Today, moving to a prosperous country in the European Union on the terms of an investment program is a common phenomenon for wealthy citizens. A golden visa is one of the ways to realize their dream, which provides legal permanent residence in another country for study, work, and life in comfort and security. However, you should fulfill several necessary conditions to get it.
What are the Golden Visa Programs (GVP)?
Many EU and Schengen countries offer this program with specific features. It is possible to participate in them after making financial investments in the local economy. You can also buy real estate, stocks, bonds, make charitable donations, and create companies. Anyone who meets such requirements can become an applicant and receive, for example, a Greece Golden Visa:
- has reached the age of majority;
- has no criminal record;
- has adequate funds earned legally outside the country where the Golden Visa will be applied for;
- is not a citizen of the EU, EEA or Switzerland;
- provides truthful information about himself and his family.
Such conditions are especially attractive for citizens of developing countries, investors and business owners, and individuals with British, US, and Hong Kong passports. Let’s consider the features of golden visa programs for Portugal, Greece, and Spain.
Portugal Golden Visa
The program has been open since 2012, bringing more than 6 billion euros to the Portuguese economy. Today, it is still as popular as ever, as it allows you to obtain citizenship of the country in no more than 5-6 years, being on the state’s territory only 7 days a year.
The minimum investment amount is 280,000 euros, one of the lowest investment thresholds among European countries. According to Vladlena Baranova, an expert on the investment program (Immigrant Invest company), the categories for investment include:
- real estate properties in some areas of the country;
- venture capital fund;
- company establishment;
- research and development – from 500,000 euros;
- charitable donations of at least €250,000.
Becoming a citizen of Portugal, the investor gets visa-free access to 180+ countries, can legally live and study in this country, have full access to all public institutions, including medical and educational, and run his own business with favorable tax conditions. You can also obtain a golden visa for other family members: children and parents.
Greece Golden Visa Program
The residence by investment program was launched in 2013 and continues to be in demand among foreign investors. All you need to do to obtain the coveted visa is to invest 250,000 euros in the local economy. However, this amount may be increased up to 500,000 euros in certain regions: this applies to the municipalities of Athens, Mykonos, Thessalonique, and Santorini. You can include your family in the application and get approval in 6 months. No restrictions exist on how long the applicant can stay in the country. He also receives benefits in education, health care, and the ability to travel in the Schengen zone without needing an additional visa.
It is possible to make investments in real estate or government bonds from 400,000 euros, as well as bonds or shares of investment companies in the local real estate sector or specific funds. It is worth noting that the Greek real estate market has started to grow in the last year, which indicates that investments in this sector are promising. It is allowed to renew residency under this program every 5 years.
Spain Golden Visa
The program provides several investment options, such as:
- 500,000 euros in real estate;
- 2 million euros in government bonds;
- 1 million euros in local companies.
The investor can choose residential or commercial real estate or their combination. In the case of business development, it is necessary to create jobs and promote social projects and scientific or technical innovation. You can transfer your capital to Spain or invest in promising business projects.
Obtaining the easiest golden visa in Spain can take 9-11 months, but you will have the right to use your passport only after 10 years. The first visa is issued for one year with the right to extend it up to 5 years. Then, you apply for a permanent visa.
The main benefits of participation in this program are visa-free regime with all Schengen countries, residence of the investor’s whole family in the country, education of his children, access to health care, favorable conditions for doing business, as well as excellent prerequisites for a comfortable retirement.
Which one to choose?
The above programs are similar in some ways and different in others. After detailed acquaintance with the features of each program, you will be able to draw conclusions on which one to apply. It would be best to weigh the pros and cons, consult with your family, and decide. If you have difficulty choosing, you can contact a specialized migration agency and obtain a detailed consultation and valuable recommendations. According to Immigrant Invest specialists, applicants usually make a quick decision with the help of immigration consultants and then only realize that the choice was correct. Golden Visas of Europe countries allow you to change your life for the better radically. So, it is time to act. Turn to professionals for help and be sure of a 100% result.
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