Top 5 EU citizenship programmes for South Africans

The European Union countries grant citizenship to 600—800 thousand people each year. Becoming a citizen in any of the 27 EU countries gives South Africans the right to travel without visas to over 170 countries and live, work, and build a business in any EU state.

European countries attract wealthy Africans willing to invest in their economy by offering a simplified naturalisation path. Immigrant Invest accompanies clients through the entire process of obtaining second citizenship and residence permits by investment.

Let us explain the requirements and benefits of the five best citizenship programs, so you can choose the most suitable one.

Why foreigners choose EU citizenship

In the recent World Happiness Report, 11 countries out of the top 20 were EU members. People worldwide consider moving to the EU because of the opportunities it offers, the high level of living, and access to the best healthcare and education facilities.

A European passport can not be obtained directly by investment. The process of ordinary naturalisation typically takes 6–12 years of residence. In Austria, it may take up to 30 years. However, some countries provide citizenship and residence programmes, which allow you to considerably simplify the way to EU citizenship by investing in the country’s economy.

We have selected five programmes with the best combinations of affordable investment amounts and optimal process timeframe — Malta, Portugal, Greece, Cyprus, and Spain. All countries on the list allow dual citizenship — the only exception is Spain.

Each of the programmes helps you to become a rightful EU citizen. The opportunity comes with at least eight significant benefits. Getting an EU passport allows you and your family members to do the following:

1. Live and stay in any of the 27 EU countries without restrictions, even when the borders are closed.
2. Travel visa-free to about 170 countries, including ones outside the EU, such as Norway, Lichtenstein, Iceland, and Switzerland. A South African passport allows visiting 105 countries without a visa.
3. Rent, buy, and sell property in any country within the European Union.
4. Work in any EU country and possibly have preference over non-citizens. In some countries like Austria, having only a residence permit can prevent you from working there.
5. Set up business in any EU state with better conditions. In comparison to non-citizens, EU passport holders can register a business faster.
6. Open a bank account, get a loan, or extend a credit limit in European banks.
7. Access worldly-recognised education, excellent healthcare, and social security such as cash benefits and pension.
8. Enjoy high standards of living and safety. The level depends on the country, but on average, the European Union offers a more comfortable life than most countries in the world.

Since there is no instant citizenship program in Europe, obtaining EU citizenship by naturalisation with the help of investment programs usually takes about five years. Each country has its specific process and requirements.

Malta citizenship for South Africans

Minimum investment: €690,000

Citizenship obtaining period: 1 or 3 years

Malta offers citizenship for exceptional services by direct investment. Among other countries on the list, obtaining Malta citizenship as an investor takes the least time.

South African investors and their family members acquire a Maltese passport by naturalisation. They get a residence permit, then undergo a Due Diligence check, fulfill investment requirements and apply for citizenship after 1 or 3 years. The timeframe depends on the sum of contribution to the National Development and Social Fund. You may apply if you intend to invest €690,000 or more.

There are three key conditions for investors to meet:

1. Contribute to the National Development and Social Fund. The applicant invests €600,000 if 3 years have passed since the residence permit was issued, or €750,000 after 1 year of residency.
2. Make a charitable donation of €10,000.
3. Rent a property for 5 years for at least €16,000 annually or purchase one for €700,000.

Additionally, the applicant pays at least €5,000 of state fees for residence cards and at least €3,000 of administrative fees. Each family member on the application needs to have medical insurance.

Malta citizenship by ordinary naturalisation requires you to pass language proficiency, history, and law exams and it takes at least 7 years to get it. However, if you apply for Malta citizenship by naturalisation for exceptional services by direct investment, you do not need to prove the language knowledge or take exams either before or after obtaining the passport.

No need to take any exams was one of the reasons why Reymond, an investor from South Africa, chose Malta to apply for an EU passport.

“I moved to Estonia a couple of years ago with my wife and daughters. We thought about obtaining Estonian passports as a prospect of becoming full-fledged EU citizens.

However, we faced difficulties in the process: naturalisation required applicants to know the state language and have no income in other countries. So, we started to look for new opportunities to obtain citizenship in Europe.” says Reymond.

In Malta, Reymond could rent a property instead of buying one, communicate in English and travel without a visa to the USA to visit his eldest daughter. He also managed to keep the South African passport and commercial and residential property his family owned in the home country.

Apart from the US, the passport of Malta grants visa-free access to 187 countries. The list includes Hong Kong, Singapore, South Korea, the UK, Canada, and Australia.

Portugal citizenship for South Africans

Minimum investment: €250,000

Citizenship obtaining period: 5 years

Portugal offers one of the easiest and fastest ways to acquire EU citizenship. The government of Portugal allows South African nationals and their family members to apply for citizenship after 5 years of residence without living in the country most of the time.

If you receive a residence permit by investment, you need to stay in Portugal 7 days a year to keep it. Other ways of getting a residence permit in Portugal, such as marrying a citizen, getting a job, or enrolling in a local university, require staying in the country for at least 183 days a year.

To participate in Portugal’s Golden Residence Permit Program, you need to invest at least €250,000 in the country’s economy. The program offers 8 investment options:

1. Purchase a new residential or commercial property with a minimum worth of €400,000 in sparsely populated areas or €500,000 in other regions of the country.
2. Purchase real estate built over 30 years ago or located in renovation areas. The price of the property should start at €280,000.
3. Invest €250,000 in supporting arts and restoring cultural heritage.
4. Invest at least €500,000 in scientific projects.
5. Purchase shares in investment funds worth €500,000+.
6. Invest €500,000 and more in a business which creates at least 5 jobs.
7. Transfer at least €1,500,000 to an account in a Portuguese bank.
8. Open a company which creates 10 jobs and more.

The investment amount does not change even if the investor includes their wife, children, or parents in the application. Since 2012, investment in real estate has been the most popular option — 76% of applicants choose to purchase property in Portugal.

Portugal is known for its pleasant climate, affordable cost of living and beneficial tax status. New residents in the country are exempt from paying taxes on global income due to a special Non-Habitual Resident status. A fixed tax rate on income earned in Portugal is 20%.

Portugal is also a great place to raise children. It is among the safest and most peaceful countries in the world. In 2022, Portugal was ranked 6th in the Global Peace Index. Locals are friendly to expats, and 60% of them speak English. Lisbon, the capital of Portugal, was even ranked second in a study of the healthiest cities to raise a family by CIA Landlord.

Greece citizenship for South Africans

Minimum investment: €250,000

Citizenship obtaining period: 7 years

Among EU countries granting residence permits by investment, Greece requires the least amount of investment — from €250,000 to €400,000. To apply for a residence permit in Greece, you can invest in real estate, stock, or deposits. Most options also allow you to return the invested money after 5 years.

The naturalisation process takes longer than in Malta or Portugal — 7 years. An investor needs to live in Greece for 5 years, then get permanent residence and live another 2 years. After that, they pass a citizenship attestation and finally can obtain a passport.

Same as in Portugal, investors in Greece do not have to live permanently in the country to keep their residence permit. However, investors need to live in the country to acquire a Greek passport.

The Greece residence permit program offers South Africans 6 options to choose from:

1. Buy residential or commercial property in Greece with a minimum worth of €250,000. After 5 years, you can sell the objects and return the money.
2. Rent a hotel or tourist residence for 10 years. The minimum cost — €250,000.
3. Purchase land for construction or agriculture for at least €250,000.
4. Inherit real estate worth from €250,000 or receive it as a gift.
5. Timeshare a property worth from €250,000 for 10 years. A timeshare means using the property for specific periods, for example, from June 1st to 30th every year for 10 years.
6. Open a bank deposit or buy local companies’ shares and bonds for at least €400,000. As is the case with a property, you can sell the securities and close the deposit after 5 years.

A more challenging option is suitable for financially independent South Africans and does not require investment. You get a residence permit for 2 years and then extend it for another 3 years. It includes three conditions: have a monthly income of €2,000, place at least €24,000 in a Greek bank, and reside in Greece for 183 days a year.

To apply for citizenship, investors need to live in Greece for 7 years and prove they have integrated into Greek society. Since 2021, the applicants take a written exam in the country’s language, culture, history, geography, and governmental system.

If you go all the way to Greece citizenship, you will get the benefits of any EU passport, including social benefits and transferring of status by inheritance to your children.

If you live in Greece, you surround yourself with picturesque nature, a mild Mediterranean climate, warm-hearted people, healthy cuisine and the historical legacy of the Ancient Greeks.

Compared to many EU countries, Greece is an affordable place to live. Excluding rental costs, a single person spends on living here around €730 per month, and a family of four spends about €2,470.

Cyprus citizenship for South Africans

Minimum investment: €300,000

Citizenship obtaining period: 5 years

Cyprus is an attractive place for both business and residence. There is no tax on foreign income, inheritance, and property. The corporate tax rate is 12.5%, one of the lowest in Europe. The standard corporate tax rate in South Africa is twice higher — 27%.

Cyprus also has a pleasant Mediterranean climate, low crime rate, rich history, and a healthy environment. In 2022, the European Environment Agency ranked Cyprus the first for excellent bathing water quality.

To apply for Cyprus citizenship, you need to live in the country for 5 years after receiving permanent residence. The Cyprus Golden Visa Program is the fastest way to acquire a permanent residence permit. The process takes 3 months.

The program gives the investor unlimited residency — once granted, the permanent residence permit does not need to be renewed.

Cyprus offers 4 investment options of at least €300,000 each to obtain permanent residence in the country:

1. Buy one or two residential real estate objects with a total value of €300,000 plus VAT. The standard VAT rate in Cyprus is 19%. However, if the investor plans to live in the purchased property and not rent out, VAT is reduced to 5%.
2. Purchase one or two commercial properties like shops, offices, and hotels.
3. Invest in the share capital of a Cyprus company. The chosen company needs to conduct business and employ at least 5 people in Cyprus.
4. Buy units of local investment funds in the form of AIF, AIFLNP, and RAIF.

To maintain the permanent residence status, you must visit Cyprus at least once every two years. However, you do not have to stay in the country permanently — you may come to Cyprus and leave anytime.

Spain citizenship for South Africans

Minimum investment: €500,000

Citizenship obtaining period: 10 years

The Spain Golden Visa Program is one of the most expensive and time-consuming on the list. To obtain a residence permit in Spain, you need to invest at least €500,000 in the country’s economy. In 5 years, you can apply for a permanent residence, and after another 5 years — for a Spanish passport.

Spain is the only country on the list that requires you to renounce your South African passport before obtaining a Spanish one.

There are 6 investment options in Spain:

1. Buy a residential or commercial property or land plot for at least €500,000.
2. Invest €1,000,000 in Spanish companies.
3. Put €1,000,000 in a deposit account in a Spanish bank.
4. Purchase government bonds for €2,000,000.
5. Buy units in investment funds for €2,000,000.
6. Set up a company in Spain that will serve the public interest and will be approved by the regional authorities. In contrast to the options above, this one does not have the established minimum investment.

To obtain Spanish citizenship, investors need to take language proficiency tests and an exam in Spanish culture and law. However, they are not obliged to live in Spain permanently and can rent out the investment property. Similar to Greece’s program, you can return the investment money after 5 years of living in Spain.

The country is famous for its architectural monuments, delicious cuisine, beautiful beaches, culture, and history. All of this makes Spain one of the most popular destinations for expats.

The cost of living in Spain is even a bit lower than in Greece. A single person spends around €631 per month without rent, while a family of four needs about €2,350.

Spain was also ranked second-best for retirement among 37 European countries. There are a lot of long-livers in the country. Senior citizens over 65 are provided with discounts on buses, trains, restaurants, and in some four-star hotels in off-peak season. They can also visit national museums for free.

There is even the “University for the Elderly”, where people over 50 can take short courses and seminars in literature, art, economics, languages, and philosophy.

How to obtain EU citizenship by investment as a South African citizen

Despite the chosen country, investors have to meet some general requirements to apply for EU citizenship. They must be over 18 years of age, have no criminal record, be financially independent and be able to prove the legality of their income. Also, the applicant can not be under sanctions and needs to have medical insurance.

There is a general outline of how to obtain an EU passport — even though the details of each program differ.

Step 1. Pass a preliminary Due Diligence check.

Due Diligence is a provisional investigation to ensure you are eligible to apply for European citizenship or residency by investment. It will help identify possible issues, find solutions, and raise your chances of obtaining a visa or passport. The procedure is confidential, and you will only need a passport.

Step 2. Choose an investment programme.

Select the most suitable investment condition according to your goals and budget. EU countries offer options like purchasing real estate, government bonds, or securities, contributing to a fund, and investing in a business. The lawyers at Immigrant Invest can help you pick the best programme and provide all the details.

Step 3. Fulfill the programme conditions.

If you decide to buy property, Immigrant Invest’s real estate professionals can help you to do it remotely. Some procedures require visiting the country — for example, opening a bank account or getting an individual taxpayer number.

At this stage, you need to sign the contract, close the estate deal, and receive the certificate of ownership.

Step 4. Prepare the documents.

Lawyers at Immigrant Invest help you collect, translate and notarise the required documents. After you submit the application, it will be processed for several months.

Step 5. Get a residence permit.

The residence permit card is usually issued in 1–2 months after your application is approved. You will need to visit the country to submit your fingerprints and obtain the residence card in person.

Depending on the programme’s conditions, the residence permit has to be renewed every 2–5 years. To get a new resident permit card, you will need to collect the documents again.

Step 6. Live in the country for several years.

Before applying for citizenship, you must live in the country for the required years. If you choose one of the programmes on the list, the timeframe will vary from 1 to 10 years of residence.

Notice that countries have different rules for the time spent in the country during the year. For example, to keep the residence status in Cyprus, you must visit the country at least once every two years. In Portugal, you must spend seven days a year in the country.

Step 7. Apply for citizenship by naturalisation.

You can apply for citizenship by naturalisation when you have lived in the country for several years. In countries like Greece and Spain, you need to pass exams on the country’s language, history and cultural traditions.

Is there any other way to immigrate to the EU from South Africa?

Apart from investing, there are other ways for foreigners to obtain an EU passport, such as descent, marriage, and ordinary naturalisation.

Citizenship by descent is granted to descendants in the direct line. In most cases, if a person’s parents or grandparents are or were citizens of an EU country, they can also obtain a passport of that state. Most EU countries issue passports for grandchildren and sometimes even great-grandchildren of the country’s nationals.

The requirements for the application depend on the EU state. In some countries, you can only provide documents to confirm the relationship with a relative. In others, you will need to pass a language exam.

Citizenship by marriage. Marrying an EU citizen can make you eligible to apply for an EU passport. To prevent fictitious marriages, some countries introduced special requirements.

For example, in Malta, you may apply for citizenship only after 5 years of marriage. In Germany, the couple has to live together for 3 years before the non-EU spouse can be granted an EU passport.

Citizenship by naturalisation is the most common way to obtain citizenship of an EU country for foreign nationals. It is usually granted if a person first received a residence permit, then a permanent residency, and lived in the country for a certain number of years.

Compared to residency and citizenship programs by investment, the ordinary naturalisation takes longer — on average, 6 to 12 years.

For example, in Malta, you can get citizenship for exceptional services by direct investment after 1 or 3 years of residence. You can apply only after 7 years of permanent residence by ordinary naturalisation.

Aside from legally residing in the country for a set time, some countries require applicants to pass an exam on the national language, culture, history, and laws, or to provide a language proficiency certificate.

Key takeaways

1. Some EU countries offer a simplified naturalisation path to South Africans willing to invest in the country’s economy.
2. Countries usually provide four to eight investment options, including purchasing real estate, shares in a company, units in investment funds, or government bonds.
3. The minimum investment amount in the top five citizenship and residence programs varies from €250,000 to €690,000.
4. Due to the programmes on the list, you can obtain EU citizenship in a shorter period of time, as the ordinary naturalisation usually takes longer. For example, obtaining a Malta passport by naturalisation requires at least 7 years of residency. In contrast, Malta citizenship by naturalisation for exceptional services by direct investment can be granted after 1 or 3 years.
5. Each programme has its own requirements. For example, to obtain citizenship of Spain, you must renounce your South African passport. In Greece and Spain, you need to take an exam in language and culture.
6. Immigrant Invest can help South Africans obtain EU citizenship and residence permits by investment. Our lawyers will guide you through the Due Diligence process. They will also assist in preparing documents and finding the most suitable property for your goals.