Best Golden Visa Program

What is a Golden Visa?

A Golden Visa is a residency-by-investment program that allows individuals to obtain a residence permit in a foreign country by making a significant investment, usually in real estate or other qualifying sectors. This program is particularly attractive to those seeking international mobility, access to better education and healthcare, and the opportunity to live in a desirable location. The Golden Visa provides a pathway to permanent residency or citizenship, depending on the country's regulations. In this article, we will explore the top 10 best Golden Visa programs, along with their requirements and benefits. 

• Portugal
• Spain
• Greece
• Austria
• Switzerland
• Italy
• Malta
• Malaysia
• Mauritius
• Canada
• Hungary

Portugal 

Portugal's Golden Visa program stands out as one best golden visa program globally. Eligible individuals, regardless of nationality, can secure Portuguese residency by investing a minimum of €500,000 in real estate. This threshold decreases to €400,000 if the investment is made in low-density areas, encouraging development outside major urban centers. After five years, investors have the option to apply for permanent residency or citizenship, with many opting for the latter to obtain a second passport, providing access to the European Union (EU) and the Schengen Area. Portugal's Golden Visa offers a unique pathway for entrepreneurial investors through the Highly Qualified Activity (HQA) visa.

Who is Eligible?

• Non-EU/EEA/Swiss nationals over 18 years old.
• Clean criminal record required from both home country and Portugal.
• Investment funds must originate from outside Portugal.

Benefits of the Portugal Golden Visa

1. Visa-free travel in the Schengen Area.
2. Right to live, work, and study in Portugal.
3. Eligibility for citizenship after five years.
4. Access to high-quality education, healthcare, and a secure environment.

How to Apply for the Portugal Golden Visa?

The application process involves choosing a qualifying investment, starting the legal process, and opening a bank account during the first trip to Portugal. The second trip is for providing biometric data and original documents. After receiving the residence permit, clients need to provide biometric data and updated documents at each renewal. The first permit is usually issued for two years, with subsequent renewals for two-year periods. The entire process takes over 18 months.

Spain

Spain's Golden Visa program offers residency rights through a minimum investment of €500,000 in real estate or investing in a new business without a specified threshold. The program presents an intriguing opportunity within the eurozone. However, it comes with notable drawbacks, including a ten-year timeline for citizenship and the absence of dual citizenship. 

Who is Eligible?

To qualify, the primary applicant must be over 18, make a significant investment as stipulated by the Spanish government, and possess a clean criminal record. 

Benefits of the Spain Golden Visa

1. High quality of life.
2. Inclusion of family members: spouse, unmarried partner, financially dependent children, and elderly parents.
3. Access to public healthcare and education systems.
4. Excellent schools with multilingual tuition options.

How to Apply for the Spain Golden Visa?

Applications must be submitted with the prescribed forms, appropriate fees, and supporting documents. Residence permits are usually issued after a 20-day consideration period, with initial duration of three years, renewable for five years upon request. The two-stage application process involves obtaining a Spanish residence visa in the home country and then applying for a Spanish residence permit.

Greece

Greece being among the top 10 country list for Golden Visa, it's program requires a minimum investment of €250,000 in real estate, which can be residential or commercial properties. Eligibility criteria include good financial standing, passing due diligence, possessing a clean criminal and professional record, sustaining oneself and dependents, and maintaining the investment amount throughout the residency.

Benefits of the Greece Golden Visa

1. No obligation to reside in Greece.
2. Access to all Schengen Zone member states for short stays.
3. Pathway to Greek citizenship.
4. Remote application processing, with many obtaining permanent residence permits in three months.

How to Apply for the Greece Golden Visa?

The application process involves visiting Greece, choosing a preferred property, submitting the application, and undergoing final verification. This straightforward process enhances the appeal of Greece's Golden Visa program, making it one of the best golden visa program for investors seeking European residency.

Austria

Austria's Golden Visa program stands out among best EU passport countries, offering investors the freedom to choose their investment type. However, the program has a strict annual quota, allowing only 300 applicants. Unlike typical Golden Visa programs, Austria's citizenship by investment is not an official program but governed by Article 10, Section 6 of Austria's Citizenship Act. This provision enables the government to confer Austrian citizenship for 'extraordinary merit,' encompassing economic, athletic, scientific, and cultural contributions.

Who is Eligible?

To be eligible for Austria's Golden Visa program, applicants must meet specific criteria:

• Applicants must be over 18 years old at the time of application.
• A clean criminal record is a prerequisite.
• Renounce Dual Citizenship because Austria does not recognize dual citizenship.
• Successful applicants must take up residence in Austria.
• Maintain a bank account with a minimum of EUR 40,000 in liquid assets, with potential increases depending on the family size.
• Applicants must show proof of permanent residential real estate where they and their dependents will live.
• Mandatory to have private medical insurance.
• Proficiency in the German language at A1 level is required.

Benefits of the Austrian Golden Visa

1. Flexibility in Investment: Investors can choose from various investment options, including significant contributions to a government fund, investments in joint ventures, venture capital, and innovative or priority businesses.
2. No Formal Application Process for Citizenship: Unlike other Golden Visa programs, obtaining citizenship in Austria through investment does not require a formal application process. The estimated time for this process is around 24 to 36 months.
3. Full Austrian Citizenship: Successful applicants receive full Austrian citizenship, allowing them to apply for a passport immediately after government approval.

How to Apply for the Austrian Golden Visa?

The process for obtaining citizenship in Austria through investment is not formalized, but it is estimated to take around 24 to 36 months. The journey to Austrian citizenship involves various procedures requiring approval at multiple levels of government. Successful applicants, as a result of their investment, are granted full Austrian citizenship. The subsequent application for a passport is processed within a few days.

Switzerland

Switzerland's Golden Visa program is renowned for its efficiency, offering a pathway to residency through strategic investments. Switzerland distinguishes itself by providing two investment options: Lump Sum Annual Tax and Swiss Business Investment. Each option comes with distinct requirements and benefits, contributing to Switzerland's appeal among investors.

Switzerland Golden Visa Investment Requirements

Switzerland offers two investment options:

1. Lump Sum Annual Tax

The most popular choice, with a flat tax ranging from 200,000 CHF to 600,000 CHF ($225,000 to $670,000). The specific amount depends on the chosen canton for residence. Importantly, this option does not grant the right to seek employment in Switzerland, necessitating a source of income outside the country.

2. Swiss Business Investment

Investors can incorporate a local business by investing 1 million CHF. The business must be pre-approved, create or maintain full-time jobs in Switzerland, and the investment must be made and maintained in the canton of residence.

Switzerland Golden Visa Eligibility Criteria

• Aged between 18 to 55.
• A clean criminal record is mandatory.
• Applicants should demonstrate good health.
• Prove an official source of income.
• Provide proof of owned or rented accommodation in the country.

Benefits of the Switzerland Golden Visa

1. Visa-Free Access to Schengen Area: Enjoy unrestricted travel within the Schengen Area.
2. Path to Citizenship: Residents can apply for Swiss citizenship after living continuously for ten years, reduced from 12 years recently. Citizenship requires passing required tests.
3. Family Inclusion: Immediate family members, including spouses and dependents under 18, can be included.
4. Impeccable Infrastructure: Switzerland boasts world-class infrastructure, especially in banking and insurance, ensuring residents enjoy top-notch services and wealth protection.
5. Quick Processing Time: The Switzerland Golden Visa can be obtained within three to six months, a significantly shorter timeframe compared to other European programs.
6. Right to Live and Study: Visa holders and their families have the right to reside and study at some of the top universities in Switzerland, enhancing their quality of life.

How to Apply for the Switzerland Golden Visa?

Applicants need to select their preferred investment option and adhere to the respective requirements. The Lump Sum Annual Tax option requires settling the flat tax annually, while the Swiss Business Investment demands ongoing business maintenance. The process takes approximately three to six months, making it one of the faster Golden Visa programs in Europe.

Italy

Italy's Golden Visa program sets itself apart among best passport countries by offering investors diverse investment routes, including an innovative startup, shares in an Italian limited company, donations to an NGO, or investments in Italian government bonds. With a relatively low minimum investment threshold of €250,000, Italy provides an enticing option for those seeking European residency.

Italy Golden Visa Eligibility Criteria

Applicants must be over 18, possess sufficient funds for the chosen investment, provide proof of the legitimacy of funds, submit a Declaration of Commitment specifying the investment amount and planned stay in Italy, prove sufficient funds to reside in Italy, have no criminal record, and hold valid health insurance.

Benefits of an Italian Golden Visa

1. Visa-Free Travel to Schengen Area: Enjoy the freedom of travel within Europe's Schengen Area.
2. Residence without Permanent Stay: Italy allows residence without imposing a permanent stay requirement.
3. Access to Excellent Medical Care and Education: Benefit from Italy's renowned healthcare and education facilities.
4. Potential Path to Citizenship: Citizenship may be available after ten years of residence, subject to specific conditions.

How to Apply for the Italy Golden Visa?

The visa is initially granted for two years, renewable for an additional three-year period if the investment is maintained. The process typically takes 90-120 days from the application date. Investors must purchase or rent residential real estate for the Investor Visa Program or demonstrate a stable income and own residential real estate under the Elective Residence Program. Permanent residence is attainable after five years without a minimum physical presence requirement.

Malta

Malta's Golden Visa program has become one of the most sought-after options in the European Union (EU), offering an accelerated route to EU citizenship. The program presents two paths: a 12-month route to full citizenship or a 36-month route, depending on the investment amount. The former requires a €750,000 investment, with an additional €50,000 for each family member, while the latter involves a €600,000 investment, 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.

Who is Eligible?

• At least 18 years of age
• No criminal record or ongoing criminal investigation
• No international sanctions
• Applicable to all family members included in the application

Benefits of a Malta Golden Visa

1. EU Residence and Visa-Free Access: Enjoy residence in an EU country and visa-free access across Europe's Schengen Area for 90 days out of a 180-day period.
2. Indefinite Residency: The right to reside indefinitely in Malta.
3. Flexible Investment Period: Investment is required only for the first five years.
4. Inclusive of Family: Family members are included in the application.
   

How to Apply for the Malta Golden Visa?

The application process involves submission to the Residency Malta Agency, responsible for processing applications. Following rigorous due diligence checks, successful applicants proceed to complete the qualifying investments, receiving a residence permit. The Residency Malta Agency issues a Maltese residence certificate to successful applicants, serving as a permit.

Malaysia

Malaysia, with its vibrant economy and political stability, offers a Golden Visa program that attracts applicants with a minimum $125,000 in assets and a monthly income of at least $2,500. The program requires applicants to deposit a minimum balance of RM150,000 or RM300,000, depending on age, as a bank deposit. 

Eligibility for a Malaysia Golden Visa

• Health insurance evidence
• Proof of net wealth
• Proof of net income
• Bank statements
• Curriculum vitae
• Clean criminal record (police clearance certificate)

Benefits of Malaysia Golden Visa

This program provides long-term, multiple-entry, renewable visas, and the option to include a spouse, parents, parents-in-law, and unmarried children under 21. Malaysia's multicultural population, contemporary lifestyle, and the option to purchase residential properties at various price points make it an attractive destination. Taxation is levied only on income sourced in Malaysia, with an extensive network of double tax agreements in place. 

How to Apply for the Malaysia Golden Visa?

The Malaysia Immigration Department issues a conditional approval letter after initial approval, allowing applicants to visit the country for remaining requirements. The process, facilitated by Henley & Partners, takes three to six months. Both the MM2H and PVIP visas, while not allowing work in Malaysia, provide long-term multiple-entry visas for 10 or 20 years, depending on the program.

Mauritius 

Mauritius offers a Golden Visa program where an investment of at least US$500,000 can lead to fast-track naturalization in two years, albeit with stricter physical residence requirements.

Who is Eligible?

• Investors meeting the investment threshold.

Benefits of Mauritius Golden Visa

1. Opportunity to rent out the investment property.
2. Residence applicable to the whole family.
3. Safe, secure environment with a tropical climate.
4. International schools and universities.
5. Political, social, and economic stability.

How to Apply for the Mauritius Golden Visa?

Applicants must submit prescribed forms with accompanying fees and supporting documents, including a certificate of morality and a recent medical certificate. After initial due diligence checks, the applicant can choose a preferred property, fulfill the investment, and submit the application to the Economic Development Board. Upon successful due diligence, the applicant and family receive a Mauritian residence permit.

Canada

Canada offers a Golden Visa program that requires active business operation, with an unofficial investment range of $250,000 to $350,000.

Eligibility for a Canada Golden Visa

• Language proficiency in English or French.
• Demonstration of skills to run a business.
• Submission of a well-crafted business plan.
• Residency requirements vary based on the chosen program.

Benefits of Canada Golden Visa

1. High standard of living.
2. Affordable, high-quality education and healthcare.
3. Family inclusion in the application.
4. Multicultural, tolerant, and vibrant cities.
5. Excellent place to do business.
6. Minimal application requirements with no age restriction or specific net worth.

How to Apply for the Canada Golden Visa?

Clients need to prepare and submit a business proposal, approved by a designated government business organization. After approval, clients and their families can apply for permanent residence, with the requirement of maintaining physical presence for two out of five years. 

Hungary

Hungary introduced its Golden Visa program in January 2024, making it the latest entrant among European countries. The program offers three investment avenues: €250,000 for Real Estate Investment Fund, €500,000 for Real Estate Acquisition, and €1 million for a Non-refundable Public Trust Donation.

Benefits of Hungary Golden Visa

1. Quick and effective option for European residency.
2. Life-long residency, renewed every ten years.
3. Visa-free travel within EU Schengen zone.
4. No minimum stay requirements.
5. Non-residents have no tax obligations.
6. Right to reside in Hungary.

How to Apply for Hungary Golden Visa?

Investors can choose from the Real Estate Investment Fund, Real Estate Acquisition, or Non-refundable Public Trust Donation options. The process takes 4 to 8 weeks, offering a swift path to European residency with minimal requirements.

In a Nutshell

In conclusion, these Golden Visa programs present unique opportunities for investors seeking residency in diverse and attractive locations across the globe. Each country Golden Visa program has its own set of requirements, benefits, and application procedures, catering to a wide range of preferences and objectives. 

Cover photo: Portugal, wirestock (Freepik)