Buying property through a golden‑visa programme is often seen as a way to generate rental income while securing residency. However, the rules governing whether a golden‑visa property can be let vary widely by country, ranging from outright bans on short‑term rentals to regimes that actively encourage both short‑ and long‑term lets. Below is a concise guide to the current rental restrictions (or lack thereof) for the main golden‑visa programmes.
Greece
- Legal framework: Article 64 of Law 5100/2024.
- Restriction: Short‑term rentals (any stay < 60 days) are prohibited, regardless of platform.
- Penalty: €50,000 administrative fine and possible revocation of the residence permit.
- Allowed use: Long‑term leases are permitted.
- Market impact: Roughly 15,000 of the 16,000 foreign‑purchased properties were placed on the long‑term market by the end of 2024.
- Yield estimate: Gross yields of 3 %–6 % on compliant long‑term lets.
Malta
- Recent change: Legal Notice 146 of 2025 lifted the previous five‑year leasing ban for the Malta Permanent Residence Programme (MPRP).
- Eligibility:
- Purchasers paying ≥ €375,000 may lease the property whenever they are not resident in Malta.
- Renters (minimum €14,000 / year) may sublet after the first five years, provided the sub‑tenant is not another MPRP applicant and the landlord consents.
- Compliance: Leases must be registered within ten days; unregistered tenancies carry criminal liability.
- Tax: Rental income is subject to a flat 15 % final tax rate.
Cyprus
- Fast‑track permanent residency (€300,000): No rental restrictions.
- Tax nuance:
- A reduced 5 % VAT applies only when the new residential property is the buyer’s primary residence and is not let.
- If the property is intended for rental from the start, the full 19 % VAT applies.
- Category F residency: Requires the property to be the applicant’s own residence and forbids letting.
Turkey
- Citizenship requirement: Minimum USD 400,000 property purchase.
- Restriction: A three‑year “no‑sale” annotation on the title deed; leasing is unrestricted.
- Tax: Rental income taxed progressively at 15 %–40 %.
Indonesia
- Golden‑visa threshold: Residential apartments ≥ USD 1 million (villas excluded).
- Rental permission: Allowed, but short‑term rentals listed on platforms (e.g., Airbnb) must obtain a Business Identification Number (NIB) since March 2026.
- Compliance: Unlicensed short‑term rentals may be delisted; foreign‑managed rentals are typically structured through a local company.
Malaysia
- Program: My Second Home (MM2H).
- Property requirement: Purchase price around RM 600,000 (varies by tier/state) with a ten‑year holding period.
- Rental status: Unclear. Some advisors say individuals cannot let the property and that rental income must flow through a Malaysian company; others report no restriction. Official guidance is pending.
Gulf States (UAE, Saudi Arabia, Qatar, Oman)
- General stance: No occupancy or rental restrictions.
- Key points:
- UAE: AED 2 million property qualifies for a golden visa; owners may live in, lease long‑term, or operate holiday lets with the appropriate tourism permit.
- Saudi Arabia: Premium Residency (SAR 4 million) requires the property to be residential, completed, and mortgage‑free; use is unrestricted.
- Qatar: Renewable residency from QAR 730,000; rental income is tax‑free.
- Oman: Ten‑year Golden Residency (since Sep 2025) accepts properties from OMR 200,000 with no rental limits.
Caribbean Citizenship‑by‑Investment (CBI) programmes
- Dominica, Antigua & Barbuda, St. Lucia: Real‑estate investments range from USD 200,000 to USD 300,000, typically as shares in approved resort developments.
- Rental model: Developers project annual rental distributions of roughly 2 %–5 % during the mandatory holding period.
- Tax: No personal income tax on rental proceeds.
Mauritius
- Residency investment: USD 375,000 purchase in an approved development.
- Rental permission: Both short‑ and long‑term lets are allowed; proceeds can be repatriated without restriction.
Key take‑aways for investors
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Identify the governing layer:
- Permit‑level restrictions (e.g., Greece, Malta).
- Tax‑code implications (e.g., Cyprus).
- Title‑deed conditions (e.g., Turkey).
- Platform licensing (e.g., Indonesia).
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Factor in additional costs: VAT rates, registration fees, and potential fines can materially affect net yields.
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Seek local legal advice where guidance is ambiguous, especially in jurisdictions like Malaysia where official policy is still evolving.
Understanding the specific rental regime attached to each golden‑visa programme is essential before committing capital, as it determines both the feasibility of generating income and the overall return on investment.
Source article: knightsbridge.ae
