What is a Golden Visa?
One of the types of residency programs given to foreign nationals who significantly invest in a country is known as the Golden Visa. What, in the simplest words, Golden Visa means? It is a kind of residency earned in return for a form of investment through real estate purchase, investment in businesses, or even job creation.
In effect, the Golden Visa means that individuals can now live in another country without necessarily going through those very classic procedures. This visa is an easy way for high-net individuals to acquire residency in any country they so desire.
Golden Visa Countries
Many Golden Visa countries offer such programs, including many European nations. The biggest attraction with Golden Visa Europe programs is that they provide access to the European Union. Among the most popular countries offering the Golden Visa are:
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Portugal: Portugal is one of the most sought-after Golden Visa Europe programs, as it offers residency in exchange for a real estate investment of at least €500,000.
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Spain: A Golden Visa in Spain is acquired by investing at least €500,000 worth of real estate.
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Greece: Among the countries offering this type of visa, Greece would be the most affordable, since it requires an investment of at least €250,000 in real estate.
More countries, like the UAE, offer such a program, known as Golden Visa, through long-term residence in exchange for sizable investments.
| Flag | Country | Type | Single Investment (1) | Family Investment (1) | Notes/Additional Fees | Get Full Quote (2) |
|---|---|---|---|---|---|---|
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Portugal | Residency | €500,000 | €500,000 | Private equity fund. No taxes. Application and government fees apply. |
QUOTE |
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Spain | Residency | €500,000 | €500,000 | Any real estate. Taxes apply. Legal fees andminimal govt. fees. |
QUOTE |
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Greece | Residency | €250,000 | €250,000 | Taxes and real estate fees. Legal and administration charges. |
QUOTE |
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Malta | Citizenship | €750,000 | €900,000 | Citizenship. Extensive government fees in addition. Plus application fees. |
QUOTE |
|
Malta | Residency | €98,000 | €98,000 | Minimum property rental €10,000 pa. Charity donation plus government and application fees. |
QUOTE |
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St. Kitts & Nevis | Citizenship | $250,000 (3) | $250,000 (3) | Application fees, Due Diligence, Passport fees, Interview and Misc fees. |
QUOTE |
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Antigua | Citizenship | $240,000 (3) | $250,000 (3) | Application fees, Due Diligence, Passport fees, Interview and Misc fees. |
QUOTE |
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Grenada | Citizenship | $236,500 (3) | $241,000 (3) | Application fees, Due Diligence, Passport fees, Interview and Misc fees. |
QUOTE |
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St. Lucia | Citizenship | $242,000 (3) (4) | $245,000 (3) (4) | Application fees, Due Diligence, Passport fees, Interview and Misc fees. |
QUOTE |
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Dominica | Citizenship | $201,000 (3) | $251,000 (3) | Application fees, government fees, Passport fees, Interview and Misc fees. |
QUOTE |
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Vanuatu | Citizenship | $130,000 (3) | $180,000 (3) | Application fees, Due Diligence, Passport fees, and Misc fees. |
QUOTE |
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Italy | Residency | €500,000 | €500,000 | Real Estate, Legal and Application fees, government fees, Due Diligence and Misc fees. |
QUOTE |
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Hungary | Residency | €250,000 | €250,000 | Real Estate, Legal and Application fees, government fees, Due Diligence and Misc fees. |
QUOTE |
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Turkey | Citizenship | $400,000 | $400,000 | Real Estate, Legal and Application fees, government fees, Due Diligence and Misc fees. |
QUOTE |
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USA | Residency | $800,000 | $800,000 | Legal and Application fees, government fees, Due Diligence and Misc fees. |
QUOTE |
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Canada | Residency | CAD$245,000 | CAD$245,000 | Legal and Application fees, government fees, Due Diligence and Misc fees. |
QUOTE |
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UAE | Residency | AED2,000,000 | AED2,000,000 | Real Estate, Legal and Application fees, government fees, Due Diligence and Misc fees. |
QUOTE |
How to obtain Golden Visa:
The process usually involves the following:
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Make a Qualifying Investment: Depending on the country, this could include purchasing real estate, investing in a local business, or creating jobs. Each country has its own specific investment thresholds.
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Submit an Application: After making the investment, you must submit an application to the country’s immigration authorities, providing all required documentation.
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Undergo Background Checks: Many countries require applicants to undergo a thorough background check to ensure that they have no criminal record and meet other eligibility criteria.
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Receive Residency: Once the application is approved, the applicant receives a residency permit, often valid for an initial period of one to five years.
Golden Visa Eligibility
Its eligibility primarily depends on investment capacity and satisfying the other eligibility criteria of the country. Some of the eligibility criteria include;
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Minimum Investment: The minimum amount varies from one country to another. For example, in Portugal, it is set at an amount of €500,000 in real estate.
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Criminal Background Check: Several countries require that a person have no criminal record at all.
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Source of Funds: The applicant must have sufficient proof that the source funds employed as investment were lawfully obtained.
Benefits of Golden Visa
There are so many benefits of Golden Visa programs that make them such a gold mine for investors. Some of the most coveted benefit of golden visa include:
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Residency for all the family members: Most of the programs allow the primary applicant to also include spouses and children in an application, hence residing as well.
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Benefits of healthcare and education: Usually, all the benefits from healthcare and education provision in a country are enjoyed by Golden Visa holders.
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Path to Citizenship: Some countries issuing the Golden Visa have an option of becoming a citizen after a few years. For instance, Portugal will grant Golden Visa holders an opportunity to become a citizen if they have lived in the country for five years.
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Visa-Free Travel: The Golden Visa holder is entitled to visa-free travel in other countries of the Schengen Area in Europe and thus encourages easy travelling across the continent.
Golden Visa to Citizenship
Of course, full citizenship is sometimes granted after purchasing the Golden Visa. The time one needs to wait as well as the conditions to acquire full citizenship will also depend on the country. In other words, for the Golden Visa programs in Europe by Portugal and Spain, residency could eventually translate to full citizenship if the requirements are met or fulfilled, such as keeping the investment and meeting the residency requirement.
Golden Visa Cost and Investments
The cost of a Golden Visa will be extremely different based on the country chosen and the type of investment. Investments can take the following common forms:
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Real Estate: Most common is real estate purchase, but the real estate must be €500,000 or more in Portugal and Spain. In Greece, it is possible to buy for as low as €250,000.
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Business investments: Some countries demand or allow one to invest in a local business, boosting the economy and creating employment opportunities.
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Government Bonds: Sometimes, investment in government bonds is enough to acquire a Golden Visa
The entire cost of Golden Visa includes the investment itself; above all, application fees and legal fees besides, in some cases, taxes paid.
Golden Visa Duration and Validity
The validity of the Golden Visa ranges from one to five years depending on the country involved. In most countries, visa holders are at liberty to renew their visas after the initial period if the investment is maintained. Sometimes, one may renew the visa without end, hence becoming a long-term residency option.
What is the Use of Golden Visa?
Although the Golden Visa can fulfil diverse purposes, the following benefits to investors are specifically important:
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Satisfying residency in a foreign country with minimal residency requirements
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Diversifying investments through acquisition of property or setting up businesses in stable countries.
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Future possibilities of citizenship, which are especially useful to those who desire global mobility or second passports.
It is the combination of investment options and personal and family security that makes Golden Visa stand out for most people.
Conclusion
With the number of Golden Visa countries now open and attractive to investors, the advantages of a Golden Visa can include better healthcare and education systems or even leading to citizenship and visa-free travel through areas such as Europe. Knowing what a Golden Visa is and how to obtain one provides opportunities for investment and families.
Frequently Asked Questions
The frequently asked questions about the golden visa are covered in this section.
Why is the Golden Visa rejected?
A Golden Visa can be rejected for various reasons, such as failure to meet investment requirements, incomplete or incorrect documentation, insufficient proof of funds, or failing background and security checks.
What are the top 5 Golden Visas?
The top five Golden Visa programs include those offered by Portugal, Spain, Greece, the United Arab Emirates (Dubai), and Australia, each providing residency through significant financial investments.
Is Golden Visa expensive?
Yes, the Golden Visa is often considered expensive. Investment requirements vary by country, typically starting from EUR 250,000 (Greece) to over AUD 5 million (Australia).
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