3 interesting materials about profitable real estate and relocation
ARAVANA Multifamily Office experts will talk about the geographical and economic features of Montenegro, Turkey and Cyprus. You will also learn how to obtain citizenship in these countries and what advantages will open up for the investor. Content:
- Montenegro: why do you need to invest now?
- Why is Bodrum the European capital of Turkey?
- How to get permanent residence in Cyprus in 2022?
Montenegro: why do you need to invest now?
Montenegro has extended the citizenship by investment program until the end of 2022 and continues to accept applications from Russians. Montenegro is one of the most promising countries for real estate investments. At the moment, citizenship of the country can be obtained for investments in state-approved projects in the amount of €450,000. The current program for obtaining citizenship of Montenegro has been extended until the end of 2022. Why Montenegro? Montenegro is a small country of the Balkan peninsula, on the territory of which live a little more than 600 thousand inhabitants. The country has access to the Adriatic Sea and many clean beaches with high-quality infrastructure.
Another important feature of Montenegro’s location is that the country is literally in the middle of Europe. You can reach all European capitals from Montenegro by plane in less than 3 hours. In addition, like many countries of the former Yugoslavia, Montenegro is a very young country: the independence of the state was proclaimed only in 2006. Montenegro’s accession to the EU is planned in 2025, while the euro is the official currency of the country already now.
Entry opportunities are another pleasant feature of the Balkan state. Montenegro maintains a visa-free regime with 121 countries of the world, including Russia. As for doing business in Montenegro, it is worth highlighting two important features for an investor:
- Firstly, Montenegro has the lowest tax on capital income in Europe – only 9%.
- Secondly, even after obtaining a residence permit or citizenship, you are not considered a taxpayer until you are in the country for more than 182 days a year.
How and why to invest in real estate in Montenegro? The main advantages of investing in real estate in Montenegro include:
- No restrictions on foreign ownership;
- No stamp duty;
- Refund of 21% VAT in case of purchase of a real estate object for the company;
- 0.56% annual property tax and 3% tax in case of resale of real estate;
- The OECD Common Reporting Standard does not apply in the country;
- Additional security and confidentiality for bank account holders is guaranteed.
There is a minimum investment amount for obtaining citizenship. In the north of the country, it is necessary to invest from €250,000 in state-approved projects (+€100,000 subsidies to the state and +€100,000 subsidies to innovation funds), and in the south the minimum amount is €450,000 (+€100,000 subsidies to the state and +€100,000 subsidies to innovation funds).
What is the reason for such a difference between north and south? The fact is that the south of the country is bordered by the Adriatic Sea and is a popular resort center with a developed infrastructure. However, the coast of the country occupies only 295 kilometers, that is, the possibilities of development in the south are very limited. There is also a law in Montenegro that restricts development in order to preserve landscape diversity. In addition, it is in the south that the largest cities of Podgorica, Niksic and Budva are located, therefore, most of the population lives in this region. At this time, the north of the country is populated and built up not as densely as the south. However, it also has a huge potential — there are more than 40 mountains located there. Ski resorts are already actively developing in Montenegro, which makes the country a universal tourist center: in summer — the sea in the south, in winter — the mountains in the north.
What are the advantages of citizenship of Montenegro? Among the main advantages of citizenship of Montenegro, it is worth noting:
- Visa-free regime with the countries of the Schengen Agreement, as well as the CIS countries, Bulgaria, Cyprus, Romania, Turkey (121 countries);
- EU passport if Montenegro’s accepted to the EU in 2025;
- Investments with returns and favorable taxation regime;
- Access to an E-2 visa (USA);
- In addition to the investor, the spouse and financially dependent children can obtain citizenship of Montenegro;
- The terms of consideration of applications are 4-6 months.
The investor does not need to know the official language of the country and it is not necessary to come to the territory of Montenegro before obtaining a passport.
Why is Bodrum the European capital of Turkey?
Bodrum is a district and city in southwestern Turkey, located about 300 km west of Antalya. It is called “little Greece” and the most elite resort on the Aegean Sea — the peninsula attracts fans of the European lifestyle. In recent years, Bodrum has become a popular destination for moving — we will tell you why. Natural features. Olive groves, mountainous terrain, cypress and pine forests, as well as the coast, cut by elegant coves — the eclectic nature of the region makes it unique.
The compactness of the peninsula. Unlike Antalya province, the dimensions of Bodrum allow you to quickly reach even the most remote points. The city itself consists of two parts — the eastern one, where restaurants and clubs are concentrated, and the more elite western one — where more expensive places are located. Transport infrastructure. Over the past ten years, the transport and communication infrastructure of Bodrum has been actively developing — now its level is higher than in many European resort cities. There is an international airport operating near Bodrum.
Developed healthcare. Experts consider Turkey to be one of the most promising areas of medical tourism. Healthcare institutions in Bodrum offer a variety of services — hospitals are equipped with the most modern equipment.
How to get permanent residence in Cyprus in 2022?
Cyprus has sandy beaches, 350 sunny days a year, a mild climate, comfortable conditions for doing business and investment—attractive real estate. These factors make the Mediterranean island so popular not only for tourism, but also for permanent residence.
You can get permanent residence in Cyprus in 2022 for an investment of €300,000. This can be either the purchase of new construction real estate from developers or non-residential facilities, or the acquisition of shares in Cypriot companies or investment funds.
Advantages of permanent residence in Cyprus
- The possibility of permanent residence in Cyprus without restrictions;
- The possibility of applying for citizenship after 7 years of continuous residence in Cyprus;
- Waiting for Cyprus to join the Schengen area;
- Organization of the entire process remotely.
The list of services of ARAVANA Multifamily Office also includes customer support on all issues related to foreign real estate, such as: search and organization of financing for the purchase of real estate, real estate management, financial and tax planning in the field of ownership, purchase, sale and inheritance of real estate. Learn more about immigration programs and profitable foreign real estate, leave a request — our specialists will always be happy to answer your questions.