Did you know that you can get a second passport by investing in certain countries? With many countries starting to offer citizenship through real estate investments, we started wondering why people decide to become citizens of a second country.
Well, global mobility, financial freedom and family security are just some reasons, to name a few. An undeniable fact of life is that some passports offer many opportunities when it comes to travel and business, while others can be quite limiting. Having a limiting passport can cause many struggles, from an inability to travel freely to insufficient access to good healthcare, business opportunities, and many more.
The second passport can be obtained through different citizenship by investment programmes, all with a similar concept. The premise is that countries attract investment from foreign high net worth individuals who invest in real estate for a specified period and price. In return, the applicant and their family will receive a residency or citizenship in that country, along with the benefits that come with it. Fortunately, with citizenship and residency by investment programmes, these individuals have the opportunity to change their fortune and gain a passport that will better suit their lifestyle needs and desires.
Here are some of the countries and real estate options that offer residency and citizenship by investment.
One of the most popular investment migration programmes is Portugal’s Golden Visa programme. Providing you invest between €280,000 to €500,000 into Portuguese property, individuals can secure permanent residency, which, providing the investment is maintained, can result in Portuguese citizenship. Portugal is becoming an increasingly popular place to buy property, whether for relocation or investment. The small country has a high quality of life yet low costs of living, a pleasant climate, and a steady economy.
With beautiful coastlines, charming countryside, and the lovely seaside cities of Porto and Lisbon, the country’s real estate industry has a lot to offer, making it a popular place for expats to purchase a property. The market in Portugal is inexpensive compared to other Western European capitals. In recent years, it has seen a period of steady growth, which makes it an excellent place to invest.
Several countries in the Caribbean, including St. Kitts & Nevis, Dominica, and Grenada, allow investors to gain citizenship through investing in luxury beach-front hotels, some of which have been named some of the best in the world. The Caribbean is a top tourist destination and with the investment developments being operated by some of the biggest names in the hotel industry, it makes them a highly attractive investment opportunity. Investment starts at $200,00, with investors able to sell their shares in the development after a set period, allowing them to realise a profit through capital gains.
Greece has become an increasingly desirable investment destination in the last few years, mainly because of its natural beauty, temperate climate and good value for money in terms of property. From the historic and culturally rich Athens to the gorgeous islands of Santorini, there is a wide range of real estate options for individuals looking to gain residency in Greece, be it for a holiday home or to reside there permanently. Individuals are able to gain permanent residency through investing €250,000 in real estate, which can lead to citizenship within 5 years.
Turkey gives investors a lot more freedom over the type of property they wish to purchase. Within 6 months, individuals can get a Turkish passport by investing just $250,000. From brand new luxury apartments to larger villas in the heart of the countryside, Turkey has a lot to offer regarding real estate investments. Acting as the gateway between Europe and Asia, it is easily accessible to many areas, including the cultural and business hubs of the Middle East, Central Asia, and the Mediterranean. A country is an excellent option for investors looking to conduct business and use the country as a base hub and individuals looking to buy a tranquil holiday home close to stunning beaches and natural beauties that Turkey has to offer.
There are a wide variety of options when it comes to investing in real estate to get a second passport, with different programmes offering their own unique benefits.