Many changes in technology, business, and education over the last three decades have made it possible for people to live, travel, and work from anywhere. Today, everyone is a global citizen, as they have the opportunity to travel and work from any part of the world. Although bureaucratic visa regulations are still obstacles to seamless migration, they can be overcome through real estate property investment. In fact, when you invest in such properties, you can gain citizenship. How does that work? Read on below.
Open to Foreign Investments
Some countries, especially those that want to boost their real estate industry, have opened their markets for foreign investment. When a person invests in the luxury real estate market of a specific country, the person becomes eligible to gain citizenship in that country.
This idea of combining property ownership with citizenship has enticed many investors to invest in foreign lands. Often known as the Golden Visa, this option gives the flexibility for business tycoons and the wealthy to live and own properties in the countries of their choosing. So, which countries offer this option? Let us look at a few popular ones.
Monaco is a country where the rich
This Caribbean country has been offering investors the citizenship option for decades. To become a citizen, you should invest a minimum of $500,000. The cost of residency is another $10,000.
This beautiful country in the Mediterranean offers you citizenship when you invest a minimum of €350,000. You should also make a donation to the development of Malta and purchase securities in the form of stocks and bonds. Additionally, you should commit to living in the property for a minimum period of five years.
The minimum investment needed to become a citizen is €300,000, and the properties should be brand new. The citizenship process is fairly straightforward and quick.