10 Safest Countries That Give Citizenship by Buying Real Estate
INTRODUCTION
Easier movement across countries and greater acceptance of dual citizenship have opened gateways for people of this time. Unprecedented catastrophes, such as the 2008 financial crisis and the recent pandemic, have emphasized the need for hedging against future losses. And who can understand this concept better than investors? Investing in the safest countries that offer citizenship through real estate investment has emerged as one of the most feasible alternatives. This is particularly true for wealthy individuals who can afford various types of citizenship programs. It has come to notice that about 90% of the world’s millionaires have achieved their current standing by investing in real estate.
Double Gains
Not only is investing a great financial opportunity, but it also brings various benefits associated with citizenship in another country. These investment chances can be availed through either a direct citizenship-by-investment option, which does not require a lot of time, or through a residency program that eventually leads to citizenship in a few years. Investment programs and their terms and conditions vary across countries.
Global Real Estate Market: An Overview
Real estate investment has always been viewed as one of the less risky avenues. Its significance, however, has increased with rising inflation and the availability of a worldwide pool of opportunities. No longer restricted to the boundaries of just one country, real estate investment becomes even more alluring with the citizenship component. Not only can one secure against the time value of money, but the added benefits of another passport or citizenship can greatly enhance overall possibilities. According to research, about 25% to 30% of global property is bought by real estate investors.The global real estate market size in 2022 was recorded at $3,704.02 billion, and with a Compound Annual Growth Rate (CAGR) of 5.32% between 2023 and 2032, it is expected to reach $6,219.88 billion by 2032, per Precedence Research. The Asia-Pacific region accounted for 40% of the revenue in 2022.
Countries That Give Citizenship by Buying Real Estate
1. Uruguay
A permanent residency program for investors in the real estate sector is available for those seeking citizenship in one of the world's safest countries. Check out our 30 Safest Countries in the World in 2024, for a detailed outlook on safest countries. The physical presence requirement extends to only 60 days a year in the country, and while the application approval takes about 12-18 months, permanent residency is obtained as soon as the application is approved. The investment amount required is $525,000.
2. Mauritius
As one of the safest countries offering citizenship through real estate investment, Mauritius provides an indirect route through its Permanent Residency Program. Under this plan, an investor can purchase a designated real estate project worth $375,000 and obtain immediate permanent residency. With continuous residence of seven years (or five for Commonwealth citizens), applicants can attain citizenship. Alternatively, a faster scheme involves a higher investment of $500,000, leading to citizenship in two years, though the physical residence requirements are more restrictive in this case. The types of real estate investment include integrated resort schemes, real estate schemes, property development schemes, smart city schemes, invest hotel schemes, and ground plus two apartment schemes. While dual citizenship is recognized, applicants must demonstrate proficiency in either English, French, or a local language.
3. Curacao
A real estate investment program is available for individuals desiring residency and, ultimately, citizenship in this safe country. Investors can participate in this program in three ways. Firstly, by making a minimum investment of $280,000 and maintaining ownership, one can obtain a three-year residency permit, which is also renewable. Another option is to invest $425,000 and gain a five-year residency permit. In the third scenario, an $850,000 investment would lead to an indefinite residency permit without any renewal requirements. Five years of residency make one eligible for citizenship.
4. South Korea
South Korea’s Immigrant Investor Scheme for Real Estate (IISRE) is an initiative by the Korean government to attract foreign investors to the country and encourage them to pursue citizenship. Although considered an expensive option, the scheme allows for permanent residency within five years and eligibility for citizenship application. The entire citizenship process takes 5-6 years, and applicants must demonstrate proficiency in the Korean language. The program requires an investment in hospitality real estate, including condominiums, hotels, golf resorts, villas, and similar categories in selected investment areas. The investment entails a minimum purchase of qualifying real estate for KRW 1 billion (approximately $750,000). Investors of any age can acquire this real estate and obtain temporary residency, known as F-2.
5. Spain
As one of the safest countries worldwide, Spain offers a Golden Visa Plan for permanent residency through real estate investment. This option requires a €500,000 investment in real estate on the open market. The period for obtaining permanent residency is five years, and for citizenship, it is 10 years. However, for certain nationalities and ethnic groups, the 10-year requirement is reduced to just two years.
6. Monaco
For individuals aspiring to obtain residency or citizenship in Monaco, there is an investment opportunity in real estate, albeit not a direct citizenship route. However, this path is not only expensive, but the country also does not allow dual citizenship. The option involves a property purchase of €500,000 and an additional €500,000 bank deposit to establish financial independence. This aids in obtaining a permanent residency card (Carte de Sejour). To become eligible for the country’s citizenship, one must reside continuously in Monaco for 10 years and maintain a clean criminal record.
7. Bermuda
Another safe country offering a residency program that leads to citizenship is Bermuda. Through their Economic Investment Certificate Program, which requires a substantial investment of $2.5 million in various forms, including residential or commercial real estate, investors can attain permanent residency in five years. Furthermore, individuals who are not absent for more than 450 days in the five-year period and are present in the country for the last year preceding the application become eligible for British Overseas Territories citizenship. The investor's spouse and children under 18 are automatically included, and those in the 18-25 age bracket may also be included, provided they are studying in a higher education institution.
8. Turkey
Turkey's citizenship by investment program stands as one of the most popular citizenship routes globally, with over 13,000 applicants and their families seizing this opportunity. Among the various options available, the real estate route requires a minimum purchase of $400,000, with no specification regarding the property type. Following the purchase, a residence permit application is submitted, and after the completion of all relevant paperwork, a review is carried out, which may include an interview. Typically, it takes about 3-4 months for citizenship to be granted. The inclusion of a spouse and children under 18 is automatic, and the property must be held for at least three years after obtaining citizenship.
9. Jordan
To encourage foreign investment, the government of yet another safe country offers a direct citizenship-by-investment route, which includes real estate as an option. Initiated in 2018, the program allows investors to participate by investing a minimum of $750,000. Additional requirements include passing a background check and providing financial proof. After qualifying for the program, applicants and their families (spouse and children) can also apply for citizenship, typically granted in about six months.
10. Saint Lucia
While Saint Kitts and Nevis boast the oldest citizenship-by-investment programs in the Caribbean Islands, Saint Lucia is the youngest. Investors can obtain citizenship in this beautiful country in just about 3-6 months by simply investing about $200,000 in a government-approved real estate project. Additionally, there are non-refundable applicant fees.
