top of page

 Based on data collected until 15 September 2021


The rapid growth of private wealth across the globe has led to a significant increase in the number of affluent people seeking greater global mobility and fewer travel obstacles. Investment migration has become increasingly popular — acquiring a second residence is no longer considered a luxury, but a wise investment in better lifestyle opportunities and a more favorable business environment. Today, there is a range of residence-by-investment programs around the world. Each program has advantages and disadvantages, sometimes making it difficult to choose among them. To close this gap, Deep Knowledge Analytics (DKA) and Henley & Partners are pleased to present the Best Residence-by-Investment Cities for Business Index. 

This collaborative effort between DKA, a DeepTech focused agency that produces advanced analytics using sophisticated technology to deliver insightful market intelligence and pragmatic forecasting, and Henley & Partners, the global leader in residence and citizenship planning, draws on a comprehensive dataset that evaluates 25 cities according to 10 complex parameters, including Henley & Partners’ 2021 Global Residence Program Index, published in Investment Migration Programs 2021, and DKA’s Covid-19 City Safety Ranking.

​Accompanied by insightful expert commentaries that feature future and global insights, DKA and Henley & Partners are delighted to share this invaluable resource, which we believe will be of great interest to all those seeking longevity for their families and considering investment migration as an option for accessing new opportunities, be they private clients and their advisors, industry professionals, or policy makers wishing to manage investment migration programs in order to achieve fiscal autonomy and economic growth.








Data Points

Best Residence-by-Investment Cities for Business Index


Top-10 Cities Profiles

London takes first place in the Best Residence-by-Investment Cities for Business Index. The UK has long been a significant world power, both economically and politically. London is the financial capital of the world, offering an international business environment. The city is ranked in the top 10 in most parameters. It has developed infrastructure, a high quality of life, and access to excellent educational opportunities. It is also one of the most attractive places for real estate investment due to the high potential of the local market.

To view additional interactive graphics, please

Global Insights

Top Residence-by-Investment Cities in Each Parameter

In this section we take a closer look at the top-performing residence-by-investment cities when it comes to Covid safety, lifestyle, tax, education, real estate, healthcare, security, infrastructure, and stability. 

The interactive chart will be of significant interest to anyone considering residence-by-investment programs as a mechanism for business relocation or expansion, as the data provides valuable insights into the top 10 performing cities in each parameter compared to the relevant residence-by-investment program score on the Global Residence Program Index published in Investment Migration Programs 2021.


Joint-first in terms of Austria’s and Portugal’s residence-by-investment offerings are Vienna and Lisbon, which both also score highly in security and stability — increasingly important drivers for investment migration and business relocation. Both European cities are popular choices for multinational firms to base their headquarters — Vienna’s appeal lies in its highly skilled labor force and excellent productivity levels, while Lisbon has a flourishing tech sector thanks to Portugal’s business-friendly policies and the top talent emerging from its universities. Rome and Zurich are joint-2nd thanks to Italy and Switzerland’s excellent residence programs, while Athens is 3rd, with the Greece Golden Visa Program an extremely popular option.  


The Best Residence-by-Investment Cities for Business Index showcases 25 capitals and major cities of countries that host the world’s most important residence-by-investment programs. The key takeout from this fascinating research is that there are abundant opportunities to strengthen and grow your business through investment migration programs. Each of the 25 cities is proactively welcoming international entrepreneurs, company owners and investors, and while some are clearly leading the pack, each has its strengths, and all are vying for foreign direct investment.

About Us

H&P LOGO_edited.png
DKA logo transparent.png

Deep Knowledge Analytics is a DeepTech focused agency producing advanced analytics on DeepTech and frontier-technology industries using sophisticated multi-dimensional frameworks and algorithmic methods that combine hundreds of specially-designed and specifically-weighted metrics and parameters to deliver insightful market intelligence, pragmatic forecasting and tangible industry benchmarking.


It is an analytical subsidiary of Deep Knowledge Group, an international consortium of commercial and non-profit organizations focused on the synergetic convergence of DeepTech and Frontier Technologies (AI, Longevity, MedTech, FinTech, GovTech), applying progressive data-driven Invest-Tech solutions with a long-term strategic focus on AI in Healthcare, Longevity and Precision Health, and aiming to achieve positive impact through the support of progressive technologies for the benefit of humanity via scientific research, investment, entrepreneurship, analytics and philanthropy.

Henley & Partners is the global leader in residence and citizenship planning. Each year, hundreds of wealthy individuals and their advisors rely on our expertise and experience in this area. Our highly qualified professionals work together as one team in over 30 offices worldwide.

The concept of residence and citizenship planning was created by Henley & Partners in the 1990s. As globalization has expanded, residence and citizenship have become topics of significant interest among the increasing number of internationally mobile entrepreneurs and investors whom we proudly serve every day.

Trusted by governments, the firm also runs a leading government advisory practice that has raised more than USD 10 billion in foreign direct investment. We have been involved in strategic consulting and the design, set-up, and operation of the world’s most successful residence and citizenship programs.


The Best Residence-by-Investment Cities for Business Index features 25 capitals and other major cities of countries that host the world’s most important residence-by-investment programs, which are ranked in the Global Residence Program Index (published in Investment Migration Programs 2021).

The framework comprises 10 top-level categories representing the factors most important to high- and ultra-high-net worth investors and business owners who are considering investing in residence-by-investment programs.

1) ​RBI Ranking — the total score for the relevant country’s residence-by-investment program according to Henley & Partners’ Global Residence Program Index

2) Covid Safety — Covid-19 City Safety Ranking by Deep Knowledge Analytics

3) Lifestyle — quality of life, environment, cultural interaction, cost of living, climate risk, and air quality

4) Tax — income tax, corporate tax, estate and inheritance tax, and personal taxes on income and profit 

5) Education — access to top-tier international schools, top 1,000 universities globally, and research and development output

6) Real estate — house price index, average price per m2, size of real estate market, prime property sales

7) Healthcare — health security, private healthcare system, access to private hospitals and insurance companies, public and private healthcare expenditure per capita 

8) Security — governance, risk quality, cybersecurity

9) Infrastructure — e-government, internet connectivity, telecommunication infrastructure, accessibility, traffic, quality of infrastructure 

10) Stability — democracy levels, corruption levels, ease of doing business, economic resilience, e-participation

​Each of the ten categories above consists of a matrix of between one and ten quantitative and qualitative sub-parameters that relate to the specific topic, analytical focus, and end-point of their parent category. Quantitative parameters are numeric and are obtained from a variety of reputable, publicly available sources of data. Qualitative parameters are descriptive, non-numeric, and cities are assigned values ranging from 1 to 0, representing its performance in a specific parameter.

The index utilizes a combination of publicly available databases (including but not limited to indexes and region statistics), as well as manually curated and researched quantitative data obtained using search engines, media, international organizations, and governmental reports. ​​By adopting this approach, the present analysis attempts to find an optimal balance between using maximally transparent and reliable sources of data and including data that are only obtainable from expert consultation.

​Every category calculation is constructed in such a way that a higher value is associated with more favorable conditions:

1. Initially, an array of data and information was formed to assess the level of efficiency of the city. During the formation of the integrated score, indicators were selected by experts and distributed among the subsystems (categories and groups of indicators) to form an assessment of the effectiveness of the city in performing a specific function.

2. The next step was to determine the areas of influence of indicators on the level of efficiency of the city and bring them to a single comparable form, by dividing indicators into stimulators and de-stimulators on the principle that the relationship between the integrated assessment and the indicator-stimulator was direct, and with the indicator-destimulator this relationship was inverse. 

3. The values of each indicator are normalized between 0 and 100 on the basis of the following equations: 
For indicators-stimulators:  x = (x – Min(x))/(Max(x) – Min(x))*100
For indicators-destimulators: x = (Max(x)-x)/(Max(x)-Min(x))*100,
where Min(x) and Max(x) are the lowest and highest actual values, respectively, for any given indicator. 

4. Then, the category values are calculated by summing up equally weighted indicator scores: 
category score = ∑ equally weighted individual indicator parameters

5. The final cumulative ranking scores are obtained by summing 10 categories for each city.

List of Sources

2. The Mori Memorial Foundation
3. Numbeo
4. Germanwatch
5. IQAir
7. The International Baccalaureate
8. World University Rankings
9. Mansion Global
10. Global Property Guide
11. The Nuclear Threat Initiative
12. Statista
13. The World Bank Group
14. FM Global
15. The International Telecommunication Union
16. United Nations
17. IMD
18. TomTom International BV
19. The Economist Intelligence Unit Limited
20. Transparency International


All data are used in the represented materials on a lawful basis to carry out a computational analysis for a non-commercial research according to the article 29A of the Copyright, Designs and Patents Act 1988 with amendments.

bottom of page