Citizenship by buying a property: overview of terms and conditions of obtaining
Before changing your country of residence, you should consider employment and housing. If you are considering different countries, then choose to obtain citizenship by buying a property, if possible. So you will simultaneously buy a house or apartment and become a full resident of the new country.
And even if you do not plan to leave your home country soon, investing in a developed country’s real estate market is always the right decision. And a pleasant bonus will be obtaining citizenship, which will get rid of visas and facilitate travel to other countries.
Investing in real estate in exchange for a residence permit is a popular investment option, the amount of which is approximately 2.4 billion dollars worldwide. Most often home buyers for this purpose are wealthy people from China, Russia and the Middle East.
Reasons for acquiring new citizenship may be different. Some people want to move in order to ensure the safety of their families, others want to realize themselves in the professional field, to provide quality education and wide opportunities for children. In addition, investment in real estate has been and still is the most profitable way to get a stable income, for example, when renting out.
Many countries have a variety of programmes that allow for citizenship or residency in exchange for real estate investments. They have their own nuances to familiarize themselves with before making a decision.
The conditions in the Caribbean, Spain, Greece, Italy, Albania and other Mediterranean countries are very popular.
To get a passport of Dominica, which is in the Caribbean, you must invest in real estate from 200 thousand dollars. The procedure of registration is simple enough, and the warm climate and landscape captivate many people. But you have to be careful – hurricanes and floods often happen in this region.
It’s possible to become a resident of the United States. Here the EB-5 program is offered, that allows to obtain a green card in exchange for purchase of a residential or commercial object, but the truth is in 5 years after the conclusion of the transaction. Now the minimum investment in the market makes 500 thousand dollars, but by the end of the year the sum will increase to 900 thousand dollars. The program EB-5 assumes not only purchase of habitation, it is possible to invest money in the regional center or the organization which have the investment projects. And as a result you get securities, not property rights.
In European countries, citizenship programs in exchange for the purchase of real estate are almost identical. You need to buy an object on the sea coast worth from 350 thousand to 2 million euros. In addition, there are several other requirements: the need to stay in the state for a certain period of time, insurance and social contributions.