I'll try to answer both questions, though I will change the first question somewhat. Let's work in the setting of a real reductive algebraic group GG and a closed subgroup HsubsetG.
Your first question asks when G/H is an open subset of some (presumably complex) variety. I think that this question should be modified in a few ways.
You can't really say that G/H "is a subset" of a variety, since G/H is not a priori endowed with a complex structure. So you need a bit more data to go with the question -- a complex structure on the homogeneous space G/H. Such a complex structure can be given by an embedding of the circle group U(1) as a subgroup of the center of H. Let phi:U(1)rightarrowG be such an embedding, and let iota=phi(i) be the image of epiiinU(1) under this map. Such an embedding yields an integrable complex structure on the real manifold G/H, I believe (though I haven't seen this stated in this degree of generality).
So now one can ask if G/H, endowed with such a complex structure, is an open subset of a complex algebraic variety. But again, I have some objection to this question -- it's not really the right one to ask. Indeed, it's very interesting when one finds that some quotients GammabackslashG/H are (quasiprojective) varieties -- but such quotients are not obtained as quotients in a category of varieties, from G/H to GammabackslashG/H. They are complex analytic quotients, but not quotient varieties in any sense that I know.
So what's the point of knowing whether G/H is an open subset of a variety? Really, one needs to know properties of G/H as a Riemannian manifold and complex analytic space (e.g. curvature, whether it's a Stein space). That's the most important thing!
As Kevin Buzzard and his commentators note, under the assumption that G comes from a reductive group over Q, and under the assumption that H is a maximal compact subgroup of G, and under the assumption that there is a "Shimura datum" giving the quotient G/H a complex structure, the quotient G/H is a period domain for Hodge structures, and the quotients GammabackslashG/H are quasiprojective varieties when Gamma is an arithmetic subgroup of G.
But these are quite strong conditions, on G and on H! I have also wondered about other situations when X=GammabackslashG/H might have a natural structure of a quasiprojective variety. A general technique to prove such a thing is to use a differential-geometric argument. A great theorem along this line is due to Mok-Zhong (Compactifying complete Kähler-Einstein manifolds of finite topological type and bounded curvature, Ann. of Math 1989). The theorem, as quoted from MathSciNet, reads:
"Let X be a complex manifold of finite topological type. Let g be a complete Kähler metric on X of finite volume and negative Ricci curvature. Suppose furthermore that the sectional curvatures are bounded. Then X is biholomorphic to a Zariski-open subset X′ of a projective algebraic variety M."
Such results can be applied to prove quasiprojectivity of Shimura varieties of Hodge type. I believe I first learned this by reading J. Milne's notes on Shimura varieties.
I tried once to apply this to an arithmetic quotient of G/H, where H was a bit smaller than a maximal compact (when G/H was the twistor covering of a quaternionic symmetric space) -- I couldn't prove Mok-Zhong's conditions for quasiprojectivity, and I still don't know whether such quotients are quasiprojective.
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