One of the best ways to invest and obtain permanent residency in the country of your choice is to buy property in that country. Many countries, such as Greece, Spain, Turkey, and Southern Cyprus, have provided the opportunity to obtain residency by purchasing property. To attract foreign investors, these countries have programs such as the Golden Visa, in which people can obtain temporary or permanent residency in that country by investing in property, starting a business, or making a deposit in a bank. However, in countries such as Austria, Canada, and Germany, purchasing property alone is not enough to obtain residency. Therefore, choosing an investment destination should be based on your budget, goals, and laws. Join us as we introduce the best countries for residency by purchasing property.
Most of the countries where residency by purchasing property is possible are located in Europe and the Middle East. In the following article, we will examine eight of these countries with high facilities and suitable conditions for obtaining residency by purchasing property. You can choose your destination wisely based on the conditions and by considering the laws, restrictions and facilities.
Greece
One of the most popular countries to obtain residency by purchasing property with the lowest investment amount in Europe is Greece. In this country, for 250,000 euros, you can get a five-year renewable residence permit and also travel to all Schengen countries without a visa. Choosing Greece for investment also has other advantages, including not having to live there to obtain residency, low cost of living and rich culture of the people. You can rent out your property and earn a monthly income of euros.
Spain
To qualify for the Spanish Golden Visa, a significant amount of money is required. The best and fastest way to get the Spain Golden Residence and its other benefits is to invest at least 500,000 euros in real estate and land, which will grant you a 3-5 year renewable residence in the country. You can make this investment by purchasing one or more properties and after five years of residence, you can obtain permanent residence by purchasing a property and after ten years, Spanish citizenship. This four-season country with a high quality of life, international schools and warm people is an attractive option for families.
Turkey
If you are planning to immigrate to Turkey or make a profitable investment in this country, the fastest and best way for you to obtain residency is by purchasing property in Turkey. Given that the price of housing in Turkey is somewhat similar and sometimes lower than in Iran, you can easily enjoy the benefits of Turkish citizenship with this action. You can obtain permanent Turkish citizenship with a minimum amount of 400,000 liras and a five-year extension of your residency, provided that you have lived in this country for at least four years. Residency by purchasing property in this country is suitable for all budgets and is easy to access. Turkey also has a good climate and a lower cost of living than other European countries.
South Cyprus
By residing in South Cyprus, you can enjoy permanent residence without the need for an extension without the need for a language certificate or continuous presence in the country. With a minimum investment of 300,000 euros plus VAT and the purchase of a newly built residential property from official developers, you can apply for Cypriot citizenship after five years. By residing in South Cyprus, you can also travel to EU member states. In addition to the benefits of this country and its high standard of living, the conditions for obtaining residency by purchasing a property there are more stringent. The requirement to have an annual income of at least 50,000 euros, which increases for each dependent person and must be provided from sources outside Cyprus, is one of these conditions.
UAE
A great investment abroad for you could be buying a unit in a tower or villa in Dubai. With the growth of property prices in Dubai, you can make a dollar profit and enjoy the high quality of life there. Starting prices for obtaining residency by purchasing property in the Emirates are from 750,000 dirhams, equivalent to 205,000 dollars, and you can purchase your desired unit by paying only 20% of the property price, because all units have cash and installment payments. Zero percent inflation and the increasing progress of Dubai and the possibility of pre-purchase are the advantages of this investment. Currently, purchasing property in the United Arab Emirates only provides the possibility of obtaining a temporary residence visa for two to three years, which can be extended, and the possibility of obtaining permanent residence in this way is not directly possible.
Malta
To obtain permanent residency and a Malta Golden Visa, you must purchase a property worth at least 300,000 euros in less developed areas and 350,000 euros in urban and densely populated areas. Malta is the smallest member state of the European Union, which, with its rich culture, low cost of living, high level of health and education, and advanced economy, is a good option for applicants to obtain citizenship and residency by purchasing property. By obtaining residency by purchasing property in Malta, you can obtain permanent residence in Europe without having to be present even for six months. Having an annual income of at least 100,000 euros outside Malta or a minimum capital of 500,000 euros, as well as being at least 18 years old, are among the conditions for applicants to apply for residency in this way.
Dominica
To obtain residency by purchasing property in Dominica, there is no need for continuous physical presence or language proficiency. Applicants must invest a minimum of $200,000 in government-approved real estate. By obtaining a Dominica passport, you can benefit from its economic benefits such as tax exemptions in international trade and obtain permanent citizenship of the country, which can be transferred to subsequent generations. You can also travel to more than 140 countries without a visa with this country’s passport. Dominica, an island located in the heart of the Caribbean Sea of the American continent, is a good option for investment due to its easy citizenship and economic benefits.
Montenegro
Currently, it is possible to obtain temporary residency by purchasing property in Montenegro, which requires purchasing property for at least 250,000 euros in underdeveloped areas and 450,000 euros in developed areas. Temporary residency is usually issued for one year and can be extended, and to apply for citizenship, you must apply after at least 5 years of continuous residence. The general conditions for residency by purchasing property include: providing ownership documents, health insurance, a certificate of no criminal record, and registration with the local police.
What are the benefits of obtaining residency by purchasing property?
Obtaining residency by purchasing property is a breeze. This method has many advantages, including the ability to immigrate with your family, having a home for foreign trips, preserving your capital and earning income from it, etc., some of which we will mention in the rest of the article.
A legal and safe way to immigrate:
Taking steps to obtain residency by purchasing property in foreign countries, which is done with formal contracts and government supervision, is safe and secure and does not have the risks of illegal and informal methods.
Profitable investment:
Given the advanced economy and growing job market in many countries, obtaining residency by purchasing property also brings economic benefits. If you do not intend to live in this property, you can rent it out or sell it in the future for a higher profit.
Possibility of traveling to other countries without a visa:
By obtaining residency by purchasing property in many countries, it is possible to travel to numerous countries without a visa, which is an important advantage for business purposes or family trips.
Possibility of accompanying family:
In most cases, after obtaining residency by purchasing property, dependents, such as spouses and children under the age of 18 or 21, can also obtain residency. In some cases, even dependent parents are included in this benefit.
Ease and speed in obtaining residence:
Residency through property purchase is usually faster than other immigration methods and will get you to your goal in a short time. Obtaining residency through property purchase is also a simple and convenient way for applicants because it does not require an educational or language certificate and does not have complicated conditions.
Steps to obtain residency by purchasing property:
Immigration through investment in foreign real estate, like any other important task, has its own specific steps. Below, we will briefly review the steps for obtaining residency by purchasing property.
Consulting with experienced people and reputable immigration companies:
Please note that consulting with legal experts, immigration lawyers and specialists in this field can help you achieve a better result and follow the legal path. We at Nobility Immigration Institute are ready to assist you in obtaining residency by purchasing property, using the best immigration consultants. For more information, just contact us.
Select country and check conditions:
First, choose the destination country depending on your goals and conditions. This choice should be based on your budget, immigration goals, and living conditions. Then, carefully examine the details of the conditions in that country.
Preparation of documents:
You should collect all the documents required to purchase property and apply for residency to prepare for the next steps.
Proceed with complete information:
Investing in real estate is expensive, so don’t go blindly. After choosing your destination for residence and purchasing property, and before transferring any funds, make sure that the permits and documents of the property are correct, and take steps to find out about the property’s status, loans, debts, or legal restrictions.
Selecting and purchasing property:
By visiting in person or online, the desired property is selected and a contract is signed.
Submitting documents and applying for residency:
One of the most crucial steps in obtaining residency by purchasing a property is to submit documents and a residency application to the relevant government authorities after purchasing the property. These documents usually include a purchase contract, proof of payment of taxes and fees, and evidence of financial stability. The residency application is filed in the form of official forms and documents.
Request review:
The relevant authorities will review and approve the documents. This stage of obtaining residency by purchasing property involves checking the accuracy of the information and conducting research.
Obtaining residency, extending it and applying for citizenship:
If approved, you will be given a residence card, which is valid for between 1 and 5 years, depending on the country. After that, you can apply for permanent residence or citizenship, subject to meeting the requirements.
Conclusion
In this article, we discussed one of the best ways to immigrate, namely obtaining residency by purchasing property, listed the best countries for obtaining residency in this way, and pointed out the important steps and points in this way. Buying property for immigration is an opportunity to achieve a better life and increase capital, but given the differences in laws in countries, careful research and consultation with experts in this field are important in this path. Thank you for your support in this article, we hope that the information provided will help you choose the best destination.
At Nobility Immigration Institute, using the best consultants and experts in the field of immigration, we are ready to provide you with the necessary guidance regarding obtaining a Greece visa and also a German visa. You can contact us through the communication bridges for more information and free consultation.