These countries will give you citizenship if you buy property

Some countries offer South Africans residency or citizenship through investment meaning that they must invest in the country through buying property. Here is a list of five such countries, including some advantages and disadvantages of living there.

CITIZENSHIP THROUGH INVESTMENT

Citizenship through investment programmes vary. Some countries require that you invest in businesses or the government to gain citizenship. There are a few countries, however, that offer South Africans citizenship or residency through property investment.

It is important that you do proper research before deciding on a particular option as there are many terms and conditions. Make sure you know what exactly you will be getting in terms of residency versus citizenship. Furthermore, a work permit is not always included, so if your plan is to work in the country, make sure you are aware of any additional requirements if applicable.

1. INVESTMENT IN GREECE

A residency visa through investment for Greece requires a minimum property investment of €250,000 (R5.18 million). You can renew the visa that is valid for five years, every five years. After living in Greece for seven years, you can apply for citizenship. Note that if you want to work there, you will need a separate work permit, according to IOL.

Advantage: Affordable healthcare
Disadvantage: Crowded tourist sites

2. GRENADA

Grenada in the Caribbean offers citizenship through investment within three to four months in exchange for a property investment of minimum $220,000 (R4.2 million). There is no minimum stay requirement.

Advantage: Tropical and sunny climate
Disadvantage: Hurricanes are possible

3. ANTIGUA AND BARBUDA

Also located in the Caribbean, are Antigua and Barbuda offering citizenship to South Africans if they invest a minimum of $200,000 (R3.8 million) in property.

Advantage: Relatively low cost of living
Disadvantage: Limited job opportunities

4. MAURITIUS

Mauritius’ residence program allows South Africans to make a real estate investment and apply for a residence permit. Successful applicants and their families are granted full residence rights including the right to live, work, and retire in Mauritius, according to Henley and Partners. The minimum property investment amount is $375,000 (R7.1 million).

Advantage: Good quality of life
Disadvantage: Prone to cyclones

5. CITIZENSHIP THROUGH INVESTMENT IN DUBAI

Another one of the countries that give citizenship to investors, is Dubai. The minimum property value required for obtaining a five-to-ten-year visa for Dubai through real estate investment, is AED 2 million (R10.4 million). It is worth noting that this visa is a long-term residency and not a permanent residency.

Advantage: Good education
Disadvantage: Intense heat in the summer

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