The golden visa opens the way to citizenship. This is one of the main reasons why foreigners are willing to invest hundreds of thousands of dollars in the economy of a foreign country. Program conditions vary from country to country, but several rules remain the same.
One of the most popular ways to get a golden visa is to invest in real estate. It provides many benefits, including a residence permit, and the right to work in the country, and after a few years, a foreigner can obtain the status of a citizen.
Among the states offering programs for obtaining “golden” visas are European countries, for example, Portugal, Spain, Malta, Greece, and others, Caribbean island countries: Grenada, Antigua, and Barbuda, and Asian countries: the United Arab Emirates, Singapore, and even Canada, the USA and Australia.
The list of European countries that are willing to provide a residence permit in exchange for investment is quite long. According to experts, Portugal, Spain, and Greece are most often chosen for these purposes.
The Portuguese government offers investors a fairly large selection of options for obtaining a “golden” visa. The minimum amount that a foreigner must invest in the support of art or the reconstruction of the national heritage is 250,000 euros. This amount does not include various visa fees. Another option is to buy or invest in real estate, buy shares in a Portuguese company, or open a business on your own and create jobs for local citizens. Holders of the coveted document receive the right to use visa-free travel within the EU and some other countries, live and work in Portugal, and also apply for permanent residence after 5 years.
According to many experts, Greece has one of the best golden visa programs. The reason is simple – freezing VAT on new buildings. A minimum amount of 250,000 euros must be invested in the purchase of a property. An alternative option is Greek securities for 400,000 euros. The residence permit becomes available also after 5 years.
Spain has more complex program rules compared to Portugal and Greece. Firstly, the minimum amount for investment in real estate is 500,000 euros. You can buy government bonds or shares of Spanish companies, but the amounts become almost cosmic: 2,000,000 and 1,000,000 euros, respectively. Citizenship by investment is not granted here, but investors will receive permanent residence in 10 years if they remember to renew their golden visas.
Countries put forward mandatory requirements for investors wishing to obtain a residence permit. Some of them differ, but there is a general list of such requirements:
– Investment funds must be obtained legally. It is necessary to have documents confirming their source.
– It is necessary to maintain the level of investment for a certain period – usually several years.
– People with a criminal record will not be able to participate in the program.
– Applicants must be at least 18 years of age.
Investors should also pay attention to additional fees when obtaining a golden visa. Their payment is required.
If the applicant wishes to obtain a residence permit with his family, then a certain amount will also have to be paid for each family member.
Mandatory residency requirements are also an important selection criterion. Portugal, for example, requires an investor to spend only 1-2 weeks in the country per year, while Canadian investment programs usually require a minimum of 183 days (more than six months) of residence for 3 years.
If the applicant has chosen a country in which the property can be rented out, it is necessary to inquire about mandatory taxes in advance.
The Golden Visa program for investments is in demand because it is beneficial for both investors and the state. Program participants and their families receive significant benefits, and the country’s economy receives an additional impetus for development. A decisive role in choosing a country is most often played by the options and amount of investment required, as well as the benefits that the investor receives and additional conditions for participation in the program.