Golden Visa programs enable foreign nationals to secure permanent residence and even citizenship in exchange for substantial investments in their host country. These investments take diverse forms, most commonly in real estate. However, some nations extend Golden Visa opportunities into private equity, venture capital funds, local enterprises, cultural initiatives, scientific research, and government debt.
Nevertheless, investing in a Golden Visa often remains the swiftest and most adaptable avenue to obtaining a second passport and a secure international refuge. Portugal, as of 2023, holds a prominent position in this realm.
Portugal as of 2023 tops the list of best countries with a golden visa program.
7 Best Countries With Golden Visa Program
Recent years have witnessed increased scrutiny of the Golden Visa concept, especially within the European Union (EU). Consequently, several countries have opted to terminate their Golden Visa programs altogether, while others have imposed stricter regulations.
Here is the list of 7 Best Countries With With Golden Visa Program:
1. Portugal
2. Malta
3. Spain
4. Greece
5. Italy
6. Austria
7. Switzerland
The list stems from authoritative reports issued by nations that offer enhanced global opportunities. By affording High Net Worth Individuals (HNWIs) and their families access to new markets and a plethora of advantages encompassing business, education, healthcare, taxation, and lifestyle, Golden Visas serve both current and future generations.
Best Countries With With Golden Visa Program
1. Portugal
Portugal's Golden Visa program stands out as one of the world's preeminent choices. It remains fully operational under existing regulations as of August 2023, notwithstanding recent governmental proposals for significant changes.
Beyond real estate, investors can explore other enticing options within Portugal's Golden Visa scheme, such as the investment funds route (with a minimum threshold of €500,000) or investing in Portuguese film production (with a minimum threshold ranging from €200,000 to €250,000). The program's hallmark advantage lies in its exceptional flexibility: once a residence permit is granted, investors have the freedom to spend as much or as little time in Portugal as desired, provided a minimum of seven days annually. After five years, applicants become eligible for permanent residence or Portuguese citizenship.
Portugal boasts one of the world's most powerful passports, offering visa-free access to 187 countries and full EU freedom of movement rights. For entrepreneurial investors, the Highly Qualified Activity (HQA) visa presents an intriguing option. It involves establishing a Portuguese company in collaboration with a local university, with varying levels of involvement and a minimum investment of just €175,000. Notably, HQA applications enjoy priority processing, resulting in a faster timeline for acquiring a residence permit.
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2. Malta
Malta's Golden Visa program emerges as one of the European Union's (EU) most sought-after options, primarily due to its rapid route to EU citizenship. The program offers two paths: full citizenship within 12 months or citizenship within 36 months, contingent upon the investment amount.
The 12-month route necessitates an investment of €750,000, with an additional €50,000 for each family member. Alternatively, the 36-month route requires an investment of €600,000, also with an extra €50,000 per family member. Additionally, applicants must contribute at least €10,000 to a Maltese charity or NGO and either purchase or rent property.
Maltese citizenship provides comprehensive EU rights. Compared to other Golden Visa options, Malta's program stands out due to its swift path to citizenship, virtually guaranteeing approval unless applicants possess a criminal record.
3. Spain
Spain's Golden Visa program presents a compelling opportunity within the eurozone. It offers residency rights through a minimum investment of €500,000 in real estate or the option to invest in a new business without a specified threshold.
However, Spain's program has notable drawbacks, including a lengthy ten-year timeline for citizenship and the absence of dual citizenship. Attaining Spanish citizenship entails a decade of residing in Spain, paying Spanish taxes, and relinquishing the original citizenship.
Compared to Spain, Portugal offers a more attractive package with a broader range of routes, lower investment requirements, tax benefits, and a significantly faster path to citizenship, coupled with the flexibility to choose whether to relocate.
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4. Greece
Greece currently offers the most affordable real estate Golden Visa route in Europe, requiring just €250,000. According to a report, the government plans to raise this threshold to €500,000 in 2023, focusing on prime areas of Athens and Thessaloniki.
An advantage of the Greek program is its ability to process applications entirely remotely, with many investors obtaining permanent residence permits in a mere three months. Nonetheless, permanent residence in Greece does not confer Greek citizenship or EU freedom of movement rights; it grants the right to reside full-time in Greece and travel for up to 90 days within the Schengen Area.
For those aspiring to attain Greek or EU citizenship, Portugal's Golden Visa routes or the HQA visa offer a superior overall package with more attractive benefits.
5. Italy
Italy's Golden Visa program offers a low €250,000 minimum investment threshold but diverges from the real estate route. To access this threshold, investors must invest in an 'innovative startup.' Alternatively, they can choose to invest €500,000 in shares of an Italian limited company, donate €1 million to an Italian NGO, or invest €2 million in Italian government bonds.
Italy's program includes a lengthy ten-year timeline for citizenship and B1 language proficiency requirements. Achieving citizenship necessitates a decade of full-time residence in Italy, payment of Italian taxes, and reaching B1 proficiency in the demanding Italian language.
While Italy's program provides the advantage of approving applications before investments, it may be a more attractive choice for those seeking European residence rights rather than citizenship.
6. Austria
Austria distinguishes itself among EU options by granting investors the liberty to select their investment type. Investments must be substantial and valuable to the Austrian government, with an annual quota of only 300 applicants.
Austria's citizenship by investment is not an official program but is governed by Article 10, Section 6 of Austria's Citizenship Act. It allows the government to confer Austrian citizenship in exchange for contributions of 'extraordinary merit,' encompassing economic, athletic, scientific, and cultural contributions.
Unlike most Golden Visa countries, Austria does not accept passive investments like government bonds or real estate for residency. Acceptable forms of investment include significant contributions to a government fund, investments in joint ventures, venture capital, and innovative or priority businesses per government requirements.
Investment thresholds in Austria typically begin at €3 million and can reach as high as €10 million. Gaining Austrian citizenship through this program is faster than in many other Golden Visa countries, with an average timeline of approximately 36 months from the initial investment.
However, applicants must possess German language proficiency and renounce existing citizenship, as Austria does not permit dual citizenship. While Austria offers a unique option within the EU, it may not be the most practical choice for those seeking multiple passports.
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7. Switzerland
Securing residence by investment in Switzerland is. The nation lacks a real estate investment route and has no plans to introduce one. Instead, investors can attain Swiss residence through two avenues: the Swiss Residence Program through lump sum taxation or the Swiss Business Investor program.
The Swiss passport ranks among the world's most powerful but is one of most hardest to obtain. To gain full EU rights, individuals may find more viable routes through Golden Visas in Malta or Portugal, ultimately leveraging these as pathways to EU citizenship.
As you explore these Golden Visa options, it's essential to conduct thorough research, consult legal experts, and evaluate your long-term goals. The decision to pursue a Golden Visa is a significant one, and understanding the nuances of each program is crucial to making an informed choice.
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