In such times when your financial future remains ever unpredictable, an investment gives you much-needed peace of mind. Are you a U.S. citizen looking to invest abroad? Here are six countries where U.S. citizens can buy property:
Anguilla is a tiny island in the Caribbean. This location stands out because of its delicious food, tasty rum, crisp waters, and colorful culture.
U.S. citizens who want to invest in Anguilla can buy up to half an acre of land. The land laws require one to build an external floor area of 2000 sq. ft. The construction must be complete within 18 months after receiving the Alien Landholding License.
As an independent commonwealth country, Barbados is in the sights of many U.S. citizens seeking to invest abroad. What makes this location attractive to investors is its beautiful warm weather, thriving tourism culture, and distance from the U.S. A flight from New York to Barbados takes about five hours.
Tourism is the leading revenue earner for Barbados. The locals are welcoming and ever-ready to socialize.
To buy real estate in Barbados, non-residents must seek permission from the Caribbean Country’s Central Bank. Should you skip this step, your purchase is rendered null and void.
The Bermuda currency is directly tied to the U.S. dollar. This explains why you can use the U.S. dollar in Bermuda without issues.
Bermuda is a distinct tourist destination with the most attractive beaches, beautiful culture, and modern infrastructure. Thousands of tourists visit this paradise island every year.
There are plenty of U.S. citizens already living in Bermuda. Bermuda is a high potential location for investors to avoid lengthy processes in their quest to purchase property here.
The Cayman Brac, Little Cayman, and Grand Cayman make up the Cayman Isles. It has a paltry 55,000 people and is the closest Caribbean location to the United States.
If you are a U.S. citizen purchasing property in the Cayman Isles for personal use, you will have a smooth, stress-free process during the transaction. However, if you want to buy a commercial property, you may become frustrated. The process is lengthy, and there are numerous requirements you must present to the relevant authorities before successfully buying a commercial property.
A good fraction of Americans and Canadians visit Mexico either as tourists or as permanent residents after retirement. Mexico’s growth rate has been constant as more U.S. citizens seek to invest in local tourism.
The laws of Mexico prevent foreigners from purchasing properties less than 31 miles from the coast. Also, you cannot buy real estate if the property you want is 62 miles or a shorter distance away from the international border. However, should you seek to buy any property via the Mexican Corporation or the Mexican Land Trust, these rules don’t apply.
Located north of the Dominican Republic, Turks and Caicos is an excellent place to purchase a property. The pristine beaches, warm climate, ocean views, and unchartered territories make this land ideal for U.S. citizens who want to change their scenery. It’s also ideal for people planning to set up hotels and beachside villas to offer accommodation for visiting tourists.
Turks and Caicos have banks that do not mind lending to non-residents. Investing in property, especially in more developed areas like Providenciales Island, sets you up for future success. The island of Providenciales features infrastructure, accommodations, stores, and utilities that show its exponential potential to grow.
Real estate prices here differ depending on the location of the property you want to buy. The less developed and further away the property is from the main island, the cheaper it likely is.
Can Buy Property
|Antigua and Barbuda||Yes|
|Bangladesh||Condition Required||Freigners are only allowed to purchase flats for residential purposes, and they must obtain approval from the Bangladesh Board of Investment. In addition, the property must be located in an approved area, and the purchase price must be paid in full in foreign currency|
|Canada||No||On December 2, 2022, the Privy Council passed an Order in Council confirming regulations related to the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act). The Prohibition on the Purchase of Residential Property by Non-Canadians Regulations (the Regulation) was published on December 21, 2022, in the Canada Gazette. The Regulation came into force on January 1, 2023, along with the Act. The Act prohibits "non-Canadians" from purchasing any residential property directly or indirectly from January 1, 2023, to December 31, 2024|
|China||Condition Required||According to the Chinese Property Law, foreigners cannot buy land in China, as the land belongs to the state. Even if some limitations exist, foreigners who work in China or want to relocate here can purchase a property according to their needs and budget|
|Cyprus||Condition Required||Non-EU and EEA citizens who want to buy property in Cyprus will need official permission from the Council of Ministers of the country. It is usually readily granted for the purchase of a house or plot of land not exceeding 4014 square meters.|
|Denmark||Condition Required||A foreigner may buy property in Denmark only for their main place of residence or business. Conditions. But only if he meets one of the requirements: 1. The Person has previously lived in Denmark for at least five years; 2. The Person is a citizen of the EU and works in Denmark; 3. The Person is a citizen of a non-EU country with a valid permit to stay or do business.|
|Estonia||No||Aliens are not allowed to buy property in the border areas. Conditions. Only citizens of Estonia, the EU, and the EEA, as well as legal persons, can do it, and only with the permission of the government.|
|Finland||Condition Required||Buyers of real estate in Finland from outside the European Union and the European Economic Area (EEA) must obtain a purchase permit from the Ministry of Defense of this country. It will not be needed if the apartment is owned by a housing company. Restrictions. Foreigners are not allowed to buy property in Åland. This is only possible with the right of residence in Åland, to which only the children of the original inhabitants of the archipelago and Finnish citizens may apply.|
|Greece||Condition Required||Foreigners who are not citizens of the EU and the EEA (European Economic Area) are not allowed to buy real estate in Greece near military bases and national boundaries, in particular in some regions of Northern Greece, Crete and Rhodes, the East Aegean Islands, and the Dodecanese Archipelago.|
|Hungary||Condition Required||Foreigners are required to obtain permission from the local authorities to purchase the property. It is not required if the purchase is made by the company, i.e., a legal entity.|
|Iran||Permit Required||Within the framework of the law and bylaws of aliens’ proprietorship, ownership of land within the confines of personal use is allowed for foreign natural persons. Establishing the ownership [however] requires acquiring special permit from the Ministry of Foreign Affairs.|
|Lithuania||Yes||Foreigners can acquire all types of real estate in Lithuania, except agricultural and forest land|
|Malta||Condition Required||To buy property in Malta, a foreigner must: Obtain official permission from the authorities—Acquisition of Immovable Property Act (AIP Permit). An AIP permit is required to buy property in any area except Special Designated Areas. EU citizens who have lived on the island for the past five years, as well as their spouses who do not have European citizenship, will not need a permit, and these benefits also apply to EU citizens who acquire real estate for business or services. Acquire an object worth more than a certain minimum set by the National Bureau of Statistics (€136.9 thousand for apartments and €236.5 for other objects). This amount is often revised.|
|Myanmar||Prohibited||As a general rule, the TIPRA restricts foreigners from owning real property in Myanmar.|
|New Zealand||No||Overseas people usually cannot buy a house or land in New Zealand. If you have a residence class visa but you are not yet 'ordinarily resident', you can buy or build one home to live in as long as you get consent from the Overseas Investment Office before you buy. You can apply for pre-approval that lasts up to a year.|
|North Korea||Prohibited||It is illegal in North Korea to buy, sell and rent out houses|
|Poland||Permit Required||Foreigners are allowed to buy properties in Poland. EU companies and citizens are unrestricted. While other nationals and corporations may be required to obtain permit from Ministry of Internal Affairs. Purchase of apartment predominantly does not require a permit.|
|Saint Kitts and Nevis||Yes|
|Serbia||No||Acquisition of real estate in Serbia is not only possible for foreign individuals, but also for foreign legal entities.|
|Singapore||Condition Required||Foreigners can buy property in Singapore, but with certain restrictions. Only Singapore nationals and permanent residents can avail of the subsidized housing by the Housing & Development Board (HBD).|
|Slovenia||Yes||With Slovenia being in the European Union since 2004, EU and USA citizens, as well as citizens of all OECD countries may now buy property in Slovenia without any restrictions.|
|South Korea||Yes||Foreign nationals can acquire land in Korea through simple notification, with • the exception of land subject to prior permission. - Information about the necessity of prior notification or permission can be obtained from relevant divisions of the city/county/district offices|
|Switzerland||Condition Required||Foreigners are allowed to buy real estate in Switzerland, but the conditions vary depending on the type of property and the buyer's country of origin. Switzerland has a specific federal law regulating how foreigners can buy property, known as the “Lex Koller” (after former justice minister Arnold Koller)|
|Thailand||Prohibited||U.S. citizens are prohibited from buying land in Thailand, they can, however, apply for long term land leases of up to 30 years and build structures upon the land. They can also buy condominiums from property developers.|
|Turkey||Condition Required||Non-residents may purchase real estate in Turkey, the total area of which does not exceed 25,000 square meters. The Turkish government prohibits foreign nationals from buying property in border and military areas. Besides, each foreign citizen is allowed to own up to 10 percent of the real estate in a certain place or city.|
|United Arab Emirates||Condition Required||The right to buy property in full ownership anywhere in the UAE belongs to the citizens of this country as well as foreigners from the Middle East, such as Saudi Arabia, Oman, Bahrain, Kuwait, and Qatar. Companies registered in these states also have this opportunity. A non-Arab foreigner can buy housing and commercial properties only in certain freehold areas of the UAE. Objects located in free zones are in full private ownership and can be sold, rented, donated, or passed on by inheritance. Can a foreigner buy a house in Dubai? Yes, between 2006 and 2008, regulations were passed that approved a list of free zones in Dubai, Umm Al Kuwait, Ras Al Khaimah, and Ajman. In 2019, freehold ownership became available to foreigners in Abu Dhabi as well. In Dubai, for example, there are currently more than 60 freehold areas. In the United Arab Emirates, there are also freehold areas where the property is sold as a long-term lease (with a maximum term of 99 years). At the end of this period, the tenant must return the property to the owner, but it is possible to extend the contract for a similar period for yourself or a relative. It is also possible to sell the property before the lease expires by transferring the remaining lease time to the buyer. This type of property is available only to citizens of Arab countries.|
|Vietnam||Condition Required||Foreign individuals can own apartments for a maximum of 50 years; foreign companies—for the period specified in their investment certificate. Also note that resident foreigners cannot sublet residential property purchased in Vietnam.|
Americans can buy land in only six other countries – Turks and Caicos, the Cayman Islands, Mexico, Anguilla, Bermuda, and Barbados.
US citizens can only buy property in six other countries. These countries are Barbados, Bermuda, Anguilla, Turks and Caicos, Mexico, and the Cayman Islands.