Which countries are accessible with a Golden Visa?
The Golden Visa is an immigration program for wealthy individuals. It allows you to obtain a residence permit or even citizenship in one of the European countries.
To obtain a Golden Visa, you must invest in the economy of a specific country. The investment amount varies and can range from $250,000 to several million dollars. Investment options include: stocks and government bonds; job creation in the country; and activities that contribute to the scientific development of the region. Options may also vary depending on the chosen country.
If you apply for a Golden Visa, you and your immediate family members (spouse and children) will receive a residence permit that can be extended indefinitely as long as you maintain your investment.
Italy, Malta, Cyprus, Portugal, Greece, and Spain are participating in the program. Simply purchase real estate or invest in the economy of one of these countries.
Greece Golden Visa Program
The program was established by the Greek Cabinet in 2013. Greece's Golden Visa entitles investors to reside in the country and travel freely within the Eurozone and the Schengen Area for 5 years.
Program conditions:
Residence permit processing time: up to 3 months;
Minimum investment: €250,000;
Available investment types: real estate;
Participants: the visa holder's spouse and children under 23, parents, and parents of dependent spouses;
Residence in the country is not mandatory.
To obtain a Greek passport, you must live in the Republic for at least 7 years.
Malta Golden Visa Program
The current version of the simplified program for obtaining a temporary residence permit in Malta has been implemented since March 2021.
Conditions:
Residence permit processing time: 4 to 6 months;
Minimum investment: €150,000;
Available investment types: securities;
Residency in the country is not mandatory;
Participants include spouse and children under twenty-six, parents, and dependent grandparents.
Citizenship can be applied for after five years of continuous residence in the country.
Portugal Golden Visa Program
The Portuguese Golden Visa was established in 2012.
Eligibility:
Residency processing time: 6 to 9 months;
Minimum investment: €350,000;
Available investment types: real estate, business, and stock shares;
Residency in the country for at least 14 days every two years is mandatory;
Participants include spouse and children under twenty-six, and dependent parents aged 65 and over.
Citizenship can be obtained after exercising the right to a temporary residence permit under a simplified procedure.
Cyprus Golden Visa Program
A fast-track process for obtaining a residence permit in Cyprus has been in place since 2013. In addition to the mandatory minimum investment of €300,000, investors must also deposit at least €30,000 in a Cypriot bank in the form of bonds. An additional €5,000 must be added to the deposit investment for each additional program participant.
Terms and Conditions:
Residence permit processing time: 2 to 3 months;
Minimum investment: €300,000;
Available investment types: real estate;
Residence in the country is not mandatory;
Participants include the spouse, children under 25, parents, and dependent parents-in-law.
To obtain a Cypriot passport, applicants must reside in the country for at least 7 years and one year of continuous residence immediately prior to application.
Spain Golden Visa Program
The Spanish government established the Golden Visa program in 2013.
Program Terms and Conditions:
Residence permit processing time: 2 to 3 months;
The minimum investment is €500,000;
Available investment types include real estate, bank deposits, securities, and company shares;
Residence in the country is not required;
Participants include spouses, children under twenty-six, and dependent parents.
Program participants may be granted a temporary residence permit after five years, but must reside in the country for at least six months per year. Citizenship can be obtained after ten years.
Visa Validity
A Golden Visa for an EU country is particularly desirable because it grants the holder (and their family members) freedom of movement throughout the Schengen Area, which comprises 26 European countries. If the Golden Visa ultimately leads to EU citizenship, the resulting passport will offer visa-free travel to over a hundred countries worldwide, depending on the issuing country.
However, to be eligible for a Golden Visa in Europe, your investment must be quite significant. We're talking about hundreds of thousands and even millions of dollars.
Duration of validity
People who receive a Golden Visa can stay indefinitely in the country where it was issued. In other Schengen countries, they are allowed to stay for up to 90 days, subject to leaving the country for six months afterward.
A special condition exists for Bulgaria, Croatia, and Cyprus. A 90-day stay is also permitted in these countries, but these days are not counted toward the Schengen Area.
The Golden Visa itself is valid for the entire period the holder owns real estate or business in the countries participating in the program. However, it must be renewed at intervals determined individually for each country.
If you're planning to obtain a residence permit, invest in a country's economy, or purchase foreign real estate, we invite you to a consultation with our company. During a personal online meeting, we'll discuss your questions in detail and create a step-by-step action plan for you.