EUROPEAN GOLDEN VISAS
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European Golden Visas enable investors and their families to become residents and eventual citizens—if they so choose--of a European country in exchange for an economic investment. Depending on the country of choice, this investment can entail real estate, government bonds, private equity bonds, or a new business venture.
Golden Visa Benefits
Some of the benefits associated with a European Golden Visa include:
Golden Visa Requirements
Depending on the country of choice, requirements vary. However, most applicants to a European Golden Visa program will need to meet the following criteria:
The applicant cannot be part of the European Union (EU) or part of the European Economic Area (EEA).
Three Popular Golden Visa Programs
Spain, Portugal, and Greece offer the most popular Golden Visa Programs. With their high quality of life, diverse landscapes, beautiful beaches, distinct cuisines, and sunny weather, Spain, Portugal, and Greece are considered favorite destinations for expats. Also, the quick, straightforward processing and easy renewal of visas make them popular.
Spain
Spanish residency is granted to applicants and their families in exchange for an investment of 500,000 euros (approximately 503,000 American dollars) into Spain’s economy.
After acquiring the Golden Visa, an initial residency card is issued—valid for one to two years. Once obtained, the residency card can be renewed for five years after its initial expiration. After five years of residency, permanent residency may be applied for, and after 10 years, citizenship.
Investment Options
The following are the most common investment options afforded to individuals seeking a Golden Visa in Spain:
Portugal
The Portuguese Golden Visa Program grants five years of residency in exchange for maintaining a real estate investment of at least 280,000 euros (281,000 American dollars) for a minimum of five years. After the five-year period, investors and their families are eligible for permanent residency in Portugal. Citizenship can be acquired through the naturalization process—and a test that assesses basic language proficiency and knowledge of the country’s culture and history.
Investment Options
The following are the most common investment options afforded to individuals seeking a Golden Visa in Portugal:
Purchasing government-selected real estate valued at 500,000 euros
Investing 400,000 euros worth of real estate in a low business or population density area
Investing 350,000 euros (or 280,000 euros in a low-density area) in a rehabilitation project
A 350,000-euro investment in an existing business that creates a minimum of 10 full-time jobs for at least three years
Greece
The Greek Golden Visa Program offers non-EU/EEA nationals residency and possible citizenship in exchange for a contribution to the Greek economy. With no residency requirements and a short two-month processing period, an applicant and family can qualify for a Golden Visa. The Golden Visa holder and family qualify for citizenship within seven years—provided they pass the Greek citizenship test (that assesses basic language proficiency and knowledge of the country’s culture and history).
Investment Options
The following are the most common investment options afforded to individuals seeking a Golden Visa in Greece:
Consultation
The process of acquiring a Golden Visa can be unnecessarily complicated for those who are not familiar with the process. For that reason, potential investors often use relocation or migration firms to make the acquisition of Golden Visas as simple, quick, and economical as possible.
Sources (2022). Golden Visa Program Worldwide. Visa Guide.World. https://visaguide.world/golden-visa; (2022, August 4). Golden Visas Europe. Global Citizenship Solutions. https://www.globalcitizensolutions.com/golden-visas-explained; Kittleson, Kim. (2014, June 4) Where is the Cheapest Place to Buy Citizenship? BBC News. https://www.bbc.com/news/business-27674135.
Golden Visa Benefits
Some of the benefits associated with a European Golden Visa include:
- Residency and eventual citizenship for the investor and family
- Living and working in a safe, stable, and high standard-of-living country
- Access to excellent health care
- Access to elite education systems
- Travel through Europe without a visa
Golden Visa Requirements
Depending on the country of choice, requirements vary. However, most applicants to a European Golden Visa program will need to meet the following criteria:
The applicant cannot be part of the European Union (EU) or part of the European Economic Area (EEA).
- The investor must invest a certain sum and maintain the investment for a specified time.
- The investor must stay for a certain number of days in the country (amount of days varies from country to country).
- The applicant must have and maintain a clean criminal record.
Three Popular Golden Visa Programs
Spain, Portugal, and Greece offer the most popular Golden Visa Programs. With their high quality of life, diverse landscapes, beautiful beaches, distinct cuisines, and sunny weather, Spain, Portugal, and Greece are considered favorite destinations for expats. Also, the quick, straightforward processing and easy renewal of visas make them popular.
Spain
Spanish residency is granted to applicants and their families in exchange for an investment of 500,000 euros (approximately 503,000 American dollars) into Spain’s economy.
After acquiring the Golden Visa, an initial residency card is issued—valid for one to two years. Once obtained, the residency card can be renewed for five years after its initial expiration. After five years of residency, permanent residency may be applied for, and after 10 years, citizenship.
Investment Options
The following are the most common investment options afforded to individuals seeking a Golden Visa in Spain:
- Purchasing real estate valued at a minimum of 500,000 euros
- Depositing at least one million euros in a Spanish bank
- Investing at least one million in Spanish business shares
- Investing at least two million euros in Spanish government bonds
- Donating two million euros to a government development fund
- Beginning a business that generates employment and contributes to Spain’s socio-economic development
Portugal
The Portuguese Golden Visa Program grants five years of residency in exchange for maintaining a real estate investment of at least 280,000 euros (281,000 American dollars) for a minimum of five years. After the five-year period, investors and their families are eligible for permanent residency in Portugal. Citizenship can be acquired through the naturalization process—and a test that assesses basic language proficiency and knowledge of the country’s culture and history.
Investment Options
The following are the most common investment options afforded to individuals seeking a Golden Visa in Portugal:
Purchasing government-selected real estate valued at 500,000 euros
Investing 400,000 euros worth of real estate in a low business or population density area
Investing 350,000 euros (or 280,000 euros in a low-density area) in a rehabilitation project
A 350,000-euro investment in an existing business that creates a minimum of 10 full-time jobs for at least three years
Greece
The Greek Golden Visa Program offers non-EU/EEA nationals residency and possible citizenship in exchange for a contribution to the Greek economy. With no residency requirements and a short two-month processing period, an applicant and family can qualify for a Golden Visa. The Golden Visa holder and family qualify for citizenship within seven years—provided they pass the Greek citizenship test (that assesses basic language proficiency and knowledge of the country’s culture and history).
Investment Options
The following are the most common investment options afforded to individuals seeking a Golden Visa in Greece:
- Purchasing real estate valued at a minimum of 250,000 euros
- Investing at least 400,000 euros in Greek government bonds
- Contributing 400,000 euros in bonds or shares in a venture capital fund, equity fund, or mutual fund based in Greece
- Investing 800,000 euros in shares, corporate bonds, or Greek Treasury bonds
- Contributing a minimum of 400,000 euros in securities
- Depositing 400,000 euros in a Greek bank
Consultation
The process of acquiring a Golden Visa can be unnecessarily complicated for those who are not familiar with the process. For that reason, potential investors often use relocation or migration firms to make the acquisition of Golden Visas as simple, quick, and economical as possible.
Sources (2022). Golden Visa Program Worldwide. Visa Guide.World. https://visaguide.world/golden-visa; (2022, August 4). Golden Visas Europe. Global Citizenship Solutions. https://www.globalcitizensolutions.com/golden-visas-explained; Kittleson, Kim. (2014, June 4) Where is the Cheapest Place to Buy Citizenship? BBC News. https://www.bbc.com/news/business-27674135.
