Investing in real estate can provide many great perks and one such benefit can be a new passport. Some counties in the Caribbean and in Europe will grant you a residence visa alongside your property investments. In these countries, one can avoid having to pass language tests or live in the country, as is customary in other countries, before being granted residency. While you simply get residency at first, you can extend your residency to get a passport.
Investing in real estate in exchange for a passport provides a strong incentive for investors to invest in these countries. According to the New York Times, passport and residence options have grown in popularity, drawing approximately $20 billion in annual investment.
Several countries, like some Caribbean island countries and Vanuatu in the South Pacific, are willing to trade passports for as low as $100,000.
In Europe: Spain, Greece, and Portugal offer a resident permit in exchange for a property. Once the purchase has been completed one can live in the country of the investment and also be able to stay up to 90 days consecutively every 6 months in EU countries. Hence, property investment in these countries can grant you access to opportunities in Europe.
Europe has put more barriers than the Caribbean in order to restrict the number of people getting European citizenship. The Golden Visas in Europe require that the investment be made without the use of a mortgage. Moreover, unlike in other countries in Europe, one must wait a couple of years before being issued a passport. Portugal has a five-year grace period during which the applicant must stay at least a week per year in the country. Nevertheless, we recommend when investing in property to hold it for at least five years to benefit from the economic rewards of the property investment.
To gain access to this additional benefit, CI-Property has partnered with a number of companies that specializes in real estate investments in locations that grant citizenship. So if you are interested in a new passport or visa please contact us for more information.
Please get in touch if you have any questions or want to know how you can get involved in the property market.