What a golden visa is and why a foreigner needs it

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What a golden visa is and why a foreigner needs it

Visas, regardless of their type, entitle foreigners to freely travel to selected countries and stay there for a certain time. But besides the usual ones, there are, so to speak, VIP visas that have more power and give holders a wide range of privileges. These include the Golden visa. Next, we tell you how to get it and what advantages it has.


Find out all about the rules for obtaining a work visa, its types and the documents required here.


What is a golden visa

Golden visa is a kind of pass that immediately (without lengthy procedures) gives the right to obtain a residence permit in a particular state or even citizenship. To own such a gold card, one must either buy a house in the chosen country, or make a large investment, or make a generous donation.

Immediately after all the conditions are met, golden visa holders and their families become legal residents of the country, can enjoy all local privileges, have access to healthcare, and in some cases even obtain citizenship.


Advantages

Golden visa opens up many new opportunities for its holders. In particular, foreign citizens who have a Golden Visa of a particular state can enjoy the following benefits:

  • immediately obtain residency in the country without the need to permanently reside there;
  • bring your family to the country (family members can also get a permanent residence permit);
  • do business in the country;
  • have access to health care, education and other services enjoyed by legal citizens;
  • travel freely within EU countries without the need for an additional visa.

The golden visa for the most part does not give the right to instantly acquire the citizenship of the country, but can significantly simplify this procedure.


How to get requirements

Each country has its own requirements and different minimum investment amounts for obtaining a Golden Visa. In general, applicants must meet the following conditions:

• be over 18 years of age;

• personally own the funds that will be used for investment;

• support the investment for the required period;

• prove that the money was obtained legally;

• not have a criminal record;

• have financial resources sufficient to live in the country and support a family.

One of the most common ways to become a Golden Visa holder is to purchase real estate in a selected foreign country that issues these types of visas.

Other ways to get a gold pass are also available:

• investment in shares/shares of a company operating in a foreign country;

• capital investment in the country's public debt or government bonds;

• creation of jobs in the country;

• contribution to the country's scientific or technological innovation;

• generous donation.

However, the above methods are not available in all states. Information needs to be corrected. After investing, you must contact the embassy to apply for a golden visa.


Countries where you can get a golden visa

Today Golden Visas are issued by 23 states. Below is a list of these countries with minimum investment amounts.

Among the EU states, golden visas are issued by:

  • Portugal - 280 thousand euros for the purchase of real estate;
  • Italy - 500 thousand euros;
  • Greece - 250 thousand euros for the purchase of real estate;
  • Austria - 10 million dollars for business or 3 million for the state fund;
  • Germany - 360 thousand dollars;
  • Spain - 500 thousand dollars for the purchase of real estate;
  • Ireland - 1 million euros;
  • Malta - 98 thousand dollars.

The Golden Visa program is also valid in the following countries:

  • Anguilla - $150,000 to an approved government fund;
  • Antigua and Barbuda - $400,000 to buy real estate, $10,000 to the National Development Fund, or $1.5 million for a business;
  • Canada - $1.2 million;
  • Grenada - 150 thousand dollars to the National Fund;
  • New Zealand - at least $10 million in approved investment options;
  • Singapore - 2.5 million;
  • Saint Kitts and Nevis - $150,000 to the National Trust or $200,000 in real estate;
  • Saint Lucia - 100 thousand dollars;
  • Switzerland - from 150 thousand to 1 million Swiss francs in annual taxes;
  • Cayman Islands - $2.5 million in real estate;
  • United Kingdom - £2 million;
  • Turkey - 250 thousand dollars in real estate;
  • United Arab Emirates - AED 10 million or be a person of exceptional talents and skills;
  • United States of America - $900,000 in targeted employment or $100,000 to $200,000 in an existing business;
  • Vanuatu - 130 to the state fund or 200 thousand dollars in real estate.

By the way, among all the listed countries, only Malta, in addition to the Golden Visa, also issues a Golden Passport. That is, its owner can acquire citizenship within 12-36 months. The minimum investment to obtain a Golden Passport is $750,000.