The European Commission recently released its "Autumn 2013 Economic Forecast," which indicates that after the Eurozone and EU economies shrink by 0.4% and experience zero growth respectively this year, they will achieve growth of 1.1% and 1.4% in 2014. The Eurozone and EU economies are set to achieve positive growth next year. Signs of European economic recovery are emerging, and these data provide a solid foundation for European property-based immigration, which is bound to remain popular next year.
In 2013, many European countries successively increased their policy openness and promotional efforts for property-based immigration, leading the industry to dub 2013 the "Year of European Immigration." While the United States and Australia have raised their investment thresholds, countries such as Portugal, Spain, Greece, and Cyprus have successively introduced favorable immigration policies. Considering the practical needs of middle-aged families to care for elderly parents and raise children, Portugal has been promoting its "Golden Residence Permit Program" which "benefits three generations" since last October: to obtain residency, non-EU citizens only need to purchase property worth 500,000 Euros. The main applicant, their spouse, and children under 18 can obtain Portuguese residency within 2 months. Portugal's investment immigration policy allows the main applicant, secondary applicant, and children to enjoy all benefits of the country, except for the right to vote and stand for election, after obtaining a residence permit. For immigrant children, once they obtain Portuguese citizenship, they can enjoy the same treatment as EU students; almost all courses are recognized by the Ministry of Education, and their degrees are valid throughout Europe. If they choose to pursue further studies in other European countries, the cost is only about 40% of that for self-funded international students.
Not long ago, the Spanish Parliament officially passed a new "property purchase immigration" bill, making it the first major EU country to formulate such a policy. Its multiple identities as a major EU country, a Schengen member, and a tourism powerhouse have quickly made this established European nation a focal point for investors. In the long run, Spain's "property purchase immigration" has unique advantages, mainly because Spain has a large land area with many properties to choose from; another reason is that Spain's business environment is better, which is highly attractive to large-scale investors.
Regardless of which European country is chosen for property-based immigration, applicants should note: it is best to invest in completed properties. Although the price may be slightly higher, it is safer; it is best not to invest in off-plan properties. In addition, pay attention to the market value of the completed property being invested in. To avoid local sellers inflating the market price, you should also hire an international surveying firm to assess the market price to reduce investment risks.
