Sometimes businessmen think about buying a flat or even a cottage by the sea somewhere abroad in order to obtain a residence permit or even a passport of that country. However, you cannot get a residence by investment in real estate just anywhere.
Fortunately, there are government programmes in several jurisdictions for those who are interested in investing in real estate. They allow obtaining a residence or citizenship within a reasonable timeframe.
Vasily Kluev, a Client Services Director of Imperial & Legal, tells us about 10 countries where you can get a second passport or a permanent residence card after buying a house, apartment or a share in a holiday resort under construction.
As a rule, to obtain Spain residence, investors buy houses and apartments in holiday resorts of the country, which cost €500,000 or more. It is also possible to invest in commercial property and land. The purchased property can be sold after 5 years and you will get your money back or it will be kept for renting and living.
Not only the main applicant, but also their family members (a spouse, minor and financially dependent children and parents) can obtain Spain residence by investment.
A property must be held for at least 5 years. After that, you can sell it and recover your investment.
You can include your spouse, minor children and financially dependent children in your application for Portugal residence by investment.
In order to obtain Latvia Golden Visa, you need to purchase real estate in the country, which costs at least €250,000. You can become the owner of a great flat in a prestigious part of Riga or an apartment in the resort town of Jurmala.
The main applicant, their spouse, minor children can obtain Latvia residence by investment.
The answer to this question depends on your circumstances and preferences. For immigration purposes, people traditionally invest in Spanish real estate, but in recent years, Portugal has become increasingly popular, where houses and flats are cheaper and you can buy a more interesting object for the minimum investment amount.
If you need residence in Europe for a visa-free travel, we recommend considering Latvia. An additional advantage of this Baltic state is moderate prices for accommodation.
If you aren’t satisfied with an EU residence permit, it’d be worth considering the passport programmes of Cyprus and Malta, which offer investors citizenship by investment that is the same as a normal EU citizenship. If you have a Maltese or Cypriot passport, you are free to live, work, study or do business in EU countries. EU citizenship allows you to cross the borders of over 170 jurisdictions around the world without a visa.
Investment consists of three parts:
You can include your spouse, minor children, financially dependent children under the age of 26, parents and grandparents on your application for obtaining Malta Citizenship by Investment. The amount of government contributions and government fees for due diligence checks depend on the number of people.
Investment in the economy of the Republic of Cyprus can be made in a number of ways. We will look at the option, which is directly connected to investment in residential construction or real estate:
The total amount of obtaining a Cyprus passport is €2,200,000, you can sell €1,500,000 worth of assets after 5 years of ownership. As Cyprus Citizenship by investment program becomes more popular, over time your investment will increase in value enough to recover some of your costs.
The main applicant, a spouse, minor children and even financially dependent adult children up to the age of 28 can be included in the application for Cyprus citizenship by investment.
An investor can also obtain passports for parents over the age of 55 if you purchase a property in Cyprus that costs at least half a million euros. If a spouse’s parents are included in the application, the additional cost is €1 million.
Cyprus citizenship by investment programme stopped accepting new applications from 1 November 2020. We will let you know if the Cypriot government launches a new citizenship program whereby foreign investors can get a European passport.
If your priority is free-visa travel within the EU and other countries, and a purchase of real estate is only an investment vehicle, then the Caribbean citizenship by investment program is the right option for you.
Amount of investment in real estate
St Kitts & Nevis
Antigua and Barbuda
from $220,000 if you invest in a share along with other investors and from $350,000 if you invest alone
Buying real estate in the Caribbean is one of the most affordable ways to obtain a second passport, which is comparable to an EU passport in terms of travel opportunities and tax optimisation.
You don’t have to buy a whole house or a flat, you will be tempted to buy a share in a resort or spa complex under construction in the vast majority of cases because of the remoteness of the region and a low investment threshold.
The standard procedure involves you not only obtaining a second passport with the help of an intermediary law firm, but also selecting a property to invest in from a list of government-approved projects. When you make the investment and obtain citizenship, a contract is signed with a management company which takes care of your property, as well as finding clients and renting it out. The proceeds from the commercial use of your purchase, minus a fee, are regularly transferred to your bank account.
Regardless of which investment immigration programme you choose, the experienced specialists at Imperial & Legal are ready to advise you on any questions, which you may have, and provide full legal support at all stages of obtaining residence permit or citizenship in the chosen jurisdiction, as well as help with organising your move to another country.
We will work with you to find a customised solution for your immigration, second citizenship, business, tax and other needs.
Second passport by investment
Residence by investment
Latvia residency by investment
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