What is the Golden Visa?
Each country that implements the Gold Visa Program exchanges one would say the free entrance to the country and, in each case, the sub-ownership by buying a property or making another type of investment within its borders. In the case of Greece, third-country investors can acquire a 250,000-euro property in Greece and thereby “buy” the entry permit in our country and therefore in Europe for five years. The Greek program does not require investors to stay in the country unless they want to get Greek citizenship where they have to live here for at least seven years.
Although many countries have this program with different benefits each. The golden visas of Spain, Portugal, Malta, Greece, and Cyprus are titled as promising but not all of the same successes in terms of revenue and impact. The reason is mainly about the benefits of each.
Latvia: One of the cheapest golden visas in Europe
At the same level in terms of real estate but more economical in terms of investment. Latvia is moving, which has one of the cheapest gold visas in its turn, while the immigrant investment program in Europe is highly successful. According to the Latvian Gold Visa Program, every citizen can invest 80,000 euros in a business or 250,000 euros to buy a property to get a residence permit for up to five years.
Cypriot citizenship with 2m euros
Cyprus offers two golden visas through real estate investments. One concerns permanent residence and one in nationality.
In the first case, applicants must invest 300,000 euros in a property to obtain a residence permit in the country, both themselves and their family members, with the sole obligation to visit the country once every two years. An advantage is also the limited bureaucracy of Cypriot democracy. The residence permit comes out within two months.
In the case of citizenship, Cyprus obliges interested parties to invest at € 2 or 2,5 million. Nationality is ready within six months, and Cypriot citizens can then travel, work, and study freely in all EU countries.
Investing 300,000 in government bonds from Hungary
Fifty thousand euros more costs the golden visa in the case of Hungary. Buying real estate or government bonds worth 300,000 euros acquires a residence permit for five years within four weeks and a travel passport for all Schengen countries. Citizenship application can be applied after eight years but under strict conditions including a language test.
Bulgaria exchanges Bulgarian state bonds.
An investment of € 511,000 in government bonds also requires Bulgaria to obtain a visa. The government bond portfolio is invested for five years, and at the end of the five years. The total amount will be returned to the investor without any accrued interest. Bond investors in Bulgaria’s residence programs can apply for Bulgarian citizenship after five years.
Property 650,000 for a golden visa of Malta
Successful citizenship concession program through investments with positive results also offers Malta. It announced its plans to allow wealthy foreigners to obtain a passport for an investment of 650,000 euros without the obligation to stay. Although the amount of the investment is quite high in relation.
For example, to that of Greece, it is the lowest for the acquisition of citizenship and not just a residence permit.
Despite the initial plans to raise revenue and € 3 million. The EU officials demanded that the Maltese state introduce a mandatory one-year stay in the country while increasing the investment amount to € 1.15 million.
According to statistics from the Latvian Ministry of Immigration. Latvia has issued 11,980 residence permits to foreigners who bought real estate in Latvia. These figures are quite shocking, as Portugal only issued 3,409 residence permits under the real estate (Source: SEF Portugal). All of which are nowhere near those of Latvia.
Spanish Gold Visa with 500,000 euros
Spain launched its 2013 golden visa plan a year before leaving the memorandum in 2014. According to law, citizens of other countries could invest EUR 500,000 in real estate to obtain a family residence permit in the country. The Spanish golden visa is renewed every two years, without having to live in Spain to renew or revise the residence permit. After five years, homeowners can apply for permanent residence, and after ten years of living and working in the country. They can acquire Spanish submissiveness.
Portugal: The successful example of a golden visa
Although the temporary residence permit. It is easily refurbished without having to live in a native country. A permanent residence permit or citizenship requires someone to live and work in the country, and many prefer the case of Portugal.
The Golden Visa Program in Portugal has proven to be the most popular in Europe. The program started in 2012 and is being actively promoted by the Portuguese government. Citizens of foreign countries can, with an investment of 500,000 euros in real estate, obtain a residence permit for their family including their children. The golden visa is renewed every two years with the only obligation on the part of the applicant to spend two weeks in the country within this time.
One of the most attractive choices resulting from the Portuguese visa is the possibility to apply for permanent residence after five years and citizenship after six years without having to live in the country. Although they are not required to stay in the country. They will have to prove their ties to the country by passing a basic language test. Taking Portuguese Citizenship. You can get a second passport that gives you the right to live, work, and study anywhere in the European Union and the Schengen countries.
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