How to Choose the Right Golden Visa Program to Invest in
Golden Visas are government programs that allow investors the right to live and work in a country in exchange for a substantial investment. European Golden Visa programs offer the right to residency or citizenship of a particular country. European citizenship grants its holders many perks. Investors from all around the world choose Europe because of the continents mobility advantages, security, lifestyle benefits.
However, countries’ Golden Visa programs widely differ amongst themselves. Some of them offer higher mobility while some others offer lower investment requirements. There are many variables in the path to residency or citizenship, and it is important to choose the essential qualities that go in line with the purpose of the application.
It might be difficult to compare the programs since they have many variables, but here are some hints to start with.
Temporary or Permanent Relocation
One of the qualities that are most desired is to achieve higher mobility, and Golden Visas do provide the applicants with this advantage. With European visa, access to Schengen-area countries is free, along with many others. If this is one the crucial elements for the applicant, then the desired program should involve fairly small residency requirements. Since the applicant desires to spend time abroad, strict residency requirements might become problematic. Portugal’s Golden Visa can be given as a good example for people looking for high mobility availability. This program only requires the applicant to stay at least one week in Portugal the first year and two weeks every two years thereafter to renew the visa. This is a perfect quality for investors looking to buy a holiday home.
On the other hand, programs like United Kingdom’s Investor Visa require that the applicant should make the UK home their primary home. This option, thus, is better for people looking to relocate permanently.
Investors’ priorities maybe different also in terms of their desired investment amount. Some investors might prefer to invest in real estate in exchange for a high amount while others may prefer to donate a much smaller amount. These are the variables the applicants should look into and decide for themselves. If the priority is to pay less, then Portugal’s lower minimum investment requirements might come in handy. However, if the applicant cares more about the fast processing and straightforwardness of the program, then Cyprus’ Golden Visa Program might be a great choice.
Citizenship vs. Residency
Some Golden Visa programs offer a guaranteed road to citizenship provided that the required investment had been made, but some others require several years of renewal under its laws of residency before granting citizenship. Some countries do not offer citizenship at all. Yet if the applicant’s home country does not allow for dual citizenship, these programs might be perfect for them.