Investing in real estate offers a compelling proposition for many individuals, providing not only a place to establish roots but the promise of lucrative returns in the future. Over the last decade, numerous investment programs have emerged that allow individuals to obtain citizenship or permanent residency through property ownership. It is essentially known as real estate citizenship or residency.
Several governments have introduced these citizenship programs to attract foreign investors and boost their economies. This article will dissect real estate investment programs country by country and break down the criteria to complete a successful application.
Eight factors to consider when choosing a real estate investment program
Investing in real estate overseas or engaging in other types of foreign direct investment to fulfill the investment criteria for a real estate investment immigration program requires careful consideration of several key factors. The results should align with your future goals, which could be economic, strategic, or lifestyle aspirations. Here are eight factors to consider during a permanent residence or citizenship by real estate decision-making process:
Research available programs
Begin by researching and identifying the countries that offer real estate investment programs. Compile a list of potential options that would fulfill your objectives, whether you’re seeking a permanent residence permit, second citizenship, or merely a new tax residency.
Assess eligibility criteria
Review the eligibility requirements for each program, including the minimum investment amount, property ownership requirements, and any other relevant criteria. Real estate investment programs often include significant administration fees or the need to make a charitable donation to a government-approved fund.
Some countries have the option of renting real estate to be eligible for their investment programs, significantly reducing the initial capital investment for those without the required liquidity or interest to purchase property overseas. Ensure that you meet the necessary criteria.
Evaluate the country’s stability
Consider the country’s political, social, and economic stability. Assess factors such as the rule of law, transparency, economic growth, and safety. These factors are crucial in foreign risk assessments as risk should be limited to market dynamics rather than the potential occurrence of unforeseen events in an unstable country, such as political unrest, corruption scandals, and financial crises.
Examine the real estate market
Evaluate the real estate market in the country of interest. Consider factors such as property prices, market trends, potential rental income, and overall investment potential. Conduct thorough market research to make informed decisions.
Another factor to consider when evaluating the real estate market is that certain countries impose limitations on foreign ownership. In the UAE, for example, there are designated zones in Abu Dhabi, Dubai, and Sharjah, where foreigners are allowed to buy and own property.
In Cambodia and Thailand, foreign land ownership is prohibited, and individuals with temporary or permanent residency status are restricted to owning residential property units above ground level.
Analyze benefits and privileges
Assess the benefits and privileges of the citizenship or residency obtained through the real estate investment program. This may include visa-free travel, dual citizenship, access to healthcare and education, tax advantages, and business opportunities. Beyond visa-free access, strong passports on the Global Passport Index include countries with a solid overseas consular presence. Determine which benefits align with your personal and financial goals.
Consider lifestyle and quality of life
Concerning foreign investors purchasing real estate to move abroad with their family members, evaluating the country’s lifestyle, culture, climate, and overall quality of life is at the top of the list of considerations. Take into account factors such as education, healthcare, infrastructure, recreational activities, and personal preferences.
The Global Passport Index’s Quality of Life Index provides a great overall perspective of how countries fair against each other in terms of environmental sustainability, the cost of living, infrastructure, and personal and political freedoms.
If you’re an American citizen looking to obtain citizenship close to home, Caribbean citizenship by investment programs may be the most suitable for your lifestyle choice. Moreover, Malta could be the best option for members of the LGBTQ community seeking citizenship in one of the most LGBTQ-friendly countries.
Compare costs and returns
Real estate investment often serves as a long-term strategy individuals opt for, with the intention to pass on reisidency or citizenship to future generations. However, analyzing the financial aspects of the investment, including the total costs involved, the potential return on investment, and the overall profitability of the real estate venture, can present further advantages beyond obtaining citizenship or a residence permit. Consider the long-term sustainability of the investment and weigh it against your exit strategy and future financial objectives.
Seek professional advice
Consider professionals specializing in real estate investment programs, such as immigration lawyers, investment advisors, and migration consultants. They can provide valuable guidance, assess your individual circumstances, and help you make an informed decision. Global Citizen Solutions is a boutique global citizenship and residence advisory firm providing international clients with citizenship, residency, and foreign investment solutions. Contact us today to begin your journey to permanent residency or citizenship by real estate investment.
By implementing these steps and conducting thorough research, you can identify a real estate investment immigration program that matches your aspirations and puts you on the path to global citizenship.
Real Estate Citizenship Versus Residency
What is citizenship by real estate investment? Citizenship through real estate investment refers to the process of obtaining citizenship in a country by making a real estate investment. This means that individuals can secure citizenship by either fully purchasing a real estate property or investing in a share of a real estate asset within the country. While citizenship may not be attainable in certain countries, they may offer permanent residency in return for an equivalent investment.
This grants investors the rights and privileges of being global citizens with second citizenship, which includes the ability to live, work, and travel freely within the country and potentially enjoy additional visa-free access to other countries.
On the other hand, residency by real estate investment programs, like the Malta Permanent Residence Program (MPRP), provide long-term residency based on a real estate investment. While residency offers certain benefits within the country, it does not grant full citizenship or voting rights. The choice between residency or citizenship by real estate investment depends on an individual’s personal objectives.
Which country gives citizenship by buying property?
Antigua and Barbuda
Antigua and Barbuda is one of the most popular choices to purchase real estate from the cluster of Eastern Caribbean nations with citizenship by real estate investment programs.
Not only does its popularity arise from being a beautiful, safe, and welcoming country, but its real estate investment program is one of the cheapest for investors bringing their entire family. Foreign investors are eligible to obtain citizenship from a real estate investment starting from $200,000.
For successful investors wondering how many family members can be included in their application, there are no additional processing fees to include up to three immediate family members. The government will also grant citizenship by donating $100,000 to the country’s National Development Fund (NDF).
Dominica
The Dominica real estate citizenship program is another Caribbean citizenship program granting citizenship through property investment. Unlike the Antigua and Barbuda program, eligible real estate investments to Dominican citizenship are restricted to government-approved real estate projects.
Immediate family members can be included in applications, but investors must pay an additional processing fee.
The real estate investment requirements start from a minimum purchase of $200,000. Additionally, citizenship by investment applications can be submitted by donating $100,000 to the country’s Economic Diversification Fund (EDF).
Grenada
Grenada’s real estate citizenship program provides another option to obtain citizenship in a Caribbean country. Investors can choose sole ownership or shared ownership in pre-approved commercial real estate.
The investment starts from a minimum amount of $350,000 for sole ownership or $220,000 in approved commercial real estate, usually high-end touristic accommodations such as villas, resort complexes, or hotels.
Like other countries in the Caribbean, a government donation is a viable investment option to obtain citizenship, which requires a donation of $150,000 to the country’s National Transformation Fund (NTF).
Jordan
Often overlooked, the small Middle Eastern nation of Jordan operates its own citizenship program, offering second citizenship in exchange for property investment, among other eligible investments. The real estate investment option requires a property purchase of at least $750,000, the cheapest option to obtain citizenship.
Alternative investments, such as a bank deposit, purchasing treasury bonds, or purchasing shares, necessitate a minimum investment of $1 million.
Malta
Several countries offer citizenship by real estate investment; however, Malta is the only country granting European citizenship through the Malta Citizenship by Naturalization for Exceptional Services by Direct Investment program (CES). Eligible property investment in Malta requires purchasing or renting property and two additional investments.
Investors can buy property for €700,000 (about $767,000) or sign a five-year rental agreement for at least €16,000 (about $17,500).
Additionally, investors must pay a fee of €600,000 (about $658,000) to be eligible for naturalization after three years, or €750,000 (about $823,000) to be eligible for naturalization after 12 months, and donate €10,000 (about $11,000) to a Maltese organization approved by the Community Malta Agency.
St. Kitts and Nevis
St. Kitts and Nevis has the longest-running and most reputable investment immigration program of the Caribbean countries offering citizenship by real estate investment.
For that reason, the country provides a highly refined property investment application process to acquire citizenship. It offers one of the strongest passports in the Caribbean, allowing passport holders to travel visa-free or with a visa on arrival to 153 countries worldwide.
While it provides one of the more sought-after citizenship by investment programs, the investment threshold for sole ownership stands at $800,000. A joint investment is also a viable option for the citizenship program, with a minimum investment amount of $400,000 per investor; however, the purchase must be of pre-approved commercial property. The St Kitts and Nevis citizenship scheme allows several alternative investment options, including a donation of $250,000 to the nation’s Sustainable Island State Contribution (SISC).
St. Lucia
The last of the Eastern Caribbean islands that offer citizenship by real estate investment, the St. Lucia real estate citizenship program for foreign investors is one of the more affordable citizenship programs in the region. You must invest in pre-approved government real estate projects; however, real estate investment starts at $200,000 for sole ownership and covers the spouse and financially dependent children.
Additionally, residential or commercial property prices are generally cheaper than in St. Kitts and Nevis and Antigua and Barbuda. Like other countries in the Caribbean, donating to the National Economic Fund (NEF) is a viable investment option, with a minimum donation of $100,000.
Turkey
The Turkey real estate citizenship program provides several advantages that make it the ideal second citizenship, particularly for investors looking to conduct business in the manufacturing industry. Turkish citizens possess exceptional expertise in the industrial sector.
Regarding real estate, the minimum investment in residential property provides excellent value for money.
The commercial or residential real estate investment threshold is $400,000, and there are no restrictions on the type of properties investors can buy. Several additional investment options are available to obtain a Turkish passport, including a bank deposit, purchasing government bonds, or job creation.
United Arab Emirates (Dubai)
The UAE Golden Visa program is rapidly gaining popularity as the go-to option for establishing long-term residency in the Middle East. The program provides several economic advantages as the country is widely known to have no income tax, no wealth, and no inheritance tax. Furthermore, the UAE’s quality of life is amongst the best of all Gulf countries. A Golden Visa can be obtained with a real estate investment of at least AED 2 million (about $545,000) in one of the country’s designated zones for foreign ownership.
Concerning citizenship, investing in real estate is also a possibility for UAE citizenship. However, the main difference between the UAE and other countries with citizenship by investment programs is that there is no pre-determined path and application process for obtaining economic citizenship;
Golden Visa holders are elected for citizenship based on exceptional merit contributing to the nation’s development and reputation. Eligible applicants are selected by the Executive Council, Ruler, or Crown Prince Courts in Dubai.
Country | Minimum investment | Additional fees | Real estate limitations | Stay requirement | Citizenship processing time | Global Passport Index ranking | Link to ultimate guide |
Antigua and Barbuda | $200,000 | -Processing fee $30,000 -Due diligence $7,500 | None | None | Three to six months | 59th, visa-free travel (including eVisa and visa on arrival) to 150 countries | |
Dominica | $200,000 | -Processing fee $25,000 -Due diligence $7,500 | Pre-approved real estate | None | Three to six months | 78th, visa-free travel (including eVisa and visa on arrival) to 146 countries | |
Grenada | $350,000 or $220,000 for shared ownership | -Processing fee $50,000 -Due diligence $5,000 | Lowest investment must be shared purchase in government-approved commercial real estate | None | Three to six months | 74th, visa-free travel (including eVisa and visa on arrival) to 147 countries | |
Jordan | $750,000 | Not listed | None | None | Three to six months | 145th, visa-free travel (including eVisa and visa on arrival) to 81 countries | |
Malta | €700,000 (about $767,000) or five-year rental agreement of €16,000 (about $17,500) annually | -Residence permit €10,000 -Application fee €5,000 -Due diligence €15,000 | None | None | 12 to 36 months | 34th, visa-free travel (including eVisa and visa on arrival) to 172 countries | |
St. Kitts and Nevis | $400,000 or $200,000 for shared ownership | -Processing fee $25,000 -Due diligence $5,000 | Lowest investment must be shared purchase in government-approved commercial property | None | Three to six months | 53rd, visa-free travel (including eVisa and visa on arrival) to 153 countries | |
St. Lucia | $200,000 | -Processing fee $30,000 -Due diligence $7,500 | Must be government-approved commercial real estate | None | Three months | 75th, visa-free travel (including eVisa and visa on arrival) to 148 countries | |
Turkey | $400,000 | Not listed | None | None | Four months | 94th, visa-free travel (including eVisa and visa on arrival) to 128 countries | |
United Arab Emirates | AED 2 million (about $545,000) | Application fee $44,000 | Restricted to designated zones in Abu Dhabi, Dubai, or Sharjah | None | Invitation only | 24th, visa-free travel (including eVisa and visa on arrival) to 179 countries |
Countries with Residency by Real Estate Investment Programs
Anguilla
Anguilla is one of several British Overseas Territories in the Caribbean allowing foreigners to become permanent residents in exchange for investing in real estate. Also recognized as a tax haven, Anguillan residents pay zero income tax, inheritance tax, capital gains tax, and wealth tax. Investors can acquire a permanent residence permit from a real estate investment of $750,000.
Brazil
Brazil has made substantial strides in the past year to restore and elevate its position in the global economic landscape. A recent announcement to expand its double taxation agreements, with the UK now included as one of its double tax treaty countries, proves the country’s forward-thinking mentality, bolstering its viability for obtaining permanent residence by real estate investment.
A property purchase of BRL 1,000,000 (about $208,000) [BRL 700,000 (about $146,000) in the north/northeastern region] will reward buyers with Brazil permanent residency. The Brazilian government is lenient toward applicants with past criminal records, provided they possess a clean criminal record and proof of rehabilitation.
Cambodia
Cambodia is the only realistic choice when pursuing long-term residency in the Far East through real estate investment. The Cambodia My Second Home program (CM2H) offers ten-year residency to investors who purchase real estate in one of several designated government real estate projects.
The residence permit is renewable, provided the investment is maintained. The minimum investment is $100,000, and investors are eligible for citizenship after five years. Cambodia also has a citizenship by investment program.
Cayman Islands
The Cayman Islands is perhaps the most famous example of countries with no taxes. Foreign investments are deeply rooted in the country’s economic fabric, mainly due to the exclusion of common taxes, such as income tax and capital gains tax. Like Anguilla, it’s possible to obtain a permanent residence permit by investing in real estate; however, in addition to the real estate purchase, the investment program’s criteria necessitate a minimum salary.
To obtain a permanent residence permit in the Cayman Islands, investors must earn a minimum annual salary of $150,000 in foreign income and invest $1.2 million or more (with at least $600,000 invested in property); An investment in the island of Little Cayman or Little Barac reduces the annual salary to $90,000 and the required investment to $600,000 (with at least $300,000 invested in property).
Colombia
Colombia is another South American country offering residency by purchasing real estate. The Colombian residency program works by multiples of the country’s national minimum monthly salary. The existing eligibility criteria is a real estate purchase worth 350 times the national minimum wage, which currently stands at COP 1.3 million (about $312).
This indicates a minimum investment threshold of approximately $109,000. Investors receive a three-year residence permit which can be renewed for the duration of the investment.
Curaçao
Curaçao’s real estate investment program for residency offers a diverse range of residency options based on the invested amount. There are three investment thresholds foreign real estate buyers can commit, which provide a three-year residence permit up to an indefinite residence permit. By investing $280,000 in real estate and maintaining ownership of the property, investors can obtain a three-year residency permit in Curaçao, with the possibility of renewal. An investment of $425,000 increases the residence term to five years, and investing at least $850,000 will provide an indefinite residence permit with no renewal requirements.
An enticing feature of the Curaçao real estate investment scheme is after five years of residency, permit holders are eligible for Curaçao citizenship, which provides EU citizenship in and EU country and the right to freedom of movement within the EU, as well as other benefits associated with EU citizenship and access to the Schengen zone.
Cyprus
The Cyprus Permanent Residence Program has been drawing expats globally with its real estate investment option. At €300,000 (about $329,000), it’s currently the cheapest option to obtain permanent residency by real estate investment when accounting for additional contributions and government fees.
The program is highly desirable as there are no renewal requirements after receiving the permanent residency permit, provided the investment is maintained.
It’s worth noting that the program requires a VAT payment of 19 percent on the final sale price of the property (reduceable to five percent for residential properties intended for personal use), a three-year bank deposit of €30,000 (about $33,000), and a minimum annual income of €30,000.
Greece
The Greece real estate market is booming, which has seen an influx of non-EU investors buying properties. Greece’s Golden Visa enhances the allure of buying real estate there. Investors receive a five-year residence permit from a real estate purchase of €500,000 (about $548,000) and access to other Schengen countries. Provided permit holders maintain their investment, residence permits can be renewed indefinitely. Greece also offers cheaper investment options, including purchasing €400,000 (about $439,000) worth of government bonds or depositing €400,000 in a Greek bank.
Malta
Previously mentioned for its citizenship program, Malta also offers residency by investment through the Malta Permanent Residence Program (MPRP).
The program provides real estate investment as an option with a minimum investment of €350,000 (about $384,000) or €300,000 for properties in the South of Malta or Gozo. Renting out property is an eligible alternative.
The minimum rental period is five years at €12,000 (about $13,000) annually or €10,000 for properties in the South of Malta or Gozo. Additionally, the application process requires a government contribution of €58,000 (about $64,000) [€28,000 (about $31,000) for rented property] and a donation of €2,000 to a recognized NGO/organization.
Namibia
While many countries have residency by real estate investment programs, Namibia is the only African nation providing one. Foreign investors who purchase property in the President’s Links Estate project will earn Namibia permanent residency. The minimum purchase price is $316,000, and the residence permit remains valid without needing renewal as long as the investment is maintained.
Portugal
Regarding European real estate investment, Portugal is one of the most sought-after countries in Western Europe. This is reflective of the country’s affordable real estate options and ability to gain permanent residence through the Portugal Golden Visa program.
Investors can buy real estate anywhere in the country for €500,000 to be eligible for the program.
Another compelling aspect contributing to the country’s attractiveness for real estate investment is a reduced investment amount of €350,000 for investments made in commercial or residential real estate rehabilitation projects. A further 20 percent reduction is also possible, provided the property is situated in a low-density area.
Considering the widespread popularity of the Portugal Golden Visa, it is important to highlight that discussions are underway regarding the potential termination or modification of the Portugal Golden Visa program’s existing investment options in the near future.
Spain
The Spain Golden Visa is a popular choice among non-EU citizens to obtain residency in the Schengen Area. In parallel with Greece’s requirements, the program requires a minimum investment of €500,000 in real estate to ensure eligibility for a residence visa. The residence permit is eligible for renewal every five years, provided the investment is maintained. Additional investment options include investing in government bonds, starting a business, or purchasing stocks or shares.
Despite Spain having a relatively lengthy residency period of ten years for naturalization, it stands out as one of the few countries that enable citizens of former Spanish colonies to acquire European citizenship through an expedited application process. Such citizens can apply for Spanish citizenship after two years of residency.
Turks and Caicos Islands
Turks and Caicos Islands is the last British Overseas Territory in the Caribbean offering permanent residence by real estate investment. What makes the Turks and Caicos Islands Permanent Residence Certificate program alluring is the option to reduce the qualifying investment through multiple avenues.
As a result, the total investment amount is considerably lower than that of the permanent residence programs in Anguilla and the Cayman Islands.
The standard investment in real estate requires a minimum amount of $1 million; however, building, purchasing, or restoring a distressed property for residential use on the islands of Grand Turk, Salt Cay, South Caicos, Middle Caicos, or North Caicos will reduce the required investment to $300,000. Permanent residence is granted for the duration of property ownership.
Country | Minimum investment | Residency period | Stay requirement | Citizenship |
Anguilla | $750,000 | Permanent residency | None | After five years of residency with at least 183 days per annum of physical residency |
Brazil | BRL 1,000,000 (about $208,000) or BRL 700,000 (about $146,000) in the north/northeastern region | Permanent residency | 30 days per year | After four years |
Cambodia | $100,000 | Permanent residency | None | After five years of continuous residence (citizenship by investment available) |
Cayman Islands | $1.2 million (with at least $600,000 invested in property) or $600,000 (with at least $300,000 invested in property) for investments on the island of Little Cayman or Little Barac | Permanent residency | None | After five years of residency with no absences of more than 90 days at a time |
Colombia | COP 1.3 million (about $109,000) (350 times the national minimum wage) | Renewable indefinitely every three years (can apply for permanent residency after five years) | 180 days per year | After five years of continuous residence |
Curaçao | $280,000 or $425,000 or $850,000 | $280,000 investment renewable every three years, $425,000 investment renewable every five years, $850,000 investment indefinite residency | None | After five years of continuous residence |
Cyprus | -€300,000 (about $329,000) plus 19 percent VAT (reduceable to five percent for residency properties for personal use), -Three-year bank deposit of €30,000 (about $33,000) | Permanent residency | Visit once every two years | After seven years of residency (continuous residence for the year prior to applying for citizenship) |
Greece | €250,00 (On 31 July 2023, the investment threshold for real estate will be raised from €250,000 to €500,000. This change will only apply to purchases in Athens, Thessaloniki, and Santorini) | Renewable indefinitely every five years | None | After seven years of residency |
Malta | Purchase: €350,000 (about $384,000) or €300,000 for properties located in the South of Malta or Gozo. Renting: Five-year rental of €12,000 (about $13,000) annually or €10,000 for properties located in the South of Malta or Gozo -Government contribution of €58,000 (about $64,000) [€28,000 (about $31,000) for rented property] -Donation of €2,000 to a recognized NGO/organization - Renewable indefinitely every five years | Renewable indefinitely every five years | None | After seven years of residency (continuous residence for the year prior to applying for citizenship and four years of the first six years) |
Namibia | $316,000 | Renewable indefinitely every five years (can apply for permanent residency after seven years) | None | After 20 years of residency (ten with permanent residency) |
Spain | €500,000 (about $548,000) | Renewable indefinitely every five years (can apply for permanent residency after five years of continuous residence) | Visit once every two and a half to three months or eight times in every 730 days | After ten years of continuous residency |
Turks and Caicos Islands | $1 million or $300,000 on the islands of Grand Turk, Salt Cay, South Caicos, Middle Caicos, or North Caicos | Permanent residency | None | After ten years of continuous residence |
How Global Citizen Solutions Can Help
Pursuing citizenship by real estate investment is becoming increasingly popular in today’s globalized world. Many countries now offer citizenship by investment programs with the option of investing in real estate to acquire dual citizenship. By purchasing real estate, you not only contribute to the country’s economic growth but gain the financial freedom, protection, and benefits of second citizenship.
Global Citizen Solutions is a boutique global citizenship and residence advisory firm providing international clients with residency and citizenship by real estate investment solutions. Contact us today to begin your journey to a second citizenship.
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Frequently Asked Questions about Real Estate Citizenship and Residency
Can you get US citizenship if you buy property?
You cannot gain citizenship by purchasing property in the United States. However, a real estate investment may contribute to the overall investment criteria as part of establishing a new business enterprise through the EB-5 Immigrant Investor Program.
Can someone without Green Card buy a house?
There are no restrictions on foreign ownership of houses or other types of residential real estate in the United States. You don’t require a temporary residence permit, a Green Card, or US citizenship to purchase residential properties.
Can I buy a house in the USA without citizenship?
The United States has no limitations on foreign individuals buying residential property, such as houses or land. Whether you possess a business visa, a Green Card, or US citizenship, you have the freedom to purchase residential properties without any specific requirements or restrictions.
Does buying property get you a Green Card?
Acquiring a Green Card by purchasing property in the United States is not possible. However, real estate investment can be considered as part of the investment criteria for establishing a new business enterprise under the EB-5 Immigrant Investor Program. By meeting the program’s additional requirements and fulfilling the necessary criteria, you may be eligible to obtain a Green Card.
What is the easiest European country to buy property as a foreigner?
Many countries in Europe have relatively straightforward processes for foreigners to buy property. The ease of purchasing property can vary depending on factors such as legal requirements, bureaucracy, and local regulations. However, European countries like Spain, Malta, Cyprus, Portugal, Turkey, and Greece allow foreigners to buy real estate. Not only do they permit foreigners to acquire real estate, but they also offer investment programs with real estate investment options.
Which country gives citizenship after buying property?
Countries that grant citizenship after buying property are:
- Antigua and Barbuda
- Dominica
- Grenada
- Jordan
- Malta
- St. Kitts and Nevis
- St. Lucia
- Turkey
- United Arab Emirates
It’s important to note that the eligibility criteria for obtaining citizenship by real estate investment will vary from country to country. Property investors may need to fulfill additional requirements, such as substantial administrative fees, a non-refundable contribution, and exceptional merits besides economic factors.
Do you get citizenship if you buy a house in the UK?
Real estate citizenship is not an option in the United Kingdom. Purchasing property alone does not provide a direct path to British citizenship. In the United Kingdom, citizenship is primarily determined through nationality, ancestry, marriage, or by meeting specific residency requirements after obtaining Indefinite Leave to Remain.
