Which countries offer residency without the requirement of buying property?
In recent years, many countries have introduced residency-by-investment programs aimed at attracting foreign entrepreneurs, investors, and professionals. While most of these programs require the applicant to purchase real estate as part of the investment, there are a few countries that offer residency without this requirement. In this blog post, we’ll explore six countries that offer residency without the need to buy property.
Portugal’s Golden Visa program
Portugal’s Golden Visa program was a popular residency-by-investment program that allowed foreign nationals to obtain a residence permit in exchange for investing in the country. However, the program underwent significant changes in 2023, and one of the most notable updates was the elimination of real estate as a qualifying investment option. Instead, applicants can now obtain residency through investments in scientific research, artistic production, or philanthropic activities.
Saudi Arabia’s Premium Residency program
As part of its Vision 2030 economic reforms, Saudi Arabia introduced a Premium Residency program that offers long-term residency without the need for a local sponsor. This program is designed to attract high-net-worth individuals and entrepreneurs to the country, and it offers a range of benefits, including visa-free travel to over 100 countries, access to exclusive healthcare services, and the ability to sponsor family members.
Paraguay’s residency program
Paraguay offers a low-cost and fast-track residency program that doesn’t require the purchase of real estate. The program is designed to attract foreign investors and entrepreneurs, and it offers a range of benefits, including a residency permit, a Paraguayan ID card, and the ability to open a business in the country.
Hungary’s Guest Investor Residency Program
Hungary’s Guest Investor Residency Program is a 10-year renewable residency program that allows foreign investors to obtain a residence permit in the country. The program is designed to attract entrepreneurs and investors who want to do business in Hungary, and it offers a range of benefits, including visa-free travel to over 100 countries, access to exclusive healthcare services, and the ability to sponsor family members.
Other countries offering residency without property purchase
While the above-mentioned countries offer residency without the requirement of buying property, there are a few other countries that offer similar programs. For example, Greece offers a Golden Visa program that allows foreign nationals to obtain residency in exchange for investing in the country’s real estate market. However, as of 2023, the program requires a minimum investment of €250,000 in real estate, which may not be feasible for all investors.
Another country that offers residency without the need to buy property is Argentina. The country’s Residence and Work Visa program allows foreign nationals to obtain a residence permit in exchange for investing in the country’s economy. The program requires a minimum investment of $200,000 in a local business or a guaranteed investment in a government-approved project.
Conclusion
In conclusion, while most residency-by-investment programs require the applicant to purchase real estate as part of the investment, there are a few countries that offer residency without this requirement. Portugal’s Golden Visa program, Saudi Arabia’s Premium Residency program, Paraguay’s residency program, and Hungary’s Guest Investor Residency Program are just a few examples of countries that offer residency without the need to buy property. By exploring these alternative options, foreign investors and entrepreneurs can obtain residency in a country of their choice without having to purchase real estate.
Source:
