Buy a home or apartment in foreign country, get a second citizenship! yes..its true! Not many people would believe that there only a few handful countries, willing to give you a permanent residence permit or directly a citizenship, upon substantial investment in the development of the country such as real estate or bringing new business.
Although not all countries directly offer citizenship, for example in countries such as Latvia, the path to citizenship is getting a “permanent residence”. Once you spend about 7-10 years of residence, you are eligible to apply for citizenship.
Latvia has the cheapest real estate option to gain residence permit. You can qualify for permanent residence in Latvia upon buying a home/apartment valued EUR 150,000 in major cities (OR) EUR 72,000 outside of major cities in Latvia. Latvia since is a EU member and schengen country, getting permanent residence allows you travel visa free to all EU countries. Getting residence permit has minimum formalities and the process is much faster compared to other european countries. Once you have spent enough time usually 10yrs in latvia, you will be eligible for citizenship.
Foreigners can Property can be purchased in Czech Republic by forming a new company. The property prices ranges from EUR 100k to 200k depending on whether major city or not. Prague, Ostrava and Brno are the most popular cities in Czech Republic. Based on the property purchased say apartment, home or studio it is very easy to obtain long term residence permit as a company owner with family members.
St.Kitts & Nevis
St.Kitts has the most most popular real estate and citizenship program. You can directly get citizenship and passport upon investing a minimum of USD 350,000 a Goverment approved real estate project. St Kitts passports, since it has recently entered schengen, allows you visa free travel to Europe and over 180 countries. For more information, please see this page
Bahamas have a “economic investment program” to foreign nationals where a permanent residence is given to on the basis of minimum investment of USD 500’000, upon purchasing a residence (a home or condominim) in Bahamas. The permanent residence grants the investor right to live and work in Bahamas.
Panama has an investment scheme for foreigners where upon investing US$ 60,000 in a agriculture/reforestation project, you gain temporary residence. Permanent residency is given to individuals who invest USD 350,000 or more in real estate projects.
Important: Keep in mind that main difference between Latvia and St.Kitts is Latvia does not allow holding dual citizenship, while St.Kitts has no restrictions on dual nationalities.