Getting your golden visa: how Smart Currency helps

A ‘golden visa’, whereby you acquire legal residency in a country by making an investment, has been a lifeline for many British nationals post-Brexit, as well as other non-EU nationals looking to live and even work in European countries. But it can also be a complex financial transaction, requiring clear accounting procedures and protection from currency risk.

If you are considering applying for European residency, such a Portugal golden visa or a Cyprus golden visa, or are one of the many people seeking a golden visa in Dubai, you are planning a major financial and lifestyle decision. It’s one that can provide long-term residency, investment opportunities and even a pathway to citizenship.

But it is not as simple as paying a bill overseas. There are accounting procedures to follow and anti-money laundering (AML) regulations to abide by, as well as the risks that come with fast-moving exchange rates.

Here is a step-by-step guide to getting your golden visa from initial planning to long-term residency. Along with a realistic timeline, it shows the unique help that Smart Currency offers in supporting you through each stage of the golden visa journey,.

Step 1. Choose your destination and check eligibility

Timescale: one to two weeks

The first step in the process is choosing where you wish to apply. Each country’s golden visa or residence-by-investment programme offers unique benefits but comes with requirements. Your choice will depend on your priorities — whether you value low minimum investment thresholds, favourable tax treatment, or the lifestyle that comes with European residency.

Two important considerations are:

Do you wish to go on to claim citizenship in that country? In some countries it can take five years to convert residency to citizenship while in others just a few months.
How long do you wish to spend in that country per year? In Portugal you need only stay a few weeks per year while in the USA you will need to remain for three years in five.
Do you wish to work there? Some golden visas allow work, others don’t.

How Smart helps

At this early stage, Smart Currency Exchange can guide you through each country’s currency and payment regulations. Our specialists help you understand how to structure your funds for a smooth transfer once your investment is ready, giving you time to plan without surprises later on.

Step 2. Select your investment route and prepare documents

Timescale: two to 12 weeks

Once you have chosen your destination, you will need to decide how to invest and begin preparing your paperwork. Many golden visa applicants choose to buy property abroad as their investment if the country allows it. However, many countries have closed down this option and other options include investing in government-approved funds, making a business investment or donating to a national development programme. Each option has its own documentation requirements, from proof of investment funds and bank statements to police certificates and health insurance.

How Smart helps:

We can open a Virtual IBAN (VIBAN) in your name, allowing you to hold your chosen currency without the need to open a local bank account. This helps satisfy anti–money laundering (AML) rules and ensures your funds are secure and traceable throughout the process. You can also fix an exchange rate in advance via a currency forward contract. This protects your investment from fluctuations in exchange rates while your paperwork is being prepared.

Step 3. Submit your application

Timescale: one day to one week

When your documentation is complete and verified, your legal representative will submit the golden visa application to the relevant government authority. This step is typically straightforward, but the exact process will differ between countries.

Once the application is submitted, timing becomes important. Exchange rates move daily, and this will affect how much your investment ultimately costs in your home currency. Or you can fix the rate in advance so you know exactly what it will cost.

How Smart helps:

Smart Currency Exchange works with you to manage currency exposure from the moment your application is lodged. We offer practical tools such as forward contracts, which allow you to fix an exchange rate ahead of time, ensuring certainty over the final cost of your investment.

Step 4. Government review and approval

Timescale: one month to eight months

After submission, the authorities will conduct due diligence on your background, finances and investment details. This stage often takes the longest, depending on the destination country and complexity of your case.

During this time, markets can move significantly – sometimes in your favour, but often not. Having a currency strategy in place during this period can protect your budget and your peace of mind.

How Smart helps:

Your dedicated account manager will monitor the markets on your behalf and keep you updated on any major changes. If exchange rates shift, we can suggest options that help you capitalise on favourable movements or protect against adverse ones. You’ll always know what to expect when the time comes to make your transfer.

Step 5. Complete your investment and receive residency

Timescale: two to eight weeks

Once your application is approved, you will complete the required investment, whether that’s finalising a property purchase or transferring capital to a fund or business. Timely and compliant fund transfers are essential at this stage, as delays can affect the issue of your residency permit.

How Smart helps:

We ensure your funds are transferred efficiently and securely on completion day. Our team works closely with your legal representatives to meet local government and banking requirements, providing full documentation of your transfers for your visa file. Whether you are sending euros to a property developer or capital to an investment vehicle, we make sure the process runs smoothly and without unnecessary costs.

Typical total time from start to residency permit:

Greece and Cyprus: three to six months
Portugal and Italy: four to eight months

Step 6. Maintain residency and renew (ongoing)

After receiving your golden visa, you’ll need to maintain your investment and renew your residency permit every few years. Requirements vary, but this may involve demonstrating that your property remains owned and that you spend a minimum amount of time in the country each year.

How Smart helps:

We continue to assist you with your regular currency payments, whether paying property-related expenses, transferring income abroad, or repatriating funds. Your account manager remains available for future renewals and additional investments, ensuring consistent support long after your initial transfer.

Step 7. Path to citizenship (optional)

For many investors, the golden visa is not only about immediate residency but also about creating a pathway to eventual citizenship. Depending on the country, you may be eligible to apply after five to ten years of continuous residency.

How Smart helps:

Smart remains your trusted partner for the long term, helping you plan ahead for ongoing financial commitments. We can assist with new property purchases, family relocations, or lifestyle transfers.

Case study: A Portugal golden visa made simple

A client introduced by one of our partners was preparing to invest in Portugal’s golden visa programme. Sterling had fallen by 7% in the previous two months, and they were concerned about losing value on their transfer. Working with their Smart Currency Exchange account manager, they arranged a forward contract to secure a better rate while selling assets before the investment deadline.

We also provided a Virtual IBAN so funds could be held in the client’s name, meeting Portugal’s strict AML rules without needing to open a local account. On completion, Smart Currency handled the transfer directly to Portugal, ensuring all funds were received on time and in compliance with visa regulations.

The outcome was a seamless, hassle-free process – leading to a successful visa approval.

Why choose Smart Currency Exchange