Are you looking to invest in the best value real estate overseas? If so you’ll want to stick around because today we are going to provide you with all you need to know about three countries offering some of the cheapest real estate residency programs on the market.
When we talk about residency by investment, the options usually include government donations, projects or development funds. However, whenever there is an option to invest in real estate and purchase your new home as well as obtain residency overseas, these programs are always even more attractive. Today we’ll share 3 of the cheapest real estate residency programs.
Turkey
Turkey is located half in Europe and half in Asia, making its geographical status quite interesting as the dual occupation of continents isn’t something we see every day. It also means the choice of relocation for towns and cities is much larger than in most other nations.
As far as the program is concerned, you have to invest at least US$250,000 in real estate, then submit the application form and open a Turkish bank account.
After a 6 month review period, you’ll receive your residency and be moving into your new home. Something else exciting is that after only 6 months you have the option to apply for Turkish citizenship.
Brazil
The fifth largest nation in the world, taking up half of the entire land mass of the South American continent, Brazil is certainly an interesting country to look into when considering your options for investments in return for visa programs.
There are two options for investing in real estate to obtain residency in Brazil, they are as follows:
1. If you’re investing in the north or northeast of the country, real estate must be valued at 700,000 real (roughly USD$138,111)
2. If you’re investing anywhere else in Brazil, real estate must be valued at 1,000,000 real (roughly USD$197,301)
It is important to mention that any property must be classed as urban in order to meet the tax criteria of the program. Though, if you are approved, you will be able to make your investment and afterwards receive a visa allowing you to live in Brazil for two years, of which you must spend 30 days of each year there in order to retain residency status.
Cyprus
Our final option comes from Cyprus, an island nation in the Mediterranean Sea, offering a rapid pathway to residency and citizenship for those of you looking to make the move overseas through investment in real estate.
The nation is also extremely advantageous in terms of business links, taxes, and the low investment threshold it has when compared to some of its other EU member neighbours.
Within one application, you, your spouse, children as well as your parents can all register your desire for residency in the nation, meaning Cyprus is also a perfect destination for families.
Your 2 options for real estate investment are as follows:
1. €300,000 + VAT investment in new residential property
2. €300,000 + VAT investment in 2 new or used commercial properties
Once you submit your application form and are invited to make the investment, processing of your residency takes between 2 and 3 months to be ready, which really is short when compared to other programs. After you’re a resident, after 5 years you’re able to apply for citizenship in the EU nation, which is, again, a very competitive time frame when looked at alongside other member nations.
So, if you are interested in finding out more about making any of the countries we've covered today your new home, as well as other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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