Applying for a golden visa has its own perks. For one, you would be able to acquire a second passport easily or a residency in another country for you and your family. Moreover, you can enjoy the freedom of movement in Schengen and get access to the European free market.
What exactly is a golden visa?
The golden visa is part of the international immigration program that allows well-off individuals to acquire a residence permit or citizenship in a different country. This can be done by investing in a property in the destination country or making a hefty donation or investment.
The minimum amount required varies from one country to another, ranging from $250,000 to million dollars. Once you make the investment and apply for the golden visa, you and your family will become eligible to apply as legal residents of the country. As a resident, you will earn the right to go to school, reside, and get access to quality healthcare from the local government of your chosen country.
What are the requirements?
To become eligible for a golden visa application, one must fulfil the following requirements:
- Have own money to invest
- Maintain the investment for at least the set amount of time (depending on the country rules)
- Acquire legal proof of source of the investment money
- Clean criminal records
- Have enough financial resources to sustain you and your family even if you do not wish to stay in the country for good
These are just some of the requirements for the Golden Visa; however, depending on your chosen destination, there could be specific instructions as well.
How to apply for a golden visa?
Aside from investing at least $200,000, you can invest in the following to qualify for a golden visa:
- Make a capital investment in a company’s shares/stocks
- Make a capital investment in the country’s public debt or government bonds
- Create employment opportunities
- Contribute to a country’s scientific or technological innovation
After making the investment, you can apply for a golden visa at the Embassy in your country or an authorised government body overseas. Whatever the case, the Embassy should be your primary point of reference.
Countries that offer golden visas
Here are some amazing destinations that provide Golden Visas through investment programs:
- Greece
- Portugal
- Spain
Greece
Greece offers residency-by-investment, which obliges an individual to invest €250,000 in a property within the country. Since Greece is part of the European Union, you will automatically become an EU resident once you have a golden visa. Additionally, you would be able to move freely in the Schengen Zone. Your spouse and children younger than 21 years old will also be granted five years of residence, along with all the benefits that come with it.
Check out luxury properties in Greece here.
Portugal
If you are planning to become an investor in Portugal real estate, you need to invest at least €350,000. In addition, the property must be at least 30 years of age. Alternatively, you can invest €500,000 in real estate in any location.
Looking to invest in a business? Do so by creating at least 10 jobs, or by investing €350,000 in capital research projects, €250,000 in national heritage construction, or €500,000 in an investment fund.
Find invest-worthy properties here.
Spain
The Spanish Golden Visa is a residence-by-investment program. It allows applicants who invest at least €500,000 in real estate, or €1M in bank deposits or shares, or €2M in public debt, to reside in Spain for one year or more.
Moreover, the Golden Visa allows one to travel through the entire Schengen territory and land a job in Spain. Over time, a foreigner can earn the Spanish temporary residency or even Spanish citizenship after 10 years, given that they meet the qualifications.
Takeaway
Applying for a golden visa may cost a significant investment, but if that means living in a home in your dream destination, it would be absolutely worth it. We hope you find this guide helpful.
Looking for the visa guide for Dubai? Check out Dubai Visa: What are the Requirements?