What Are Golden Visas and How People Get Them

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Golden visas are popular these days, and many people seek it as a life-changing chance. Let’s read this post to find out how to get the golden visas!

Recently, golden visas are gaining more and more popularity in public. Compared to other visa types, the “golden visas” offer better advantages, and the screening procedure is available for people of all nationalities.

However, there is hardly any guidance on preparing for golden visas. When searching for articles on the topic, you can only find some advertisements about golden visas and other related issues.

In this post, we will provide you with a specific way to get a golden visa. Please make sure to follow our guide to get a visa successfully without wasting much time and money. No need to waste more time; let’s start!

Source: Offshore Citizen

What You Should Know About Golden Visas

What Are Golden Visas?

Firstly, let’s start this topic with the definition of golden visas. In short, it is citizenship or permanent residency by investment. The program’s targets are wealthy foreign residents who want to acquire residency or citizenship in another country with a remarkable monetary contribution.

Apart from investing a substantial amount of money, you can also purchase a property to prove your financial ability. In this program, the aim is to target wealthy foreign investors who want to gain residency in other countries. The wealthier you are, the higher chance you get acceptance.

Source: ETIAS Visa Waiver

Golden Visas’ Odds

Is there any particular advantage for getting Golden Visas? Well, yes. First of all, the visa holder and their family members, including spouse and children, will also gain residency. You can renew the residence period as long as you can invest.

However, that is not the most significant pros of having a golden visa. The best advantage that only Golden Visa holders have is that they don’t need to move to the country issued their Golden Visa.

You can work and save up money in your home country and wait until the substantial amount is enough to be able to apply for an investment program and gain a golden visa in your “dream country.” Subsequently, you can move to the relevant country whenever you want to with full resident benefits like the citizens.

With such tremendous advantages, the number of applicants for a golden visa is skyrocketing. As a result, some countries now require people who demand permanent residency to have actual residence in that country for about five to ten years.

However, it’s unnecessary to relocate if you don’t need a permanent residency but just a temporary one.

People who have a Golden visa from an EU country will immediately receive benefits as other EU passport holders. In detail, you and your family members will automatically have the freedom to move, work and live throughout the Schengen Zone.

Furthermore, suppose the Golden Visa holders have successfully obtained citizenship in the Schengen country which issued their golden visa. In that case, they will also be considered EU residents and travel over hundred countries worldwide, visa-free. Sounds terrific, right?

Source: Europe Times

How Can I Get Golden Visas?

Requirements To Apply For Golden Visas

Each country will have its own set of requirements. Thus, you must look up information on the official Immigrants and Residency website to gain a Golden Visa in a particular country. In general, most countries will share the same requirements.

More specifically, the applicant must be able to invest a remarkable amount of money as his visa targets only wealthy foreigners. You must provide the financial sufficiency to prove your financial status when applying for the visa.

However, that financial resource must satisfy the second rule: it needs to be legal. The golden visa is unavailable for people with substantial investment from illegal business as that is “money laundering.”

The third rule requires applicants to obtain proof of their lack of criminal records or history. No one wants to accept a criminal to be their resident, right?

Finally, you need to prove that you can afford your family members when they intend to live in the relevant country.

Source: Hedge Think

Fees

As mentioned above, each country will have different requirements and procedures for obtaining a Golden visa. Thus the fee for issuing the permit is various either.

For instance, in Spain, Greece, or Portugal, the government offers residency for people who have significant investments in real estate, government agencies, or core industries. Hence, the cost will not exceed €500,000 ($ 608,730.90).

The requirements are slightly different in Switzerland, Italy, and Austria as the government seeks for your potential to create job opportunities or the ability to contribute top-tier achievements in your field.

FAQs

Which EU Country Offers Golden Visas?

Here is the list of EU countries that offer Golden Visa:

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

Can Non-EU Permanent Residents Get Golden Visas?

Yes, of course! This program aims to provide residency or citizenship in the relevant country through investment. Therefore, you will be suitable for the program as long as you can show your investment ability. The visa issue department only cares about your potential investment, not your citizenship.

Moreover, most people who apply for this program are non-EU residents. Suppose that they are EU citizens, they already have all the benefits of EU-passport holders like the freedom to move and work in the Schengen zone. Then why do they need to apply for the program that provides the services they already have right?

Source: Deutsche Welle

Wrapping It Up

Throughout this post, we have provided detailed and up-to-date information on how to get a golden visa. Remember to follow all of our below steps to gain more advantages when living in European countries.

We hope that this article offers you with resourceful insights on getting Golden Visas. Need more information about visas in general and travel guidance, safety tips, immigration consultation? Click here to learn more!

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