Suppose you are planning to obtain a residence permit to purchase real estate and choose a country for immigration with the whole family with an investment approach. In that case, this article will be helpful for you.
The CitiZen Global agents researched and found that hundreds of people are interested in combining an application for a residence permit and buying real estate. The solution may be the best option for those who want to do business, study, or work abroad with gradual integration into a foreign society. Moreover, having your own home, in any case, dramatically simplifies the naturalization path for foreigners and, in many countries, is a crucial requirement, along with the availability of the necessary security.
And with the right choice of jurisdiction, you can get various preferences in the form of tax and government incentives for the development of the company, affordable business lending, etc.
Residency by investment in real estate — how did the program appear?
RCBI, known as citizenship or residency-by-investment, was fully implemented in 1984 and gained the attention of wealthy people almost immediately. In addition to a relatively short path to the desired lifestyle, such programs provide the following:
- financial freedom;
- global mobility;
- contingency planning;
- protection of assets (capital/property);
- increased return on investment, including in real estate;
- enhanced business and learning opportunities.
Countries that allow you to obtain a residence permit by buying real estate in this way stimulate their own economy and attract foreign capital. Investors receive a kind of reward in the form of a residence permit for investing in real estate, foreign business, or government funds (conditions differ).
However, investment in real estate overseas has become the preferred route to obtaining a residence permit abroad. Transparency International and Global Witness states that the EU welcomes more than 6,000 new citizens and close to 100,000 new residents. Therefore, today we will consider countries in which you can obtain a residence permit for investment in housing as a foreign citizen.
Countries Offering Residency by Investment
The European residence permit is preferable for many foreigners. At the moment, you can apply for a permanent residency by investing in real estate in the following European countries:
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Portugal
A rather attractive scheme, the Golden Visa Program, gives international people the right to reside and work in the country for investment in local real estate. However, foreign investors cannot choose any object — as part of acquiring a residence permit in Portugal. You must direct funds to real estate objects of specific regions. The minimum contribution for applicants for a residence permit for investment depends on the territory.
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Greece
Greece provides its inhabitants and residents with various comforting advantages as an EU member state, including high levels of safety and security, good educational options, comprehensive healthcare alternatives, and a trustworthy rule of law. The greece golden visa allows non-EU applicants to apply for residency in Greece through an investment of 250,000 EUR in local real estate. The applicant can apply for Greek citizenship after seven years of permanent residence.
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Cyprus
In this republic, you can immediately get a permanent residence with an investment amount of 250,000 EUR. These conditions are designed to replace the previously famous “golden passport” program. Cyprus (as a country where you can get a residency by buying property) remains a leader as it has exciting tax preferences.
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Spain
Here you can get a residence permit through real estate investment within 3-6 months. The cost of the object must be 500,000 EUR, including the possibility of registration in joint ownership. The advantage of a residence permit in Spain for real estate is the rather low cost of local housing — here, you can earn capital gains, but you need to be extremely careful in choosing.
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Malta
Malta is a desirable location with excellent air connections, an ideal location, and the option to buy a second house there. From 2020, it is possible to become a citizen of Malta for 36 months (12 months as the exception) after obtaining a residence permit. According to the Maltese Citizenship Law, investors can acquire Maltese citizenship through direct investment naturalization. The minimum investment amount is 738,000 EUR for a minimal residence permit of 3 years and 888,000 EUR for a minimum of 1 year.
How to get a residence permit in these countries by buying real estate?
Depending on the laws and current programs of the state, the conditions can vary greatly. In which country and how to get a residence permit by buying a property? There is no single correct answer since each applicant is an individual, has specific goals and desires in relation to moving, may consider a particular country, or remain uncertain. Therefore, it is best to contact specialized services like CitiZen Global, where professionals will tell you all the advantages and disadvantages of the programs, the nuances, the necessary documents, and the application procedure.
