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I'm a US citizen who has been an expat in Korea for 4 years. I am retiring and returning to the US soon. For years I had thought about retiring as an expat in Europe but current situations in my life and Covid issues with travel mean that I'm not currently looking into a permanent move. However living in Seoul has if anything increased my interest in living an urban lifestyle so I am starting to think about the possibility of a 2nd home (actually apartment is probably more likely).
Does anyone have any insight into countries that are particularly good or bad for owning real estate as a non-resident?
Most of the retirement and non-working visas I know require living in the country for significant portions of the year. Are there any that allow longer than 90 days but less then 6 months and still build time towards permanent residency?
Of course there are really at least three different idea. Buying property. Signing a long term lease on property so that you have a permanent home base, or slow traveling for however long the visa term is via long term AirBnB. I haven't really looked into the costs of the options of short term likely higher daily costs versus paying for time that the real estate stands empty. Note that I do not want to attempt to be an AirBnB host with real estate in some other country! Thus empty real estate is not going to be earning money.
Historically, Spain has been really lenient about foreigners buying real estate and living there. There is very likely some sort of income requirement so that you don't become a burden on their tax payers.
Most countries have their immigration requirements online, so it is easy to look it up.
Just be aware that residency requirements can be easily changed. I can remember about 20 years ago, Thailand changed their non-permanent resident requirements and it cause a lot of inconvenience to a lot of people who were living there full time without permanent resident status.
Just be aware that residency requirements can be easily changed. I can remember about 20 years ago, Thailand changed their non-permanent resident requirements and it cause a lot of inconvenience to a lot of people who were living there full time without permanent resident status.
This is very true. Malaysia recently changed some of their requirements causing trouble for expat retirees after having courted them with the Malaysia My Second Home visa for years.
Residency is the hardest hurdle. Portugal (6 consecutive months or 8 months per year) is probably the most lenient.
I'm a US citizen who has been an expat in Korea for 4 years. I am retiring and returning to the US soon. For years I had thought about retiring as an expat in Europe but current situations in my life and Covid issues with travel mean that I'm not currently looking into a permanent move. However living in Seoul has if anything increased my interest in living an urban lifestyle so I am starting to think about the possibility of a 2nd home (actually apartment is probably more likely).
Does anyone have any insight into countries that are particularly good or bad for owning real estate as a non-resident?
Most of the retirement and non-working visas I know require living in the country for significant portions of the year. Are there any that allow longer than 90 days but less then 6 months and still build time towards permanent residency?
Of course there are really at least three different idea. Buying property. Signing a long term lease on property so that you have a permanent home base, or slow traveling for however long the visa term is via long term AirBnB. I haven't really looked into the costs of the options of short term likely higher daily costs versus paying for time that the real estate stands empty. Note that I do not want to attempt to be an AirBnB host with real estate in some other country! Thus empty real estate is not going to be earning money.
You might consider the Netherlands, as they are at the peak of urban lifestyle. There is this thing called the DAFT Visa, and I think the threshold is like 4,500 Euros you have to invest in a business or some such thing. You can set up a home-based internet/website deal or some other low-effort "business."
You might consider the Netherlands, as they are at the peak of urban lifestyle. There is this thing called the DAFT Visa, and I think the threshold is like 4,500 Euros you have to invest in a business or some such thing. You can set up a home-based internet/website deal or some other low-effort "business."
I've joked about the DAFT Visa with my wife but have never really looked into it. I assumed, very possibly incorrectly, that the business side of things had to meet the IRS definitions of a business and thus would have to actually show a profit every so often. In many respects the Netherlands would be a good fit but I'm not 100% convinced I want to depend on creating a profitable business from scratch.
Now if I can do it via investing in someone else's business I would be more interested! Thanks for the reminder about DAFT - I'll try to do some more research on it.
I've joked about the DAFT Visa with my wife but have never really looked into it. I assumed, very possibly incorrectly, that the business side of things had to meet the IRS definitions of a business and thus would have to actually show a profit every so often. In many respects the Netherlands would be a good fit but I'm not 100% convinced I want to depend on creating a profitable business from scratch.
Now if I can do it via investing in someone else's business I would be more interested! Thanks for the reminder about DAFT - I'll try to do some more research on it.
I think you don't have to necessarily be profitable - and you can employ a local, even part-time, for something like a crepe stand or tech repair shop or whatever. I was thinking of moving and doing an internet based service business. 4.500 Euros isn't a big demand.
That leads to an odd thought of buying an apartment. When you are in the Netherlands you use it. When you are not in the Netherlands you rent it out on AirBnB. Then you pay someone to be the part time manager / cleaner to qualify for DAFT?
That leads to an odd thought of buying an apartment. When you are in the Netherlands you use it. When you are not in the Netherlands you rent it out on AirBnB. Then you pay someone to be the part time manager / cleaner to qualify for DAFT?
Do you mean the rental apartment itself is the business investment? I would not do airbnb. When I was an expat in Amsterdam my employer arranged a corporate apartment. All professionals in the building. Those are better. With airbnb it's anybody.
Yes, I mean using the apartment as the business investment. It wasn't really a serious suggestion. On the other hand I have a couple of friends who have had great success as AirBnB hosts even though they are half a world away from their rental so perhaps it isn't as silly as it could be.
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