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The Golden Visa Programs

The Golden Visa Programs

The concept of a "Golden Visa" program is a way for countries to attract foreign investment by offering limited or permanent residency (or citizenship) in exchange for a significant investment in the country's economy, most often through direct purchases of real estate property.

These programs are also known as "investor visas" or "citizenship-by-investment" programs.

The exact requirements for a Golden Visa program vary by country, but generally, applicants must make a substantial investment in the country's economy, such as by buying property, starting a business, or investing in government bonds. In return, they are granted a limited or permanent residency or citizenship. This may allow the person to participate in that countries's visa-free travel, access to education and health care, and favorable tax treatment.

Golden Visa programs are popular among wealthy individuals and investors who are looking for a way to gain residency or citizenship in a foreign country, for example Chinese nationals who desire a second home outside of China; American retiree's seeking a second home with dual citizenship opportunities; "digital nomads" who are looking for a permanent home.

As a way to help boost a countries's economy and to attract foreign investment Golden Visa programs have proliferated. Some of the countries that offer Golden Visa programs include Portugal, Spain, Greece, the United States, Canada, and Australia.

Golden Visa Requirments

GREECE

  1. Investment: The primary requirement is to make an investment in Greece of at least €250,000 in real estate, such as a house, apartment, or commercial property.

  2. Funds Transfer: The funds used for investment must be transferred to Greece from a foreign bank account in the name of the applicant, or the applicant's spouse, or jointly. The funds must be transferred through legal banking channels, and evidence of the transaction must be provided.

  3. Application: The applicant must apply for the Golden Visa at a Greek consulate or embassy in their home country or in Greece. They will need to provide the required documents, including proof of investment and evidence of no criminal record.

  4. Biometrics: The applicant and their family members over the age of 12 must submit biometric data, such as fingerprints, at a Greek consulate or embassy.

  5. Residency: The applicant must obtain residency in Greece by staying in the country for a minimum of 7 days within the first year of receiving the Golden Visa.

  6. Renewal: The Golden Visa is initially valid for 5 years and can be renewed for an additional 5-year period as long as the investment is maintained.

It's important to understand that the requirements for the Greek Golden Visa program may change over time, so it's recommended to check the latest updates from official sources before applying.

More about Greece

Embassy of Greece in Washington DC - 2217 Massachusetts Ave NW, Washington, DC 20008

PORTUGAL

The requirements for the Portuguese Golden Visa program are as follows:

  1. Investment: The primary requirement is to make an investment in Portugal. There are several investment options available, including:

  • Real Estate: An investment of at least €500,000 in real estate. This can include one or more properties, and the investment can be financed with a mortgage.

  • Capital Transfer: An investment of at least €1 million in a Portuguese bank account, a Portuguese company, or a Portuguese investment fund.

  • Job Creation: An investment of at least €350,000 in a Portuguese business that creates at least 10 jobs.

  • Research: An investment of at least €350,000 in research activities carried out by a Portuguese public or private scientific research institution.

  • Art and Culture: An investment of at least €250,000 in Portuguese art, culture, or national heritage.

It's important to note that the requirements for the Portuguese Golden Visa program may change over time.

Portugal Embassy in Washington DC – 2012 Massachusetts Ave NW, Washington, DC 20036

SPAIN

The requirements for the Spanish Golden Visa program are as follows:

  1. Investment: The primary requirement is to make an investment in Spain. There are several investment options available, including:

  • Real Estate: An investment of at least €500,000 in real estate, such as a house, apartment, or commercial property.

  • Business Investment: An investment of at least €1 million in a Spanish business.

  • Public Debt: An investment of at least €2 million in Spanish government bonds.

  • Bank Deposit: An investment of at least €1 million in a Spanish bank account.

  1. Application: The applicant must apply for the Golden Visa at a Spanish consulate or embassy in their home country or in Spain. They will need to provide the required documents, including proof of investment and evidence of no criminal record.

  2. Biometrics: The applicant and their family members over the age of 6 must submit biometric data, such as fingerprints, at a Spanish consulate or embassy.

  3. Residency: The applicant must obtain residency in Spain by staying in the country for a minimum of 183 days per year.

  4. Renewal: The Golden Visa is initially valid for 1 year and can be renewed for an additional 2-year period, and then 5-year periods as long as the investment is maintained.

Requirements for the Spanish Golden Visa program may change over time, so it's recommended to check the latest updates from official sources before applying.

Embassy of Spain in Washington DC – 2012 Massachusetts Ave NW, Washington, DC 20036

Countries with no Golden Visa, but a different avenue of residency

AUSTRALIA

Not a Golden Visa Country, but does utilize an investment form standard Visa

Australia only offers a standard visa system that requires applicants to meet various requirements based on the type of visa they are applying for.

The most common types of visas for investors and business people are:

  1. Business Innovation and Investment Visa: This visa is designed for people who are willing to invest in or start a new business in Australia. The visa has several streams, including a Significant Investor stream, which requires an investment of at least AUD 5 million, and a Premium Investor stream, which requires an investment of at least AUD 15 million.

  2. Investor Retirement Visa: This visa is for self-funded retirees who are 55 years or older and want to retire in Australia. The visa requires an investment of at least AUD 750,000 in Australian assets.

  3. Employer-Sponsored Visa: This visa is for people who have a job offer from an Australian employer. The employer must be willing to sponsor the applicant, and the applicant must meet various requirements, including relevant skills and qualifications.

It's important to note that the requirements for these visas may change over time, so it's recommended to check the latest updates from official sources before applying.

Australia Embassy in Washington DC – 1145 17th St Nw Suite GP410, Washington, DC 20036

CANADA

Canada does not have a Golden Visa program, but it does offer various immigration programs for investors and business people. The most popular programs are:

  1. Start-up Visa Program: This program is designed for entrepreneurs who want to start a new business in Canada. To qualify, the entrepreneur must have the support of a designated Canadian organization, such as a venture capital fund, angel investor group, or business incubator.

  2. Quebec Investor Program: This program is for investors who are willing to make a passive investment of CAD 1.2 million in a Quebec-based business or in a government-guaranteed investment. Applicants must have a net worth of at least CAD 2 million and meet other eligibility requirements.

  3. Provincial Nominee Program: This program allows Canadian provinces and territories to nominate foreign investors and entrepreneurs for permanent residency. Each province has its own specific eligibility requirements and selection criteria.

Requirements for these programs may change over time, so it's recommended to check the latest updates from official sources before applying.

Embassy of Canada – 501 Pennsylvania Avenue NW 3rd floor, Washington, DC 20001

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