High-net-worth individuals and expats from around the world purchase real estate in Europe for many different reasons. Some are looking for a holiday home, while others eye it as an investment opportunity.
However, real estate alone may not grant the desired length of stay or unrestricted travel. This is where residency or citizenship permits come into play. Let's take a look at popular European nations offering these golden visas through real estate investments.
First up - Shedding the Spotlight on Portugal's Golden Visa
From late 2023, Portugal's golden visa program no longer offers a direct real estate investment option for residency. However, investors can still contribute a minimum of €250,000 into the Portuguese economy. This can be through investments of at least €500,000 in funds, job-creating businesses, or scientific research activities.
How to Pick a European Country for Real Estate Investment
When selecting a country for a residency or citizenship-by-investment program, consider factors like the required property cost, investment return period, and visa-free travel opportunities.
Top 5 European Countries for Real Estate Investment for Citizenship or Residence Permit
1. Spain Golden Visa
In Spain, high-net-worth individuals can invest €500,000 or more in residential or commercial property to obtain a renewable residency permit. After five years of legal residency, investors may apply for permanent residency or Spanish citizenship after another five years and upon renouncing their previous nationality.
2. Malta Citizenship
A €700,000 property purchase or €16,000 annual rent, coupled with other investments, can lead to Maltese citizenship in 1-3 years through the exceptional services by direct investment route. You must contribute €600,000 or €750,000 to the Malta National Development Fund after holding a residence permit for three years.
3. Greece Residency by Real Estate Investment
A relatively affordable €250,000 investment in real estate secures a five-year residency permit, renewable indefinitely. After seven years, investors can apply for Greek citizenship.
4. Turkish Citizenship
A real estate investment of $400,000 or more grants Turkish citizenship within 6-8 months, providing visa-free access to over 100 countries, including Japan and Singapore.
5. Cyprus Permanent Residency
Invest €300,000 or more in Cypriot real estate to obtain a permanent residency permit. This life-long status allows free movement within the EU and a pathway to Cypriot citizenship after five years.
Real Estate: A Golden Investment Opportunity
While requirements vary across programs, real estate remains a popular investment choice for high-net-worth individuals seeking residency or citizenship in Europe. Properties range from luxury villas and apartments to commercial real estate and hotel shares.
Many programs allow the inclusion of spouses, children, and dependent parents under the same investment, subject to additional fees. Besides, investors often have the option to rent out their properties, generating income while meeting residency requirements.