Buying property in Europe can be a secure way to invest in one of the European countries, and in some countries, this investment can also lead to obtaining residency. Real estate investment in countries that grant residency to foreigners through property purchase can be an appropriate and fast way to obtain residency.
An applicant intending to invest in real estate must research which European country offers a profitable investment opportunity, in which country property prices have seen significant growth, and whether the applicant’s goal is investment along with obtaining residency, or if the investment itself is the sole priority.
Each European country has its own specific laws regarding real estate purchases and imposes certain restrictions on foreign buyers, which must be understood before taking any action.
Required documents for purchasing property in Europe
Investing in and purchasing property in European countries can be a valuable and exciting experience, yet at the same time a complex and confusing process. One of the most important and sensitive aspects of real estate investment is ensuring that the applicant has all the required documents.
Each country has its own specific requirements, and the documents an applicant needs can vary greatly. In general, having an immigration lawyer involved in the investment process is highly important, as they can advise the applicant on the necessary documents.
However, in this section, we have listed some of the common documents that you may need when purchasing property in Europe:
Power of Attorney: It is not always possible to be present at every stage of the property purchase; therefore, if personal presence is not possible, someone must be appointed as a legal representative to carry out the necessary procedures.
Passport: One of the important documents in property purchase is the passport, as it serves as proof of the applicant’s identity and nationality.
Affidavit: You may need an affidavit to prove your identity and provide evidence of your financial status.
Proof of Funds: In most cases, documents proving the availability of funds must be provided to demonstrate sufficient assets for purchasing property abroad.
Will: A will may be required to specify who will inherit the property after the applicant's death.
Asset Review: Thoroughly inspect the property to ensure that there are no hidden issues.
Title Deeds: Title deeds must be obtained from the seller or the relevant government authority, and you should verify that there are no discrepancies or issues.
Residence Permit: In countries where residency can be obtained through property purchase, you can submit your residency documents to the relevant government authority to receive a residence permit.
Advantages of Buying Property in Europe
Secure Investment in European Countries
Ability to Open Accounts in Reputable Banks
Opportunity to Study at European Universities
Access to Excellent Healthcare Services
If the chosen country grants residency through property purchase:
Permanent residency from the outset
Residency can also be granted for family members, including the spouse and children under 18 years old.
Having residency in a Schengen country can allow easy visa-free travel to other Schengen countries.
Possibility to apply for citizenship
Afshar Group will be by your side throughout all stages of purchasing a home. Contact us.