$150,000 can’t buy you a garage in California. But it can buy a luxury, beachfront home in *****.
Americans are quietly pulling their money out of the US and investing in emerging economies.
In this video, I’ll show you five countries where you can buy a home and get a second citizenship – and five bonus countries with even bigger benefits toward the end.
Starting with #5 Brazil – the country that inspired this list in the first place…
Last year, I wrote an article breaking down five countries where real estate investments don’t just get you a property; they get you residency and sometimes even a passport. But since then, more countries have sweetened the deal, and I realized this list needed an upgrade.
So we’re starting with the original five.
Country 1: Brazil
With one of the strongest passports in Latin America, Brazil has real geopolitical weight. And Brazil’s pathway is surprisingly affordable. Here’s how it works:
There are a few routes, but the most popular real estate-based option is this:
- Invest $125,000 in property in the north or northeast of the country, places like Fortaleza, Recife, or João Pessoa
- OR $185,000 in more developed regions like Rio or São Paulo
To maintain your permanent residency, you just have to spend 30 days per year in the country. But if you want Brazilian citizenship, you have to spend 6 months in the country for 4 years – but not such a bad thing if you’ve ever been to Florianapolis. If you buy a property for more than $200,000, you’re eligible for citizenship after just 3 years, not 4.
Now let’s talk property: Brazilian property prices are still wildly undervalued by international standards.
- In Rio or the megacity of São Paulo, expect $2,500-$3,500 per square meter
- But in rural areas or in rising cities like Fortaleza, you’re looking at $1,500/sqm or even less
Just keep in mind: The bureaucracy is… well, it’s Brazil. So bring patience and some help from the Freedom Files to get through the process with your sanity.
Next up: A country where your $100K investment doesn’t just get you residency, it could get your entire family a five-year visa. Let’s head to Cambodia.
Country 2: Cambodia
Cambodia doesn’t get much attention in the investment migration world, but maybe it should.
Through the My Second Home program, you can get long-term residency for yourself and your entire family by investing just $100,000 in Cambodian real estate or a local business.
Residency is valid for five years and renewable. You don’t even need to live there. If you want to skip the wait for citizenship, a donation of $250,000 or property purchase of $310,000 gets you a second passport directly.
Now, the Cambodian passport isn’t going to wow you (visa-free access to just 54 countries), but it can be useful if you plan to do business locally or live in the country.
As for real estate, Cambodia is still early on the adoption curve:
- In Phnom Penh, prices average less than $2,0000 per sqm
- In Siem Reap, even less, and tourist interest has picked back up
There’s no restriction on foreign ownership of condos, and growth can be steady. From what I’m hearing on the ground, just avoid retail real estate. Oversupply and high vacancy rates are dragging that sector down.
Next up: A small country with possibly the highest rental yields on this list.
Country 3: Georgia
Georgia (yes, the tiny former Soviet republic at the edge of Europe and Asia, not the American state) has quietly become one of the world’s most underrated places to invest in property. Invest $100,000 in real estate here, and you qualify for a temporary residency visa that’s renewable as long as you keep the property.
No physical presence is required for temporary residency. But if you want permanent residency, you’ll need to spend 9 months a year in the country for 5 years. Then you can qualify for citizenship after 5 more years of permanent residency.
Let’s talk numbers:
- Tbilisi real estate averages about $1,100 per sqm (this has shot up in since COVID – the secret is out)
- Yields are crazy high. 13%+ gross rental yields, thanks in part to the Russian expat influx and Georgia’s rising digital nomad appeal
Foreigners can buy real estate in their own name — no legal gymnastics required. And regarding taxes, Georgia is one of the most tax-friendly countries on this list.
By the way, if any of these jurisdictions catch your attention and you want help navigating your options, our Freedom Consult is built for this. You’ll find the link below.
Now to one of the cheapest, fastest paths to citizenship.
Country 4: Nicaragua
Sure, this country may currently be run by a communist totalitarian. Or you may never even have heard of it. But before you judge this place, know that 1) it doesn’t tax any foreign-sourced income, and 2) I personally have a few friends who live here and absolutely swear by it. I’m due for a trip to … Nicaragua.
Invest just $30,000 in real estate, a business, or even a forestry project in Nicaragua, and you can qualify for immediate permanent residency. Then, you can qualify for a second citizenship in just two years.
The passport? Better than you’d think of a communist dictatorship – visa-free access to 126 countries, including the EU. That’s far better than Ecuador or Belize’s passports.
Now for the real estate:
- Managua averages around $750 per sq m
- Granada (a favorite among expats) comes in even lower at $550/sqm
Nicaragua checks a lot of boxes: Low cost of living, warm weather, territorial taxation, and relatively little bureaucracy. Physical presence isn’t strictly enforced, but the Freedom Files recommends spending at least a month per year to stay compliant.
Okay, last of the first five destinations: While I’m not a huge fan of this expat favorite, this jurisdiction offers a lot – palm trees, wild biodiversity, private healthcare, and permanent residency for anyone with $150K.
Country 5: Costa Rica
Let’s talk Costa Rica — the expat darling of Central America.
Personally, I think Costa Rica is a little overhyped. The bureaucracy is quite slow, the culture is not as vibrant as its neighboring countries, and it’s one of the most costly countries in Latin America – no matter if you’re in the city, on the beach, or in the jungle. But that doesn’t mean it’s not a solid option. Costa Rica has a territorial tax system, it’s one of the safest countries in Latin America, and it has a few attractive residency routes I’ll explain in a second.
Invest $150,000 in Costa Rican real estate, and you qualify for the Investor Visa, which leads to permanent residency after three years and citizenship after seven. Or you can get a Pensionado visa and residency just by showing $1,000 a month in retirement income.
Just know you’ll need to spend at least 180 days per year in the country to keep your residency active and qualify for citizenship.
Now for the real estate:
- San José averages around $1,500 per sqm, but most Freedom Files clients invest outside of the city as it’s not what you’d really imagine of Costa Rica lifestyle.
- But housing prices in Costa Rica, especially in Guanacaste, are shooting up, as a direct result of so many foreigners moving here. In fact, housing prices rose 12% in 2022, with another 6-8% bump forecasted in 2025.
Property taxes are low (just 0.25% annually) and you can own real estate outright as a foreigner. That’s not the case everywhere.
Healthcare is private, affordable, and high-quality. Biodiversity is insane. And the pura vida lifestyle is real.
But Costa Rica isn’t a bargain bin anymore. It’s stable, yes. But also getting expensive quickly. If you’re interested in retiring or investing in Costa Rica, the Freedom Files can help. Check out our free guide below, which contains tax info, immigration paths, and FAQs.
Now let’s rapid-fire through five bonus destinations where the real estate buy-in is greater, but so are the benefits. Starting with a country where a simple $400,000 real estate investment gets you direct citizenship: Turkey.
Bonus 1: Turkey
$400,000 in real estate gets you a second passport in Turkey in 6 to 8 months. Simple enough, right? That’s dual citizenship without any language exam, boots-on-the-ground residency, or waiting period.
The Turkish passport gives you visa-free access to 110+ countries, though not the US or EU. But still, it’s useful for banking, mobility within the Middle East, and diversification. How? If you want to diversify your life and investments geopolitically, not just geographically, Turkey is a wise play with a growing economy and political role on the global stage.
Istanbul property is surging but still affordable by international standards. You must hold it for three years. Unlike other similar programs that restrict property purchases to just government-approved land or projects, your real estate acquisition in Turkey can be almost anything. Freedom Files can help you avoid mistakes.
Bonus 2: Greece
Greece has a really attractive golden visa program that’s grown in appeal significantly the last couple of years. To qualify for residency, you must purchase either €250,000 of property that you’ll renovate or convert from commercial to residential OR €400,000 on residential property in low-density areas. If you really want to shell out, you can spend €800,000 on property in major Greek cities and/or popular tourist areas like Mykonos.
You’re not required to do so while you maintain your visa, but if you plan to live in Greece, you can also apply for the 7% flat tax on foreign retirement income we covered in the video that just popped up in the top right corner of your screen.
Greek citizenship is a long shot, but it is possible. In our next bonus country where I invested a few years ago, you can qualify for citizenship with fewer barriers but an even longer timeline:
Bonus 3: Colombia
Colombia is seriously undervalued. While they eliminated their direct permanent residency by investment program, about $100,000 in real estate qualifies you for the temporary residency Investor Visa and citizenship in ten years. Medellín, where one of my bases is located, is still a hot pick among nomads, retirees, and expats alike: Really affordable property, high 10% rental yields, and a growing reputation on the global stage. If you’re curious about Colombia, check out the video linked in the top right. We covered everything you need to know about how to live here full-time.
Next up: another Latin American country close to home with dollar-based banking, territorial tax, and one of the most retiree-friendly visa systems in the world:
Bonus 4: Panama
Panama checks nearly every box: territorial tax, U.S. dollar economy, modern infrastructure, and easy residency.
With the Friendly Nations Visa, you can get permanent residency by either:
- Buying $200,000 in real estate, or
- Opening a local company and employing yourself
Healthcare is excellent and affordable, and you’ll find huge and growing expat communities in places like Panama City and Boquete.
Now finally, let’s wrap with a surprise entry to the list, and home to one of the best retirement tax deals in all of Europe.
Bonus 5: Italy
Italy’s Investor Visa gets you residency when you invest €250,000 in an Italian startup or €500,000 in funds. You don’t need to live there full-time, and it’s renewable every two years.
But the real draw is Italy’s flat tax regime for foreign retirees. Move to a qualifying small town in the charming South, and your foreign retirement and passive income are taxed at just 7% for 10 years.
If any of these ten countries jumps out at you and you think retiring there would fulfill your dreams, the Freedom Files can help. Check out our free 162-page guide on how to retire 5-10 years earlier by moving abroad. Or keep it right here and watch this video on how Americans can reduce their taxes with the help of this little-known hack for expats.
