The Golden Visa is the fastest and most convenient way to immigrate to other countries that are interested in the inflow of foreign capital. The Global Citi-Zen experts offer a fresh ranking of popular destinations that investors choose to obtain a residence permit and alternative citizenship through investment. Keep reading.
About Golden Visa Programs
Everyone can apply for a Golden Visa in the EU, the main requirement is the absence of European citizenship. The holder of such a visa is endowed with many advantages and privileges, which later can be used by members of their family. In the last ten years, more than 6,000 applicants have been granted second passports and 100,000 people have received residence permits via Golden Visa Programs.
Golden Visa provides access to education in the best European universities, and also allows you to freely travel around Europe, and in the future provides an opportunity to apply for full citizenship. This type of residence permit is issued in such EU countries: Greece, Spain, Portugal, Cyprus and Malta.
In this article, we briefly review the most popular countries with golden visas in Europe. So if you are interested in this issue and want to get additional details, click here for more information.
Portugal
The possibilities of the Portuguese Golden Visa are very wide: it allows you to live, study and work in a prosperous European country. The demand for a residence permit in Portugal has only been growing in recent years.
Investments in a residence permit in Portugal start from €280,000. The application is considered for three months. In-country requirements: 7 days in the first year and 14 days every 2 subsequent years.
What the program gives:
- EU resident status;
- Residence for the whole family: spouse(s), children, parents;
- Free movement within the Schengen area and beyond;
- Permanent residence and EU citizenship after 5 years residence permit;
- Tax optimization under the NHR scheme;
- Income from the rental of real estate.
Greece
The popularity of the Greek residence permit can be explained by flexible conditions for obtaining it. But there is one nuance: the Greek Golden Visa does not give the right for hiring work and is designed for those investors whose source of income will be outside Greece. However, there is also a great advantage of this European investor visa: the program provides several real estate objects for investment, and Greece is quite an attractive tourist destination, so the investment will soon pay off on rent and begin to generate income.
The Greek Golden Visa is one of the most affordable golden visas in Europe. Investments in residence permit in Greece start from €250,000. Processing time is 2 months. It is not required to stay in the country before and after obtaining a residence permit. Renewal every 5 years.
What the program gives:
- EU resident status;
- Residency for the whole family: spouse and children;
- Free movement within the Schengen area and beyond;
- Income from the rental of real estate.
Cyprus
Cyprus is not part of the Schengen area, so the permanent residence of Cyprus does not allow you to move freely around Europe. Also, a resident does not have the right for hiring work in this country. The Golden Visa of Cyprus is chosen by those who are attracted by its tax regime and who are interested in Cyprus itself.
Investments in permanent residence in Cyprus start from €330,000. The processing time is 2 months. It is necessary to fly to the island to submit biometric data after obtaining permanent residence. In the future, it is required to visit Cyprus once every 2 years.
What the program gives:
- Residence for the whole family: spouse (s), children under 25 years old, parents of the investor and their spouse(s);
- Tax-free regime on non-Cyprus income, inheritance;
- Income from the rental of real estate;
- Eligibility for citizenship after 5 years.
Spain
The Spanish residence permit for investment is not inferior in popularity to the Greek one, although the amount required for investment is twice as much — €500,000. The processing time is 60 days. There are no residence requirements if the applicant does not need permanent residence.
What the program gives:
- EU resident status;
- The right to work;
- Residence for the whole family: spouse(s), children, parents;
- Free movement within the Schengen area and beyond;
- Income from the rental of real estate.
Malta
The Golden Visa of Malta is the youngest program for permanent residence by investment — it has been operating since 2017. Starting investment amounts €175,000. Estimated time for receipt is 120 days. There are no requirements for permanent residence.
What the program gives:
- EU resident status;
- Residence for the whole family: spouse(s), children, parents, grandparents;
- Free movement within the Schengen area and beyond;
- Tax regime without double taxation.
What is the Cheapest Golden Visa in Europe?
The cheapest golden visa in Europe is available in Malta. You pay only €175,000 to participate in the MVRP program, which allows you to get a golden visa in a short time through financing the public debt of the host country. This option does not require an investment in Malta property, but you will have to rent local accommodation, spending €10,000 per year.
What is the best European Golden Visa?
To obtain the greatest benefit, Global Citi-Zen experts recommend choosing programs that allow you to receive a residence permit/permanent residence for buying real estate that is growing in price. One of Europe’s cheapest golden visa schemes and the most popular worldwide is the program of Greece.
An applicant can buy a property in Greece for €250,000 and start leasing the asset immediately after the purchase, expecting a substantial resale value increase as real estate prices in Greece in recent years are growing steadily. You don’t need to permanently live in the country to keep your Greek Golden Visa, which is another big advantage.
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