Owning real estate in some countries opens the way to obtaining a residence permit
Entering: a visa is required
Countries differ, and their immigration laws differ too, but the basic principles are more or less the same. The system is multi-level; moving to each next level, a foreigner gains more rights.
The lowest level is a visa. To enter some countries, our compatriots do not need a visa at all. These include all CIS countries, as well as, for example, Israel for Russians. There are countries where visas are required, but obtaining them is a simple formality. For example, in Egypt or Turkey, your visa will be issued right at the airport. It is clear that these countries are extremely interested in visitors from our country, so they do not create any obstacles for them.
Of course, this is not everywhere. Many countries require a tourist to seek permission at the embassy to visit them. The degree of strictness varies: for example, the US embassy is known for its fierceness. For a single unmarried woman, it is practically impossible to obtain permission to enter America: Hillary Clinton's subordinates know for sure that such a citizen is a potential prostitute who dreams only of staying permanently in their wonderful country.
The EU countries also have a harsh disposition. The Czech embassy issues visas that coincide exactly with the dates on the provided tickets: so that a Russian occupier dreaming of repeating the events of 1968 does not dare to trample their land with his boot for even a minute. But the kind and reasonable Bulgarians are much more hospitable: if you ask them for a visa for a week, they will give one for two. "God willing," the Bulgarians think, "the foreigner will decide to extend his stay and leave us another hundred or two euros."
To conclude the discussion on visas, it should be said that they can be single-entry or multiple-entry (multivisas). A multiple-entry visa for 180 days with a maximum stay of 90 days means that you can enter the country an unlimited number of times, provided you do not exceed the total amount of time spent in the country.
Residency options:
Temporary residence, permanent residence, and citizenship
The next level is a residence permit (ВНЖ). This document provides broader rights: you can freely enter the country, conduct business, receive education and medical care, issue invitations for foreigners, and obtain bank loans. There are many grounds for obtaining a ВНЖ. Among the main ones are: commercial and entrepreneurial activities; employment (with a properly obtained work permit); studying at an educational institution; marriage to a citizen of the country or to a foreigner permanently residing in it.
There is another interesting category – wealthy retirees. As we see, working in the country is only possible with permission from the authorities (the state protects its own citizens from competition with migrant workers), but spending a pension earned elsewhere is welcome.
A residence permit is granted for a limited period – usually one year. After this time, the status can be renewed provided that the grounds for obtaining it remain.
The next level is permanent residence (ПМЖ). As a rule, the basis for obtaining it is legal residence in the country (i.e., with a ВНЖ) for five years. But there are also ways to shorten the waiting time. For example, spouses of local citizens receive ПМЖ faster – after two years. One can also distinguish oneself by special merits – performing a feat for the benefit of the country, winning an Olympic medal, or advancing science. But these are quite exotic options, beyond the reach of most people. And there is a simpler way – investing a substantial amount of money in the local economy. In various forms, this loophole exists in the legislation of almost all countries. Which is not surprising: if love (ordinary love) is subject to all ages, then love of money is subject to all governments.
And finally, citizenship, i.e., full equality of rights with local residents. The differences from ПМЖ are very minor, such as the right to engage in political activities, to vote and be elected to parliament. Still, most of those who try to settle in other countries do not set such goals for themselves.
Real estate – how can it help?
"I'll get a suit with a sheen – and off to Yalta," dreamed Savely Kramarov's character in the film "Gentlemen of Fortune." Many buyers of foreign real estate sincerely believe that along with the property they also get the right to live in the country indefinitely. In fact, this is not the case. But it significantly eases the legal ordeals described in previous chapters. First of all, because buying real estate is an investment in the economy. Both one-time (at the time of purchase) and ongoing in the future (taxes, utilities, personal expenses during the period of residence).
In Bulgaria, says Ekaterina Alexandrova, PR manager of Invest Development, by presenting a notarial deed of property ownership, one can obtain a one-year multivisa. With it, you can stay in the country no more than 90 days per half year. Then you should consider a three-year visa with similar conditions. In addition to the property owner, family members – spouse and children under 21 – can also apply for this type of visa.
"The easiest way to obtain a ВНЖ is for pensioners," adds Sergey Demchenko, development director of Lemestia Group. "To do this, they need to have real estate in Bulgaria and enter into an agreement with a Bulgarian bank to transfer their pension from their home country to an account in Bulgaria, or open a deposit of 2-3 thousand euros for each pensioner, also in a Bulgarian bank."
But this is for not very wealthy people; for the affluent there are other rules. Investing 6 million leva in the economy gives the right to apply not for temporary residence but directly for permanent residence. Investing, of course, can also be done in real estate.
Similar rules apply in other countries. In Cyprus, says Denis Evseev, managing partner of Kingsland, purchasing real estate worth more than 300,000 euros grants the right to a 180-day visa. After three years, you can apply for temporary residence, and after another five years, for citizenship. In Spain, property owners are issued a one-year multivisa allowing them to live in the country for 90 days in each of the two halves of the year. The next year, the multivisa is automatically renewed if you remain the owner of the property and have insurance.
In Turkey, those who buy housing must obtain a temporary residence permit for 6 months. This takes 3-5 days and costs about 600 euros, explains Anastasia Bakulina, Senior Sales Manager at EKOL Construction Investment. After receiving the certificate of ownership, you can get a temporary residence permit for up to two years. This also takes a week and costs about 1,200 euros. Then, you can extend it for another 2 years and at the same time start the procedure for obtaining Turkish citizenship. '5 years of property ownership gives you and your family the right to Turkish citizenship. Russians can keep their citizenship at the same time,' the expert says.
In France, real estate buyers receive a multivisa, upon arriving with which they can apply for temporary residence. After several years of legal and law-abiding life, permanent residence is next. There is also the opportunity to settle in the country through investment: investing from 150,000 euros in the economy, you can apply for temporary residence and a 'commerçant card.' And after a year, for permanent residence. If during all this time you have not violated any laws, your business generates income, and you have lived most of the time in France or the EU, you can count on a positive result. With larger investments, the terms are shortened: for example, investing from 1 million euros, you can apply for permanent residence after six months.
Israel, as we have already noted, is a visa-free country for Russians for trips up to 90 days within six months (soon this benefit may also await Ukrainians). 'A real estate buyer is issued a multiple-entry visa with the possibility of staying in the country for up to 180 days a year,' noted at the company Gordon Rock. But – no more than that – purchasing real estate does not provide advantages for obtaining temporary residence and citizenship.
The same goes for Canada. Home ownership does not affect obtaining temporary residence – for that, other mechanisms exist in the country, such as business immigration programs. Another 'harmful' country that gives no privileges to property owners is the United States. And the United Kingdom is not far behind America. Therefore, experts advise resolving issues of living in a country not with real estate agencies, but with immigration lawyers.
'Switzerland should be singled out separately,' adds Elena Yurgeneva, head of the foreign real estate department at Knight Frank. 'According to cantonal legislation, foreigners without a residence permit are not allowed to buy residential real estate. In addition, the law prohibits Swiss citizens from purchasing real estate on their behalf for a foreigner and with his money.' Foreigners (sometimes with certain restrictions) who have a residence permit can buy real estate. However, non-residents have the opportunity to purchase real estate in certain cantons of the confederation.
But there are also hospitable states in the world. For example, Saint Kitts and Nevis – a federation of two islands in the eastern part of the Caribbean Sea. 40,000 inhabitants – and all, as Ostap Bender would say, in white pants. For 400 years, hardworking Saint Kittsians and Nevisians grew sugar cane, but Poland's entry into the world sugar market radically collapsed prices. The question arose of how to earn a living, and a solution was found. According to the Citizenship Act of 1984, persons who have made a significant contribution to the economy of the Federation and are of good character are granted the right to become citizens. Citizenship is given to the entire family of the applicant by a single name act of the Prime Minister. The minimum investment amount changes over time – currently it is $350,000. Needless to say, citizens deemed dishonest can be counted on one hand, and the price of all real estate projects currently being implemented in this country starts from $350,000?
Useful bonuses
Temporary residence, permanent residence and citizenship give the right to be in the country that issued them – that's clear. But are there any additional opportunities and advantages?
The most obvious and well-known example is the EU with its Schengen Agreement. 'In most of these countries, purchasing real estate gives the right to a Schengen visa, allowing travel throughout the Schengen area,' says Natalia Zavalishina, General Director of MIEL-DPM. 'One of the most loyal countries is the Czech Republic, where you can get a temporary residence permit for 1 year and then extend it. Portugal and Cyprus also provide good opportunities.'
Let us add that some countries that are not yet part of Schengen actively promote their future membership. 'Buy our real estate today – and in a year or two you will be able to travel to all EU countries.'
However, there are also lesser-known facts. For example, the already mentioned Saint Kitts and Nevis – many have probably wondered: who needs citizenship of this country? 'This state is a member of the British Commonwealth, i.e., its passport is effectively a UK passport. Traveling around the world with it is very easy and convenient,' explained to us Petr Kovalenko, head of regional sales of foreign real estate at IntermarkSavills.
Vladimir ABGAFOROV.
Metrinfo.Ru