NEWS
Buying Property in These Latin American Countries Qualifies for Residency
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Have you ever dreamed of living in Latin America? For many remote workers and retirees, living overseas provides them with a better living cost while still having access to excellent medical care and the time to play amidst gorgeous scenery.
According to US News & World Report, the following Latin American countries allow you to become a resident in exchange for a real estate purchase:
Panama
US News & World Report reports you can qualify for Panama’s Friendly Nations residency program by making a real estate investment of at least $200,000. Under the program, homebuyers will receive a provisional residency card valid for two years, after which they can apply for permanent residency. If you have at least $500,000 to splurge on a property in Panama, you qualify for immediate permanent residency.
Colombia
According to US News & World Report, you can qualify for residency in Colombia by making a real estate investment of at least $72,000 (currently). The investment will give you a temporary M-10 residency visa for up to three years. But be careful! If you stay out of the country for longer than six consecutive months, you risk losing the visa.
Ecuador
As one of the most affordable places to qualify for a visa through property purchase, US News & World Report shares that you need to invest at least 100 times the minimum wage, which in 2022 equates to $42,500. The investment visa is good for two years, at which time you can apply for permanent residency or renew the temporary visa. Although Ecuador does impose restrictions on the amount of time temporary visa holders can stay out of the country, they will allow you to violate those restrictions if you pay a fine.
According to US News & World Report, other countries that offer residency in exchange for real estate investment include Greece, Mexico, Malta, Portugal, Spain, Montenegro, Latvia, Southern Cyprus, and Northern Cyprus.
