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Earn Rs 5-10 lakh/month? You may get PR in Italy, Greece, Grenada
According to Andrew Boiko, founder of global immigration firm Garant.in, options for the 'comfortably wealthy' include France, Italy, Greece and Grenada.
'The choice is obvious. You can buy an apartment in Gurugram, but that won't allow you to live in Italy, for example. But if you buy an apartment of the same cost in Italy, you can live there or anywhere else in Europe along with easy access to so many other countries,' Boiko told news agency PTI.
Garant.in recently opened its India office in New Delhi and says it received over 4,000 requests from prospective Indian clients within the first three months. The consultancy told Business Standard last week that it plans to expand to Mumbai, Hyderabad, Bengaluru and Chennai by the end of 2025.
Why Indians are looking abroad
'Indians are very pragmatic. They don't want to pay a donation for nothing. They want the money back. They also want a return on their investment,' Boiko told PTI.
This is where financial independence and investment-based residency programmes appeal to Indians planning to relocate.
Earlier he told Business Standard that over the past few years, they have seen a rise in inquiries from Indian high-net-worth individuals seeking legal and structured pathways to global mobility. "This trend has intensified recently due to new US immigration policies under Donald Trump and an increase in deportation cases,' said Boiko.
Many of these individuals are now looking at investment-based citizenship or residency options that allow visa-free travel, family inclusion and more flexible business opportunities.
What is a financial independence visa?
Under this programme, a person needs to show a steady income beyond a certain threshold to be granted residency. This can then be converted to citizenship after a few years, depending on the country's laws.
In Europe and the Caribbean, most countries offer long-term residency or even citizenship if certain investment or income thresholds are met. In the Middle East, long-term residency (up to 10 years) is more common, usually in exchange for a fixed donation or investment.
According to Boiko, those applying under this route must typically demonstrate a stable income of €5,000 to €10,000 per month (roughly Rs 5–10 lakh).
Why Grenada is emerging as a top option
Grenada, a small island nation in the Caribbean, is considered one of the safest places in the world and offers visa-free travel to countries across Europe, the UK, Hong Kong, Russia, Singapore and the UAE. Grenadian citizenship also provides easy access to the US.
'In the Caribbean, even the most affordable options like Grenada require a minimum investment of $235,000 through a donation to the National Transformation Fund,' Boiko said.
Alternatively, a real estate investment of at least $270,000 in a government-approved project also qualifies.
'These are premium offerings for affluent individuals. The benefits go beyond residency—they offer tax advantages, access to healthcare and education, and often a backup plan in an increasingly uncertain world,' he told Business Standard.
However, Rahim Lakhani, CEO of TLG Global, told Business Standard, "These programmes lack Schengen benefits and are facing growing scrutiny. EU residency options like Latvia's offer more stability than non-EU citizenship programmes."
He added that the EU has pressured Caribbean nations to raise investment thresholds and tighten due diligence to prevent misuse.
Golden visas and what they offer
Boiko explained that golden visas are generally quick ways to obtain residency, which can eventually lead to citizenship in certain countries.
'Some of the countries, like European golden visas, allow you to get citizenship in five to ten years,' he said. 'On the other hand, in the Middle East, you are unable to get citizenship in most cases. You can only have residency, but that can be for up to ten years.'
While residency allows one to live, work or study in a country with family, only citizenship unlocks full benefits. However, European golden visas often provide visa-free access to the rest of Europe and some parts of Latin America and North America.
It also makes it easier to secure visas for the UK, Australia or the US, Boiko added.
He said countries benefit too. Their businesses gain from foreign investment in property, companies, banks or bonds. 'It's like mutual beneficial cooperation,' he said.
Examples of available programmes include:
Portugal: minimum investment in innovation or cultural funds, moving away from real estate
Greece: €250,000 investment in real estate
Spain: €500,000 investment in property
Other countries offering residency options are Italy, France, Hungary, and Latvia, with varying qualifying routes such as investment funds, business creation, or real estate purchase.
Vinay Kumar, Head of Estate and Succession Planning at Client Associates, told Business Standard, "For instance, Greece offers residency permits for real estate investments starting at €250,000, and Portugal provides residency through investments in funds or job creation initiatives. These programmes grant residency rights, which can lead to citizenship over time, subject to meeting specific criteria."
Some countries offer a 'golden passport'
Several countries, including Malta and those in the Caribbean, also offer citizenship in a short span of time, sometimes as quickly as six to eight months. However, in April the European Court of Justice ruled that Malta's citizenship-by-investment scheme was in breach of EU law.
But Boiko cautioned that the terms 'golden visa' and 'golden passport' can vary across countries. In Portugal, for example, applicants may need to establish or invest in a company and create jobs, while in the UAE, visa eligibility can be tied to employment and salary levels.
Which countries and routes are most popular?
Boiko said that income-based residency remains the top choice for Indians. If someone has a steady income of more than €5,000 a month for six months to a year, they can qualify for residency in several countries.
In France and Spain, permanent residency is granted after five years and citizenship after six or seven years.
Italy offers a more flexible option. Its golden visa programme allows investors to redeem their investment after two years.
'When you invest in Italy, you get a residency within two to three months. Permanent residency follows after five years,' Boiko said. 'After ten years, you can get citizenship—and the Italian passport is one of the most powerful in the world.'
He added that properties in Italy can also appreciate in value. 'If you want, you can sell your property in Italy with good returns after two years and then buy one in Gurugram,' he told PTI.
Countries, for their part, conduct thorough due diligence before granting residency or citizenship. Some even require applicants to pass language tests. Boiko said this isn't just about fees, but about attracting people who will actively contribute to the economy.
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