European Residency application assistanceNon-European residence seeking a quick and hassle-free route to EU residency now have the opportunity to acquire Schengen residency through investment in real estate.We provide a full cycle service to our clients.We assist you in every step of the way from the point shortlisting real estate investment, opportunities ,negotiations ,finalization of property purchase and obtainment of residency permits that include subsequent family members under the age of 21.
You can rest in ease knowing that our team of experts will do their best in order to ensure a hassle free and cost effective solution that suits your need.
Greece is offering super-speedy residency applications to anyone who buys a property over €250,000.
The scheme has clear attractions. Residency permits act as a form of visa to all the Schengen Area's 26 countries (Austria, Belgium, France, Germany, Denmark, Greece, Estonia, Spain, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Hungary, Poland, Portugal, Slovakia, Slovenia, Sweden, Czech Republic, Finland), including all of Western Europe except the UK. The permits require only token residency in the country where the property is located, meaning that buyers can use it as a springboard to live (but not work-that requires another permit) elsewhere in Europe.
While in Greece properties are not as rock bottom as tales of the crisis might suggest, paying out around €250,000 can get you an excellent house.
Our company can assist you on the procedure of obtaining the Residence Permit.
Property Purchase Expenses Greece
A variety of fees are payable when you buy a property in Greece, which usually adds between 10 and 15 per cent to the price.
The fees payable when buying a property in europe may include the following:
- Purchase or transfer tax; Purchase tax is charged at 3,09% of the property price.
- Value Added Tax (new constructions only); New constructions with a building license issued from January 2005 are subject to VAT at the rate of 24 per cent.
- Land registry fees; Land registry fees include registrar’s rights, certificates, and stamp duty. They are calculated at 0.475-0,575 % of the sale price in the contract, plus 24 % VAT.
- Notaries fees; The fees for the notary, who draws up the final purchase contract and officiates the sale, are usually between 1 and 2 percent of a property’s ‘assessed tax value
- Lawyer’s fees; Legal fees for the conveyancing involved in a sale are up to 1 per cent of the ‘assessed tax value’. The actual fee depends on the value of the property
- Selling agent's fees; Estate agent's fees (generally between 2 and 5 percent of the purchase price) are usually paid by both parties, with the vendor and buyer paying half each
Portugal Golden Visa Program
The golden visa in Portugal is designed to encourage investment from non-EU/EFTA nationals. The Portuguese golden visa offers a fast-track to obtaining a residency permit in Portugal, alongside other benefits, for non-EU investors who invest a minimum amount as defined by law. Since the launch of the golden visa programmer's in 2012, more than 4,200 Portuguese golden visas have been given out, representing more than EUR 2.5 billion investment in the country.
Any non-EU/EFTA national can apply for apply for a golden visa in Portugal, or Portuguese investor visa, provided they make a purchase of real estate property in Portugal worth at least EUR 500,000
RESIDENCE PERMIT FOR INVESTEMENT PURPOSES
- Capital transfer with a value equal to or above 1 million Euros;
- The creation of, at least, 10 job positions
- The purchase of real estate with a value equal to or above 500 thousands euros.
- The purchase of real estate property, with construction dating back more than 30 years or located in urban regeneration areas ,for refurbishing, for a total value equal to or above 350 thousands euros;
- Capital transfer with a value equal or above 350 thousand euros for investing in research activities conducted by public or private scientific research institutions involved in the national scientific or technologic systems;
- Capital transfer with a value equal to or above 250 thousand Euros for investment in artistic output or supporting the arts, for reconstruction or refurbishment of the national heritage, though the local and central authorities, public institutions, public corporate sector, public foundations, private foundations of public interest, networked local authorities, local corporate sector organizations, local associations and public cultural associations, pursuing activities of artistic output, and reconstruction or maintenance of the national heritage;
- Capital transfer of the amount of 350 thousand Euros, or higher for the acquisition of units of investment funds or venture capital fund of funds dedicated to the capitalization of companies, capital injected under the Portuguese legislation, whose maturity, at the moment of the investment, is, at least, of five years and, at least 60% of the investments is realized in commercial companies with head office in national territory;
- Capital transfer of the amount of 350 thousand Euros, or higher, for constitution of a commercial society with head office in the national territory, combined with the creation of five permanent working jobs, of the reinforcement of the share capital of a commercial society with head office in national territory, already existing, with the creation or keeping of working jobs, with a minimum of five permanent jobs, and of a minimum period of three years.
Holders of a Portuguese golden visa are given a temporary residence permit in Portugal for one year, which is renewable for two-year periods. After five years, holders of Portuguese golden visa, can apply for a permanent residence permit in Portugal, while after six years they can apply for Portuguese citizenship by investment, if all other legal requirements are met.
Those who hold a Portuguese golden visa are entitled to:
- live and work in Portugal, provided they reside in Portugal for a minimum of seven days in the first year of residence and 14 days in each subsequent year.
- visa-free entry to Schengen area countries.
- family reunion, meaning certain family members can also get Portuguese residency.
- access Portuguese healthcare and education.
- freely invest in Portuguese property.
Property Purchase Expenses In portugal
Property purchase in Portugal contain certain buying costs. They vary based on the price of the property and sometimes the type of development. We provide below an outline of these costs and what they cover.
Legal fees: 1% - 2% paid by Buyer
Notary & registration fees: 1% - 2% paid by Buyer
Municipal Tax: 0 - 6% paid by Buyer
Stamp duty :0.4% - 0.8% paid by Buyer
Property agent fees: 3% - 6% (+23% VAT) paid by Seller
Golden Visa Spain
The Spanish Golden Visa program offers a real estate investment route to gaining residency in Spain. The program in Spain has been in operation since 2013. The golden visa program in Spain is flexible in terms of the family options it offers Qualifying family members include spouse and all children under 18. Children 18 and over and parents can qualify if dependent.
An investment of €500,000 is required in real estate in Spain. The property, either residential or commercial, can be rented for income. Any number of properties can combine to make up the €500,000 minimum investment.
The applicant needs to have committed to the investment prior to applying for the visa. An application can be made once a contract for sale has been signed and prior to completion of the sale at the notary. However the funds must be ready for investment in a bank account in Spain. The application for the residency visa then takes just 10 – 15 days. It is issued for two years, if applied for in Spain, and can then be renewed for a further five years provided the investment is maintained.
In addition to the real estate investment applicants will need a clear criminal record, medical insurance and sufficient economic means to cover any stay in Spain. Also applicants must not have previously been refused visas or entry into the Schengen zone. Applicants satisfying such criteria are granted the Residency.
Lawyer fees will apply for the processing of the golden visa for the applicant and family. Such fees will vary depending on family makeup and situation.
Legal Fees: Varies between 1% to 1.5%
Notary Fee: Varies between 0.05% to 1%
ITP/Transfer Tax: 7% (may vary depending on autonomous region)
Land Registry Fees: 1%
VAT (IVA): 10% or 4.5% (if property is in Canary islands)
Citizenship and Passport
Permanent Residency can be obtained after five years, provided the applicant has lived in the country for more than six months each year. Citizenship in Spain can be applied for after 10 years. However applicants will need to have been resident throughout that period in order to gain citizenship and a Spanish passport. Once applicants have either permanent residency or citizenship then they are free to dispose of their investment as further golden visa renewals are not necessary.
Golden Visa Turkey
The Regulation Regarding Application of Turkish Citizenship Code has now been amended. In line with the recent amendments, foreigners will be able to obtain Turkish Citizenship (TC) for themselves and their families Via a property (real estate) investment of $250k USD. This amount has been reduced from $1m to $250k USD (or the equal value in Turkish Lira) on the condition to not sell the invested property within the next 3 years.
How long does it take to obtain Turkish Residency?
It usually takes around 3-6 months to obtain TC and Turkish Passports for you and for your family members provided that all the documentation is ready, once after the investment is made and post-investment work are duly done and these would be diligently followed up.
Benefits of Turkey Second Citizenship Program & Turkish Passport at a glance:
- Full citizenship granted following background check plus Turkish Citizenship and Passport delivered in 3-6 months.
- You can both have a solid investment with regular income and at the same time you can obtain one of the most sought citizenships in ME
- Visa Free Travel for 148 countries
- No Minimum Residency Required
- Ownership of one of the Top 30 Passports in the World
- Turkish passport has 10 year validity and is renewable for life
- Turkish Identity Card Included
- Full Medical Assistance Included
- Pension Programs Included
- Free Education and University Reimbursement Plans are provided
- Future Access without visa to EU, 26 Schengen Zone Countries
Property Purchase Expenses in Turkey
The registration tax – when buying a property in Turkey – is 4%
The costs for the registration of the title deed and drafting the Tapu; like fees for the translator and the notary ratification of the translation, passport photos, power of attorney and the like. These expenses amount in total not to more than 600 to 700 Turkish lira (200 Euro or USD) usually.
Annual property tax
Aidat The annual property tax of your villa or apartment in Turkey is between 0.3% and 0.4% Maintenance and common costs (Aidat) for the residence in which your property is located: this amount varies between 40 and 250 Turkish lira per month.
The DASK insurance contribution is calculated on the value of the property that the fixed costs are limited – is this a marginal cost; approximately between 70 and 300 Turkish lira (25 to 100 Euro) per year.
The annual fixed costs
Depending on the value of your home and what is covered by the insurance, the price of those will vary between 200 and 2000 Turkish lira (60 to 600 Euro) a year.
- One of the best climates in the World throughout the year
- Eurasian country with a hospitable and welcoming manner to foreigners
- Fantastic natural environment Excellent food and rich cuisine Superb Health Facilities (better health services than US and EU)
- Superb Educational Facilities
- High Quality of Life