The Golden Visa Program is an initiative offered by several European countries that grants residency by investment.
Which European Countries Offer a Golden Visa?
Europe has become a hotspot for Golden Visa schemes due to its economic stability, relaxed lifestyle and its diverse business opportunities. Several European nations have introduced these programs to attract foreign investments. The result has been an increase in the European Union’s population of more than 6,000 citizens and nearly 100,000 residents.
The European Golden Visa Program is a residence-by-investment scheme, which means that in return for a substantial investment to a country within the scheme, non-EU citizens can then have residency within that country. Spain, Portugal, Greece, Italy, Malta, and Cyprus all have specific requirements.
Spain
Spain’s Golden Visa program requires investors to make an investment in real estate, starting from 500,000. A residence permit is for 3 years, which can be renewed for 5 extra years.
Portugal
Portugal had one of the lowest investment options, which started at 350,000. However, in February 2023, Portugal announced that by the end of 2023, they would be removing their Golden Visa scheme.
Greece
The Golden Visa Greece offers starts with investments of 500,000 for the Greater Area of Athens, the Municipality of Thessaloniki, and the islands of Mykonos and Santorini. After 7 years of residency, residents can then apply for citizenship. If you are thinking of applying for the Golden Visa Greece provides, you should seek professional guidance.
Italy
Italy’s rules differ greatly from those of other countries. Instead of investing in property, investments of 2 million can be made to government bonds. Alternatives also include investing 250,000 in start-ups, making a philanthropic donation of 1 million or investing 500,000 in corporate bonds and/or shares.
Cyprus
Applicants must make a 300,000 investment in property, and renew their application every two years. Cyprus offers the cheapest investment options.
Malta
Malta offers investment for citizenship and investment for permanent residency. It’s advisable to seek professional guidance, as applications can be complex and differ from other countries listed in this article.