Europe is home to millions of British expats who have packed up and relocated. While, for many of them, this has meant spending a lot of money – there are some destinations which will actually hand out cash to new residents.
This is thanks to a number of schemes in place which aim to attract new talent or grow the workforce in specific countries.
According to research from insurance company William Russel, there are six main European hotspots that are running such schemes.
Which six countries in Europe will pay people to move there?
Spain is a hugely popular country for British expats, however, they often tend to flock together in specific communities.
Meanwhile, many of Spain’s smaller towns and villages have lost residents due to the growth of its urban metropolises.
In a bid to encourage people to move back to the traditional pueblos (villages), and give a little bit of love to the homes and businesses which have fallen into disrepair, Spain has launched a number of schemes with local townships.
In Rubia, in the mountains of Galicia, the local township will supplement people’s income with an extra €100(approximately £85) to €150(approximately £128) per month for moving there.
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The Croatian town of Legrad was one the second most populated village in the country, however, in the last century, it has reported a huge decline in residents.
A new scheme aims to lure in newcomers by selling off homes for as little as 1 Kuna (approximately 11p).
Most of these homes will require a lot of work to renovate to their former glory.
Luckily, the state is willing to chip in more than £2,900 towards the revamp.
However, there is a catch. New citizens must be financially stable, under the age of 40 and willing to stay for more than 15 years.
Republic of Ireland
For those who don’t want to jump ship too far from home, the Republic of Ireland could be a great option.
The Emerald Isle is looking for entrepreneurs to come and start new businesses.
In a bid to lure in new talent, the Republic of Ireland has started its own investment fund offering start-up capital for new enterprises.
The scheme, Enterprise Ireland, hopes to support job creation and export revenue from the Republic of Ireland.
Enterprise Ireland is open to citizens of all countries, but their company must be registered in the Republic of Ireland.
Successful applicants will be required to prove their company is capable of creating at least 10 jobs and €1 million in sales over the first three years.
Italy is another nation that is welcoming newcomers who are willing to renovate some of its homes.
In recent years the country has sold off homes for as little as €1, though admittedly they will take quite a while to restore.
Though it is not a direct cash sum for moving to the area, it does offer a great savings on property.
To meet the criteria, the new homeowners are expected to renovate their property within a reasonable timeframe – usually about three years.
Should they fail to meet the timeframe they could end up being charged an annual fee.
Switzerland is offering new residents approximately £18,400 in return for moving to the remote village of Albinen.
Albinen council is offering adults the cash incentive, while children could also be in line for a windfall of approximately £7,338.
However, there are a few stipulations to the financial rewards.
Adults must be under the age of 45 in order to qualify.
New residents must also commit to staying for a minimum of 10 years, and only Swiss residents get to receive the bonus.
That means you must have lived in Switzerland either 12 years in total (or five years with a type B permit).
Alternatively, people can qualify if they have married a Swiss person and completed their citizen application before the end of the 10 years.