Premium relocation jurisdictions in 2022

Table of comparison of Healy Consultants’ preferred premium relocation jurisdictions for business owners planning to relocate their businesses to grow their services and improve quality of their personal lives.

Premium relocation jurisdictions Italy Monaco Andorra Singapore Dubai Malta St. Lucia
Our ranking in order of preference 1 2 3 4 5 6 7
Summary at a glance
Total year 1 engagement set up costs in €? 14,150 22,700 24,850 US$12,253 US$21,980 11,675 US$22,950
Total year 2 costs (incl. audit and tax) in €? 6,250 2,600 5,600 US$8,444 US$9,850 9,400 US$8,500
How long to secure residence visa for you? 2 months 4 months 5 months 2 months 3 months 4 months 3 months
Investment required to secure a visa? €500,000-€2,000,000 €500,000 US$400,000 US$50,000 EAD 1m €350,000 US$300,000
Corporate tax rate on global income? Flat €100,000 0% 10% 0% 0% 0%-5% 0%
Personal tax on global income? (min/max) Flat €100,000 0% 0% 0% 0% 15% 0%
Monthly rent of a 3-bedroom apartment? €820 €4,500 €470 S$3,200 EAD7.6k €600 US$1,300
Monthly rent of a 1000 sq foot office? €6,500 €30,000 €7,000 S$12,000 US$6,000 €10,000 US$2,000
Monthly rental of a Bentley car? €30,600 €62,000 N/A S$21,000 US$33,600 15,000 US$5,000
Cost of living index 76.45 unrated unrated 83.7 70.1 65.5 Unrated
Exciting annual events in the city? Read more Read more Read more Read more Read more Read more Read more
How secure a residence visa?
Register a local company? Yes Yes Yes Yes Yes Yes Yes
Place funds in the corporate bank account? Yes Yes Yes Yes Yes Yes No
Letter of intent to rent an apartment & office Yes Yes Yes Yes Yes Yes Yes
Submit a residence visa application to? Here Here Here Here Here Here Here
Cost to buy a 2000 sq foot house? €2m €5m €2m S$2m US$1-1.5m €1m £300,000
Investment program to get visas? Investor Visa Carte de sejour Active Residency Entrepass Residence Visa Permanent Residency Yes
Minimum investment for investor program? €500,000-€2,000,000 €500,000 €400,000 US$50,000 EAD1m €350,000 US$300,000
Types of investment allowed? Capital+bonds Capital Public debt + real estate Capital Real Estate Real Estate Real estate and bond
Can apply for work permit? Yes Yes Yes Yes Yes Yes Yes
Minimum paid-up capital for work permit? €500,000 €500,000 €400,000 US$50,000 Sponsor €1,160 No
Part of Schengen? Yes Yes No No No Yes No
Dependent visas for the family allowed? Yes Yes Yes Yes Yes Yes Yes
Expat living costs rating? Moderate to High Very high Moderate Very high Very high Moderate Unrated
Residence visas for how many years? 2 years 1 year 1 year 2 years 1 year 1 year 2 years
Schengen travel country? Yes Yes No No No Yes No
Can bring your own car? Yes Yes Yes Yes Yes Yes Yes
Company incorporation requirements
How long to set the company up? 1 month 1 month 1 month 1 week 2 months 2.5 months 3 weeks
Minimum number of shareholders? 1 2 2 1 1 2 1
National shareholder required? No No No No No No No
Individual shareholders allowed? Yes Yes Yes Yes Yes Yes Yes
Minimum number of directors? 1 1 1 1 2 1 1
Resident director required? No No No Yes No No No
Minimum paid up share capital €1 €15,000 €3,000 US$1 US$1 €1,160 None
Fast turnkey solution available Yes Yes Yes Yes Yes Yes Yes
Public register of shareholders & directors? Yes Yes No Yes Yes Yes No
Tax and accounting considerations
Corporate tax payable on global income? Flat €100,000 33.3% 10% 0% 0% 0-10% 0%
Corporate tax payable on local income? 24% 0% 10% 17% 0% 0-10% 30%
Withholding tax on dividends paid overseas? 26% None None None None None None
Annual financial statements required? Yes Yes Yes Yes Yes Yes Yes
Independent annual audit required? No No No No Yes No No
Local GST or VAT? 22% 20% 5% 7% 0% 18% No
Access to how many double tax treaties? 100 32 8 76 66 70 None
Personal tax payable on a local salary? 23-43% 0% 10% 2-22% 0% 15% Up to 30%
Personal tax payable on overseas income? Flat €100,000 0% 10% 0% 0% 15% 0%
EU VAT member? Yes Yes No No No Yes Multicurrency
Corporate bank account considerations
Healy Consultants’ preferred bank? Unicredit Societe Generale Andbank OCBC Emirates NBD HSBC Malta Bank of Saint Lucia
How long to open bank account? 4 weeks 4 weeks 4 weeks 6 weeks 4 weeks 4 weeks 6 weeks
Do I travel to open the bank account? No Yes No No Yes No Yes
Minimum bank deposit (USD)? 5,000 €50,000 €100,000 US$500 US$50,000 €50,000 US$20,000
Multi-currency corporate bank account? Yes Yes No Yes Yes Yes Yes
Multi-currency corporate visa debit cards? Yes Yes No Yes Yes Yes Yes
Corporate ATM card available? Yes No No Yes No Yes Yes
Bank rating by World Economic Forum? 93 47 None 4 2 35 Unrated
Ease of getting credit by WEF? 139 17 None 4 23 16 Unrated
Euro currency used by this country? Yes Yes Yes No No Yes No
Quality of life
Size of city square miles Florence (39.54) 0.78 180 278 1,588 122 238
Population per square mile 520 48,460 465 19,910 1,500 4,077 780
Can own a house there? Yes No Yes Yes Yes Yes Yes
Quality schools for kids? High Yes Yes Yes Yes Yes Yes
How many restaurants? >500 >50 >200 >500 >500 >500 >70
How many bars? >300 >40 >40 >380 >270 >150 >100
Casinos? >300 5 N/A 1 1 4 >30
How long to drive to airport? 10km 30.5 km 27 km 28 km 14 km 19 km 15 min
How long to fly to Paris? 1h 50 1h 30m 0h 38m 14 h 7h 25m 2h 25m +10 hours
Average cost of a restaurant meal for 2 people? €50 €110 €30 S$60 €50 €50 US$45
Cost of a pint of Guinness? €4 €26 €2.5 S$9 €10 €2 US$4
How many city gardens? >4 7 30 50 13 10 3
What time do shops close? 7 pm 7 pm 9 pm 10 pm 11 pm 7:30 pm 8 pm
How many big shopping centres? 7 1 7 112 72 >20 3
Quality of beaches? High Medium N/A Low High High High
Nearest city? Florence Nice Perpignan Johor Bahru Sharjah Modica Castries
How far to drive for skiing? 1h48 99 km 6 km 16 km
(indoor)
14 km
(indoor)
288 km Long
Exciting annual events in the city? Read more Read more Read more Read more Read more Read more Yes
Nearest hospital to drive to? Read more 2 km 1 km 3 km 10 km 14 km St. Jude
Helicopter transport available? Yes Yes No Yes Yes Yes Yes
Sea sports available? Yes Yes No Yes Yes Yes Yes
Country draft sales invoice View invoice PDF View invoice PDF View invoice PDF View invoice PDF View invoice PDF View invoice PDF Request a proposal