f you’re looking to move to Europe and gain residency through an investment program, a “golden visa” could be your best bet. Golden visas offer residency permits to non-EU citizens who invest in the country’s economy. In this article, we’ll explain what a golden visa is, which countries in Europe offer them, the requirements for each country’s program, and the pros and cons of each program.
Portugal
Portugal’s golden visa program is one of the most popular in Europe. The program requires a minimum investment of €280,000 in property, or €350,000 in real estate located in urban regeneration areas, or €500,000 in any other type of real estate. Alternatively, you can invest €350,000 in a fund that supports small and medium-sized businesses or €1 million in a Portuguese bank. Once you have invested, you must maintain the investment for a minimum of five years.
The advantages of Portugal’s golden visa program include the ability to travel freely within the Schengen area, no requirement to reside in Portugal, and the option to apply for permanent residency after five years. However, there are some disadvantages to consider, such as the language barrier if you don’t speak Portuguese and the fact that Portugal’s economy is heavily dependent on tourism.
Spain
Spain’s golden visa program requires an investment of at least €500,000 in property. Alternatively, you can invest €1 million in Spanish government bonds, €1 million in shares of Spanish companies, or €2 million in Spanish bank deposits. The advantages of Spain’s program include the ability to work and study in Spain, as well as the option to apply for permanent residency after five years. However, the real estate market in Spain can be unpredictable, and the process of buying property can be complex.
Greece
Greece’s golden visa program requires an investment of at least €250,000 in real estate. The advantages of Greece’s program include the low cost of living and the option to apply for permanent residency after seven years. However, the Greek economy has struggled in recent years, and there can be political instability.
Malta
Malta’s golden visa program requires an investment of at least €250,000 in government bonds, stocks, or property. The advantages of Malta’s program include the low tax rates and the option to apply for citizenship after one year of residency. However, Malta is a small country with limited job opportunities, and the cost of living can be high.
Cyprus
Cyprus’s golden visa program requires an investment of at least €300,000 in real estate. The advantages of Cyprus’s program include the low tax rates and the option to apply for citizenship after seven years of residency. However, Cyprus’s economy has also struggled in recent years, and there can be political instability.
Austria
Austria’s golden visa program requires an investment of at least €2 million in a business or €10 million in government bonds. The advantages of Austria’s program include the high standard of living and the option to apply for citizenship after 10 years of residency. However, the investment requirement is very high, and the cost of living in Austria is also high.
Disclaimer
It’s important to note that the information provided in this article is for informational purposes only, and all golden visa policies are subject to the local laws of the respective countries. It’s essential to contact the relevant authorities for the latest information and any updates to their respective golden visa policies.
Golden visas can be an excellent way to gain residency in Europe, but it’s crucial to consider the advantages and disadvantages of each program. Additionally, factors such as the economic condition, work opportunities, lifestyle, and average household expenses in each country should be taken into account before making a decision. Always consult with local authorities and seek professional advice before proceeding with any golden visa application.
