Thinking of packing up your belongings and heading somewhere warmer? You might be interested in the golden visa scheme, a popular visa type in many European countries.
Also known as the Resident by Investment visa, the golden visa is a scheme designed to attract foreign buyers looking to move overseas. The scheme allows successful applicants to benefit from a residence permit in exchange for economic investment.
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Where can I get the golden visa?
Many countries inside and outside of Europe offer the golden visa scheme or a residency by investment visa. Today, we’ll be focusing on the most popular countries for Your Overseas Home buyers looking to move overseas.
- Greece
- Cyprus
- Spain
- New Zealand
- Ireland
- UK
- Portugal*
* Residential property investment no longer qualifies you for a Portuguese golden visa. Read the alternative investment options on Your Overseas Home.
Golden visa requirements
The requirements for each residency by investment visa differ from country to country. If you’re unsure, we recommend speaking to a visa and residency expert. To be put in touch with a trusted expert, enquire with Your Overseas Home today.
While the minimum monetary investment varies from country to country, there are a few requirements that are standard for all residency by investment-offering countries.
Standard requirements
- You must maintain the investment for at least the minimally required time*.
- You must be able to prove your ownership of the money you wish to invest.
- You must have a clear criminal background.
- You must be 18 or older.
- You must prove you have satisfactory funds to support yourself within the chosen country and will be able to support any family members moving with you.
- You must purchase a property in said foreign country. Minimum spends apply*.
*Determined by country of application
For example, the minimum investment for the Cyprus golden visa programme – or Investor Immigration Permit – is €300,000. You must have a minimum annual income of €50,000 per applicant, plus, an additional €15,000 for an accompanying spouse and a further €10,000 per dependent moving with you.
The benefits of the golden visa scheme
Once your application has been approved; you receive the same rights as any EU resident (if said country is within the EU). Therefore, you can benefit from:
- Visa-free travel within the EU and Schengen Zone
- High return on investment
- Access to healthcare and education systems
- Dual citizenship is recognised
- Option to bring family members with you*
For more information about the specific requirements for each golden visa scheme, head to Schengenvisainfo.com or enquire with Your Overseas Home today to be put in touch with a trusted visa and residency expert.
Sources: Property Guides / Schengenvisainfo.com / Polycarpos Philippou / Global Citizen Solutions
