What is Golden Visa: The meaning of the Golden Visa is very simple. It is a permanent residency investment programme or citizenship by investment. Having this visa is one of the quickest ways for wealthy families to settle abroad. People having a permanent residency in another country guarantees access to legal rights, having the right to work, live, study and receive all the healthcare services they need.
The Golden Visa holder provides an opportunity to relocate to a new country to people with high net worth and a diverse portfolio because of their capacity to increase market reach and enhance business and lifestyle opportunities.
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Benefits of Golden Visa
There are immense benefits to having Golden Visas. A candidate willing to apply must know the benefits and all other things that come with having the visa. We have curated a few of them for your reading. The benefits of a Golden Visa are as follows:
- People will have the chance as an alternative safe haven for career and education.
- People will also get access to a good lifestyle with excellent infrastructure.
- People get access to new markets and business opportunities
- Gives the ability to sponsor family members
- Gives security regarding the future in a new country.
Also Read: Is it Easy to Get a PR in Australia
Requirements for Golden Visa
Since there are a variety of countries that offer an opportunity for a Golden Visa, each country has its own set of requirements that a candidate must meet in order to be considered for a Golden Visa.
Most of the population interested in a Golden Visa usually prefers to invest in real estate. Due to its long-term durability, international real estate has been a consistently dependable asset class for international investors. Here are a few requirements for a Golden Visa:
- You must have your own money you wish to invest.
- You must be able to legally prove that you have the money.
- You must also have a clear criminal background.
- You must possess all the resources to maintain a life for yourself and your family members who will come with you. This is mandatory even if family members do not intend to live with you.
How to Apply?
Most people believe that one needs to buy a property/real estate abroad in order to apply for a Golden Visa. This is true as the majority of countries that grant Golden Visas offer this as the most common route. The real estate can be purchased for anything between $200,000 and over $2 million.
However, there are also many options for investment which can make you eligible for a grant of Golden Visa such as:
- Capital investment in any of the company’s stocks or shares.
- You can make a capital investment in the chosen country’s public debt or government bonds.
- You can also contribute to the chosen country’s scientific research or technological invocation.
After fulfilling any of the above-mentioned criteria, one can apply for the Golden Visa at the respective embassy. You can also choose to apply to any other relevant government body abroad. However, your first preference must be the embassy of that country.
Also Read: Is it Easy to Get a PR in UK?
Countries Offering Golden Visa
Applicants can examine the special advantages of various Golden Visa programmes offered by the countries and choose their path to alternative residence based on their unique demands and aspirations. A few countries offering Golden Visa programs are briefly listed below:
Australia is a well-regarded nation that ranks among the richest in the world. It is a developed, multicultural nation that ranks extremely high on the Human Development Index and provides its citizens with a high standard of living, economic freedom, enough civil freedoms and political rights protection.
Spain, which is located in Southwestern Europe, is one of the most well-liked vacation spots in the world. One of the most significant economies in Europe is that of Spain. Moreover, it is a full member of the Eurozone and the EU.
You can apply for permanent residency in Spain through the residency-by-investment programme, after 5 years of making investments. If you stay in the country for 10 years, you can eventually become a citizen. You must invest €500,000 in real estate in order to be eligible for Spain’s Golden Visa, but you may bring your family. Keep in mind that unless you are a permanent resident, you must renew your permission every two years.
The country is a diverse country offering an excellent blend of Eastern and Western traditions. The country has a world-class infrastructure that makes it one of the most business-friendly cities in the world. Hong Kong benefits from a free market, an open economy, and low taxes. It is a significant hub for global trade and finance.
United Arab Emirates (UAE)
The United Arab Emirates, a significant member of the Arabian Gulf, provides access to modern transportation, communications, and infrastructure. Due to its convenient connection to the rest of the world, the nation is a great site to start a business.
Within the Dubai Golden Visa scheme, the UAE offers 10-year and 5-year residency programmes. You must invest at least AED 10 million in public investments or possess extraordinary skills and abilities to be eligible for the 10-year option. You must invest a minimum of AED 5 million in a UAE property to qualify for the 5-year option.
Application Fee for Golden Visa
Every Golden Visa requires an amount of application fee for visa application. The application fee varies from country to country. The table below shows the application fee for the different countries. Applicants must go through the table once.
|Spain||INR 7,12,259 (approx)|
|UAE||INR 62,729 (approx)|
|Ireland||INR 1,33,536 (approx)|
|Greece||INR 26,708 (approx)|
The UAE offers a 10-year and 5-year residency programme. You need to invest at least 10 million AED 10 million in public investment and at least 5 million AED for the 5-year.
The Golden Visa offers several benefits to its holders such as living in the country, working in the country, having access to top-quality education and healthcare and tons of business opportunities.
The Golden Visa gives a chance to individuals and their family members to get a permanent residence permit or citizenship in another country. This can be done easily by purchasing a property in another country or making a large amount of investments.
We hope the above-mentioned information is helpful for the candidates who are willing to apply for Golden Visas. There are many Golden Visas offered by different countries from which candidates can choose effortlessly. However, please ensure you are eligible for the Golden Visa before you commence your application.
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