If you’re looking to live or work in another country, or perhaps just want the benefits of having a residence permit, there are several Golden Visa opportunities in Europe. Read on to find out more about how Golden Visas work, how to obtain one, and which countries currently have the most attractive programmes.
Golden Visa Explained
Put simply, a Golden Visa programme offers residency in a country in exchange for a substantial investment in that country. Your residence will give you several rights, including the right to live, work and study in that country. Golden Visas are one of the quickest and simplest ways for an individual or family to become legal residents in another country, without needing to live in that country permanently for a set period of time.
Golden Visas can be issued if you purchase property or make a sizeable investment in a country. A European Golden Visa grants you a temporary residence permit for a European country, which you can then renew (providing you maintain your investment) until you become eligible for permanent residency. In most cases, you don’t need to continuously live in the country to renew your residence permit, however, if you intend to apply for permanent residence or citizenship later down the line, having a Golden Visa doesn’t guarantee you’ll obtain this.
Requirements
Each country has its own requirements and eligibility criteria for a Golden Visa. Generally, you will be expected to:
- Make a considerable investment in the country using money that you legally own.
- Have no criminal record.
- Have the means to support yourself (and your family, if applicable) whilst living in the country.
A Golden Visa will usually be issued to you and any immediate family members (for example, your spouse and any children you have together.)
How much money you need to invest in order to be granted a Golden Visa varies widely from country to country. In some cases, a real estate investment is sufficient, in others, you might be required to invest in companies or even create job opportunities through business. Specialist immigration lawyers will be able to advise and guide you in obtaining your Golden Visa.
Top 5 Golden Visa Investment Programmes in Europe
Many EU countries offer Golden Visas to investors, however here are 5 of the most advantageous programmes.
Malta
Malta has one of the most favourable Golden Visa programmes. With a minimum investment requirement of just €150,000, it offers investors permanent residence without any residency requirements, providing they have confirmed capital of €500,000 and meet all the criteria.
Greece
Greece’s Golden Visa programme offers a five-year residence permit, which can be renewed, in exchange for as little as a €250,000 investment in real estate, which can then be rented out.
Portugal
With a Portuguese Golden Visa, you can live, work and study in Portugal if you choose, and after five years you’ll have the option of becoming a citizen or permanent resident. It has one of the lowest investment thresholds in Europe (€280,000) and you only have to spend a minimum of seven days per year in the country to qualify.
Spain
Unlike many other Golden Visa programmes, you don’t need to pass a language or culture test to obtain a Spanish Golden Visa and the application process is one of the quickest, taking around 2-3 months on average, however, you do need to make a significant investment of at least €500,000.
Italy
For a minimum investment of €500,000, the Italian Golden Visa programme grants a two-year residency permit, which can be extended a further three years. After ten years in the country, you can apply for naturalisation and become an Italian citizen. The scheme offers several options, including investment in real estate, government bonds, charitable donations or creating or investing in a start-up business.