Headline, Immigration, Travel

Portugal, Turkey, Greece remain top destinations for Indians eyeing Citizenship

Global investors are looking for alternative residence and citizenship options amid uncertainty caused by Covid-19

In the past 12 months, as the world continued to come to terms with the pandemic and its effects on all industries, an interesting new spike was witnessed in the trend of individuals trying to secure residency and citizenship rights for other countries.

Henley & Partners, a residence and citizenship investment firm with offices across the globe, saw a whopping 80 percent increase in enquiries from investors looking to diversify their domiciles.

The investors are looking at attaining newer domiciles in order to increase their investment portfolios to get a global residency option.

Read: Indians among top nations getting Portuguese visas (September 17, 2021)

It seems that the Covid -19 led to an unprecedented demand among global investors for alternative residence and citizenship options in the wake of ongoing turbulence and uncertainty caused by the pandemic.

Henley & Partners Group Head of Private Clients, Dominic Valek, points out, “Endless rounds of quarantine and lockdowns, remote work and virtual schooling, and borders snapping shut and re-opening at will, have convinced even those investors from wealthy nations with premium passports of the benefits of alternative residence or citizenship.”

“International real estate has always been a reliable asset class for global investors due to its long-term staying power,” he adds. “Real estate–linked investment migration programs have the additional advantages of enhancing your global mobility through multiple passports and expanding your personal access rights as a citizen or resident of additional jurisdictions, creating optionality in terms of where you and your family can live, work, study, retire, and invest.”

“The potential gains over the lifetime of the investment include the core value of the asset, rental yields, and global access as an ultimate hedge against both regional and global volatility,” Valek says.

The firm in partnership with another analytical firm thus launched ‘Best Migration Real Estate Index,’ a new analytical tool to assess investment migration programs offering real estate investment as a pathway to residence rights or citizenship acquisition.

As more and more Indians look at alternate options for residency and citizenship rights, immigration firms are also looking at the countries offering the best possible options and returns to these investors.

According to the new research, the Emirate of Dubai claims first place on the new index, scoring highly for rental income potential, and the price of property per square meter is lower than other major international centers.

Property acquisition by foreign nationals is galvanized by the country’s reputation for being a safe and secure environment in which to reside, attractive employment conditions, strong economy, and progressive outlook.

Spain is placed second in the overall rankings, bolstered by its economic strength, 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 top preferred destinations for Indians are Portugal, Turkey and Greece. These countries offer real estate investment pathways to residency and/or citizenship for Indians.

The Portugal Golden Residence Permit Program continues to outstrip all others in terms of the number of enquiries received for good reason.

The country’s luxury real estate market showed resilience during the pandemic, and this is expected to continue for those investors prioritizing quality of life.

Read: Italy becomes an attractive immigration destination for Indians (November 24, 2021)

With high scores for its low investment amount, salability, and crypto-friendliness, investing in real estate in this EU member state is a wise move that many global investors, particularly those from the USA, have already made.

Greece, another place preferred by Indians, is at the sixth position overall in the research. It offers Greece Golden Visa Program which gives investors a range of benefits including the opportunity to rent out investment property in one of Europe’s most popular tourist regions.

Interest in Greece’s Golden Visa Program has seen a healthy uptick over the past three years, not least due its affordable real estate investment option and the fact that no physical residence is required.

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