Europe residency through the golden visa programme

Europe residency through golden visa programme
June 4, 2021 | | Second Citizenship |

The Golden Visa programme is a Citizenship by investment or residency by investment programme, which is directed towards wealthy applicants who wish to reside in the EU regions by investing a specific amount of money in a property. Under the golden visa scheme, a holder along with his or her immediate family can acquire residency permits, which are renewable as long as the investment is maintained.

In some of the cases, or if not most cases, applicants with their immediate family members do not require anything to be present in the country issuing them the Golden visa. This simply implies that you do not have to relocate to a different EU country unless you wish. However, if you want to acquire PR or residency by investment, know that some countries may require your actual residency proof for around 5-10 years. The golden visa program for a European Union country is primarily desirable since it enables the holder with their immediate family members freedom of movement in the entire Schengen zone.

If your Golden Visa leads to EU citizenship, your resulting passport can offer visa-free travel to more than a hundred countries worldwide, depending on issuing states. You can always have a word with your visa consultant if you have certain doubts over the subject.

Can You Acquire EU PR by Investment?

The answer is yes. You can acquire PR by investment in any EU country if you have lived for five years there. Once you have received your PR permit, it automatically renews itself. However, things can be a bit different with some issuing countries. In this case, you might still have to file for residence permit renewal but not apply for the new one. Know that it is similar to an identity card.

Specific countries like Portugal do not have certain requirements where you have to stay to acquire a PR permit.

Investment Required for Golden Visa?

The sum of money you need to invest to be eligible for such a programme depends on the state of issuing. Some of the countries like Portugal, Spain, or Greece tend to offer residence by investing in government bonds, real estate, companies, or other industries operating within the country. In such cases, all this money required for certain investments does not go above €500,000.

Meanwhile, other EU nations like Italy, Switzerland, and Austria need a more comprehensive yet active investment process, like creating job opportunities. The investment required in such countries needs to be higher.

Can You Pay For Golden Visa Through A Loan?

The answer is no. The concerned individual cannot pay for the golden visa through the loan amount.  If one wishes to invest in obtaining residency, they have to prove that the money invested has to be against their name. So, no loan amounts are allowed for Golden Visa programme.

Moreover, if you wish to buy a property, a mortgage can make an exception. But, it also depends on the issuing country. You might still need to pay the minimum sum of money that is required upfront. However, remember that rules change when it comes to different nations.

Requirements for Acquiring a Golden Visa

In general, the golden visa’s eligibility requirements are as follows:

  • You need to own the sum of money that you need to invest
  • The amount of money needs to be acquired legally
  • No history of criminal records
  • You need to sustain yourself and your immediate family members for a specific period you want to live there

EU Countries That Offer a Golden Visa?

Countries offering a Golden Visa are:

  • Portugal
  • Spain
  • Italy
  • Greece
  • Switzerland
  • Malta
  • Austria
  • Belgium