There are several options for citizenship by investment or residency by investment around the world. Each program has its advantages and disadvantages, sometimes making it difficult to choose among them. There is no “one size fits all” solution. It ultimately depends on your specific needs and preferences.
As citizenship by investment schemes become more and more popular, new residency by investment programs emerge. This makes the market more competitive and increases the variety. In this article, we’re going to explain what Golden Visa is and which countries offer this scheme.
What You Will Find in this Article
What is a Golden Visa
Golden Visa is a permit that allows individuals and their dependent family members to get residency in a country. Today many European countries offer Golden Visa programs to individuals who are looking to get residency, and eventually even citizenship.
Although the required investment amounts vary, Golden Visa schemes are typically based on real estate acquisition, investment fund subscription, capital transfer, or donation. Once you decide on your investment type, you can start your application process as the main applicant.
Most Golden Visa programs allow family inclusion which means that you’re able to include your immediate family members. Some countries also allow the inclusion of grandparents and parents-in-law.
What makes the Golden Visa so attractive is that it doesn’t require you to move to the country you’re getting a Golden Visa. If you have business interests in your home country and are planning to get a Golden Visa just as a “Plan B”, note that you can keep your status only by visiting the country on a required frequency.
Golden Visa schemes might lead to citizenship depending on the country’s residency requirements. In some countries, it’s five years. In some, you might be eligible only after 10 years of full-time residency.
The below table gives a quick wrap-up of Golden Visa countries and their requirements.
Type: Residency by Investment
Minimum Investment Amount: €500,000
Application Process: 6+ months
Type: Residency by Investment
Minimum Investment Amount: €250,000
Application Process: 2-3 months
Type: Citizenship by Investment
Minimum Investment Amount: €690,000
Application Process: 6-8 months
Type: Residency by Investment
Minimum Investment Amount: €500,000
Application Process: 2-3 months
Type: Citizenship by Investment
Minimum Investment Amount: €400,000
Application Process: 3-4 months
Benefits of Golden Visas
There are various advantages of getting a golden visa, including;
- New business opportunities
- European citizenship eligibility
- Educational opportunities
- Residency rights
The benefits are explained further below based on each program’s unique features.
Golden Visa Program Requirements
Countries with a Golden Visa scheme have their own set of requirements. However, there are some basic requirements such as:
- Having a clean criminal record
- Proving that you’ll use your own funds to make the investment
- Keeping the investment for a certain period of time (time may vary depending on the country)
- Demonstrating that you’ve acquired your funds legally
Some countries might require you to show that you have a certain amount of net worth, separate from the amount you’re going to invest.
How to Get a Golden Visa
The first step in the Golden Visa application is to decide on your investment criteria. While real estate acquisition is the most popular route, the capital transfer is getting a lot of attention, too. Some Golden Visa schemes also include options such as fund investment, job creation, and donation.
Once you decide on your investment criteria, you can start your application. The processing time for a Golden Visa is two to nine months.
If you’re planning to make a Golden Visa application, it’s wise to speak to professionals before you commit any funds or make an investment.
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Golden Visa Application Process
The application process for each Golden Visa program differs. However, there are some steps that each program requires. We’ve prepared the below table to give you an understanding of the application process.
You speak to Golden Visa experts and lawyers to have a better understanding of the process.
Depending on your needs and criteria, you choose your investment type.
You prepare all the documents and submit them to your lawyer.
The authorities check your eligibility for the program.
After providing biometrics, you receive your first residence card.
Depending on the program, you apply for renewal after one to five years.
If your chosen program is a residency by investment scheme, you can be eligible for citizenship after a certain period of time.
Golden Visa Countries and Leading Golden Visa Programs
The application process for each Golden Visa program differs. However, there are some steps that each program requires.
You can explore the popular Golden Visa programs below:
Portugal Golden Visa
Portugal Golden Visa program, launched in 2012, is one of the most popular residency by investment programs in Europe. Provided that you’re not a European Union (EU), European Economic Area (EEA), or Switzerland citizen, you can apply for the program through a qualifying investment in Portugal.
The Qualifying Investments for Portugal Golden Visa
- Portugal Golden Visa Fund option with a minimum fund investment of €500,000
- Creation of a minimum of 10 full-time jobs in a registered Portuguese company, €500,000
- An investment of €500,000 to R&D within Portugal
- A minimum donation of €250,000 to national heritage, arts, or culture
Benefits of Portugal Golden Visa
- You get the right to live and work in Portugal
- You can travel visa-free within the Schengen Area
- If you meet the requirements, you can be eligible to apply for European citizenship in 5 years counting down from your first residency application, regardless of approval
- You can add your family members to the program, thanks to family reunification
- You’re only required to stay in Portugal only seven days per year to keep your Golden Visa
- Portugal offers an affordable lifestyle compared to many European countries and the USList Item
- You get the opportunity to invest in an EU country with high potential
The process of getting a Portugal Golden Visa differs.
Yes
Residency by Investment
Possible within 5 years
Citizenship by Investment
Spain Golden Visa
The Golden Visa program in Spain was launched in 2013. Spain’s rich culture, delightful cuisine, sunny beaches, and desirable lifestyle make it a top destination for relocation. If you’re not a citizen of a country in the European Union (EU), European Economic Area (EEA), and Switzerland, you can apply for the Spanish Golden Visa program through a qualifying investment.
The Qualifying Investments for Spain Golden Visa
- A minimum investment of €1 million in a Spanish company
- Capital transfer of €1 million in Spain
Benefits of Spain Golden Visa
- The process is fast
- You can travel visa-free within the Schengen Area
- You can live, work, and study in Spain
- You can include your family members
- You’re not required to stay in Spain to keep your Spanish Golden Visa
Spain doesn’t require residence for the renewal of the residency permit. It only requires the residents to enter the country at least once every year. There is, however, a residency requirement for Spanish citizenship.
Spain’s Golden Visa process may differ.
Yes
Residency by Investment
No
Citizenship by Investment
Greece Golden Visa
Launched in July 2013, the Greek Golden Visa program grants a five-year residency visa through an investment in the country. If you’re above the age of 18, a non-EU citizen, and have a clean criminal record, you can apply for the program.
The Qualifying Investments for Greece Golden Visa
- €250,000 investment in Greek real estate as long as you convert commercial properties into residential use or restore registered buildings, no matter the location or size
- A minimum €400,000 by purchasing property in Greece in rural areas or in less densely populated cities and islands, in case your investment is in a single property of at least 120 m2
- A minimum €800,000, by purchasing property in Athens, Thessaloniki and islands with more than 3,100 inhabitants
Benefits of Greece Golden Visa
- You get the right to visa-free travel within all Schengen Area countries
- You get the right to live in Greece
- You can access public health services and the education system in Greece
- You’re required to make a low investment compared to the other golden visa programs in Europe
- You can add your spouse, children, parents, and parents-in-law
- You’re not required to stay in Greece to keep the Golden Visa
A five-year residency visa is granted, and it’s renewed every five years, as long as the property investment is sustained. Greek citizenship can only be granted after seven years of residency in the country. The application process for the Greece Golden Visa takes some time, and it depends on many reasons.
Yes
Residency by Investment
No
Citizenship by Investment
Italy Golden Visa
The Italy Golden Visa program is also known as the “Investor Visa for Italy.” The Italian government t first introduced its residency program in 2017 for the promotion of foreign direct investment. Non-EU nationals can apply for the Italy Golden Visa offers to obtain a residence visa through the required investment in Italy. The residence permit is granted for two years, and after renewal, the validation is three years.
The Qualifying Investments for Italy Golden Visa
- Italian government bonds: €2 million investment
- Italian limited company: €500,000 investment
- Italian innovative startup: €250,000 investment
- Philanthropic initiative in Italy: €1 million donations
Benefits of Italy Golden Visa
- Eligibility of Italian citizenship after 10 years of residency
- Chance to benefit from a special tax regime
- Access to free travel within the Schengen Zone
- Opportunity to include your family in your application
- Right to work for you and your family in Italy
- The advantage of the Italian National public healthcare
Yes
Residency by Investment
No
Citizenship by Investment
Hungary Golden Visa
You can apply for Hungary Golden Visa to get a long-term residency permit with a 10-year validity. Also called a Guest Investor Residence Permit, this program lets you upgrade your residency permit to permanent residency if you live in Hungary full-time for five years.
The Qualifying Investments for Hungary Golden Visa
- Real Estate Investment Fund of €250,000
- Real Estate Acquisition of €500,000
- Non-refundable Public Trust Donation of €1 million
Benefits of Hungary Golden Visa
- European residency is a fast option among other European residency programs.
- The life-long residency that you only need to renew every ten years.
- Travel freedom with visa-free access to the countries in the EU Schengen zone.
- The flexibility of having no residency requirement.
- Tax advantage with no tax obligation if you are not a resident.
Yes
Residency by Investment
No
Citizenship by Investment
Cyprus Residency by Investment Program
To benefit from the quickest and most assured path to European citizenship, applicants need to invest €2.15 million in real estate in Cyprus. Cyprus Citizenship by Investment program offers EU citizenship within six months after applying. A passport from Cyprus allows its holder to work, travel, study, and live anywhere in the EU. The citizen can have visa-free access to countries like Germany, France, and the UK. Moreover, the investment amount can be reduced to €500,000 after three years spent in the Cyprus CIP.
Please note that the Cyprus citizenship by investment program ended at the end of 2020. It’s unclear if it’ll be activated again in the future.
Popular Citizenship by Investment Programs
Besides the Golden Visa programs, which are a type of residency by investment programs, some of which offer routes to citizenship, there is also direct citizenship by investment countries.
Malta Citizenship by Investment Program
Malta’s Citizenship by Investment Program is a scheme aimed mainly at high-net-worth individuals. Also known as Malta Individual Investor Programme (MIIP), the program requires a minimum contribution of €600,000 to the national development fund set up by the government. In addition, you’ll be required to invest €10,000 in government-approved financial instruments and commit to a purchase or rent of a property in Malta for five years. The property value for purchased real estate needs to be a minimum of €700,000. After one year of residency, you can apply for Maltese citizenship and obtain a European passport. A Maltese citizen can live, study, and work anywhere in the EU.
Malta also has a separate residency program. The investment amount is much more affordable; however, note that it doesn’t lead to Maltese citizenship.
The Qualifying Investments for Malta Citizenship by Investment
- Property purchase in Malta that is to be held for a minimum of five years and worth a minimum of €700,000
- A residential lease agreement for 5 years signed with a minimum annual value of €16,000
- Donation Requirement
- Contribution of €600,000 from the main applicant with a requirement of 36 months of residence
- Contribution of €10,000 to an organization that has received Community Malta Agency approval
- or
- Contribution of €750,000 from the main applicant with a requirement of 12 months of residency
- Contribution of €10,000 to an organization that has received Community Malta Agency approval
Yes
Residency by Investment
Yes
Citizenship by Investment
St. Kitts and Nevis Citizenship by Investment Program
St. Kitts and Nevis Citizenship by Investment Program, launched in 1984, is the first citizenship by investment program. The scheme accepts investments for real estate or donations. To benefit from the program, you’ll be required to make a minimum donation of $250,000 to the Sustainable Growth Fund (SGF). Alternatively, you can make an investment of $400,000 in real estate in St Kitts and Nevis. Once you invest in the program, you can get your passport in a maximum of six months
The Qualifying Investments for St. Kitts and Nevis Citizenship by Investment
- Real Estate Option
- $400,000 investment in a real estate development that has received government approval. The property will need to be held for a minimum of five years
- $800,000 investment in a real estate development that has received government approval. The property will need to be held for a minimum of seven years
- Donation Option
- Donate $250,000 for a single principal applicant to the Sustainable Growth Fund (SGF)
No
Residency by Investment
Yes
Citizenship by Investment
Antigua and Barbuda Citizenship by Investment Program
The citizenship by investment program of Antigua and Barbuda provides an economic passport to investors. There are a few options you can choose to benefit from the program. You can choose to contribute $230,000 to the Antigua National Development Fund. Another option is investing $1.5 million in establishing a business. Alternatively, you can invest $400,000 in a government-approved real estate project (which can be reduced to $200,000 for connected investors). Antigua and Barbuda passport grants visa-free travel to over 153 countries, including the Schengen area. Moreover, the country requires only five days of residence per year. You can get Antigua and Barbuda citizenship and a passport in around six months.
The Qualifying Investments for Antigua and Barbuda Citizenship by Investment
- Real Estate Option
- $400,000 investment in a real estate development that has received government approval. The property will need to be held for a minimum of five years
- Donation Option
- Donate $230,000 to the National Development Fund (NDF)
No
Residency by Investment
Yes
Citizenship by Investment
Dominica Citizenship by Investment Program
Citizenship by investment program in Dominica is available through two options. The first is by making an economic contribution (donation) to the country under the government investor visa program. The second option, available since January 2015, is through real estate investment. With a minimum investment threshold of $200,000, the Dominican passport is among the cheapest. Once you make your application, you can expect to get your passport in three months.
Until 1993, it wasn’t possible to gain Dominican citizenship without residing in the country. This rule has been changed by the Dominican government. Through its changes, Dominica’s citizenship by investment program became not only the cheapest but also one of the most flexible options. Holders of Dominican passports can travel freely to around 144 countries, including the UK and the Schengen zone.
The Qualifying Investments for Dominica Citizenship by Investment
- Real Estate Option
- $200,000 investment in a real estate development that has received government approval. The property will need to be held for a minimum of five years
- Donation Option
- Donate $200,000 to the Economic Diversification Fund
No
Residency by Investment
Yes
Citizenship by Investment
Türkiye Citizenship by Investment Program
To become a citizen of the Republic of Türkiye, there are several options investors might benefit from. You can make an investment of at least $400,000 in real estate. You can also invest in a company with a minimum capital of $500,000. Finally, you can deposit $500,000 in State investment instruments or state banks operating in Türkiye, provided that you keep the investment for three years. Creating jobs for at least 50 people is another option you can prefer to get Turkish citizenship by investment.
The process of Turkish citizenship by investment usually takes around three to six months.
The Qualifying Investments for Türkiye Citizenship by Investment
- Acquisition of a property with a minimum value of $400,000 and a three-year holding period
- Purchase of government bonds worth at least $500,000 and held for at least three years
- Establishment of a business that generates employment for at least 50 people
- A minimum $500,000 capital investment
- $500,000 deposit in banks operating in Turkey to be kept for a minimum of three years
- $500,000 investment in a real estate investment fund share or venture capital investment fund to be kept for a minimum of three years
No
Residency by Investment
Yes
Citizenship by Investment
United States Investor Visa
Through investment in government-approved projects across the United States of America, investors can get the EB-5 visa. This visa gives permanent U.S. residency. It also provides you with the right to access education, live, work, study, and retire in the USA. You can also get your initial investment back upon the completion of the project. The US government requires you to reside in the USA for at least half of each year.
As a program with a rather long processing period, you can expect to get your residency in 20-26 months.
The Qualifying Investments for United States Immigrant Investor Program
- $1.05 million investment in a qualifying commercial enterprise
- $800,000 investment in a Targeted Employment Area (TEA) with the promise of creating at least 10 full-time jobs for US citizens within 2 years
Yes
Residency by Investment
No
Citizenship by Investment
As a result of all the benefits and investment options, Golden Visa, residency by investment programs, offers many alternative ways of opportunities. Be it having access to free travel within European countries or the route to European citizenship, as long as the investor meets the requirement, there are promising advantages.
Frequently Asked Questions
What country is best for Golden Visa?
Portugal is frequently cited as the “best” option for people looking to obtain residency through investment. More than 20,000 applicants received their Golden visas as of 2023. In Portugal, people have the option of buying a home or making capital transfer investments. Greece is another good option thanks to its low investment threshold, which is still €250,000 in 2024.
Who can get a Golden Visa?
The first requirement for EU Golden visas is that you are non-EU/non-EEA/non-Swiss. Apart from this, the minimum age is 18 for the main applicants. Being able to provide a clean criminal report and bringing the funds from abroad (not from the country of interest) are among other requirements.
Which country gives the fastest citizenship?
If you’re going to apply for citizenship by investment, Turkey can be a good option. The country usually grants citizenship in three to four months. Malta citizenship is also attainable in one year if you’re ready to make the qualifying investment.
Which country gives free citizenship?
Free citizenship is only possible through certain circumstances, such as by birth, ancestry, long-term residency or asylum seeking. For example, a US passport is given to children who are born within the country’s borders, even if the parents are non-US. Most countries also grant citizenship if you choose to live there for a minimum of five years.
What is the cost of a Golden Visa?
The cost of a Golden Visa depends on the program you choose. For example, in Portugal, the fund investment amount starts from €500,000.
What are other popular Golden Visa Programs?
Residency by investment applicants are also interested in the Malta permanent residence program, the Singapore global investor program, the UK innovator founder program, and other visa programs for a variety of reasons, such as work visas and student visas, as well as the Australia global talent independent program and the Canada start-up program.
