We tell you what the Golden Visa is, how to get it, what requirements there are for candidates, and in which countries it is valid.
Azamat Nurmagambetov, city — Astana, traveler, founder of @nomadcenter
What is a Golden Visa
In the previous article, I talked about the Digital Nomad Visa, which gives you the opportunity to live in a certain country if you have a stable income outside of it. Today, I will share information about the Golden Visa, which is also issued to those who have income outside of the issuing country. However, there is a difference between the Digital Nomad Visa and the Golden Visa in terms of income level.
Golden visa is not really a visa, but a residence permit. It is issued in exchange for investment in the country's economy. Investments can be in the form of large cash investments, purchase of real estate, financial donations, starting a business or buying securities. In some countries, a Golden Visa can be obtained for investments in research and development activities or in the restoration and preservation of national cultural heritage.
The difference between a regular visa and a Golden Visa is that regular visas are valid for up to 90 days. Whereas a residence permit for investment is granted for a long-term period. Usually more than three months. Also to the holders of "Golden visa" there are no requirements in the form of knowledge of the language, history of the country, mandatory residence in the country. But there are tax benefits, and the probability of refusal is low.
Requirements
You must be of legal age, have no criminal record and have sufficient financial resources to make the required investment.
As an investor, you commit to investing a certain amount of money into the country's economy. In return, the government of the country provides you with the opportunity to obtain a permanent residence permit through a simplified procedure in the shortest possible time. There are two options for the process of obtaining a permanent residence permit.
In some countries, you are initially granted temporary residence status. Provided you follow the investment program for five years, maintaining investments in the economy, in the sixth year you become a holder of a permanent residence permit. And in the tenth year you can apply for citizenship.
In other countries it is possible to directly obtain permanent residence status without the preliminary stage of temporary residence.
Golden Visa in the EU countries and the USA
Despite the fact that many countries of the European Union have abandoned the program or made changes to the rules of processing Golden visas, some states still have the possibility of obtaining it in 2024. These are Greece, Cyprus, Italy, Spain, Portugal, Malta, Hungary.
Golden Visa in the USA is an EB-5 investment visa. It is one of the fastest programs for obtaining a Green Card in the U.S. for investments of $800,000 or more. This residence permit applies not only to the investor, but also to his or her spouse and unmarried children under the age of 21. After five years from the start of the investment process, the possibility of obtaining US citizenship opens up.
Benefits of the Golden Visa
It is important to emphasize that the benefits of having a Golden Visa may vary depending on the country granting this status, as well as on the conditions of the program. Among the privileges are the following:
— resident status and stable residence with resident status
— freedom of movement within the country, and if the country is a member of the Schengen zone — the right to free movement within it
— opportunities for entrepreneurship, work and study: Golden Visa gives the holder the right to engage in business, employment or study in the country
— tax benefits
— pathway to citizenship.
