6 Countries Besides UAE Where Indians Can Get Residency Without Buying Property
The UAE's new nomination-based Golden Visa for Indians—which doesn’t require real estate investment—has many exploring similar opportunities worldwide. Whether you’re seeking better global mobility, long-term settlement, or a backup passport, several countries offer attractive residency and citizenship programs. Here’s a detailed look at seven options, their costs, benefits, and key considerations.
Portugal: Golden Visa (Now Without Real Estate) Portugal’s Golden Visa program was updated in 2023, eliminating real estate as a qualifying investment. Indian applicants can now secure residency by investing ₹4.5 crore (approx. €500,000) in approved venture capital funds, scientific research, or job-creating businesses. A reduced investment of ₹2.25 crore (€250,000) applies to cultural or heritage donations. This visa provides Schengen zone access and a route to Portuguese citizenship after five years, subject to meeting basic Portuguese language (A2 level) and residency conditions. However, since India does not permit dual citizenship, acquiring Portuguese nationality requires surrendering the Indian passport.
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Saudi Arabia: Premium Residency (Similar to a ‘Green Card’) As part of its Vision 2030 economic reforms, Saudi Arabia introduced a Premium Residency program, offering long-term residency without the need for a local sponsor. Indian nationals have two options: an annual renewable residency for ₹22.3 lakh (SAR 100,000) or a permanent residency for ₹1.78 crore (SAR 800,000). Residency holders gain the right to purchase property, establish businesses, and sponsor family members, making it a practical choice for professionals and investors in the Gulf region. However, the program does not lead to citizenship, and Saudi Arabia’s stringent social regulations may not appeal to everyone.
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Paraguay: One of the Most Affordable and Quickest Residency Options For Indians seeking a low-cost, fast-track residency, Paraguay is a standout option. Permanent residency can be obtained by depositing ₹4.15-5 lakh ($5,000-$6,000) in a Paraguayan bank or investing in a small local business. Approval typically takes 3-6 months. After maintaining residency for three years, applicants become eligible for Paraguayan citizenship, which grants visa-free entry to numerous South American countries. The primary limitation is the passport’s restricted global visa-free access compared to EU or Caribbean alternatives.
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Caribbean Nations: Fast-Track Citizenship by Investment Several Caribbean countries—Dominica, St. Lucia, Antigua & Barbuda, and Grenada—provide citizenship within 3-8 months through either a donation of ₹83 lakh ($100,000) or higher or a real estate investment of ₹1.66 crore ($200,000) or more. These passports enable visa-free travel to the UK and Schengen area. Grenada is particularly advantageous as it qualifies for the US E-2 investor visa, facilitating business ventures in the United States. It is important to note that these programs do not confer residency rights in the EU or US, only travel privileges.
Vietnam: New 10-Year Golden Visa Program Vietnam recently introduced a Golden Visa scheme, offering residency based on investment levels: ₹1 crore ($120,000) for a 3-5 year visa or ₹33 crore ($4 million) for a 10-year visa with a permanent residency pathway. Successful applicants can reside, work, and operate businesses in Vietnam. After five years, they may apply for citizenship, but must relinquish their Indian passport since Vietnam does not recognize dual nationality.
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Hungary: Guest Investor Residency (Schengen Access) Hungary’s Guest Investor Residency Program offers a 10-year renewable residency for investments of ₹2.25 crore (€250,000) in a real estate fund or ₹9 crore (€1 million) as a public trust donation. This visa allows Schengen zone access and provides a route to permanent residency in three years and citizenship after eight years. However, processing has been sluggish, with fewer than 30 approvals in the first six months of operation.
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