For lots of nations, the glory days of being able to get long-term residency and eventually citizenship with property investment alone are over, including Spain, Portugal, and Ireland. However, nations like Greece, Cyprus, and Turkey are golden visa countries with real estate investment pathways. They are also great markets for property investment.
Golden visas are among the most desirable, but they are also highly competitive and come with strict requirements. It is advisable to get professional help from immigration lawyers. The expert team at London Immigration Lawyers can guide you through the entire visa application process and boost your chances of success.
Greece
Greece is one of many European nations that has revised its Golden visa program in recent years, but it is still a real estate Golden visa. Holders automatically get a Permanent residency permit, allowing them to remain in Greece for five years. It can be renewed so long as you maintain your real estate investment.
As of 1 September 2024, there are three types of minimum investments that are permissible:
- The 800,000 euros investment zone applies to the most popular areas for property investment, including Athens, Thessaloniki, Mykonos, Santorini, and 32 other islands.
- The 400,000 euros investment zone applies to properties located outside of the specified popular areas.
- The 250,000 special investment category applies to select circumstances, such as if you are completing a commercial-to-residential conversion.
On top of these property investment requirements, you will also need to produce a clean criminal record, show you have enough money to support yourself, and be a non-EU resident. Furthermore, any prior Schengen visa refusals could harm your chances of a successful application.
Alongside the great pathway to real estate citizenship by investment, Greece is a popular destination for real estate investment because it combines enticing properties and locations with comparatively low costs. Greece has some incredibly popular destinations like the Athens Riveriera, yet the entry prices are comparably low. That means investors can get great yields from rental properties.
Cyprus
Another of the popular golden visa countries is Cyprus, a Mediterranean island located just below Turkey. This nation has one of the simplest golden visa programs, as a minimum investment of 300,000 euros applies across all types of investment. That includes both residential and commercial real estate.
However, your real estate investment is not the only financial requirement you need to match. You also need to demonstrate a 50,000 euro annual income, with a further 15,000 euros if your spouse is joining you in Cyprus, plus 10,000 euros for any dependent child.
The Cypriot Golden visa gives you access to permanent residency, which needs to be renewed every ten years. You also need to make a visit to the country at least once every two years.
This visa program is also a fantastic route to citizenship. You can apply to gain Cypriot citizenship once you have maintained eight years of legal residence, although you will also need to prove decent Greek language capabilities and a knowledge of the Cypriot culture and its constitution.
Cyprus is another strong country for those wishing to make sound real estate investments. There is strong demand, particularly from retirees and foreign expats, meaning it should be easy to shift good-quality property. Like Greece, Cyprus’s position within the European Union provides strong property rules and legal stability.
United Arab Emirates
The final fantastic real estate investment golden visa is run by the United Arab Emirates (UAE), which remains a rapidly growing nation. Holding the visa allows you to obtain a renewable residence visa that is valid for five years for real estate investment. A longer validity period of ten years applies to investments made in a public fund.
A key perk is that you can sponsor an unlimited number of domestic helpers, necessary for the largest properties in the UAE. You will also be able to sponsor family members, including children, regardless of their age, and can apply for the visa without having a sponsor.
The minimum investment size for property investors is 2 million dirhams. That can be split across multiple properties. This is significantly higher than other forms of investment. For example, entrepreneurs can apply for a golden visa with a project investment of 500,000 dirhams.
The UAE is a challenging property market to invest in, but it does offer significant opportunities. The challenge comes as the UAE is rapidly building more units. That means there could be moments of oversupply, causing your property’s value to fall. However, Abu Dhabi and Dubai remain exceptionally popular places to live, so rental yields remain strong. Like Cyprus, you also shouldn’t have issues finding a buyer for any unneeded properties. These are more likely to be professionals hoping to boost their careers in the Middle East.
How Can London Immigration Lawyers Help?
Applying for a golden visa can be a stressful and challenging process, made more difficult by the trend of countries making their golden visas more restrictive. That is where immigration solicitors and advisors, such as London Immigration Lawyers, come in. Get in touch today to be assigned an immigration lawyer with plenty of experience with golden visa cases.
Our immigration lawyers will help you to properly understand how each of these three countries’ golden visa programs work, and what you need to do to be eligible. They will then guide you through the entire application process, including showing that your investment qualifies and that you meet the other eligibility requirements.
If you decide a golden visa isn’t right for you, but you still want to move to one of these countries, visit us online to learn more about the other visa services we offer. Or, you can get in touch for help understanding which visa best fits your personal circumstances. Many of them will allow you to make a property investment even if you can’t qualify for a golden visa.
