Best known among back-up residency options (that eventually lead to citizenship) are the so-called Golden Visa programs, which you qualify for by making an investment in the country, typically in real estate but sometimes in other things, too.
Buy Property In Europe And Get Residency
To qualify for residency and citizenship in Cyprus through a real estate investment you must spend at least 300,000 euros on the property. The catch is that it must be a new property in a government-approved development.
Most countries require real estate investments made to qualify for residency to be held directly in the name of the applicant. This makes estate planning and avoiding probate more complicated. Cyprus, however, allows the real estate to be held in an entity with the primary applicant for residency (and spouse, if there is one) as the beneficial owners.
After five years as a permanent resident, you can apply for citizenship, but the initial residency permit will be temporary for the first five years. That means the advertised five-year timeframe before becoming eligible for naturalization is in fact a minimum of 10 years.
Invest 350,000 euros in a property that is older than 30 years or 500,000 euros in a newer property, and you qualify for residency. These amounts can be reduced by 20% if you buy in a low population area (effectively anywhere other than along the coast).
You will receive a European Golden Visa if you purchase a property or make a large investment in a European country. EU Golden Visas are issued in the form of a temporary residence permit, which can be renewed continuously for as long as you maintain your investment (or until you become eligible for permanent residency). The EU Member States that issue Golden Visas or investment programs include Spain, Greece, and Malta as some of the most popular.
Citizenship is not guaranteed if you receive a Golden Visa. In order to receive citizenship in a certain EU State via a Golden Visa, you must spend a specific amount of time actually living there. Requirements for citizenship by investment depend on each State separately, but you are usually looking at about seven to ten years of continuous residency.
However, if you intend to purchase a property, a mortgage may be allowed, depending on the country. You still have to pay the minimum amount of money required upfront, and for anything over the minimum required amount, you can get a mortgage or loan. But remember, the exact rules change from country to country, so this may not always be true.
The Golden Visa program for Switzerland is much more rigorous than it is in most other countries. For one, to receive residency via investment in Switzerland, you would have to make one of the following investments:
Additionally, the required settlement period before you can receive permanent residency or citizenship is also higher. You need to live in Switzerland for at least 10 years to get permanent resident status and at least 12 years to get citizenship.
Similar to Switzerland, you cannot get an Austrian Golden Visa by purchasing real estate or similar non-active investments. In order to receive residency by investment in Austria, you would have to invest in something which would create jobs and have an impact on the Austrian economy.
The Republic of Cyprus had granted European citizenship by investment for quite a long time until November 2020 when the programme was suspended. However, foreign citizens can still apply for permanent residence if they invest over EUR 300,000 in real estate in Cyprus. Other investment options include purchasing commercial property such as offices, hotels, shops, etc.
You can also become a resident if you rent an expensive property in Malta for over five years. To find more details about investment programmes offered by Malta, read respective articles on our website or book a consultation with our specialists.
Still, investing in Portuguese property is highly beneficial. Unlike in other popular countries, half a million euro in Portugal will buy you a more spacious, nicely done apartment in a prestigious district. Prices in Portugal are relatively low as there is no oversaturation of the property market with foreign capital like in other European countries.
Our experts recommend buying a property or renting it for a long time in the country of your relocation as it will be factored in when your application for a residence permit will be considered by the authorities.
You can obtain a European residence permit by purchasing a property in many European countries. Unfortunately, in our article, we were able to touch upon only the most attractive options. Note that even if the country of your choice does not offer any residence by investment programmes, buying real estate will be a good argument in your favour when your visa application is being considered by the authorities.
With support from Imperial & Legal specialists, you will be able to get a good deal when purchasing a property in Europe, avoid hidden costs, get residence permits issued for you and your family and arrange for a comfortable relocation to the country of your dream.
If you invest in a Spanish residence permit by purchasing a property but stay in your home country, you will need a Spanish visa to enter the country. Immigration authorities issue a Golden Visa for foreign investors which allows them to stay in Spain for six months or a year depending on whether you have already made an investment or not. As a rule, this visa gives you enough time to buy your property and get a residence permit that allows you to stay in Spain for two years and then extend it for another five years.
It has been possible to buy real estate from foreign countries to get a residence permit there for some time now. There are programs called Golden Visas which can help foreign investors get a residence permit in another country after completing certain requirements and getting a property in the said company. Although the number of countries offering Golden Visas is increasing, Malta, Greece, and Portugal continue to offer some of the most attractive deals in the market these days.
So realistically speaking you can buy a house to be used as an Airbnb facility and make some money on the side without even going to Greece, but still reaping the benefits of its residency permit thanks to your contribution to its economy. Greece offers your whole family to be a part of this program as well, though unfortunately not your extended family. With the residency permit comes the chance to travel and work all around the Schengen region thus technically one can make a new life in another European country with a Greek Golden Visa as well.
Member states of the European Union are all developed countries with a really high quality of life. Almost half of the EU countries launched citizenship or residency by investment programs. These schemes were created for non-EU nationals, who would like to invest in the economy of a European country. Also, those who want to benefit from the right of living in the European Union and/or in the Schengen area use these programs.
Golden Visa programs in Europe provide investors with many advantages. People from all over the world want to get EU permanent residence and benefit from these advantages. This article particularly focuses on the perks of security, business opportunities, and quality of life that come with EU residency.
One of the places that I decided to do this was in Montenegro. Here, I was able to get a residence permit simply by buying property where I could then live during the pleasant summers, and because the cost of living here is so low, I was able to get a nice place and a residence permit for well under $100,000.
Finally, getting an easy second residency can often lead to citizenship. Many countries will allow you to naturalize after living there for a few years, so getting a residence permit can be an important first step in the process of getting a second passport.
Getting a one-year residence permit through real estate here actually involves a few more steps than residency for someone hiring local workers. The program has slowed down in recent years and is not the golden opportunity it once was.
You can find out more about getting a Nicaraguan residence permit here, but to summarize, you can get Nicaraguan residency by investing $30,000 (or more, depending on how you structure your investment) in an employment-generating business or in real estate.
Panama offers a wide variety of residency options, including the Friendly Nations Visa, which allows citizens of certain countries to become Panamanian residents by depositing $5,000 in a bank account and creating a Panamanian company.
Turkey was long the investment darling of wealthy Middle Easterners who viewed it as a secular Muslim safe haven for their cash. Despite a string of terror attacks, the Turkish lira held up well and property prices remained steady.
While you may not be able to invest directly into a property you can live in now, your money would support a real estate project, which may be a more comfortable investment than other EB-5 deals out there.
Although both residential and commercial real estate market prices still remain high in some places, foreign investors continue to find properties in places with strong economic growth and low inflation rates. The following is a list of the top locations for foreigners looking to purchase property in Europe, regardless of whether they are first-time buyers investing in the real estate market, or are looking to increase and diversify their portfolio.
Foreigners can buy European property and vacation rentals reasonably easily in the Republic, however, British nationals are subject to certain limitations; including a one-property limit, and the need to obtain several licenses that must be requested from the Council of Ministers.
Yet, despite the rise of Parisian real estate prices, a lot of American buyers and foreign rich investors discover that they may profit from their Parisian assets with significant rental income. Those who can afford to buy a house in Paris or purchase real estate in France can benefit from the recent zero interest rates in France by buying property early on and thereby enjoy the added benefit of domestic financing.
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