Passport through real estate

26.10.2010 06:03
Tired of the harsh climate, the characteristics of the national economy and the eternal unpredictability? Think about how to buy property abroad and settle there? Want to move freely around the world? What opportunities give you your money?<br /><strong><br />Passport through real estate</strong><br />Some Russian property buyers often are in the happy belief that once they become owners of villas in France or a house in Italy - and the latter-day owners immediately begin to accept with open arms. Alas, the reality is much more severe. In most countries, the fact of home ownership gives foreigners more than six-month multivisa. However, there are exceptions. Is the light of the State whose nationality can be obtained by investment in the economy - including through the acquisition of real estate.<br /><strong><br />Bulgaria: The permanent residence for half a million euros</strong><br />The door for foreigners wishing to buy not just real estate, and the right to permanent residence, Bulgaria opened only last year - obviously wanting to patch the hole crisis. In 2009, amendments to the Law on chuzhdentsah "under which a permanent residence in Bulgaria can be invested in the country's economy 1 million leva (about € 500 thousand). Five years later, then you can apply for Bulgarian citizenship. But residence is completely gives many rights: to travel around Europe without a visa, to teach their children to any schools EU, work, organize a business, etc.<br />The Bulgarian law defines a mechanism for such investment - by buying shares of companies traded on the Bulgarian Stock Exchange. In principle, the investor may choose any of the paper industry. However, be realistic: the Bulgarian economy today is not the most stable, and investment in its associated risks. In this sense, investments in real estate - not the worst choice. Such an opportunity - real estate investment with the possibility of obtaining permanent residency - offers, for example, MSI, which in Russia is IntermarkSavills. The scheme is as follows: an investor buys shares of a public company (MSI) in the amount required by law, and these securities are invested in real estate. The investor becomes the owner of luxury apartments in Bulgaria, and opens a path to permanent residency. Indirect way of ownership does not detract from the rights owner. As in the direct possession, he may dispose of real estate on your own: sell, demise, lease, etc. As an added bonus, the management company enters into a contract guaranteed annuity for five years with a yield of 5%. Project manager in Russia Peter Kovalenko emphasizes that MSI - the first developer in Bulgaria, which has implemented a similar scheme.<br />As an investment company now offers a 3-4-star apartments in Bansko and 5-star spa hotel located 300 meters from the golf course and 4 km from the ski lift. Due to such positioning can take the property almost year round. An investor can choose any other object - not below a specified law of value. According to Director of the Department of Residential Property Chesterton Ekaterina Thain, you need only to warn that the property is acquired for citizenship - then the purchase will be framed as an investment.<br />The main advantage of this way - the person who received a residence permit is not required to be in Bulgaria, a certain amount of days per year. The main drawback - an impressive sum, and a limited selection of objects for investment. "This option is for those who are most likely already own property abroad. This time, he just buys a permanent residence, and - in addition - a small but steady income "- says Peter Kovalenko.<br />However, other experts, the investment attractiveness of such a proposal in doubt. "The customer buys a stake in the Bulgarian real estate developer, which are traded on the exchange. But the value of the shares of a public company can not only grow, but fall - like the president of the international real estate agency Gordon Rock Stanislav Singel. - Bulgarian Property overvalued, the market is overstocked, and many construction projects are deferred. The country has not formed a sufficient domestic demand for real estate, especially in the ski and resort being built in the hope of economic growth and external demand. Why real estate is sold today with a substantial discount, and investing in stocks of Bulgarian real estate developers - an event risk. "<br />Stanislav Singel recalls Russian experience: in 2008-2009, stock prices of several leading Russian developers fell by 90-95% compared to the cost of their initial placement. Who can say that the market shares of the Bulgarian developers are immune from such problems? In addition, investors may have a problem with output from the project. "In the proposed scheme, a buyer for five years can not manage their investments. But most importantly, the buyer has no assurance of liquidity (the ability to sell) its shares. Only one option - to offer the shares on the open market, and then as luck "- experts warn.<br /><em> </em><br />
Content tags: Overseas property
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