Today, Russians can obtain foreign citizenship for investing in real estate in three countries — Turkey, Montenegro and Grenada. We are talking about government programs that allow you to obtain a passport of a foreign state through the purchase of real estate. Polina Kuleshova, Head of the Public Relations Department at Henley & Partners Switzerland AG, told RBC-Real Estate about this. It is an international consulting company specializing in the development of state programs for granting citizenship and residence permits through investments.
1. Turkey
Conditions. Invest in real estate in Turkey. Under the program, it is allowed to purchase any number of objects (housing, commercial real estate, land) on the primary or secondary market.
Minimum amount. $250 thousand — for real estate. The government has already announced an increase in the minimum threshold to $400 thousand (from June 13, 2022). The property must be kept in the property for at least three years.
The deadline for obtaining a passport. Six months.
Advantages. Turkish citizenship gives the right to live in the country, open bank accounts and conduct business. Plus, it allows you to participate in some other investment programs that are inaccessible to Russians and Belarusians. For example, Turkish citizens can move to the United States on an E-2 visa.
2. Montenegro
Conditions. To invest in government—approved commercial real estate development projects (hotels) - €250 thousand in the north and €450 thousand in the south of the country.
Minimum amount. €450 thousand, of which €200 thousand are non—refundable contributions to public funds.
The deadline for obtaining a passport. Six months.
Advantages. The opportunity to live, work and do business in a stable country with a pleasant climate, which is a candidate for membership in the European Union. For citizens of Montenegro, visa-free entry to all states of the Schengen area and about 100 other destinations is already in effect.
However, the Prime Minister of Montenegro, Dritan Abazovich, during a visit to Brussels at the end of May 2022, announced the imminent closure of the program. The planned date is December 31, 2022.
3. Grenada
Conditions. Make a non—refundable contribution to the National Transformation Fund of Grenada or buy a property in an approved government project - the object can be sold in five years, keeping your passport.
Minimum amount. $220 thousand — in the case when several investors buy one object.
The deadline for obtaining a passport. Three or four months.
Advantages. Visa-free entry to 140+ countries of the world, including the countries of the Schengen area, the UK and China. The right to live, work and do business in Grenada and the CARICOM member countries. Simplification of immigration to the United States.