10 Surprising Countries To Get a Golden Visa Through Real Estate Investment

A flurry of Americans recently showed interest in moving overseas—but, without ancestry or a job relocation working in your favor, it isn’t always easy to claim citizenship or permanent residency in another country.

“Since the [presidential election] results, we’ve seen a flurry of inquiries,” says Steve Corbin, senior associate and attorney at Harvey Law Group, an immigration law firm.

One way of gaining entry is to buy real estate. Many countries offer residency in exchange for a minimum real estate investment.

“More countries than people realize offer real estate–linked investment migration opportunities,” says Thomas Scott, group head of real estate at global citizenship advisory firm Henley & Partners.

The bonus? You will likely make a profit while securing your residency or citizenship abroad.

“Historically, real estate has had a proven track record of attractive growth and returns,” he says. “If you combine getting an alternative residency and citizenship with a good real estate investment, it does become a very compelling proposition.”

Introducing the golden visa

Real estate linked to golden visas is a popular way for countries to attract foreign investment while foreigners gain residency. And it can be a lot cheaper than buying property in the U.S.

“People are realizing that, in many places around the world, it’s possible to buy prime coastal and city properties for much less than comparable homes would cost in the United States,” says Kathleen Peddicord, CEO and founder of Live and Invest Overseas.

But it’s not as easy as whipping out your checkbook.

“When it comes to buying real estate overseas, the best way to go about it is to put boots on the ground, meet with several real estate agents, and do your due diligence yourself,” adds Sophia Titley, the site’s senior editor. “Every country has its own rules and regulations about buying property. Some impose unique restrictions on foreigners. And, keep in mind, most countries do not have MLS listings like in the U.S.”

You might also want an expert to guide you through your options.

“Given the wildly varying requirements, we would always recommend using legal professionals that specialize in golden visa applications to assist in identifying suitable property,” agrees Corbin.

For instance, you can’t buy a property for far below the minimum, then pour thousands into renovations or improvements and still meet the qualifications. Nor can you just buy a real estate investment trust, or REIT.

“In very general terms, the minimum sum represents the minimum purchase price for the property, excluding taxes, conveyancing costs, improvements, etc,” says Corbin.

Golden visas can be controversial, with many believing they help drive up prices, making homeownership unaffordable for locals. It’s for this reason that some popular countries like Spain, Portugal, and the Netherlands have ended their real estate golden visas.

If you do find a country that works for you, you might not want to sit on the decision for too long.

“These invest-for-residency programs come and go quickly, so you need to snap them up when they’re available,” warns Titley.

It helps to consider countries off the beaten path. Often, less popular countries have cheaper minimums and are more eager for foreign cash.

Here are the top 10 surprising places to snag your real estate–linked golden visa.

1. Panama

Real estate investment minimum: $300,000

Panama is rapidly becoming the hot country for expats.

It recently ranked No. 1 in the InterNations Best & Worst Countries for Living Abroad poll. Four out of 5 expats said they were happy living in this small Latin American country (82% vs. 68% globally).

It also ranked very high in personal finance (respondents said their disposable income was more than enough to live on comfortably), expat essentials (it’s easy to get things like internet access and visas), and working abroad (the weekly average for full-time positions is 41 hours, which is lower than the global average).

There are also miles of pristine beaches, a large English-speaking expat population, and extremely low income requirements (only $1,000 a month).

The downsides? Panama is a cash society with limited acceptance of credit and debit cards, according to Corbin. And for those uncomfortable in high humidity, this most definitely isn’t the place for you.

Malta

Real estate investment minimum: 600,000 euros (excluding real estate fees)

The housing landscape in Malta features historic properties, luxury apartments, and waterfront developments, particularly in popular areas like Gozo, Valletta, Sliema, and St. Julian’s.

“As one of the smallest and most densely populated countries in the world, Malta punches above its weight in the global real estate arena,” says Scott.

The market has been buoyed by strong interest from both local and international buyers, driven by its robust economy and its demand for rental properties being high, thanks to expats, students, and tourists. Rental investments are a lucrative option for investors.

The beautiful, historical island also has tons of entertainment, restaurants, and amenities and is located near Europe and Africa.

With Greece having increased its minimum golden visa requirements to a pricey 800,000 euros in more urban areas, Malta is a worthy alternative.

Cyprus

Real estate investment minimum: 300,000 euros

With its stunning beaches, Mediterranean climate, and Greek and Turkish influences, Cyprus is considered an ideal destination for permanent residence for non-EU nationals.

Cyprus has a complex history wherein its northeastern portion is governed by a de facto state recognized only by Turkey. There’s also a buffer zone between the Greek Cypriots (south) and the Turkish Cypriots (north) controlled by the United Nations.

Talk to your adviser about how this may affect your investment.

Northern Cyprus

Real estate investment minimum: None

In case Southern Cyprus is out of your price range, Northern Cyprus offers the good life on the Mediterranean for a fraction of the typical cost.

“Any size of investment in a Northern Cypriot residential or commercial property makes you eligible for a golden visa, but investments in raw land don’t qualify,” says Lief Simon, director at Live and Invest Overseas.

You do need to prove sufficient funds to support yourself, but that is only 8,000 UK pounds for two years.

Once you sign contracts and pass a police background check, you can apply for residency and live in the country while your application is being processed. Your spouse and children under 18 can also get residency. You cannot work or do business in Northern Cyprus on your investment visa.

Montenegro

Minimum real estate investment: None

Like Northern Cyprus, buying property of any value in this Balkans country can get you on the track to residency, according to Simon.

That said, foreigners can’t buy certain types of land. For example, agricultural and raw land and land in national parks or near historical monuments are off-limits. And properties aren’t exactly cheap—unlike those $1 homes in Italy.

Again, in case this sounds too good to be true, keep in mind that the time-in-country requirements are fairly strict and the small country is not part of the European Union. You’ll have to be present in the country for 11 months per year to renew your residency and be eligible for eventual citizenship.

Known for its mountainous terrain, medieval villages, and even beaches and glacial lakes, the country is so small, you can drive through it in one afternoon.

St. Kitts and Nevis

Real estate investment minimum: $325,000

“St. Kitts and Nevis is a dual-island Caribbean destination offering pristine beaches and tropical landscapes. Its culture is diverse, with African, British, Carib, and French influences,” says Scott. “It’s an attractive location for owning a second home in the Caribbean, enjoying good air links to Europe and North America.”

Additional benefits of citizenship include visa-free travel to over 150 countries, including the EU Schengen Area, and the right to live, work, and study in St. Kitts and Nevis.

Mauritius

Real estate investment minimum: $375,000

Mauritius, part of the Mascarene chain of islands in the Indian Ocean, is known for its pleasant tropical climate, multiculturalism, and spectacular coral reefs and volcanic terrain.

Additionally, its dynamic economy, attractive tax regimes, and competitive business landscape have bolstered the country’s global stature and are attracting high net worth individuals and families from around the globe.

The island boasts Asian, British, Chinese, Indian, and French influences and ancestry.

Mauritius, with its stable governance, is projected to experience a remarkable 95% growth rate, positioning it as one of the world’s fastest-growing wealth markets, according to the 2024 Africa Wealth Report published by Henley & Partners.

Anguilla

Real estate investment minimum: $750,000

A British territory located in the Caribbean, Anguilla comprises a larger main island and several smaller ones. It is known for its clear blue waters, prehistoric petroglyphs, and protected wildlife sites.

The minimum is hefty, but it will qualify up to four family members. The property needs to be retained for a minimum of five years. Allowed property types run the gamut: homes, villas, condominiums, hotel units, or other forms of housing. (If you want to go cheaper, investing in a public capital fund project requires only $150,000 per individual.)

You can save on the back end: Residents can take advantage of Anguilla’s status as a legal tax haven. The island has no direct taxation—with no income tax, capital gains tax, gift tax, net worth tax, inheritance tax, or corporate tax.

The country is also an associate member of the Caribbean Community, or CARICOM. The community of 21 countries stretches from the Bahamas to South America.

The downsides? There is limited access to international goods and services and air travel.

Cambodia

Real estate investment minimum: $100,000

The My Second Home program in this beautiful Asian country allows foreigners to gain permanent residency after living there for 10 years. You can also put the money into various real estate projects around the country.

The country offers breathtaking ancient ruins (including the famous Angkor Wat temples), low cost of living, beaches, excellent health care, and all the amenities you could want in the capital city of Phnom Penh. With a large expat community, the area is also known for its warm and welcoming locals.

The downsides? “It’s a low-lying country potentially susceptible to climate change,” says Corbin, who adds that Harvey Law Group has an office in the capital, so it is particularly poised to assist those interested in relocating there.

Costa Rica

Real estate investment minimum: $150,000

Renowned for its biodiversity and commitment to environmental conservation, Costa Rica has emerged as a hot spot for eco-conscious investors and has one of the lowest minimum investments.

“The country’s stable political environment and economy, as well as its strong legal system, provide confidence to expats and retirees interested in the real estate market, whether that’s affordable eco-friendly condos, rainforest retreats, or high-end oceanfront villas,” says Scott.

The Costa Rica Residence by Investment Program allows international investors to access the country’s business-friendly landscape and vibrant cities. Second-home buyers also benefit from Costa Rica’s proximity to the U.S., favorable tax policies, and high-quality health care system.

Add in miles of surf-ready beaches, unspoiled jungles, and some of the strictest environmental laws in the world, and Costa Rica will please beach bums and businesspeople alike.