Malta, Greece, Portugal: Where You Can Buy Property and Get Residency
It has been possible to buy real estate from foreign countries to get a residence permit there for some time now. There are programs called Golden Visas which can help foreign investors get a residence permit in another country after completing certain requirements and getting a property in the said company. Although the number of countries offering Golden Visas are increasing, Malta, Greece, and Portugal continue to offer some of the most attractive deals in the market these days.
- Over a 1.000.000 Euros of initial investment
- Free travel in Schengen region
- Possibility of citizenship in a year
- Extended family inclusion with parents and grandparents included
- Great tax benefits unless you are a tax resident
Malta’s Golden Visa is quite unique in the sense that one needs to do a more thorough research about it before heading in. Instead of having more traditional and simple limits off investment Maltese ask for a couple of steps to be done before investing in their real estate market. As a non-European one needs to have an annual income of no less than 100.000 Euros or you should have at least 500.000 Euros of capital assets. Then the government asks for a 250.000 Euros of investment in government stocks and only then you can invest in the real estate to get your Golden Visa. Interestingly you can also just rent a place that costs at least 10.000 Euros a year to be able to participate in the Maltese Golden Visa program. Or, quite traditionally, you can buy a house that is at least 270.000 Euros. The administration fee of the program is 35.000 Euros and an extra 5000 for any family members. There is a possibility of upgrading to citizenship via other programs. Ultimately Maltese residency by investment program is neither cheap nor very simple but it most certainly gets the job done. Since Malta is in the Schengen area your residency affectively means that you can just travel and work with ease in other parts of Europe as well.
- Real estate investment of more than 250.000 Euros
- Free Travel in Schengen Region
- Immediate permanency residency
- Full family inclusion
- No residency requirement unless you want to become a full citizen
Greece has arguably one of the better-known Golden Visa programs in Europe. Its popularity may owe it to its relative cheapness, at least in European standards. In order to get a residency permit in Greece you are going to have to buy a real estate that costs at least 250.000 Euros. With thousands of scenic islands and numerous types of houses in the bustling capital of the country there is something for each taste in Greece when it comes to real estate. Due to the booming tourism industry of the country one can also invest in more touristic real estate options and make some money on the side by renting it in high times. This is quite easy to do since Greece does not ask its investors to spend time in the country in order to get the residency permit. So realistically speaking you can buy a house to be used as an Airbnb facility and make some money on the side without even going to Greece, but still reaping the benefits of its residency permit thanks to your contribution to its economy. Greece offers you whole family to be a part of this program as well, though unfortunately not your extended family. With the residency permit comes the chance to travel and work all around the Schengen region thus technically one can make a new life in another European country with a Greek Golden Visa as well.
- Real estate investment of more than 500.000 Euros
- Free Travel in Schengen Region
- Permanent residency in 5 years
- Extended family inclusion with parents included
- No residency requirement
Portugal Golden Visa is yet another rather successful program that helped the country greatly to have a more stable economy after the last crisis that affected most of Europe. One needs to buy a real estate that is worth 500.000 Euros and more. One should then live in Portugal for at least 7 days in your first year, and 14 days in the subsequent ones. This is more of a visit than an actual living given its shortness so it should not really interfere with the investor’s life if he or she wishes to lead it somewhere else than Portugal. Since Portuguese residency permit too gives you the right to roam around the Schengen area freely one can quite easily start living in one of the many other European nations after entering the continent through a Portuguese Golden Visa. Portugal offers a permanent residency for those that continue with the program for 5 years, and citizenship for those that go on for 6 years. So it is possible to upgrade one’s investment, per se. No matter whether the residency is turned into a citizenship or not the investor can also bring his entire extended family into the program as well, which included one’s parents as well as the parents of one’s spouse, making Portuguese Golden Visa more reasonable for those with a huge family that they do not want to be separated from.
Try reaching out to one of our many experience representatives and find out the best country where you can get a residency by buying real estate in it.
Privileges of Permanent Eu Residence Permit
Member states of the European Union are all developed countries with a really high quality of life. Almost half of the EU countries launched citizenship or residency by investment programs. These schemes were created for those third country nationals, who would like to invest in the economy of a European country. Also those who want to benefit from the right of living in the European Union and/or in the Schengen area use these programs.
Golden Visa programs of Europe provide investors with many advantages. People from all over the world want to get EU permanent residence and benefit from these advantages. This article particularly focuses on perks of security, business opportunities and quality of life that come with EU residency.
One might choose their place to live based on many different criteria. However, security will always be a major factor among other contributing factors. Living in a safe place with your family is just a dream for a lot of applicants. EU residence offers exactly that to the investors. Europe in general can be considered as safe. Realistically, nowhere on Earth is absolutely and perfectly safe, but it is more than possible to live crime-free in Europe. European countries take care of the residents’ and citizens’ rights. This not only covers the investors’ and their families’ security, but also their assets’.
The European Union’s internal common market is opened for all residents and citizens of any member state. The single market exists for the benefit of all the European Union’s 500 million residents and citizens. Its cornerstones are the “four freedoms”: Free movement of people, goods, services and capital between all 27 EU member countries. These can be enjoyed, with limited exemptions, by everyone living and working in the European Union. Closeness to all the European business hubs is just another convenience EU residency provides.
Quality of Life
In the European Union everything is alright with the above mentioned cornerstones of living anywhere. In Europe, living a quality life with all its beauties is just the normal way of living. Meanwhile, residents can enjoy all the benefits the EU can offer. Some of them can be listed as access to:
- Employment and all correlating conditions
- Education and vocational training
- Social security and health insurance
- Social assistance
- Social benefits
- Freedom of movement, especially the EU
- Freedom of association or union
- Grants and Loans
Golden Visas are great for Permanent Residence Permit
Golden Visa, by definition, is a type of residence permit. The programs are designed to attract high net worth individuals into the European countries, and enables non-EU nationals to obtain European residence permit. What it essentially does is to let the holder live in the country and spend time towards naturalization. However, in the sector, Golden Visa is generally used in substitution for “residency by investment”. Like the usage of the word Kleenex as a synonym for tissue, Golden Visa as a term encompasses residency by investment programs.
Being an EU resident grants the Golden Visa owner visa-free travel in and of itself. Golden Visa holders have the right to travel within the Schengen Area without a visa. There are several countries throughout the world that will grant visa-free access to permanent residents of the EU. These countries do not require these residents’ passports to give access. EU residency also provides more legitimacy when applying for visas in countries that still require the resident to obtain one.
The reasons why Golden Visas are so popular are quite simple. This particular form of residence permit does not require much. Golden Visa does not require having a job offer or marrying someone. It also removes the need to start a business which comes with many chores and taxes. Therefore, it removes most of the headache.
Golden Visa applicants usually prefer the route for real estate investment. Each country has its own set of requirements to apply the Golden Visa program.