First, the basics, understanding the Golden Visa:
What is a Golden Visa?
In broad terms, the Golden Visa is a type of visa that allows individuals to obtain residency in a country by investing a certain amount of money.
The requirements and investment amounts vary by country, but they typically involve investing in real estate, government bonds, or other approved investments.
Golden visa programs are offered by several countries worldwide, including the United States, Canada, the United Kingdom, and several European countries. Countries in the Middle East and Asia offer it too.
The main benefits of a Golden Visa program include the ability to live, work, and study in the host country, access to healthcare and education, and travel visa-free to other countries.
The golden visa is becoming a popular way for high-net-worth individuals to access new markets and opportunities. However, as with any investment, it’s important to do your research and due diligence before deciding to participate in a golden visa program. Next, understand the program’s regulations, taxes, and fees and the host country’s political and economic stability. It’s also important to consult with a legal and financial advisor to ensure you fully understand the program and its implications.
It’s worth noting that, depending on the country, golden visa programs may also have some restrictions and requirements. For example, some countries may require the applicant to spend a certain amount of time per year or have a certain level of language proficiency. Some countries may also conduct background checks on applicants or have restrictions on certain types of criminal activities.
Now, let’s look into the countries that offer the best golden visa programs.
Which Countries Offer It?
The United States of America
The United States of America offers an EB-5 Visa program, also known as the “golden visa.” It is aimed at foreign investors who invest at least $500,000 in a new commercial enterprise that creates or preserves 10 full-time jobs for U.S. workers. This program allows the investor and their immediate family to live and work in the United States.
Canada offers a business investor visa program for foreign entrepreneurs who invest significantly in the Canadian economy and create jobs for Canadians. The program is divided into two categories, the Entrepreneur Stream and the Investor Stream.
The Entrepreneur Stream requires a personal net worth of at least CAD 600,000, and the Investor Stream requires a personal net worth of at least CAD 1,600,000 and an investment of CAD 800,000. Both streams require the entrepreneur or investor to participate in the management of the business actively.
The United Kingdom
The United Kingdom has a Tier 1 Investor Visa program for high-net-worth individuals who invest at least £2 million in the UK economy. This program allows the investor and their immediate family to live and work in the UK for a maximum of 5 years and 4 months. After this period, the investor can apply for an extension or permanent residency.
Greece offers a Golden Visa program for foreign investors who purchase real estate worth at least €250,000 in the country. This program allows the investor and their immediate family to live and work in Greece and grants access to the Schengen Area.
The United Arab Emirates
The United Arab Emirates offers a golden visa program for foreign investors who invest at least AED 10 million. And for entrepreneurs who wish to open new businesses. This program allows the investor and their immediate family to live and work in the UAE and grants access to other Gulf Cooperation Council countries. The residence visa is renewable every three years.
It’s important to note that some countries may have different requirements and limitations for their golden visa programs. Each country offers different benefits and restrictions for visa holders. Thus, checking the latest information from expert PRO services is always advisable.
Depending on the nation offering it, the particular advantages of a golden visa might vary.
However, some typical benefits include the following:
- The freedom to make all of one’s living, working, and studying in a nation without requiring further visas or permissions
- The possibility of obtaining citizenship and having unrestricted access to domestic travel
- Access to the nation’s public services, including healthcare, education, and others
- The capacity to invest in real estate or a business and maybe receive a return
- Having the option to sponsor family members to immigrate
- The potential for tax advantages like lowered rates or exemptions
Overall, a golden visa is a valuable document for individuals looking for an extended stay in a nation. It’s crucial to understand the requirements of the program before investing. If done rightly, it can reap many benefits.