The underlying principle is easy enough: a government grants the right to live there to non-citizens who invest a set amount in local real estate. The threshold differs greatly between countries, and legislators adjust it with limited notice.
One key point divides residence and a passport. Residency gives you the right to live in the country, generally on a renewable basis, but full nationality normally requires years of actual residence. Any offer of citizenship in exchange for a buy property in split-dalmatia deal is a red flag.
Past the headline threshold, these schemes carry extra obligations. Typical examples involve proof of no criminal record, medical insurance, proof of income and a minimum stay in the country each year. Ignoring any of these can jeopardise the residency even if the la mata property for sale is still yours.
Fiscal residency remains an entirely separate matter. Having residency does not by itself make you liable for local income tax, but living there for most of the year often does. Most jurisdictions apply a day-count rule, and the implications extend to income earned elsewhere.
The realistic approach is essentially the same everywhere: pick a property you would want anyway, and let the permit be the second reason. Programmes close from time to time, and a property chosen only for a permit can be a poor asset once the rules change.
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