They said that 2025 is for doing big things, we are not waiting for opportunities to come, we are going to meet opportunities. If you’re considering a big move this year and in the coming years, we have good news for you! With that being said, let’s jump into this juicy topic.
Quite a number of people are not aware that purchasing property in certain countries can get you residency or citizenship in that country.
There are so many potential benefits of moving to another country. You could have another retirement plan, a significantly lower cost of living, escape an unstable political environment, access better healthcare, get immersive cultural experiences, secure a slower-paced lifestyle, or plan for more favorable taxes, depending on where you live at the moment.
But before investing resources into these opportunities provided by these countries, it is important to carry out your own research, make sure that the tax laws, residency laws align with yours. It is also important to think of your long term goals, don’t rush into buying, if this country will not be able to serve you in the long run.
It is very important to also try and travel to these countries first. Spending some time in the place you intend to buy a property from is advisable. Having an idea of the living conditions in your intended country helps to either solidify your decision or dissuade you from going further:
1. Portugal: The Golden Visa program allows investors to obtain residency by purchasing real estate. After a period of time a person can begin processes for their citizenship.
2. Spain: The Spanish Golden Visa program offers residency after 5 years and citizenship about 10 years later to those who invest at least €500,000 in real estate.
3. Greece: Greece offers a Golden Visa program that grants residency to individuals who invest a minimum of €250,000 in real estate. This includes family members too, it doesn’t offer citizenship immediately and so long as you meet other requirements, it is a good path to take to getting citizenship in another country.
4. Cyprus: Cyprus previously had a citizenship by investment program that included property purchase, but it has been suspended since 2020. But, they still offer residency through real estate investment.
5. Turkey: Turkey’s citizenship by investment program allows individuals to acquire citizenship by purchasing real estate worth $400,000 or more.
6. Dominica: Dominica’s citizenship by investment program allows for real estate investment as one of the options, with a minimum investment of $200,000. It is not strictly based on investment in property, a person can choose to contribute to a government fund. In exchange, you get citizenship and access to visa-travel to different destinations.
7. Saint Kitts and Nevis: This country offers a citizenship by investment program that includes real estate options starting from $200,000. As an investor, after owning the property for a specific period you can apply for citizenship.
8. Antigua and Barbuda: Similar to Saint Kitts and Nevis, Antigua and Barbuda offers citizenship through property investment from $400,000.
It is important to keep in mind that these programs often come with specific requirements, fees, and conditions that can change over time. It’s essential to consult with legal experts or immigration consultants for the most current information and guidance tailored to your situation.
Happy New Year folks! Even this year, E-Solutions dey for you!