Have you thought about your Plan B? If you haven’t, the best time to do that is now as the world is becoming a more dangerous place that exposes you to numerous risks. There are a lot of opportunities to obtain a second passport (or at least a residence permit) to make sure that you will relocate as a legal resident, not as a refugee, and we strongly recommend that you consider them. If you want to know more about the economic citizenship programs that allow visiting foreign countries without a visa, click on the link to explore a trusted portal that provides reliable practical information on the matter.
Where to Start?
The stories of buying real estate in another country usually start by having a short rest in it. You come to the place along with your family and you are all fascinated by stunning nature, good weather, and the local color. You later come again and start wondering whether you can buy a house for yourself in this Shangri La to have everything according to your tastes. In the end, you find an accommodation that seems perfect and buy it.
You can use the house for vacation, thus saving a considerable amount on the rent. However, the accommodation can become your source of passive income as well as you will rent it out while you are away. The whole thing may be delegated to a management company.
What is more important, you will have the comforting thought that you have a place to quickly relocate to if some adverse events occur in the place where you live. How much will you pay for peace of mind? People tend to agree at some point in their lives that it costs more than financial well-being.
You are in no way obliged to radically change your life and relocate right away – all you need is a Plan B. This is no longer a whim but a necessity as the events of the past few years showed that the world has become a much less safe and stable place. However, you are free to decide one day that you like the new home too much and you want to live there from now on. In this case, it will be more convenient to become a legal resident of the country where you have real estate. Luckily, there are a lot of states that easily issue a residence permit to real estate holders. Some of them also offer citizenship-by-investment programs that you can take advantage of to get a local passport.
Foreign Citizenship or Legal Residence
There are countries that you can visit without a visa and stay there for a month or two without infringing any local laws. In other cases, you may need to get a tourist visa that will be valid for a few months.
However, things become different when you get a residence permit or even a passport from a foreign country as these documents will give you an opportunity to stay in the country for as long as you want to in case of some adverse circumstances.
A tourist can be requested to leave the country, but a resident or a citizen cannot. Being a legal resident also solves a number of problems and gives certain opportunities, like receiving a driver’s license, purchasing a car, opening a bank account, and so on.
Obtaining a residence permit or citizenship is not always easy, but there are a lot of opportunities that are worth considering. Some countries even try to attract foreign investors by offering really advantageous terms. In particular, there are a lot of countries where you can buy real estate and thus become eligible for a residence permit or a passport.
Foreigner-Friendly Countries
EU authorities are against citizenship-by-investment programs. Nevertheless, some EU members still offer economic citizenship or residency programs: if you invest in Italian, Spanish, Portuguese, Greek, or Maltese economies, you will be able to obtain a long-term visa and later a passport of these countries. They set different citizenship acquisition timeframes and required investment amounts.
If you want to find a country that gives an easy track to its citizenship, look for the one in the Caribbean region. They set a standard requirement of making a donation to the state fund, and your passport will be granted to you in a matter of several months on the condition that you successfully pass all the due diligence procedures. There is an alternative: you can buy a piece of real estate in these destinations to become eligible for citizenship. If you have always dreamed of having a place to live in a tropical paradise, this would be an ideal solution.
You can also acquire a Panamanian residence permit if you buy real estate that costs about USD 300,000. The price per square meter ranges between 1,000 and 2,000 US dollars, so you can buy quite a lot of space for that money. You can opt for Paraguay, Uruguay, or Mexico – and in this case, you are not even required to invest in real estate. All you have is to provide some kind of evidence that you are solvent.
These are just several examples of economic citizenship and residence opportunities. You can click on the above link to take a more detailed look at each of them. The choice of the right program depends on your aims and the amount you are prepared to invest.
The world is not very small, and possibilities are numerous. You can relocate to a country with a warm climate if you have always dreamed about it – just take a good look at Eastern Asia or Latin America. You can buy accommodation in Costa del Sol to become eligible for a Spanish residence permit. Are you fascinated by the landscapes of New Zealand? You can buy a farm there and acquire the right to legal residency.
Don’t Delay Your Decision
There are many things that could ruin our lives, like unfair taxation systems, military conflicts, or incompetent politicians. The best way to deal with those risks is diversification. You should think about relocation possibilities in advance as the last-minute arrangements may fail. Click on the above link to get more practical information or talk to an expert (it’s free!).
