WHAT IS A GOLDEN VISA?
The “Golden Visa” is a residence permit that grants the holder the right to live in the country and work towards citizenship according to the country’s regular naturalisation timeline.
“Golden Visa” is simply the catch-all term for the various residence by investment programs where an individual makes an investment in the country and receives preferential treatment during the immigration process in exchange for that investment.
That means that many programs promoted as “Golden Visas” aren’t technically called that, but the term has stuck as a marketing term.
The first Golden Visa program was launched in Portugal on October 8, 2012, to bring in badly needed funds as the bottom was falling out of the Portuguese real estate market.
To date, the Portugal investor visa program has brought in more than EUR 3.7 billion, has issued over 6,050 “Golden Visas” to principal applicants and an additional 10,181 “visas” to family members.
HOW IS THE “GOLDEN VISA” DIFFERENT?
What differentiates the “Golden Visa” is that the program permanently removes all the other requirements. If you’ve ever looked at the immigration requirements for a lot of these wealthier English-speaking countries, they can be very strict.
The Golden Visa removes the need to have a job offer, start a business (which comes with complicated business plans, requirements to pay social security tax and other hassles), or even marry someone. It removes most of the headache.
In most cases, it generally removes the language requirement too. If you don’t speak Portuguese, that won’t stop you. You won’t find too many jobs in Portugal if you don’t speak Portuguese, but the “Golden Visa” programs and another residence by investment programs allow you to bypass all the standard requirements and step right in.
That is why these programs are seen as a “golden ticket” for those who have the money that these countries want.
WHERE ARE “GOLDEN VISAS” AVAILABLE?
As you’ve probably discovered by now, most “Golden Visa” programs are available within Europe and, more specifically, within the European Union.
There are other programs where you can get a residence permit in exchange for investing, but the term “Golden Visa” broadly applies to the programs found overtly in the European Union that leave the path to citizenship open.
Alan and Partners offers a choice of numerous golden visa programs for investment in residency and citizenship.
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