Are you planning to move to a foreign country for better lifestyle and business opportunities? Or do you want to create a safe haven for yourself and your family against economic or political turmoil?
If yes, consider investing in a golden visa program to obtain international residency. The program offers high-net-worth individuals the opportunity to invest in a particular country and, in turn, get benefits like the right to live, work and study in that country.
For example, several nations in the EU, like Portugal, Spain, and Malta, offer residency benefits through the program.
In this article, we will look at golden visas, their benefits, investment options, and other requirements.
An Overview: Golden Visa Program
The golden visa program offers qualified foreign investors residency and citizenship through investment.
For example, you must make and maintain an investment in the country you want to move to. Upon fulfilling the requirement criteria, you are provided with a residency permit. You can then move to the country immediately or once you retire.
These programs were started to boost foreign direct investment in the host country, create jobs, and help the domestic economy.
If you have queries about golden visas or are wondering if you are the right candidate for them, you can contact the investment migration experts at Global Residence Index for guidance.
Benefits of Getting a Golden Visa
One of the main benefits of a golden visa is that you can immigrate with your family. You can get access to a favorable economic market, and your family can enjoy a better standard of living.
Here are some of the other benefits offered by a golden visa:
- You can travel to several countries visa-free. For example, you can travel visa-free in the EU with a Portugal or Spain golden visa.
- You get the right to live, work, and study in the country.
- You can access high-quality educational institutions and healthcare facilities offered by the host country.
- The program can also be a path to obtain citizenship. For example, in Greece, you can apply for permanent residency with a golden visa after five years of residency. And after a couple of years, you can apply for citizenship.
Investment Options for a Golden Visa
Here are the common investment options available under golden visa programs.
- You could purchase real estate or rent a property. You must maintain your investment for a particular period, which is typically five years.
- You could invest in stocks, investment, or venture capital funds in companies established in the host country.
- You could make bank deposits or invest in government bonds.
- You could start a new business and create employment opportunities for the locals.
Requirements for a Golden Visa
Here are some of the general requirements one must fulfill when applying for a golden visa.
- As the primary investor, you must be over 18 years old.
- You have a clean criminal record.
- You must have health insurance.
- You must be able to furnish proof of income and have sufficient funds for yourself and your family during the duration of your stay.
- You must complete and maintain the investment for a minimum period, as stated in the program.
Examples of Countries Offering a Golden Visa Program
If you are specifically looking for golden visa programs to get access to the EU, consider the four countries below.
Portugal
Portugal boasts of a pleasant climate, vibrant local culture, and a high quality of life. You can apply for a golden visa with a minimum investment of EUR 250,000 towards supporting or preserving arts and culture in the country.
You can also invest EUR 500,000 to acquire investment or venture capital funds. You could invest the same amount towards national scientific and technological research activities. Or you could start a business with EUR 500,000, creating at least ten new jobs.
At the time of writing, Portugal’s ‘Mais Habitacao’ bill has become law. So, you can no longer invest in real estate for a golden visa.
Spain
If you want to make the most of the economic opportunities presented by the EU, Spain is another country you can consider. The country is diverse and has a rich culture and history. It is one of the more affordable countries to live in than several Western European countries.
To apply for a golden visa, you can acquire real estate for a minimum of EUR 500,000. You could invest EUR 1 million in stocks, shares, investment, or venture capital funds of Spanish companies. Or you could make a bank deposit of EUR 1 million into a Spanish financial institution.
And lastly, you could make a EUR 2 million investment in Spanish public debt securities.
Malta
If a warmer climate is a priority, consider moving to Malta, as the island nation gets sunshine over 300 days a year. The country has political and economic stability, a low crime rate, and a quality healthcare system. Also, English is one of Malta’s official languages.
To apply for the Malta permanent residence program, you can purchase a property with a minimum value of EUR 300,000 in the South of Malta/Gozo. The minimum property value in the rest of Malta should be EUR 350,000.
Or you could rent a property for a minimum of EUR 10,000 in the South of Malta/Gozo and in the rest of the country for EUR 12,000.
Additionally, you must pay a non-refundable administrative fee, donate, and contribute to the Maltese economy.
Greece
Greece is a popular destination among tourists and foreign investors. The country offers affordable living, accessible healthcare, and tax incentives to new residents.
Greece offers many investment options under the golden visa program; we will look at a few of them. You could purchase real estate with a minimum value of EUR 250,000. In popular areas like Santorini, the real estate value should be EUR 500,000.
Alternatively, you can make a capital contribution of EUR 400,000 to a company established in Greece to acquire stocks or bonds. Or you could invest the amount in a Real Estate Investment Company (REIC) that invests exclusively in Greece.
You could also acquire shares, corporate bonds, or Greek treasury bonds worth EUR 800,000 that are traded in regulated markets in Greece.
Summary
If you want to obtain international residency, golden visa programs are the way to proceed.
You must make a minimum investment that contributes to the host country’s local economy. It could be in the form of real estate, stocks, bonds, capital contributions, business, or donations supporting arts, culture, science, and technology.
On successful application, you get a residence permit that allows you to live, work, and study in the country. It also provides global mobility, access to healthcare and education, and a high-quality standard of living.
If you wish to know more about golden visas, investment options, and the application process, you can contact the experts at GRI.
Discussion about this post