What is meant by «Balcans» and how to relocate there? 2021

What is meant by «Balcans» and how to relocate there?

15.03.2021 16:00
Autor: Maria Kozhukhar

The internet is full of information about the fact that the Balkans is a hub for constant wars and politically motivated conflicts. However, this statement is not quite right: only a few places on the peninsula can be called hot spots (for example, the unrecognized Republic of Kosovo or Serbia). 

Other countries in the Balkans, such as Montenegro, Greece and Bulgaria, are among the safest countries which attract many tourists and investors every year. 

What areas does the Balcans comprise?

Geographically, the following countries belong to the Balkan Peninsula:

The last 2 countries are traditionally believed to be a part of Asia and Southern Europe respectively. 

The peninsula is bordered on six seas: the Adriatic Sea, the Ionian Sea, the Marmara Sea, the Mediterranean Sea, the Black Sea and the Aegean Sea. Despite the fact that all countries are located on the same peninsula, each of them is one of a kind and has its own characteristics. 

In this article, we pay attention to the 3 countries of the Balkans, which are in the highest demand among the users of our platform.

Bulgaria

A country that combines the beautiful sandy beaches of the Black Sea coast and the best ski resorts.

Real estate in Bulgaria

Citizenship

Bulgaria is one of the few republics of the Balkan Peninsula that is part of the European Union. For this reason, every year more and more foreigners are applying for a Bulgarian passport. There are several ways to obtain Bulgarian citizenship: 

  • by origin; 
  • by naturalization; 
  • by marriage with a Bulgarian citizen; 
  • by legal residence in the country for more than 10 years; 
  • by special merits; 
  • by investment. 

You can find more information about all the nuances of obtaining Bulgarian citizenship here. 

It is worth noting that the Bulgarian residence permit doesn’t give grounds for visa-free entry and residence in the EU. Only people with Bulgarian citizenship have these advantages.

Buying a property

All foreigners are allowed to acquire property in Bulgaria. The restrictions are solely applied on the purchase of land and real estate with a land plot — such objects are available only to EU citizens. 

The purchase of housing is not a basis for obtaining a Bulgarian passport, but it facilitates the obtaining of a multi-visa and provides a foreigner’s stay in the country for up to 180 days a year. 

The cost of housing depends primarily on its location and type of property. Thus, the average price per square metre in Burgas is 834 euros, in the vicinity of Sunny Beach — 537 euros.

Greece

A wonderful country in the southern part of the Balkan Peninsula. Almost all year round, the inhabitants of Greece enjoy the warm weather and the golden beaches of the Azure Sea.

Real estate in Greece

Citizenship

A Greek passport gives foreigners numerous advantages: 

  • visa-free entry to 183 countries; 
  • free education in European educational institutions; 
  • no need to renounce your first citizenship; 
  • confidentiality — Greek law provides for the non-disclosure of information about obtaining citizenship to third parties. 

There are several ways to obtain Greek citizenship, but the most popular one is investing in real estate.

Buying a property

Real estate in Greece has long been in demand among investors — having invested only 250,000 euros in the property, a foreigner becomes eligible for a Golden Visa. The document is issued not only to the investor, but also to all members of their family. 

Real estate prices depend on the region: an apartment in Athens can be bought for 100,000 euros, in Chalkidiki— for 60,000 euros. The lowest price of housing on the island of Crete is 200,000 €. 

Montenegro 

A hospitable country that welcomes tourists with its incredible nature. Montenegro is considered to be one of the most picturesque Balkan republics.

Real estate in Montenegro

Citizenship

At the moment, Montenegro is not a member of the EU, but in 2018 it was included in the list of countries which are ’potentially ready’ to join the European Union. According to the documents, Montenegro is likely to become a member of the European Union in 2025. 

Such a perspective has increased the demand for Montenegro citizenship. Many foreigners are seriously interested in the investment programme, which was launched two years ago.

Buying a property

According to the draft law, when purchasing a property under construction, a foreigner can apply for a passport of Montenegro. The investment amounts are as follows: 

  1. 250,000 euros in the north of the country; 
  2. 450,000 euros in the south.

Montenegro is a perfect country for those citizens who want to buy a house by the sea for personal purposes. Prices here are lower than in the EU countries. There is also an opportunity of obtaining passive income from the real estate rent. 

The cost of housing depends on its proximity to the sea. For instance, an apartment in Pòdgorica costs 80,000 euros. While an apartment with the same square footage in Budva costs about 150,000 €.

Photo: Envato

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