European golden visa initiative results in citizenship in the EU nation. The freedom to live and work anywhere in the European Union is what this entails. Investors in golden schemes never request a visa to travel within Europe. With a single visa, they can travel and do business wherever. Investors are treated equally by the Portuguese government and its population. Because they possess a residence permit, this is. They now have the right to utilise state services as a result. In this blog, we will discuss everything about European Golden Visa.
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What is a Golden Visa?
An immigration programme known as a “Golden Visa” offers high-net-worth individuals a residence visa in another nation in exchange for a sizable investment. On the other hand, a “Golden Passport” programme gives participants the citizenship and passport of the country in which they have invested. In both situations, the investor is not required to reside permanently in the nation in which they made their investment (typically). To qualify for a Golden Visa or Golden Passport in Europe, your investment must be rather significant; it can be anywhere between $100,000(INR 79 lakhs) and $1,000,000(INR 7.9 core). It can be overwhelming given the sum of money involved and the fact that the investment is in a foreign nation. Because they have a variety of expertise available, consultant firms like La Vida – Golden Visas, which offers consultations on international accountancy, investment property, residency and citizenship overseas, are fortunately a fantastic resource when it comes to golden visa programmes. It’s probably simpler to have all these experts in one location as most prospective foreign investors will require them in any case.
European Golden Visa
If you invest heavily in real estate or other assets in a European nation, you will be granted a European Golden Visa. As long as you keep up your investment, EU Golden Visas are provided in the form of a temporary residence permit that can be renewed continually (or until you become eligible for permanent residency). Spain, Greece, and Malta are some of the most popular EU Member States that provide Golden Visas or investment programmes. You can renew your residence permit without always residing in an EU member state. However, the majority of States will require real residency to earn permanent residence or citizenship. Receiving a Golden Visa does not ensure citizenship. You must reside in a certain EU State for a predetermined period to obtain citizenship there using a Golden Visa. Each State has its requirements for citizenship by investment, but you should typically expect seven to ten years of continuous presence.
European Golden Passport
Programs like the Golden Passport make it easier to get an EU passport in exchange for money. Golden Passport investors can become citizens of the EU without relocating to the country where they made their investment, although this process takes time. Portugal, one of the most well-known Golden Passport programmes in Europe, for instance, only provides citizenship five years after the first investment. The only EU members that permit investors who aren’t permanent residents to obtain a second passport are Portugal and Bulgaria.
Requirements for a Golden Visa/Golden Passport
Although the qualifications for a Golden Visa or Golden Passport vary per nation, they often include the following:
- The capital intended for investing must be yours.
- The cash had to be obtained legitimately.
- You must not have any prior criminal convictions.
- For the duration that you plan to reside in the EU State, you must be able to support yourself and your family.
Which EU Countries Offer Golden Visas and Investment Schemes?
EU countries that offer Golden Visas, Golden Passports, and other residency-by-investment schemes are:
Malta Permanent Residency Program (€100,000) (INR 80.89 lakhs).
Portugal is the easiest country in the EU to get citizenship in the EU for thanks to its Golden Visa scheme. Foreign nationals can get residency in Portugal with an investment in one of the following: Support of artistic production or maintenance of Portuguese cultural heritage (minimum €250,000(INR 1.98 Core).
The investor must have at least AED 10 million worth of public investment, either in the form of a company or an investment fund. Minimum 60% of the total investment should not be in the form of any property or land. The investor must not loan the invested amount.
In Greece and Spain, you need to spend more than half the year there for several years to be eligible to apply for citizenship.
Portugal Golden Visa leads to permanent residency after five years. If you manage to meet the stay requirement at the end of this period, which is around 35 days in total in five years, you can be eligible for permanent residency.
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