In recent years, purchasing property abroad has been a popular investment, not only due to high-quality, affordably priced real estate, but also because it provides a pathway to immigration. So, which countries allow residency through property investment?
I. Portugal
Following the global economic recovery and a series of real estate support policies from the Portuguese government, the Portuguese property market has gradually shaken off the impact of the economic downturn and rebounded from the bottom. Standard & Poor's predicts that home prices in Portugal will continue to rise, with a 3% increase in 2016. With property prices having bottomed out, fluctuations in the Euro exchange rate, and a continuously warming real estate market, now is an excellent time to invest in Portuguese property.
For Chinese investors, the real estate investment immigration program introduced by the Portuguese government is one of the key factors driving active property trading. Investing in Portuguese property differs from domestic investments; beyond securing permanent property rights, the purchase allows for obtaining residency status. The investor's entire family can enjoy local benefits in education, healthcare, and retirement, while also gaining the freedom to travel across more than 20 Schengen or EU member states.
II. Spain
Looking across Europe and the globe, Spain’s national strength, food standards, and medical systems rank among the very best. Compared to other EU nations, Spain offers a lower cost of living. Furthermore, Spain is world-renowned for its high-quality tourism resources and boasts awe-inspiring works by master architects and artists. It is fair to say that living in such a beautiful country provides a comfortable and pleasant lifestyle every day.
After purchasing property in Spain, one can obtain Spanish residency status. Applicants enjoy high-level welfare benefits, including free compulsory education, free public healthcare, and the freedom to travel through 26 Schengen Area countries.
III. Cyprus
According to the latest information, Cyprus's GDP has recorded its fastest growth rate since 2008. Furthermore, as a renowned international financial offshore center, Cyprus offers a corporate income tax rate of only 12.5%, the lowest among European countries. It has signed double taxation avoidance agreements with 45 countries worldwide, including China. Dividend income, income from overseas permanent establishments, and profits from the sale of securities are all tax-exempt.
IV. Greece
In April 2013, the Greek government launched the Hellenic Investment Immigration Promotion Law, allowing non-EU citizens to obtain a five-year renewable residency through the purchase of real estate in Greece. After five years, as long as the property remains under the applicant's ownership, the applicant and their dependents can continue to renew their residency on a five-year cycle indefinitely. On July 9, 2015, the new immigration law enhanced the rights of investors who purchase property exceeding €250,000. With a €250,000 investment, one can obtain permanent residency, become eligible for citizenship, and include three generations of family in the immigration application, making Greece the most affordable and cost-effective property investment program in Europe.