7 Countries that offer residence permits for property buyers

With economic turmoil looming around the corner, nations across the globe are looking for alternative means of investment. The most prominent of which is offering residence permits with the purchase of property.

While different rules and regulations apply, most laws are easy enough to follow. Owners will be able to apply for residence permits that are renewed every few years through purchasing of property. This is commonly referred to as “Golden Residency”.

Whether you are simply looking for an investment or planning to move, here are six countries where you can easily purchase real estate and apply for a residence permit.

1. UAE

The United Arab Emirates is a popular destination for both tourists and investors alike. With a booming and diverse economy, it continues to grow and prosper. For those wishing to gain a residence permit in the UAE, all you need to do is purchase property valued at a minimum of DH1 million.

The property must be located in a freehold area and entirely owned by the investor. Furthermore, when applying for residency, you must pay off at least 50% of the property value. The new owner must prove they have a monthly income of Dh10,000 or the equivalent in foreign currency.

2. Portugal

The beautiful European country offers 5-year residence permits with several investment opportunities. One of which is through purchasing of property. The law requires that the property should be valued at a minimum of 500,000 Euros. If, however, the property is in an urban rehabilitation area or over 30 years old, the minimum value drops to 350,000 Euros.

This program is known as the Golden Residence Permit Programme, and also applies to non-real estate investment. Other options include creating jobs and investing in companies or even buying stock.

3. Colombia

Who wouldn’t want to live in Colombia, where rainforests and the Andes mountains provide an unmatched landscape. Residence permits here come in several forms, one of them is the Property Owners visa. Investing a minimum of a little over $140,000 in real estate will do the trick. With a chance of renewal, the visa acquired is valid for 5 years at a time.

4. Panama

Next on our list, and bordering Colombia, is Panama. Although a residency will cost you more than double, it is well worth the money. In Panama, a property investment valued at $300,000 will allow you to stay in the country. An additional $2,000 per dependent should be invested in the property if you wish to bring family members along.

5. Ecuador

Some might say that obtaining a residence permit in Ecuador can’t be any easier. All it takes is for you to purchase property valued at no less than $25,000. Any additional dependent will add $500 to the investment value.

Ecuador’s residence permit is valid for as long as the investment is. In other words, as long as you continue to own the property, you will be able to renew the permit. During the first two years of residency, you cannot leave Ecuador for more than 90 days per year. After those years, you cannot leave for more than 18 months at a time.

6. Malta

With a relatively low cost of living and the chance to move through the EU easily, Malta is the place to invest in property. On this archipelago, all it takes us a real estate investment of €220,000. You can also rent a property that is valued at no less than €8,750 per year. However, if you are looking for property in Gozo or South of Malta, the value increases to approximately €275,000 to buy and €9,600 for rent per year.

7. Bahrain

Bahrain offers property buyers a chance to obtain a residence permit, for the buyer, their spouse and their children. However there are some terms and conditions to this.

The property you buy in Bahrain must be located in  freehold area and it must be worth more than 50,000 BHD. If you buy the property and meet all the conditions you can get a residence permit in Bahrain.

Further Tips:

• If you decide to make the move to one of the countries mentioned above, please visit their official websites for further information.
• It can be useful to hire the help of an informed and practiced attorney as they are more familiar with the process.
• All information listed is at the current time, laws and figures are subject to change.
• Remember that although you may have purchased the property, there are further requirements that may vary from one country to another. This is a long process that requires you to fulfill a few steps.

For more about real estate investment see also:

What is really considered prime real estate and how to spot it