Portugal, Turkey and Greece remain top destinations for Indians considering citizenship
Global investors seek alternative residency and citizenship options amid uncertainty caused by Covid-19
Over the past 12 months, as the world continued to grapple with the pandemic and its effects on all industries, there has been an interesting new spike in the trend of individuals attempting to obtain residency and citizenship for other countries.
Henley & Partners, a residency and citizenship investment firm with offices around the world, has seen a whopping 80% increase in inquiries from investors looking to diversify their domiciles.
Investors are looking to reach new domiciles to increase their investment portfolios to get a global residency option.
Read: Indians among top countries get Portuguese visas (September 17, 2021)
It appears that Covid -19 has driven unprecedented demand among global investors for alternative residency and citizenship options following the ongoing turmoil and uncertainty caused by the pandemic.
Henley & Partners Group Head of Private Clients, Dominic Valek, points out: “Endless rounds of quarantine and lockdown, remote working and virtual teaching, and borders closing and reopening at will, have convinced even investors from wealthy countries with premium passports benefit from alternative residency or citizenship.
“International real estate has always been a reliable asset class for global investors due to its long-term lifespan,” he adds. “Real estate investment migration programs have the added benefits of enhancing your global mobility through multiple passports and extending your personal access rights as a citizen or resident of additional jurisdictions, creating an option about where you and your family can live, work, study, retire and invest.
“Potential gains over the life of the investment include fundamental asset value, rental yields and global access as the ultimate hedge against regional and global volatility,” says Valek.
The firm, in partnership with another analytics company, has thus launched “Best Migration Real Estate Index”, a new analytical tool to assess investment migration programs offering real estate investment as a route to residency rights. or the acquisition of citizenship.
As more Indians seek alternative options for residency and citizenship rights, immigration firms are also looking at which countries offer the best possible options and returns to these investors.
According to the new study, the emirate of Dubai claims top spot on the new index, scoring high for rental income potential, and the property price per square meter is lower than other major international centres.
The acquisition of property by foreign nationals is galvanized by the country’s reputation for being a safe and secure environment in which to reside, attractive employment conditions, a strong economy and progressive outlook.
Spain is ranked second in the overall ranking, supported by its economic power, with the highest score in the GDP parameter. One of Europe’s most sought-after property investment destinations, Spain offers a range of locations, from urban to island.
The main favorite destinations of Indians are Portugal, Turkey and Greece. These countries offer real estate investment pathways to residency and/or citizenship for Indians.
The Portugal Golden residency permit program continues to top all others in terms of the number of applications received for good reason.
The country’s luxury real estate market has shown resilience during the pandemic, and that should continue for investors who prioritize quality of life.
Read: Italy becomes an attractive immigration destination for Indians (November 24, 2021)
With high scores for its low investment amount, marketability, and crypto compatibility, investing in real estate in this EU member state is a wise move that many global investors, especially those from the US. United, have already taken.
Greece, another favorite location for Indians, ranks sixth overall in research. It offers the Greece Golden Visa program which offers investors a range of benefits including the ability to rent investment property in one of Europe’s most popular tourist regions.
Interest in Greece’s Golden Visa program has seen a surge over the past three years, particularly due to its affordable real estate investment option and the fact that no physical residence is required.