Numerous countries have established real estate investment programmes that enable people of other nationalities to obtain residency — even citizenship in some cases — if they purchase real estate. Multiple scenic countires across the world have introduced real estate citizenship to attract foreign investors and boost their economies and high networth individuals (HNIs) are purchasing properties for various reasons, one of them being, owning a holiday home on foreign land. In case you have additional disposable wealth, take a look these 10 countries that provide residency through real estate under their investment programmes.
No 1. Brazil | By purchasing a property worth Brazilian real 1,000,000 (₹1.7 core minimum investment cost) in the north/northeastern region can get you permanent residency. The Brazilian government is lenient towards applicants with a clean record and no involvement in criminal activities, can can seek rehabilitation in Brazil.
No 2. Greece | The Greek real estate market has seen an influx of non-EU investors. Purchasing property in Greece is made more alluring by the Golden Visa programme. Investors receive a five-year residence permit, renewable indefinitely after buying a property for €500,000 (about ₹4.57 crore) and gain entry to Schengen nations. It has less expensive options to invest, like depositing $3.41 crore) in a Greek bank or buying €400,000 (about $439,000) in government bonds.
No 3. Cambodia | Investing in a designated government real estate projects through the Cambodia My Second Home (CM2H) program can get you a 10-year residency permit. It is renewable, provided the investment is maintained. After five years, investors are eligible for citizenship with a minimum investment of $100,000 (₹83.5 lakh).
No 4. Cyprus | By investing €300,000 (about $329,000 or ₹2.73 crore) in real estate through the Cyprus Permanent Residence Program, Indian nationals can enjoy permanent residency with no renewal requirements if the investment is maintained. Do note that the program needs a three-year bank deposit of €30,000 (about ₹27.5 lakh), a minimum annual income of €30,000 (Approximately ₹ 30 lakh) and a VAT payment of 19% on the final sale price of the property (reduceable to 5% for residential properties meant for personal use).
No 5. Anguilla | It is one of the British Overseas Territories in the Caribbean that allows permanent residency to foreigners for investing in real estate. Invest $750,000 in real estate and enjoy permanent residency in this tax haven, with no income tax, inheritance tax, capital gains tax, or wealth tax.
No 6. Spain | Non-EU citizens, who wish to obtain residency in the Schengen Area, often choose the Spain Golden Visa. In addition to Greece’s requirements, applicants must invest a minimum of €500,000 (₹4.17 crore) in real estate to be eligible for a resident visa. If the investment is maintained, the residency permit may be renewed every five years.