The rules governing whether a property purchased to obtain a golden‑visa or citizenship‑by‑investment permit can be rented vary widely. Some countries have banned short‑term lets, others impose conditions, and a few allow unrestricted leasing. Below is a concise map of the current regimes, followed by practical points to check before committing to a purchase.
Greece – Short‑term rentals prohibited
- Law: Article 64 of Law 5100/2024 (effective 2024).
- Restriction: Any rental < 60 days is classified as short‑term and is forbidden, regardless of platform (Airbnb, Booking, or private arrangements).
- Penalty: €50,000 administrative fine and possible revocation of the residence permit.
- Long‑term leasing: Fully legal; about 15 000 of the 16 000 foreign‑owned units entered the long‑term market by the end of 2024.
- Yield expectation: 3 %–6 % gross on compliant long‑term lets (versus higher Airbnb returns before the ban).
Conditional regimes
Malta – Previously banned, now allowed
- Program: Malta Permanent Residence Programme (MPRP).
- Investment threshold: Minimum €375 000 property purchase.
- Rental rights: After the five‑year holding period, owners may lease the property; sub‑letting is permitted with landlord consent and the sub‑tenant must not be another MPRP applicant.
- Registration: Leases must be registered within ten days; failure is a criminal offence (fine up to €10 000).
- Tax: Rental income taxed at a flat 15 % final rate.
Cyprus – No rental ban, VAT implication
- Fast‑track permanent residency: €300 000 investment.
- Rental: No restriction on letting the qualifying property.
- VAT: Reduced 5 % VAT on a new home applies only if the property is the owner’s sole residence and not rented; otherwise the standard 19 % VAT applies.
- Category F route: Requires owner‑occupation; renting is prohibited.
Turkey – Sale restriction, rental allowed
- Citizenship by investment: $400 000 property purchase.
- Sale: Title deed carries a three‑year “no‑sale” annotation enforced by the Land Registry.
- Rental: Property may be let throughout the holding period; rental income taxed progressively (15 %–40 %).
Malaysia – Unclear guidance
- Program: My Second Home (MM2H).
- Investment: Property purchase from RM 600 000 (≈ US$142 000) depending on tier/state; must be held for ten years.
- Rental: Conflicting advisories – some state that individuals cannot let the property and that rental income must flow through a Malaysian company; others report no restriction.
- Recommendation: Obtain written clarification from a licensed local agent before proceeding.
Indonesia – Rental permitted with licensing
- Golden Visa: US$1 million for residential apartments (villas excluded).
- Rental: Allowed, but short‑term listings on platforms such as Airbnb require a Business Identification Number (NIB). Unlicensed units may be delisted.
- Structure: Foreign‑run rental operations are typically organized through a local company.
Jurisdictions that fully welcome landlords
Gulf Cooperation Council (UAE, Saudi Arabia, Qatar, Oman)
- Dubai: AED 2 million (≈ US$545 000) property qualifies for a ten‑year golden visa; owners may occupy, lease long‑term, or operate holiday lets with the appropriate tourism permit.
- Saudi Arabia – Premium Residency: SAR 4 million (≈ US$1.07 million) residential, completed, mortgage‑free property; use is unrestricted.
- Qatar: QAR 730 000 (≈ US$200 000) property; no personal income tax on rental income.
- Oman: OMR 200 000 (≈ US$520 000) property; ten‑year residency, unrestricted leasing.
Caribbean citizenship‑by‑investment programs (Dominica, Grenada, Antigua & Barbuda, St. Lucia)
- Investment range: US$200 000–US$300 000 in approved resort‑development shares.
- Rental: Projects market projected rental distributions of roughly 2 %–5 % per year during the mandatory holding period.
Mauritius
- Investment: US$375 000 in an approved development (Property Development Scheme, Integrated Resort Scheme, Real Estate Scheme, or Smart City Scheme).
- Rental: Both short‑term and long‑term lets are permitted; proceeds may be repatriated without restriction.
Egypt
- Citizenship route: US$300 000 real‑estate investment, five‑year holding period.
- Rental: No prohibition on letting the property.
- Early sale penalty: Exiting before five years requires a US$250 000 contribution to the central bank to retain citizenship.
Latvia (currently)
- Investment: €250 000 property purchase grants Schengen residence.
- Rental: Short‑term, long‑term, or vacant use all allowed.
- Future risk: A draft Immigration Law (June 2026) proposes removing real‑estate from qualifying investments; the bill was returned for a second reading, indicating possible tightening.
Three essential checks before buying
- Rental regime attached to the permit – Determine whether the restriction is an immigration condition (e.g., Greece’s 60‑day rule, Malta’s sub‑letting limits) that could affect permit renewal.
- General market and tax rules – Account for local licensing (Dubai holiday‑let permits, Indonesia’s NIB), VAT implications (Cyprus), and income‑tax rates (Turkey, Malta).
- Clarity of the law – In jurisdictions with ambiguous guidance (Malaysia), obtain written confirmation from a qualified local practitioner before transferring funds.
Understanding these nuances helps avoid costly surprises, such as fines, permit revocation, or an inability to generate the expected rental income from a golden‑visa property.
Source article: www.imidaily.com
