12 European Countries That Offer Residency When You Buy Property
Are you dreaming of living in Europe one day? Whether it’s waking up every morning to church bells or the smell of the Mediterranean Sea through your window, relocating to Europe these days is much more straightforward than you’d think.
These 12 European countries offer the chance to make your dreams a reality by purchasing property and gaining residence, plus other benefits.
From easy travel throughout the European Union for frequent weekend trips to access to top medical care at a reasonable price and incredible scenery, the sweet life in Europe doesn’t have to stay a dream!
Ready to explore where your investment could take you? Let’s dive in.
1. Italy
Imagine waking up to an espresso in your new home with views of the Tuscan hills or living next to the lively markets of Rome. Lucky for you, with the residency perks this is possible.
The Elective Residence Visa program is a visa category that offers applicants residency through property purchase. The requirements include proof of income not earned in Italy and property ownership.
In addition to residency, benefits like access to national healthcare, easy travel to other EU countries, and, for families, free access to kindergarten and schooling.
2. Greece
Greece receives 250 days of sun all year round, has delicious food, and strong family values, and has one of the most straightforward residency visa programs available.
The Greek Golden Visa Program allows non-EU nationals to move to Greece with a few requirements upon applying, including a clean criminal record, valid health insurance, proof of income, and the purchase of property worth at least 250,000 euros. The process takes 6 months, and the visa is good if you maintain property ownership.
3. Spain
As someone who’s luckily lived in Spain, I can say firsthand what an amazing country Spain is to enjoy a leisurely pace of life, great food, and warm locals.
If these interests you, consider looking into Spain’s Golden Visa Program. The program requires purchasing a property worth at least 500,000 euros, a clean record, being 18 years or older, having sufficient income to live in Spain, and health coverage.
The benefits of having residency in Spain include traveling easily throughout Europe, access to education programs for families, and a no-stay requirement, so you can stay or leave as often as you like without risking losing your residency.
4. Cyprus
Ever dreamed of living on an island in Europe? Cyprus may be where you can buy some property and gain residency!
With their Permanent Residence by Investment (PRP) program, applicants are welcome to invest in property on the island for at least 300,000 euros plus VAT while showing proof of a medium income of at least 50,000 euros per year.
The benefits? In addition to living near breathtaking nature, turquoise beaches, and ideal weather almost all year long, the locals are known for their friendly nature, and English is widely spoken on the island.
5. Montenegro
If you’re a fan of incredible nature and want to lead an active lifestyle, Montenegro offers this, plus a mild climate.
Montenegro’s property residence program requires foreigners to prove at least 50% of property ownership and that the property be legally registered. Additionally, applicants must have medical coverage and a clean criminal record.
The benefit of buying real estate in Montenegro in addition to residency is the possibility of renewing your application for permanent residency after 5 years and then applying for citizenship after 5 more years. Montenegro has a high quality of life, a low cost of living compared to other European countries, and low crime rates.
6. Latvia
Latvia is a country in the Baltic region of Europe that attracts many people because of its beautiful nature, affordability, and safety.
Foreigners must apply for the Latvia Golden Visa to obtain residency in Latvia. This visa requires the purchase of a property worth at least 250,000 euros and holding the investment for at least five years.
Once the application is submitted, the process takes 1-3 months. Once processed, you and your family can benefit from freely traveling, studying, or working from anywhere in Europe.
Even though Latvian and Russian are widely spoken, English is quickly becoming widely learned throughout the youth, which makes it even more attractive for Americans interested in investing and setting roots in Latvia.
7. Hungary
Love a good schnitzel and goulash? Hungary is another country that offers residency by investment in a quick and practically seamless process.
The Guest Investor Resident Program (Hungary’s Golden Visa) offers a generous 10-year residence permit when you buy property in Hungary. Some properties start at 200,000 euros, making this residency program more attractive and accessible.
The main requirements for the program are proof of property ownership and income, amongst other documentation. Located in the middle of Europe, relocating to Hungary offers ample opportunities to travel within Europe to your heart’s content.
8. Malta
Is enjoying a Mediterranean-style climate and lifestyle in a country where English is one of the official languages possible? In Malta, definitely!
Check out the Malta Permanent Residence Program (MPRP), which requires an investment in a property in Malta of at least 350,000 euros, or possibly a bit less, if you’re looking at the areas of South Malta and Gozo for at least five years.
Many who have done it before say the process is pretty straightforward, which is great news considering all the benefits of living in Malta. From the sunny year-long weather to the country’s safety rankings and stability, what’s not to love about the possibility of retiring in Malta?
9. Turkey
Turkey is located between two continents—Europe and Asia—which, combined with its beautiful coastal towns, impeccable beaches, and lively mix of people in one country, makes it the ideal destination for anyone looking for an exciting place to call home.
Consider the Turkish Residency Program, which offers residency permits to applicants who invest in local real estate for a 3-year residency program, with the opportunity to renew for 5 years after.
The minimum cost requirements depend on the city. In large cities like Istanbul and Ankara, the investment should start at $75,000, while in less populated areas, it is $50,000.
10. Andorra
Settle in Andorra, one of the smallest European countries nudged between France and Spain. Enjoy endless natural adventure opportunities, a fusion of Spanish and French culture, and a peaceful lifestyle.
Andorra’s Residence by Investment Program requires a property investment of 400,000 euros, plus spending at least 3 months of the year in the country.
In addition to the incredible scenery, residents can enjoy low taxes, access to high-quality healthcare (Andorra ranks in the top five globally), and easy travel throughout Europe. Those moving with children will be exposed to rich local culture at schools, where they will learn Spanish, French, Catalan, and English.
11. Bulgaria
Affordable, culturally rich, and historical, Bulgaria has long been a popular destination for Digital Nomads worldwide who want a taste of the European lifestyle, a growing international community, and fast Wi-Fi.
Bulgaria’s Golden Visa Program offers residency to applicants who invest at least 300,000 euros in an apartment or other property in the country. After years, residents can apply for naturalization if the investment is held for the same number of years.
So, if you’re looking to live in a country that favors art and music, has incredible wildlife, offers great skiing, and has breathtaking beaches in one place, Bulgaria may just be calling you!
12. Monaco
Do you love the finer things in life? Do you have 500,000 euros to invest? You could be looking at your new home in Monaco!
Apply for the Monaco Residency by Investment Program with 500,000 euros. Applicants also need to provide proof of income a clean record, pass an interview, and finally receive approval from the government if they’re a good fit.
Once you have residency, after 9 years, you can apply for a Privileged Residency card, a permanent residency card valid for 10 years.
Which European Country Do You See Yourself Settling In?
Personally, I love Turkey. It’s one of my favorite countries I’ve visited. The language barrier could be difficult for a while, so I may lean towards a more English-friendly option or Spain since communication is more manageable.
Which of these European countries can you picture yourself living in? Let us know in the comments!
