How to Buy Property Abroad: Step-by-Step Guide for Foreign Investors

Introduction

Purchasing a home or investment asset in another country can feel like navigating an unfamiliar legal maze. The good news is that the process follows a predictable sequence: you reserve the unit, verify its legal standing, sign a notarial deed, register the title and finally settle payment. What changes from one jurisdiction to another are the specific thresholds for residency or citizenship, local taxes, and any usage restrictions (for example, short‑term rentals). This guide walks you through each step in plain language and highlights the most common pitfalls in Turkey, Greece, Montenegro, Spain, Portugal and Thailand.

Step 1 – Reservation

The first formal act is to secure the property with a reservation agreement or an earnest‑money deposit. This document shows the seller that you are serious and freezes the price while you complete due diligence.

• Deposit amount: Typically 5 %–10 % of the purchase price, but it can be higher in hot markets such as Istanbul or Athens.
• Refund conditions: The agreement should state when the deposit is refundable (e.g., if title search uncovers liens).
• Time frame: Most contracts give you 30–45 days to complete the next steps before the reservation expires.

If you are working with a specialist agency like Resida Global, they can negotiate favourable deposit terms and ensure the reservation clause aligns with local practice.

Step 2 – Due Diligence (Legal & Financial Checks)

Before any money changes hands, you must confirm that the seller truly owns the asset and that there are no hidden burdens.

• Title search: A local lawyer checks the land registry for ownership history, mortgages, easements or pending court actions.
• Tax compliance: Verify that property taxes (e.g., IBI in Spain) are up‑to‑date and that there are no outstanding communal fees.
• Planning permissions: In countries like Thailand, confirm the building has a valid construction permit; otherwise the freehold condo may be illegal.
• Residency link: Some nations tie the purchase to a visa programme (e.g., Greece’s Golden Visa). Ensure the amount you intend to invest meets the current threshold.

A thorough due diligence report typically costs 1 %–2 % of the purchase price and is a non‑negotiable safeguard.

Step 3 – Notary Deed (Signed Contract)

The notary public acts as an impartial witness who drafts the final sales contract, known by different names: Tapu in Turkey, Escritura Pública in Spain, or Title Deed in Thailand.

• Parties present: Buyer, seller and the notary. In some jurisdictions (e.g., Greece) a translator is required if you do not speak the local language.
• Contents: Full description of the property, purchase price, payment schedule, and any conditions such as completion of renovation works.
• Fees: Notary fees range from 0.5 % to 1.5 % of the sale price depending on the country.

At this stage you will also sign a declaration that the funds used are clean and comply with anti‑money‑laundering regulations.

Step 4 – Title Transfer & Registration

After signing, the notary files the deed with the local land registry. This step creates an official public record of your ownership.

• Registration tax: Known as Tapu Harcı in Turkey (4 % of the declared value) or Impuesto de Transmisiones Patrimoniales in Spain (6‑10 %).
• Time to register: Usually 2–4 weeks, but can be longer in jurisdictions with back‑logged registries.
• Certificate of title: Once registered you receive a copy of the title deed—your legal proof of ownership.

If you plan to apply for residency or citizenship through investment, this official title is the cornerstone document you will submit to immigration authorities.

Step 5 – Final Payment & Closing

The balance of the purchase price is transferred on the agreed closing date. Most buyers use a bank escrow account to protect both parties.

• Bank transfer fees: International wires can cost €15‑€30 per transaction; consider using a specialist foreign‑exchange service for better rates.
• Closing costs total: Expect roughly 7 %–10 % of the purchase price covering taxes, notary, registration and legal fees.
• Utility handover: Ensure that water, electricity and internet accounts are transferred to your name before you move in or rent out the unit.

After payment, the seller hands over keys, any warranties, and a set of building documents. Your property is now officially yours.

Country‑Specific Considerations

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Country	Minimum Investment for Residency/Citizenship	Residency / Citizenship Path	Key Restrictions
Turkey	$400,000	Citizenship after 3‑year ownership (non‑EU)	No EU rights; property must be held for three years.
Greece	€250,000 / €400,000 / €800,000 tiers	Golden Visa – 5‑year renewable EU residence	Short‑term rentals (Airbnb) prohibited in Golden‑Visa units.
Montenegro	€250,000 (varies by region)	Renewable residence permit linked to property	Not an EU member; citizenship‑by‑investment programme closed in 2022.
Spain	€500,000 (traditional Golden Visa – abolished Apr 2025)	Now only non‑lucrative or digital‑nomad visas for investors	Golden Visa no longer available after April 2025.
Portugal	€500,000 (previously Golden Visa – residential removed Oct 2023)	D7 passive‑income visa for retirees or remote workers	No property route for Golden Visa after October 2023.
Thailand	Freehold condo ownership up to 49 % of building	No residency‑by‑property; visas are separate	Land cannot be owned by foreigners; only condominiums.

Turkey: Investing $400,000 in a residential project and holding it for three years grants citizenship, but the passport does not confer EU freedom of movement. Buyers should verify that the developer is licensed by the Ministry of Environment and Urbanisation.

Greece: The Golden Visa program offers three investment thresholds. The lowest €250,000 tier applies to properties in designated zones (e.g., Athens suburbs). Remember that short‑term rentals are banned for units obtained through this scheme, so the model works best for long‑term residential use.

Montenegro: While the citizenship‑by‑investment programme closed in 2022, purchasing property still provides a renewable residence permit. The amount varies—€250,000 in coastal areas and €150,000 inland—but you must maintain ownership to keep the permit active.

Spain: The Golden Visa route ended in April 2025. Prospective buyers now rely on non‑lucrative visas (for retirees) or digital‑nomad visas that do not require a property purchase, though owning Spanish real estate can still support the application.

Portugal: After October 2023 residential property no longer qualifies for the Golden Visa. The D7 visa is now the primary pathway for investors who can demonstrate passive income or remote‑work earnings; owning a home can strengthen the case but is not mandatory.

Thailand: Foreigners may own up to 49 % of the total floor area in a condominium building on a freehold basis. Land ownership remains prohibited, and there is no visa that grants residency simply by buying property. Buyers often pair condo purchase with a long‑term tourist or retirement visa.

Because each jurisdiction has its own timeline and documentation requirements, partnering with an experienced cross‑border specialist such as Resida Global can streamline the process from reservation to registration.

Conclusion

Buying property abroad follows a clear sequence—reserve, verify, notarize, register and pay—but the surrounding immigration rules differ dramatically. By understanding each step and respecting country‑specific thresholds, you protect your investment and open the door to residency or citizenship where available. With professional guidance, the dream of owning a home on another continent becomes a structured, achievable plan.

Frequently Asked Questions

Can I buy property abroad without being a resident of that country?

Yes. Most countries allow non‑residents to purchase real estate, but residency or citizenship benefits usually require an additional investment threshold and compliance with local visa rules.

What is the typical amount of deposit required when reserving a foreign property?

A reservation deposit generally ranges from 5 % to 10 % of the purchase price, though some markets may ask for up to 20 % depending on demand and developer policy.

Do I need a local lawyer for due diligence?

Engaging a qualified local attorney is strongly recommended. They will conduct title searches, verify tax compliance and ensure the seller has clear ownership before you sign any contract.

How long does it take to register the title after signing the notarial deed?

Registration usually takes 2–4 weeks, but in high‑traffic registries (e.g., Spain or Greece) it can extend to 6–8 weeks. Your lawyer will monitor progress and notify you of any delays.

Will buying property automatically grant me a visa or citizenship?

Only if the purchase meets specific government‑approved thresholds, such as Turkey’s $400k for citizenship or Greece’s €250k Golden Visa. Otherwise, ownership alone does not confer residency rights.