Kestrel Private · A structured framework

The Kestrel Residence Index.

The active residence-by-investment programmes we advise on, scored across six criteria that matter to private families. Every score is computed from a sourced programme attribute and shown with its basis — so you can see the workings, and re-weigh them for your own priorities.

Verified to official primary sources · last reviewed June 2026

Methodology

Six criteria, transparent weights.

Each programme is scored 0–10 on each criterion from its real, published attribute, then combined using the weights below (they sum to 100%). The weights reflect what most private clients prioritise — they are a lens, not a law. Change the lens and the order changes; that is the point of showing them.

Mobility & access20%

What the residence unlocks: full Schengen scores highest, then visa-free Schengen short stay, then EU membership with Schengen pending, then none.

Tax efficiency18%

Counts the favourable features in the programme’s stated tax position — no capital-gains, inheritance/estate or wealth tax, and non-dom / remittance / territorial regimes.

Capital efficiency18%

Lower realistic entry cost (EUR-equivalent) scores higher, on a fixed €50,000-per-point scale from a €250,000 baseline.

Speed to status16%

The realistic time from a complete file to residence in hand, per our published timeline estimate.

Stay flexibility16%

The physical-presence obligation: no minimum stay scores highest; periodic-visit and relocation requirements score lower.

Permanence12%

A permanent grant scores higher than a renewable permit; a direct onward route to citizenship scores highest.

The ranking

Scored, sourced and ranked.

1
Cyprus Permanent Residence
Cyprus
86
Index / 100
Mobility & access7/10

EU member; Schengen accession in progress

Tax efficiency9/10

No inheritance, estate or wealth tax; 17-year non-dom regime on dividends, interest and rents; tax residency via the 60-day rule. PR is a practical enabler of Cyprus non-dom status.

Capital efficiency9/10

From €300,000 · ≈ €300,000 EUR-equivalent entry

Speed to status9/10

Fast-track approval typically ~2–3 months once the file is complete; ~4–7 months end to end to card in hand.

Stay flexibility10/10

Visit once every two years to maintain status — no minimum stay.

Permanence8/10

Permanent residence grant

Source: Cyprus Civil Registry & Migration Department (gov.cy), Regulation 6(2) under Aliens & Immigration Law Cap. 105; 2 May 2023 revision raised secured income to €50,000. Verified 2026-06.

Full programme
2
Greece Golden Visa
Greece
81
Index / 100
Mobility & access10/10

Full Schengen member — visa-free short-stay across the zone (90 in 180)

Tax efficiency7/10

Optional non-dom regime (separate from the visa): a flat €100,000/yr on worldwide non-Greek income for up to 15 years (+€20,000 per family member). It requires a ≥€500,000 Greek investment — distinct from the standard €400,000 visa property minimum — and prior non-residence. The Golden Visa itself triggers no tax residency.

Capital efficiency7/10

From €400,000 · ≈ €400,000 EUR-equivalent entry

Speed to status7/10

Approximately 4–9 months end to end; biometrics within 6 months of filing.

Stay flexibility10/10

No minimum stay to obtain or renew the five-year permit.

Permanence7/10

Renewable residence permit

Source: Hellenic Ministry of Migration & Asylum (migration.gov.gr); Law 5038/2023 Arts. 99-103 as amended by Law 5100/2024 Art. 64; non-dom under Law 4172/2013 Art. 5A (AADE). Tiering verified 2026-06.

Full programme
3
Mauritius Residence by Property
Mauritius
78
Index / 100
Mobility & access4/10

No Schengen or EU mobility from this residence

Tax efficiency10/10

No capital-gains, inheritance, estate or wealth tax; foreign income taxed only on remittance; personal income tax to a 20% top rate. Residence by property is a strong tax-residency base for those who meet the day-count tests.

Capital efficiency8/10

From USD 375,000 · ≈ €345,000 EUR-equivalent entry

Speed to status8/10

Approximately 3–6 months for EDB approval after purchase.

Stay flexibility10/10

No minimum stay — residence is held for as long as you own the qualifying property.

Permanence7/10

Renewable residence permit

Source: Economic Development Board Mauritius (edbmauritius.org) IRS/RES/PDS guidelines; EDB Act 2017 + PDS Regulations 2015; Finance Act 2025 duty change (Laws of Mauritius). Verified 2026-06.

Full programme
4
Panama Qualified Investor
Panama
78
Index / 100
Mobility & access4/10

No Schengen or EU mobility from this residence

Tax efficiency9/10

Territorial tax — only Panama-source income is taxed; foreign income, pensions and offshore returns are exempt. No wealth, inheritance, gift or estate tax. Tax residency requires genuine presence/ties.

Capital efficiency9/10

From USD 300,000 · ≈ €276,000 EUR-equivalent entry

Speed to status9/10

Permanent residence in roughly 30–90 days.

Stay flexibility9/10

One visit every two years maintains permanent residence.

Permanence7/10

Renewable residence permit

Source: Panama Gaceta Oficial (gacetaoficial.gob.pa) + Servicio Nacional de Migracion (migracion.gob.pa); Executive Decrees 722/2020, 109/2022, 193/2024 + Law 493/2025. Verified 2026-06.

Full programme
5
Malta Permanent Residence
Malta
74
Index / 100
Mobility & access8/10

Visa-free Schengen short stay (90 in 180 days)

Tax efficiency7/10

Non-domiciled residents are taxed on a remittance basis (foreign income taxed only if remitted; foreign capital gains untaxed even if remitted). Tax residency is a separate status from MPRP.

Capital efficiency5/10

From €375,000 (≈ €500,000 realistic all-in) · ≈ €500,000 EUR-equivalent entry

Speed to status7/10

Approximately 4–6 months to approval; a one-year renewable card issues shortly after filing.

Stay flexibility10/10

No minimum stay to obtain or maintain status.

Permanence8/10

Permanent residence grant

Source: Residency Malta Agency (residencymalta.gov.mt); Laws of Malta S.L. 217.26 as amended by LN 146 of 2025. Verified 2026-06.

Full programme
6
UAE Golden Visa
United Arab Emirates
63
Index / 100
Mobility & access4/10

No Schengen or EU mobility from this residence

Tax efficiency6/10

No personal income, capital-gains, net-worth or withholding tax on individuals. A Tax Residency Certificate unlocks 130+ double-tax treaties — subject to meeting UAE day-count tests and exiting the home tax net.

Capital efficiency5/10

From AED 2,000,000 · ≈ €500,000 EUR-equivalent entry

Speed to status10/10

Approximately 2–4 weeks; Emirates ID within ~10 business days of biometrics.

Stay flexibility7/10

No minimum-stay requirement; the Golden Visa is not lost by living abroad.

Permanence7/10

Renewable residence permit

Source: UAE Federal ICP (icp.gov.ae) Golden Residency + UAE Government Portal (u.ae); Federal Decree-Law 29/2021 + Cabinet Resolution 65/2022. AED 2M confirmed through 2026 reforms.

Full programme

How to read this

This is a structured comparison, not an objective verdict. The “best” programme is the one that fits your objectives, nationality and tax position — a family set on EU mobility, one optimising for zero capital-gains tax, and one prioritising speed will each rank these differently. The Index makes the trade-offs explicit; a short confidential assessment turns them into a recommendation for you.

Take the private assessment

Cite & download

Cite as: The Kestrel Residence Index, Kestrel Private (2026), kestrelprivate.com/residence-index. The full scored dataset is available as CSV.

Download the Index (CSV)

Scope: active residence-by-investment programmes with a property route. Citizenship-by-investment routes, closed programmes and non-property routes are out of scope here. All figures are indicative and verified to official primary sources as at the date shown; the issuing authority’s current published text is always authoritative. Kestrel Private is an advisory firm, not a law firm.