Real Estate Investor Magazine South Africa July 2018 | Page 52

RESIDENCY Top 5 Residency Programmes Where to invest in property the Global Peace Index, Portugal is the third safest country in the world. Malta JAMES BOWLING CEO of Monarch&Co, a residency and citizenship by investment facilitator. T here are several residency pro- grammes available to investors looking to invest in offshore property. This year, we saw increased interest in Residency programmes cor- responding with subdued economic confidence, albeit a stronger Rand, and renewed political angst. Cyprus Portugal’s Golden Visa programme has generated just over €4 billion in FDI and continues to be a very attractive and the most popular residency choice for those seeking a programme that leads to citizenship with minimal stay require- ments. The most attractive option for Gold- en Visa applicants is to purchase a prop- erty with a minimum value of €500,000 or €350,000 for a renovated property older than 30 years and situated in an ‘urban regeneration zone’. Monarch&- Co have packaged €350,000 invest- ments that yield rental returns of 5% to 8% per annum. It should be noted that According to Greece Portugal 50 The island nation of Malta has a rich history, with English as its official lan- guage. Alluring personal and corporate tax benefits appeal to many potential investors. Applicants are required to invest a minimum of between €320,000 and €270,000 in Maltese real estate, de- pending on where they purchase. Alter- natively, a residency applicant may rent property in Malta for a minimum of between €12,000 and €10,000 per year. As one of the sunniest and safest coun- tries in Europe, Cyprus is a great loca- tion for both EU and non-EU nationals looking for a relaxed quality of life. The Cyprus residency programme requires a minimum property investment of €300,000 and is attractive because of its quick processing time of 2 to 3 months. Unsurprisingly, this remains the least costly option, given the recent political and economic instability within Greece and its wider relationships with EU na- tions. By participating in the Greek Gold- en Visa programme, non-EU citi- zens wishing to buy a property worth €250,000 or more can obtain a five-year period of residence which is renewable indefinitely provided the investment is held. Having lived permanently in Greece for 7 consecutive years, one can apply for citizenship. Investing in overseas property is smart. Doing it without experts is not. Consult the experts. Mauritius Given the fact that Mauritius is only a four-hour flight from South Africa, South African investors find this beau- tiful island with its tranquil lifestyle and ever evolving financial business centre rather attractive. Non-Mauritian citizens are eligible for a residence permit upon the pur- chase of a property under the PDS pro- gramme with a minimum value of US $500,000. At the end of the day, investors who are looking to apply for residency via one of the programmes discussed above should first do a basic assessment of their personal needs, expectations and requirements. WHAT DOES RESIDENCY ENTAIL AND HOW DOES IT DIFFER FROM CITIZENSHIP? By achieving residency, a person may reside within a country (of which he or she is not a citizen) for a set, valid period that differs from country to country. In the case of the EU residency programmes in particular, they provide investors with the opportunity of visa-free travel throughout the 26 Schengen countries for up to 90 days in a 6 month period. JULY/AUGUST 2018 SA Real Estate Investor Magazine HURST & WILLS LONDON | CAPE TOWN Contact Hurst & Wills for independent offshore property advice today. www.hurstandwills.com | [email protected]