Golden Visa Schemes are the residency programs introduced by multiple countries to get a residence permit in return for a real estate investment. Some countries offer a residency of two years and some for 5 years initially. This initial duration is extendable if the investment is maintained and further this residency is leading to citizenship.
During the year 2020, while the world was going all upside down but one industry that was least affected was the immigration industry. Ever wonder why? The only reason is that the pandemic has created a realization among people to understand the value of a Plan B. People with high net worth now understand that the best way to secure their assets is to invest in international real estate. European countries offering the best golden visa schemes promise great returns on real estate investment. According to multiple sources, the world has witnessed an increase of 25% in residency applications during one last year.
Popular Residency Programs in Europe
Major European countries with strong economies offer Golden Visa Schemes such as Portugal, Greece, and Spain. Portugal ranks as the world’s 6th strongest passport whereas Spain is the 2nd biggest tourist attraction worldwide. Greece has always been one of the most favorite tourist destinations. All three countries are located in a region that is a hub of business opportunities & the golden visa schemes are operating for a long time now.
The European region owns the world’s best educational institutions. Being a resident of any of these countries gives you easy access to those institutes with very less or no tuition fee. If we talk about health facilities, most of these countries offer free medical to their locals. All three programs are leading to citizenship in longer-term under certain terms & conditions. Let us share an overview and benefits of each Golden Visa Program to make it easy for you to choose the best one for you.
Portugal Golden Visa Scheme
Portuguese Golden Visa is an investor’s favorite program because it offers multiple investment options. There is no other scheme that gives more than two investment options. Also, the good news for investors is that they can still buy properties in two major cities Lisbon and Portugal. This extension is valid till December 2021 right now. Other than this, there are four other investment options to get Portugal Golden Visa in just 6 to 9 months.
- Applicants can make an investment of €280,000 in regional or countryside areas.
- Another option is to invest €350,000 in refurbished and renovated properties in Lisbon or Porto.
- Applicants can also make an investment of €250,000 National Heritage of Portugal.
- The last option is to create at least 10 jobs and maintain these jobs for 5 years.
Apart from these various investment options, there are more benefits of getting a Portuguese Golden Visa which are mentioned below:
- No physical residency requirement during the processing time.
- Access to some great education & healthcare facilities.
- If the investment is sustained, applicants are eligible for permanent citizenship after 5 years.
- After attaining citizenship, applicants can travel visa-free to 175+ countries.
- Inclusion of the whole family as dependents.
- Guaranteed returns of investment.
Spanish Golden Visa Scheme
Spain is one of the most magnificent places to live. A blend of multiple cultures gives you a very classic vibe but economically developed & modernized business industry. Spain has rescued its heritage in a way that it has now become one of the biggest reason for tourists to visit the country. Investors also understand the value of having an opportunity to live and work in Spain. That’s why even being the Spanish Golden Visa a bit expensive comparatively, people invest & buy real estate property in Spain.
The most exciting part of getting a Spanish Golden Visa is that the processing time is just 14 days which clearly means you become a global resident in just two weeks. There are two investment routes to get a Spanish residency visa golden visa program.
- Invest 500,000 EUR and make a property purchase in Spain. Investors need to maintain this property for 5 years to make their chance strong enough to get citizenship in the future.
- Another way to get Spanish Golden Visa is to get a 51% share hold in a recognized international company in Spain or anywhere in the world.
There is a list of benefits you can get if you choose to go with a Spanish Golden Visa. One of them is mentioned above which shortest processing time is.
- Spain is a very secure country to live in, criminal activity rare is very low & state ensure the safety of residents.
- The country is in a region that has the best education opportunities & healthcare facilities. Keeping the current situation in mind, it’s very important to relocate to a more stable country.
- Spain has a very stable economy and ensures multiple health, old age & many other benefits to their residents.
- You being a golden visa holder can take your family to Spain and they are allowed to live and work in the country for better wellbeing.
- The program is leading to citizenship & after that, you can travel visa-free to the whole Schengen and European regions.
Greece Golden Visa Scheme
Greece is a mesmerizing place to experience a dream lifestyle. With a golden passport, you are able to make this dream a reality. If you are a travel enthusiast, you must have Greece on your bucket list. Apart from a very subtle and luxurious outlook, Greece has a much sustained economic system which caters to its people’s needs really well. In terms of security, Spain is a very safe country to live and work in.
There is only one investment option Greece offers but a very economical one. Investors need to make a real estate investment of EUR 250,000 and get a residency for the whole family. There are many reasons why you should opt for a Greece residency.
- Greece’s golden visa requires only one day stay per year which is minimum as compared to any other program.
- Your golden visa application includes the whole family as dependents.
- After sustaining the real estate investment for 5 years, you will be eligible to apply for citizenship.
- Processing time for Greece’s golden visa approval is just 60 days.
- Living in Greece gives you access to the world’s best education and healthcare facilities.
- Being a resident of Greece, you are free to move around and work in Europe.
- Greece has a very low taxation rate comparatively.
