Golden Visas around the world are often caught up in negative media narratives that portray them as shady business dealings between governments and questionable individuals wearing trench coats.
However, this narrative could not be further from the truth; Golden Visas around the world are gateways to a world of new possibilities. In this article, we go over the truth behind Golden Visas and what countries are currently offering such programs.
Do you possess the Midas touch needed to grasp the allure of a Golden Visa?”
Introduction: What are Golden Visas?
Definition
A Golden Visa is a type of residency-by-investment program offered by countries to foreign investors and individuals seeking to obtain permanent or long-term residence. In exchange for residency, something of value is exchanged. This can be several things including but not limited to a real estate purchase, business investment, or government bond investment.
In this article we are going to go over the topics: What is a Golden Visa, Golden Visas around the world what countries are offering them, and the benefits of golden visas.
Golden Visas Around the World: What is their purpose?
Golden Visas are a type of investor visa that countries introduce to boost local economies or in an attempt to boost the population of skilled and wealthy individuals. There many different kinds of investor visas, Golden visas are only one type if you want to read about what countries in the world offer an investment visa you can read our blog post that lists every current investor visa in 2023. What is an Investor Visa?
Golden Visas are notably more common in Europe. However the “Golden Visa” is becoming much more of a global phenomenon, especially after the infamous Portuguese Golden Visa. Portugal was the first country in the world to use the term Golden Visa. During the great recession, Portugal’s housing market was gutted and was the lowest it had been historically in decades. Due to Portugal’s situation, they had to get creative to bring in new investments. Henceforth the golden visa was created to bring in new foreign investment. During the active time of the Portugal Golden Visa, the country has issued more than 10,000 golden visas as of 2023.
Since the success of Portugal’s golden visa, other golden visas around the world have popped up to try and attempt that same success.
Golden Visa Requirments
The requirements a country asks you to have to apply for a golden visa differ greatly depending on the country. But the common golden visa requirements are as follows.
- Investment Threshold: Golden Visa programs require applicants to make a financial investment in the host country. This could include investments in real estate, government bonds, businesses, or other designated sectors.
- Clean Criminal Record: Applicants typically need to provide evidence of a clean criminal record. This requirement ensures that individuals with criminal histories do not qualify for the program.
- Health Insurance: Many countries require applicants to have valid health insurance coverage.
- Minimum Stay Requirements: This means that visa holders need to spend a certain amount of time physically residing in the country each year to maintain their residency status.
- Source of Funds: Applicants are typically required to provide documentation proving the legitimate source of their investment funds.
This is not a list of universal requirements but they are the ones you will see countries requiring most often. Each country has different minimums and maximums for all the different requirements.
Golden Visas Around the World
There are hundreds of different investment visas around the world. For the Yonderpreneur list, we have curated only the countries that specifically call their investment visa a Golden Visa. Ultimately there are other investor visas out there exactly like Golden Visas countries just do not call them golden visas.
Portugal 🇵🇹
Portugal’s Golden Visa program offers residency to investors who make qualifying investments, such as job creation, or capital transfers. Portugal’s golden visa has been the most popular golden visa to date.
Spain 🇪🇸
Just across the border from Portugal Spain also has a golden visa. Spain’s Golden Visa program allows investors to acquire residency by investing in real estate, public debt, or job creation projects. It also has the option to apply for permanent residency after five years.
Greece 🇬🇷
Greece’s Golden Visa program offers residency to investors who make substantial investments in real estate, business, or bank deposits. The program has attracted interest due to Greece’s desirable holiday location.
Latvia 🇱🇻
Lativa is the first golden visa on this list that is not a country with beautiful beaches and nice weather. Latvia’s Golden Visa program grants residency to investors who make a qualifying investment in real estate or bank deposits.
United Arab Emirates 🇦🇪
The UAE is the home to the popular expat city of Dubai and the first country and only country on the list not in Europe. The UAE offers a unique Golden Visa program that provides long-term residency to investors, professionals, and their families. The program aims to attract talent and expertise in various sectors, including investors, entrepreneurs, scientists, and specialists.
Russia 🇷🇺
Russia’s golden visa is the most controversial and newest golden visa on this list. In an effort to bring in new money and skilled individuals into Russia. It has introduced a golden visa that allows foreign investors to obtain temporary residency by making a qualifying investment, usually in real estate or business ventures. This program offers a way to live in Russia and engage in business activities.
Current Golden Visa Countries Around the World
Benefits of Golden Visas Around the World
Travel Opportunites
The advantages of Golden Visas extend beyond gaining residency. Additional benefits encompass visa-free travel. For EU golden visas like Portugal, Spain, Greece, and Latvia, you’ll enjoy Schengen Area travel freedom.
Business Opportunities
An additional benefit that golden visas around the world give investors is new business opportunities. Once you are a resident in your golden visa country you have access to its business market where you could potentially expand your existing business into it.
Education Opportunities
Another benefit that is often overlooked is education benefits. Most Golden Visa investors are beyond the university education age. Regardless, as a new resident in your Golden Visa country, you now have access to its educational institutions. More importantly, your family would also gain access to these new institutions.
Golden Visa Investment Avenues
The most common and desired investment for Golden Visas is real estate purchase. Except for the Portuguese Golden Visa, which only recently removed the real estate option due to housing issues.”https://www.portugalist.com/golden-visa-survives/“
Most other Golden Visas around the world also include a real estate option, primarily because real estate is considered more than just an investment; it’s seen as a highly secure asset.
Apart from real estate, Golden Visas typically also provide options for investing in investment funds or launching your own business.
Golden Visas around the World: Conclusion
After going through our comprehensive research on the various Golden Visas available worldwide, you should now be aware that Golden Visas are far from the shady business deals often portrayed by the media. Instead, they serve as a gateway to transforming your business prospects, expanding your opportunities, and enhancing your overall life.
If you’re interested in acquiring a Golden Visa and want to embrace a more global lifestyle filled with abundant opportunities, feel free to reach out to us at Yonderpreneur. We’re here to offer you a consultation that dives into crafting a unique global plan tailored to you and your business.
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