Buy property abroad and get a residence permit or a second passport? Is quite real. We talk about 10 popular countries and purchase conditions

A residence permit abroad or citizenship provides a number of advantages: the ability to travel freely, receive tax benefits, or have access to education and medicine. A fairly common way of obtaining a permanent residence permit is the purchase of real estate in the country of future residence.

This article lists the top 10 countries where you can get a residence permit or citizenship when buying real estate.

Portugal

The program for obtaining a residence permit in Portugal when buying real estate has been in operation since 2012 and is in great demand. In 10 years, 27,000 people have already used it.

An investor can buy real estate under restoration worth from €350,000 (if the object is located in a small settlement, its value can be from €280,000) or new real estate from €500,000. These can be residential properties in the interior regions of Portugal, the Azores and Madeira. You can also buy commercial properties in any region of Portugal. You can sell the house and return the invested funds after 5 years.

The owner of real estate in Portugal and his relatives have the right to submit an application for a PMP permit or citizenship of the country after 5 years. At the same time, it is not necessary to live in the country, it is enough to stay in Portugal for at least 7 days a year.

An issued permanent residence permit in Portugal allows:

• travel freely in the countries of the Schengen Agreement and stay there for up to 90 days every 180 days;

• come to Portugal at any time and live in the country without time limits;

• tax benefits – a special NHR status issued for 10 years will allow you not to pay taxes in Portugal for income received in other countries and will reduce the income tax rate in Portugal from 48% to 20%;

• after 5 years, obtain Portuguese citizenship, the presence of which will allow you to choose any EU country for your life and will give you the opportunity to travel to 187 countries of the world without visas, including the USA, Canada, Great Britain and Australia.

Cyprus

In order to obtain a permanent residence permit in Cyprus, it is necessary to purchase residential real estate in the amount of €300,000 or more. It can be one or more objects, but it is allowed to invest only in primary real estate. You can also consider the purchase of commercial real estate, the amount of expenses is also from €300,000, but here you can also consider objects on the secondary market. The permit is issued for 5 years, after which you can apply for citizenship in the country.

Advantages of registration of permanent residence permit in Cyprus:

• no need to pay taxes and dividends on income received abroad. Also, there are no inheritance taxes in the country and generally very low tax rates;

• after 5 years, you can obtain citizenship, which allows you to travel without visas to 170 countries of the world, including EU countries and Great Britain;

• additional income from renting out housing and an annual increase in its market value by 1-4%;

• the possibility of conducting business in the country - this can be the purchase of a share in a Cypriot company, opening one's own business or transferring an existing company to the jurisdiction of the island;

• living in a country with a high quality of life. Cyprus is a country with a fairly highly developed economy. According to the Human Development Index, Cyprus ranks 31st in the world. The island has the lowest crime rate in Europe.

Spain

The program for issuing a residence permit in Spain when buying real estate has been in operation since 2013. The minimum investment amount is from €500,000. In order to obtain a permit, you do not need to pass an exam on knowledge of the country's language and culture. You must live in Spain for at least 7 days a year. The property can be rented out, and you can sell it after 5 years.

After five years of permanent residence in the country, the investor can obtain a PMP, and after another five years, submit documents for Spanish citizenship.

Advantages of obtaining a permanent residence permit in Spain:

• unimpeded movement in EU countries;

• the ability to enter Spain at any time and stay for an unlimited amount of time;

• access to European education and health care system;

• the opportunity to do business in the state;

• citizenship of an EU member state (after 10 years).

Turkey

The Turkish citizenship program by purchasing real estate is in great demand. The amount of investments is from $400,000. 95% of investors choose to buy real estate because prices in the Turkish market are increasing by 15-25% per year. You can buy apartments, villas, plots of land, shares in real estate objects. Over the past few years, the cost of apartments has doubled, so buying real estate in Turkey is a very profitable investment method. You can return the invested funds after 3 years by selling the house after obtaining citizenship.

Turkish citizenship will allow:

• issue a Schengen visa C-2 for 5 years and stay in the Schengen countries for up to 90 days every 180;

• travel without a visa to 110 countries of the world, including Singapore and South Korea;

• arrive in Turkey at any time and stay on the territory of the state for an unlimited time;

• issue an E-2 business visa in the USA, which gives the investor and his family the right to live and work in the country;

• issue a tourist visa to the USA.

More details here.

UAE

The UAE has been issuing so-called "golden" visas for real estate purchases since 2019. They are an analogue of a residence permit for investors.

In 2022, changes were made to the requirements of the program, which took effect in October. From now on, in order to get a "golden" visa for 2 years, it is necessary to purchase real estate in the amount of $204,000, for 10 years - $545,000. It is allowed to buy residential real estate in special districts. For the purchase, you can take out a mortgage from one of the UAE banks, but the down payment must be at least 50%.

Restrictions on the period of stay in other countries were also removed, and it was allowed to buy real estate at the construction stage.

You can apply for naturalization citizenship only after 30 years of residence in the country. Previously, it was possible to obtain UAE citizenship for exceptional merit.

In order to maintain the status, it is not necessary to live in the country, it is enough to come 1-2 times a year.

Advantages of a "golden" visa in the UAE:

• the ability to come to the UAE without restrictions at any time (for the investor and his family);

• there is no tax on income, capital gains, inheritance, real estate and gifts in the country;

• possibility to open an account in UAE banks;

• the right to issue a driver's license;

• access to education and the field of medical services;

• the possibility to apply for UAE citizenship.

Caribbean countries

In the Caribbean, when buying real estate, an investor gets the right to obtain citizenship of one of the states. In order to apply for citizenship, it is not necessary to pass exams on the knowledge of the language or history of the countries of the Caribbean basin. There are also no requirements regarding residence in the states, you do not need to come here either before or after the passport is issued.

St. Kitts and Nevis

In St. Kitts and Nevis, an investor needs to purchase real estate worth $175,000 or more (for a share in a social or infrastructure real estate project) and $200,000 if buying a share in a five-star hotel, resort complex, apartments, etc. Money for some objects can be returned after 5-7 years.

Benefits of citizenship of St. Kitts and Nevis:

• the possibility to travel without a visa to 157 countries of the world, including Singapore, Hong Kong, Great Britain, Ireland and EU countries;

• the right to issue a long-term visa in the USA (B-1/B-2 immediately for 10 years);

• the opportunity to register a company in the country and conduct international business;

• tax benefits.

Grenada and Saint Lucia

The cost of housing in Grenada starts from $220,000, in St. Lucia - $300,000. The property can be sold after 5 years and part of the money returned.

Benefits of citizenship of Grenada and Saint Lucia:

• the possibility to travel without a visa to 146 countries of the world, including Great Britain, the Schengen zone, Singapore and Hong Kong. Visa-free entry to China for 30 days is also available;

• issuance of a tourist visa in the USA for a period of 10 years;

• the right to register an international company;

• low level of taxes.

Antigua and Barbuda and Dominica

In Antigua and Barbuda, it is necessary to purchase real estate for the amount of $100,000 or more. While the object is owned, the investor receives a profit from renting it out.

In Dominica, the minimum real estate value is $200,000. You can return the funds after 3 years. The procedure for acquiring citizenship is completely remote.

Advantages of citizenship of Antigua and Barbuda and Dominica:

• visa-free travel to Schengen countries, Great Britain (investors stay in the country for up to 180 days), Hong Kong and Singapore;

• tourist visa in the USA for 10 years;

• lowering the level of taxes.

You can get a permanent residence permit based on the purchase of real estate in many countries around the world. It is also worth noting that purchasing real estate is not the only way to obtain a residence permit abroad. There are many types of permanent residence permit: for retirees, freelancers, students, guests, in case of investment or business.

You can find out all the intricacies of obtaining the right to stay and live in any country in the world on the Visit World service platform, which contains all the necessary information for tourists, migrants and expats.

We will remind you that earlier we talked about how to issue a residence permit in Germany, France and Italy.