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 in the property sector.
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Where can I get the golden visa?
There are many countries inside and outside of Europe that 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
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 and 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
