12.10.2026
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Which countries grant citizenship or a residence permit for the purchase of real estate? Such programmes exist across various regions — from the Caribbean islands to Europe and the Middle East. Conditions differ: in some places a passport is issued within a few months, while in others a residence permit is granted first, with the prospect of naturalisation later on. The investment threshold and the requirements for the property vary from country to country.
Who is citizenship by real estate suitable for, and is it worth investing in? This article will be useful to those looking for a back-up passport for travel and business, to families with children planning to relocate, and to investors who need to understand the real costs and risks involved. Below, we cover the relevant countries, the cost of participation, the application procedure and the most common reasons for refusal.
The term covers a range of different programmes: in some countries, purchasing a property grants a passport immediately, while in others it only leads to a residence permit. Many investors use such programmes to obtain a legal status without having to live in the country for a lengthy period.
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In most cases, the statuses differ in terms of how long they take to obtain, the requirements placed on the applicant, and the range of rights the programme opens up. It is important to understand these basic concepts before investing money in a specific property; this should be done in advance, not partway through the transaction.
Citizenship grants a passport of the country immediately after the purchase transaction has been verified and completed. A residence permit is an intermediate status: it allows a person to live, work and conduct business within the country's territory, but does not automatically confer citizen status.
To obtain citizen status through a residence permit, a person must live in the country for many years — sometimes even several decades — and demonstrate a stable connection to it, such as local language proficiency, a certain level of income, or ownership of property.
Permanent residence occupies an intermediate position between temporary residence and full citizenship: it lasts longer, and the renewal conditions are simpler. For many applicants, a residence permit becomes the first step towards a future status rather than a goal in itself — this route to obtaining citizenship is chosen more often than a direct application for a passport.
The programme is similar in most countries that offer this opportunity to investors. An investor can choose a suitable programme and a property approved by the authorities, such as a house, a flat, or a share in a commercial project owned by a developer or a private seller.
This option matters to those who want to obtain status without living in the country for a long period during the application process. The applicant then pays for the property, submits the documents for review, and undergoes a due diligence check; in some countries this can take several years, though the process is usually completed considerably faster.
Once approved, the applicant receives a citizen's passport or a resident card, which grants the right to enter and live in the country. In a number of countries, the procedure for obtaining a legal status can be completed without the applicant being present in person: a trusted representative, acting under a notarised power of attorney, handles the transaction and the submission of documents.
The programme is legal and regulated by the state: the government sets the conditions for participation, approves the list of properties eligible for investment, and determines the requirements for applicants — residents of other countries, including Russians, as well as applicants from Kazakhstan and Belarus.
For the host country, such investment brings a tangible economic benefit, which is why the authorities are keen to attract applicants from around the world; this forms part of national policy on attracting capital.
A second passport opens up visa-free entry to dozens of countries and considerably simplifies business travel for those who run an international business. It provides access to education and healthcare on the same basis as citizens of the country, which is particularly important if the reason for relocating is connected with the future of one's children.
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For many investors, the main goal is to obtain a second passport as quickly as possible and through legal means, without years of waiting.
For entrepreneurs, a second passport opens up the opportunity to work with foreign partners, open accounts at foreign banks, own property abroad on the same terms as local residents, enjoy a wider range of banking services, and travel freely, taking part in transactions where this would otherwise be restricted by their passport of origin.
An additional citizenship also serves as a fallback option in the event of instability in the country of permanent residence — a safety cushion for the future.
The minimum sum required to take part in such programmes is higher than for an ordinary property purchase: the investment required is greater than for a standard real estate transaction, and the total cost of participation usually exceeds the value of the property itself.
The minimum holding period for the property must also be taken into account — it cannot be sold before the set period without losing the status. In addition to the price of the property, the investor faces further costs: government fees, due diligence charges and legal fees. It is best to begin the process only once the full budget has been calculated, taking into account all associated payments, not just the cost of the property.
Important! It is best to factor additional costs into the budget in advance — they are not included in the price of the property itself and can significantly increase the total amount invested.
Not every property is suitable for participation in the programme. If the property is not on the list approved by the authorities, or belongs to a different category — residential instead of commercial, for example — the application may be rejected. Before buying, it is necessary to check whether the property meets the requirements of the specific programme, rather than relying solely on the investor's personal preferences.
Legal specialists recommend checking the current list of approved properties with reliable sources in advance, since the rules and licences for individual projects change over time. Such preliminary checks save both time and money at the stage of preparing to purchase the property.
The list of countries can be loosely divided into two groups. Some states grant citizenship directly after the purchase of a property, while others offer a residence permit, with citizenship becoming available later through naturalisation. The process of obtaining citizenship by real estate investment is broadly similar across all programmes, although the details vary from country to country.
Many countries in the Caribbean and Europe offer similar conditions, but there are also some less obvious options in other parts of the world. Below are the main countries chosen by participants in such programmes, including popular options among Russians and citizens of other states.
The Turkish programme is aimed at buyers of residential or commercial property — flats, houses or off-plan properties — with properties in Antalya and Istanbul proving particularly popular. The minimum level of investment is lower than in most European countries, while the applicant is required to keep the property for a good number of years.
Many choose Turkey in order to obtain citizenship as quickly as possible: the process is relatively fast by the standards of such programmes and takes just a few months. A particular advantage is simplified access to a US business visa, which matters to entrepreneurs doing business with the American market.
Among investors choosing to relocate to Turkey, there are a good many Russian-speaking applicants from Russia and neighbouring countries. Interest in Turkey has remained consistently high for many years, and obtaining citizenship through a property purchase in Turkey remains one of the fastest options among all the countries under consideration.
The Egyptian programme includes both residential and commercial property, provided the property is on the approved list. The programme grants citizenship directly, rather than an intermediate residence permit, which speeds up the process for many applicants.
The level of investment is comparable to other programmes in the Middle East and the Gulf states, including the United Arab Emirates. Investors often choose Egypt in order to obtain citizenship without a long wait: the time it takes to receive a passport depends on how quickly the documents and the applicant themselves are checked; usually this takes just a few months from the date of application.
This is one of the oldest citizenship-by-investment programmes in the world — it was launched as one of the first among the Caribbean countries. The applicant can choose between purchasing approved property or making a non-refundable contribution to a state fund.
In addition to the cost of the property, other fees are charged for processing and for checking family members; the amount depends on the number of people included in the application. Reviewing the application usually takes just a few months, and the status itself can be obtained without ever visiting the island of Saint Kitts during the application process.
The Antigua and Barbuda programme grants a passport upon the purchase of an approved property or through a contribution to a development fund. Once citizenship has been obtained, the authorities require the holder to spend a certain number of days in the country over a period of several years; this is a condition for retaining the status.
Even the applicant's spouse and children can obtain the same status alongside them. The republic also takes part in visa-free travel agreements with a number of states, which broadens the travel opportunities for those who have obtained this citizenship.
Dominica is one of the most affordable options among the Caribbean programmes in terms of the minimum sum required, and the whole process can be completed in just a couple of months, without the years of waiting typical of other countries.
Unlike European residence programmes, there is no need to obtain residency beforehand in Dominica. The application can be submitted remotely, without the applicant needing to be present in person in the country during the application process. The time it takes to obtain status is usually shorter than in European programmes.
The Grenada programme allows for the purchase of a share in an approved tourism development — a hotel or resort project — with the possibility of earning rental income for as long as the status remains valid. A wide range of family members can be included in the application, including the applicant's adult children, parents and grandparents, which makes the programme convenient for large families.
Reviewing an application usually takes just a few months, and investors can obtain citizenship noticeably faster than under most European programmes.
In addition to purchasing property, this programme also allows participation through the purchase of government bonds or a contribution to a fund. The property option requires a higher minimum investment, but in return the investor retains an asset that can later be sold on the open market. Additional processing fees are added to the price of the property, and the process of obtaining citizenship takes just a few months.
Similar citizenship-by-investment programmes operate in other Caribbean states, including Vanuatu, Nauru, and São Tomé and Príncipe. Citizenship in São Tomé is obtained through a similar programme, although the conditions there change from time to time, so the current list of requirements and approved properties should be confirmed before submitting an application.
Purchasing property opens up the right to a residence permit without the need to live in the country permanently. The minimum level of investment depends on the location of the property: it is higher in major cities and in the centre of the country, and lower in more remote regions.
The process of obtaining a residence permit is relatively straightforward, while naturalisation and applying for citizenship only become possible after a lengthy period of residence; this usually takes not just one year, but a good many years in a row.
The Cypriot programme is aimed at buyers of residential property and requires proof of a stable income from abroad; it is often referred to as the Cyprus golden visa, since a golden visa can be obtained there relatively quickly. The applicant's spouse and children can be included in the application.
The status grants the right to reside without a time limit, but does not replace full citizenship of the Republic of Cyprus; a separate naturalisation procedure is required for that, which usually takes a good many years. Cyprus remains one of the most sought-after options in Europe thanks to the combination of a relatively low entry threshold and EU membership status.
The applicant can either buy or rent property — both options are permitted under the Maltese programme, sometimes also referred to as the Malta golden visa; such a visa can be obtained with a relatively low-value property. In addition to property costs, a government contribution and a charitable donation to the country's fund are required.
Malta is popular among investors thanks to its comfortable climate and access to the Schengen area; many choose Malta for the freedom to move around Europe without unnecessary formalities. The status remains valid indefinitely, provided the programme's requirements are met and ownership or rental of the property is maintained, and after a certain number of years, holders of the status can apply for permanent residency in the country.
The resident visa in the United Arab Emirates is issued for varying periods depending on the amount invested in property: the larger the investment, the longer the status remains valid.
Properties in Dubai are particularly popular, as a significant proportion of the approved projects for investors are concentrated there. Renewal usually happens automatically as long as ownership of the property — a flat, apartment or villa in an approved project — is maintained.
The Panamanian programme opens up permanent residence upon the purchase of property above the set minimum sum. Permanent residence in the country is not required, but in order to gain the right to permanent residence and move towards citizenship, a person must spend a good many years there and demonstrate knowledge of Spanish — only then can the applicant become a citizen of the country.
In Latvia, an investor obtains a temporary residence permit upon purchasing property for the set sum, with the possibility of renewal for many years.
This residence permit programme is popular among investors from countries outside the European Union, since the status opens up access to free movement within the Schengen area. Bahrain operates a similar residency programme for property owners, aimed at investors from various regions of the world, including Asia and the Americas.
Similar conditions under investment residence programmes linked to property purchases have, at various times, also been offered by Portugal, France, Austria, Hungary and Italy; some of these have since tightened their requirements or temporarily suspended applications for owners of property below the set threshold, so current conditions should be confirmed immediately before submitting documents.
There are similar programmes for business immigrants in Canada, but these are not directly linked to the purchase of residential property and belong to a different category of immigration solutions. On the whole, investors can obtain a residence permit or citizenship in almost any part of the world; the only question is how many years and how much money they are prepared to invest.
The cost of participation depends on more than just the price of the property itself. Government fees, due diligence charges and legal fees must also be paid — these items make up the full amount, in addition to the price of the property. Such investments simultaneously support the economy of the host country and give the investor the right to residence or citizenship.
Below is a comparison of countries by the relative level of investment and timescales, followed by a step-by-step description of the process itself.
| Country / region | Type of status | Investment threshold | Time until investment is recouped |
|---|---|---|---|
| Turkey | Citizenship | Medium | Medium |
| Egypt | Citizenship | Medium | Medium |
| Saint Kitts and Nevis | Citizenship | High | Long |
| Antigua and Barbuda | Citizenship | Medium | Long |
| Dominica | Citizenship | Low | Short |
| Grenada | Citizenship | Medium | Long |
| Saint Lucia | Citizenship | Medium | Long |
| Greece | Residence permit | Low | Long |
| Cyprus | Permanent residence | High | Long |
| Malta | Permanent residence | High | Long |
| UAE | Residence permit | Medium | Medium |
| Panama | Residence permit | Low | Medium |
The comparison shows the overall picture: Caribbean destinations are often more affordable in terms of entry cost than European ones, but require holding the asset for longer. European options are more expensive from the outset, but more often provide access to the Schengen area than Caribbean ones.
Turkey's investment threshold and timescales remain among the most affordable of the destinations considered: for applicants who choose this destination, the process is completed faster than in many European countries. Among foreign buyers, properties in Istanbul and on the Aegean coast are in the greatest demand.
The investor must first decide what matters most to them: the speed of obtaining a passport, access to visa-free travel, or the ability to live in a particular region for many years. This decision determines which destination to choose.
Next, a property must be selected from the approved list — a liquid asset that can be resold if necessary. This choice determines whether the investor will subsequently be able to profit from the property and sell it without losses after many years of ownership.
Similar opportunities to obtain a residence permit also exist in the United Kingdom, although the conditions there differ considerably, and the best offers should be sought well in advance, not at the last moment before submitting an application.
Before the transaction, it is necessary to check the seller's ownership rights, the availability of building permits, and whether the property meets the requirements of the chosen destination. The legal transparency of the transaction is checked by an independent lawyer or licensed agent who is not affiliated with the seller and acts as an independent expert in this field. Such legal support at the verification stage significantly reduces the risk of refusal.
The purchase agreement can be completed in person or remotely, through a trusted representative — an option often chosen by applicants living abroad, including those from Russia and CIS countries.
After signing, ownership is registered in the country's state register in accordance with local law, and details of the property are entered into the land registry. Even when the process is completed remotely, the applicant must still undergo biometric verification in person at a certain point in the procedure.
Once the transaction has been registered, the applicant submits the documents for review. At this stage, they must provide a full set of documents and wait for a decision from the reviewing authority.
The due diligence check is carried out by migration and government authorities: they examine criminal records, the source of funds, and the legality of the investment's origin. This is another way of confirming the applicant's reliability — the outcome of the check determines whether the application is approved or rejected.
Some countries require an additional visa to be obtained before applying, even if the ultimate goal is permanent residence in the country.
Once approved, the applicant completes the final formalities: providing biometric data and, in some countries, taking an oath. The documents — a passport or resident card — are then issued in person or sent through an authorised representative.
Receiving the passport removes the need to obtain visas for entry to dozens of countries — this is the very visa-free access for the sake of which many choose the programme. The absence of visa restrictions after receiving the document is one of the main practical advantages, both for the investor and for their family members.
In most destinations, a residence permit or citizenship can be obtained not only by the investor themselves but also by members of their family; this significantly changes the living conditions for the whole family after relocation. Below is a comparison by country, along with an answer to the question of the return on investment.
| Country / region | Spouse | Children | Parents |
|---|---|---|---|
| Turkey | Yes | Yes | No |
| Saint Kitts and Nevis | Yes | Yes | With restrictions |
| Grenada | Yes | Yes | Yes |
| Antigua and Barbuda | Yes | Yes | With restrictions |
| Greece | Yes | Yes | With restrictions |
| Cyprus | Yes | Yes | With restrictions |
| Malta | Yes | Yes | With restrictions |
The comparison shows a general rule: almost all destinations include a spouse and minor children in the application. Parents and other relatives are accepted less often — subject to additional conditions relating to age or financial dependence on the applicant, if this option is available under the conditions of the specific country at all.
Under some programmes, parents above a certain age are only included in the application if their financial dependence on the applicant is confirmed.
In addition to the investor themselves, the application can include a spouse and children up to a certain age. Under some destinations, it is permitted to add the applicant's parents, and occasionally siblings, if they are financially dependent on the applicant. Age limits and other restrictions need to be checked separately for each destination — the rules differ considerably from country to country.
In the UAE and Malta, for example, similar documentation requirements apply for spouses. The applicant's spouse must provide a separate set of documents, even when the residence permit or citizenship is being processed under a single application together with the main investor.
Every applicant should prepare a set of documents in advance, before submitting the application. The basic set of documents is similar in most countries:
By submitting the documents, the applicant also gives consent for the processing of personal data, which the reviewing authority uses solely for due diligence purposes. In addition to the main applicant, the set includes documents for each family member.
The specific list depends on the country and may include additional certificates, such as medical insurance or proof of residential address. The documents only need to be gathered once; most destinations accept the same set for the entire duration of the review.
Under most programmes, the approved property can be rented out for the entire holding period — this allows the property to generate income rather than simply standing idle. The value of the property itself may rise along with the regional property market, although no destination guarantees such growth.
Applicants more often buy completed properties rather than those still under construction as a way of reducing risk at an early stage.
The minimum holding period varies by country: in some destinations it falls within a year, while in others it is considerably longer and can stretch to many years. The investor must take this period into account before the purchase, not years after the transaction.
Selling the property before the set period usually means losing the status obtained, and it is almost impossible to restore it after an early sale, no matter how many years have passed since the passport was received.
Important! The exact holding period should be confirmed in advance for the chosen destination; it determines both the decision on whether to sell the property and plans for recouping the money invested.
Besides the cost of the property itself, obtaining the legal status involves additional payments. It is best to understand these in advance, as it helps to avoid unpleasant surprises after the application has already been submitted. It is equally important to understand what can lead to refusal and whether it is possible to reapply.
The total cost, in addition to the price of the property, includes a government fee for reviewing the application, payment for the due diligence check of each family member, and the services of a lawyer or licensed agent who oversees the transaction. The total cost of such services varies from country to country and depends on how many people are named in the application — the more family members, the higher the total sum.
Some programmes also include a separate administrative fee for processing documents, and a fee for verifying the source of funds. Since these fees are sometimes revised every few years rather than annually, it is best to verify the current amount immediately before submitting the application.
Citizenship or a residence permit does not always automatically change tax residence; these statuses are related, but do not coincide. A person becomes a tax resident of a country only if they live there for a set number of days per year: this rule remains in force for many years and is rarely revised by the authorities.
To avoid paying tax twice on the same income, countries sign double taxation treaties; their existence should be checked in advance, before the property purchase takes place. Cyprus, for example, has more favourable tax conditions for new residents than many neighbouring countries.
It is best to confirm exact figures in consultation with a professional tax specialist, rather than relying on general information found online.
Refusal is most often linked to the due diligence check: a questionable source of funds, a criminal record on the part of the applicant, or inaccurate information in the application. Saint Kitts and Nevis operates a particularly strict check on the source of funds, and applicants often receive a refusal at precisely this stage.
An unsuitable property can also be the cause if it is not on the programme's approved list or is not listed in the country's official property register. Refusal can also result from errors in the documents, so it is essential to ensure all documents are complete and correct before submitting the application.
Reapplying is usually possible once the reason for refusal has been addressed. Before making a new attempt, it is necessary to understand what raised concerns with the reviewing authority and prepare the documents again; sometimes this requires the help of a legal firm that specialises in such matters.
Legal support at this stage is particularly important for those who view relocation as a strategy for many years ahead, rather than a one-off transaction for the sake of a single document.
Citizenship or a residence permit through the purchase of property is a fairly quick route to obtaining a second citizenship, access to education and healthcare for the family, or a kind of fallback option in case of instability in the country of permanent residence. Countries differ in their conditions for participation, the required holding period for the property, and the range of rights granted by a residence permit or citizenship.
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Before choosing a programme, it is worth comparing the conditions offered by different countries, confirming that the property meets the requirements, and estimating the additional costs beyond the purchase price in advance. For those considering such investments over many years, it is important to have accurate information about the rules of the specific programme — this helps avoid mistakes when investing in property abroad.
This depends on the legislation of both countries and is not directly linked to a citizenship-by-real-estate programme. Some states permit holding two passports simultaneously, while others do not. This question should be clarified separately for your own situation before submitting an application — ideally by requesting a written opinion from a lawyer familiar with the legislation of both countries.
Yes, under certain conditions the status can be revoked. This most often happens if it later emerges that the applicant's documents or source of funds were fraudulent, or if the investor sold the property before the period set out in the rules — a period that often spans several years.
Among European programmes, some stand out for their more accessible entry threshold and simplified procedure — the residence permit programmes in Greece and Latvia are among them. Cyprus offers similar conditions, where a Golden Visa can be obtained relatively quickly through the purchase of a lower-priced property.
Direct citizenship in Europe through a property purchase is rare compared with a residence permit followed by naturalisation.
Under most citizenship or residence-by-investment programmes, this is not permitted: the property must be in the applicant's full ownership, free from a mortgage or any other encumbrance. The programme is designed for direct investment, so the minimum investment sum is usually paid entirely from the applicant's own funds, without the use of a bank loan.
There are no formal restrictions: an investor can submit documents to different programmes at the same time, provided they have enough funds for several properties at once. In practice, however, this is rarely done, as it increases costs and complicates the due diligence check across several countries simultaneously.
Applications already submitted are usually still reviewed under the previous rules, even if the programme is later closed to new participants. Some island programmes — including São Tomé's citizenship programme — have previously suspended the acceptance of applications and then resumed operations under new conditions. This should be checked separately with a consultant, since the rules governing transitional periods differ from country to country.
Requirements vary: some programmes require a visit to the country at least once a year in order to retain residence or citizenship status, while others require no presence at all. Before choosing a programme, it is worth checking whether regular visits to the country are mandatory.
Rules vary by country: some recognise only an officially registered marriage, while others also recognise partnerships formalised under local law. Citizens of other countries in unregistered relationships may also be eligible for status alongside the applicant, but the list of supporting documents required will be more extensive.
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