Golden Visa: All you need to Know

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Have you dreamed of heading overseas and living in another country to experience a new culture, a different way of life or perhaps to find better opportunities? why don't you put those dreams in check they may indeed be possible.

In this article, we’re going to know detailed information about Golden visas, which countries offer Golden visas, how can you apply for Golden visas, what are the qualifications, is your family included in the golden visa and many more? So, if you are looking for citizenship outside your birth country and if you are looking to set up a foreign business or get citizenship in another developed country, then you are looking for options available for immigration. Have you ever considered getting a Golden visa as an option?

What is Golden Visa?

Golden visas are an immigration scheme offering investors and their families the opportunity to become residents of a specific country in exchange for a substantial economic investment. In Europe, several countries offer this visa option to non-European citizens, such as Portugal, Spain, and Greece. Portugal, for example, has one of the world’s most successful Golden Visa programs, and since 2012, 10,015 investors and 15,431 family members have benefited from the Portugal Golden Visa. 

• These immigration schemes are very successful and offer several investment routes at different prices. If you are looking to invest in real estate, government bonds, new businesses, or private equity funds, there are plenty of options available for your budget. one option is a golden visa.

• Golden visa gives investors and their families the opportunity to become residents of a specific country in exchange for qualifying investments they also allow applicants to apply for citizenship by naturalization after a set number of years according to the country's requirement and policy in Europe there are several countries offering this visa option to non-European citizens of Portugal, Spain and Greece and now UAE.

• Also, after the pandemic, each immigration scheme has its specific investment options at different prices. Whether you are looking to invest in property, government bonds, a new business or private equity funds, there are plenty of options for you depending on your needs and budget. So, what can a European golden visa give you  There are a few benefits. 

Benefits of a Golden visa

• The right to live, work and study in a developed and stable country.

•  A high Quality of Life.

• Many investments route.

• Visa-free travel in the Schengen area

• The whole family is eligible for citizenship.

Requirements for Golden visa

The golden visa requirements vary from country to country in most cases, applicants will need to do the following:

• Be either Non -EU (Non – Europe), non-Swiss, or non -EEA (European Economic Area)

• Make the required investment and maintain it for the minimum amount of time.

• Have a clean criminal record 

• Spend a minimum number of days in the country

How does a golden visa work for the Long-Term?

After having a Golden Visa for 5 years, you and your family will obtain the right to apply for citizenship by naturalization, and you will be able to exit your investment. If you decide not to apply for citizenship, you are a permanent residency candidate and must only renew your permit residence every 5 years. The minimum stay requirements are a plus when you consider the Portuguese Golden Visa, as you must only prove that you were physically in Portugal for 7 days per year to have it renewed.

Specifically, acquiring a Portuguese Golden Visa allows individuals and families to travel freely throughout the European Schengen area. Europeans make over 1.25 billion journeys within the Schengen area every year. A Portuguese Golden Visa allows a traveller to spend a week in France, a weekend in Denmark and then fly to Italy without going through the hassle of obtaining a visa to all three nations. Once you have your visa, you don’t just travel freely, you live life without borders.

Popular Golden Visas

The Dubai Golden Visa:

In 2019, the United Arab Emirates (UAE) applied a new system for long-term residence visas, allowing foreigners to live, work and study in the UAE without needing a national guarantor and with 100% proprietorship of their business. The amendment was taken about in a bid to entice new foreign residents. to the emirate of Dubai, following the economic disturbance caused by the pandemic. 

Investment Option:
For the 10-year visa, investors having no less than AED (United Arab Emirates dirham) 10 million worth of public investment, either in the form of an investment fund or a company, can apply. However, at least 60 per cent of the total investment must not be in the form of real estate, and the invested amount must not be loaned, or in the case of assets, investors must assume full ownership. The investor must be able to retain the investment for a minimum of three years as well. This 10-year-long visa may be extended to include business partners, providing that each partner contributes AED 10 million. The long-term visa can also include the holder’s spouse and children. 

Exceptional high school and university students are eligible for a 5-year residency visa in the UAE. (United Arab Emirates) High school students who rank top in the country (a minimum grade of 95 %) and students from certain universities with a GPA (Grade point average) of 3.75 are eligible for visas. 

Two of the best golden visas in Europe:

• Portugal Golden visa

• Spanish Golden visa

The Portugal golden visa

This visa is one of the most popular in the world and gives qualifying investors and their family members the right to live, work and study in Portugal, and all their family members can benefit. To better secure your family’s future, there are many different investment options from real - estate, capital transfer or investment funds. The Portugal golden visa should be on your list to consider. In 2012, Portugal was one of the first European nations to offer a residency-by-investment program. Considering the overwhelming success of that program, many other European countries were then motivated to start their own programs. 

However, thanks to Portugal’s experience and ingenuity, it has remained one of the most popular residency-by-investment programs, allowing participants to travel freely throughout Europe. What drew individuals and families to Portugal initially was its phenomenal universal healthcare system, education system, culture, and stunning landscape. Those advantages have remained, and Portugal has refined its residency-by-investment program. To obtain a Portuguese Golden Visa, applicants are required to fulfil a series of general requirements and invest a minimum sum of money depending on the type of investment. 

For example, investors can:

• Make a €1,000,000 capital transfer.

• Create a minimum of 10 job positions.

• Purchase real estate property with a value equal to or above €500,000.

• Purchase a €350,000 real estate property that is at least 30 years old.

The Spain Golden Visa: 

The Spanish golden visa provides you with an array of perks, a delicious cuisine, laid-back quality of life and welcoming people. Spain is many people's dream where they also have many investment options note if you are choosing between the two as a means to acquire citizenship, the Portuguese golden visa is quicker as long as you hold your investment for five years, you can start the process to get citizenship Golden visas are not just found in  European however if the island is beckoning you, you will be able to find several options in the Caribbean. Dominica Saint Kitts and Neves St Lucia besides each provide excellent options where you can delight in a whole array of benefits. The Caribbean islands can also offer you some very affordable opportunities.

Spain golden visa investment routes:

• Purchase real estate with a minimum value of €500,000.

• Issue a bank deposit of at least €1,000,000.

• Invest €1,000,000 in shares of Spanish businesses.

• Contribute €2,000,000 in government bonds.

• Start a business in Spain that generates employment, contributes to technological and/or scientific innovation, or has a strong socio-economic impact.

Greece Golden Visa:

If you enjoy ironically gorgeous beaches, cuisine, and endless sunshine, consider becoming a Greek resident. Greece’s Golden Visa Program offers just that and more, welcoming non-Europe investors to the nation. In return, enjoy European residency, visa-free travel within the European Union, and prime living conditions.

Investment Options:

The most popular route to Greek residency is to buy a property in Greece that’s worth at least €250,000. Most investors opt for this because you can rent out your property and earn back some of your initial investment, as well as it is the cheapest investment option. Alternatively, invest in government bonds, make a capital contribution to a fund, or invest in corporate bonds or shares to obtain residency.

Conclusion

In today’s global economy, many HNWI (High Net - Worth Individuals) reside and operate their business at the international level in foreign countries, and therefore they need to travel often on short timelines. Therefore, economic citizenship programs do not have mandatory physical residency requirements. which means business owners, investors and entrepreneurs can continue working from where they are already based without disruption these programs can also be an opportunity for families to protect themselves against the risk with second citizenship, i.e., via golden visa.