Real estate abroad is an effective way to invest capital, as well as preserve and increase it. In Europe, housing prices are gradually rising, which makes possible future purchases more expensive. It is also worth noting that in some countries, you can get a residence permit or even citizenship for investing in real estate. If you are considering buying a home abroad, it is important to pay attention to certain features of this process.
It is important not only to buy a home in Europe, but also to be able to freely dispose of it. What is the point of owning real estate, for example, in France or the Netherlands, if to travel there you have to apply for a visa with a limited validity and stand in queues?
Therefore, it is worth considering the possibility of obtaining status in the country where you plan to buy real estate. This could be a residence permit (RP), a permanent residence permit (PR), or even citizenship in one of the European countries.
Special state programs for investors offered by some states will help you obtain status in the country.
These programs provide the opportunity to obtain a residence permit or citizenship directly through investment in real estate.
There are countries where wealthy people can relatively easily obtain a residence permit, permanent residence permit or citizenship, and buying real estate is not a mandatory requirement. In such programs, you can even rent housing, and the main advantage is the quick opportunity to obtain status.
Once you have received one of these statuses, you will be able to freely visit the country, live in your property or rent it out.
Yes, you have every right to do so. However, it is important to understand that the statuses of temporary residence permit and permanent residence permit allow you to move freely around the Schengen area without a visa, but you can live in another country of this zone for no more than 90 days within six months. This means that you will not be able to use the housing on a permanent basis. The solution may be to obtain citizenship, for example, in Cyprus or Malta.
With citizenship, you will be able to live in any EU country through simplified registration and use the property to its full extent, be it in Germany, France, Sweden or Italy. Currently, there are many attractive offers on the market for buying housing in Croatia, Montenegro and the Czech Republic, which is especially interesting for those who already have EU citizenship or at least a temporary residence permit.
If you are comfortable trusting a person who lives in another country and who may not speak Russian (or speak it poorly), then you may well use the services of a realtor. The question is, will you be able to find a realtor you can completely trust? You will also have to personally visit the country, interact with local notaries, who almost certainly do not speak Russian. You will need a deep understanding of the legislative features in the real estate sector and a thorough check of the property for legal "cleanliness". All this may require a lot of time, effort and, at a minimum, a qualified translator.
Another option is to contact an international company that provides a full range of services, including assistance in selecting and purchasing real estate, as well as in obtaining a residence permit or citizenship. It is desirable that the office of this company is located in Russia so that you can personally verify its reputation and professionalism, as well as conclude a cooperation agreement.
This way, you can shift all the worries about purchasing real estate and preparing the necessary documents onto the shoulders of experienced specialists. For example, our lawyers have successfully helped clients resolve the most difficult issues on more than one occasion, which is confirmed by examples in our cases.
Yes, in many countries you can get a mortgage to buy real estate, including within the framework of investment programs. However, is this opportunity profitable? Not always.
For example, in Malta you can take out a loan to buy a home, but only on the condition that your deposit account will always contain an amount equal to the investment amount under the program, that is, 250 thousand euros. You can also provide documents confirming that you are able to repay the loan at any time without threatening your financial situation. However, the point of a loan in such a situation is lost - in order to take 250 thousand euros from the bank, you first need to place the same amount in the account. Whether it is worth it is up to you to decide.
In any case, if you are offered a mortgage or a loan to buy real estate, you need to consider each case individually. In some situations, using borrowed funds can be really profitable. If you are planning to invest in foreign real estate, you should contact professionals. Consultation with our experts will help to avoid hidden risks and unforeseen problems.
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