A “Golden Visa” happens to be an immigration scheme that provides rich people with a residence permit in a foreign country on the basis of a huge investment. As far as the “Golden Passport“ is concerned it is also a scheme that offers people the citizenship and passport of the county in which they ploughed in good sums. It is advisable to note that the investors are not generally mandated to live all the time in the country in which they have chosen to invest.
European Golden Visa
People get a European Golden Visa if they buy a property or invest good amounts in a European country. EU Golden Visas happen to be temporary residence permits, which you can renew upon their expiry till the time you keep your investment or get permanent residency. The EU Member States offering Golden Visas or investment-based temporary residency include Spain, Greece, and Malta among others.
Most importantly, investors are not required to reside for a substantial period in the EU State to renew the residence permit. But, in order to acquire permanent residence majority of the States mandate residency for a particular period. Also, citizenship does not come with Golden Visa and to attain the same a person must stay in the country of his or her investments for a substantial period.
When it comes to Golden Passport schemes, investors don’t have to reside full-time in the EU State they have invested to gain citizenship, but acquiring EU citizenship takes time. For example, Portugal, a country with one of the most famous Golden Passport schemes in Europe, provides citizenship only five years after the initial investment.
Portugal and Bulgaria also happen to be the only EU Member States which offer the prospect of a second passport to investors who are holding temporary residence permits.
Money Required To Acquire Golden Visa
Well, this is slightly difficult to say in one go, as the amount to be put in for getting Golden Visa varies from one country to another.
For instance, certain EU member states such as Spain, Portugal, or Greece provide residence by investing in real estate, companies, government bonds, or certain industries in the country. In such scenarios, the amount required for investments does not go beyond €500,000.
Whereas there are other EU member states such as Switzerland, Italy, and Austria which demand higher sums and the investor should also create job opportunities.
Eligibility Criteria For Investors To Get Golden Visa & Passport
The money to be invested must have been earned legally
There should not be any history of criminal records
The investor should be able to take care of their family members adequately for the period they wish to live in the EU State
EU Member States Providing Golden Visa & Investment Programmes
EU countries providing Golden Visas, Golden Passports, and other investment-based residency initiatives are:
- Spain
- Portugal
- Greece
- Italy
- Malta
- Switzerland
- Austria
- Belgium
- Germany
- Bulgaria
- Ireland
