activity and long-term consumption into local economies — which is why they’re sought after.
Here are seven countries competing to attract wealthy Americans — and what they’re offering.
Portugal
Portugal’s Golden Visa allows Americans to gain a fast-track to legal residency (and eventual citizenship) with a minimum €250,000 to €500,000 economic investment. According to Tytle, the country overhauled its tax system in 2024, effectively reducing the tax burden for eligible professionals thinking about moving there.
Visas extend to spouses and dependents, and applicants need only spend seven days a year in Portugal — a major selling point for those who want access without full relocation. Additionally, per Adalberto Pucca, head of mobility at Global Citizen Solutions, Portugal’s cost of living is 30% to 40% below U.S. norms.
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Italy
Italy’s flat tax regimes are appealing for wealthy Americans: The most popular option is a €300,000 flat tax annually on foreign-generated income — which, according to Reza Motalebpour, chief global mobility officer at INGWE Immigration Inc., is “a predictability internationally mobile families like.”
Plus, Italy’s renowned cuisine and quality of life speak for themselves. Golden Visas are available with a minimum €250,000 to €2 million economic investment.
Greece
Motalebpour said Greece offers one of the lowest non-domiciled tax regimes in Europe: A €100,000 annual lump sum tax on foreign-sourced income, provided new residents make a €500,000 investment within three years. Golden Visas are available with a minimum €250,000 to €800,000 economic investment.
United Arab Emirates
Not only are property taxes 70% lower than in the U.S., the UAE offers advanced healthcare and tailored legal structures for customized estate planning. And, per Paul, residents do not have to pay personal income tax. Golden Visas are available for 2 million AED.
Panama
Panama’s territorial tax system is a major draw: Residents pay no income, corporate or capital gains taxes on foreign-earned income. Additionally, Panama has no inheritance tax and the country uses the U.S. dollar which provides extra stability. Golden Visas are available with a minimum $300,000 economic investment; Friendly Nations Visas are available with a minimum $200,000 investment.
Malta
Per Pucca, Malta is of one of only two English-speaking member states in the European Union. It offers high-quality public and private healthcare and carries favorable tax incentives including no wealth, inheritance or gift taxes. Golden Visas are available with a roughly €150,000 to €300,000 economic investment, per Citizens Remote.
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This article originally appeared on GOBankingRates.com: 6 Countries Competing To Attract America’s Wealthy With Tax Perks
