To explore the EU “Golden Visa” routes and their benefits, we discussed the best options for investors with Albert Ioffe, Legal and Compliance Officer at Immigrant Invest.
Golden Visa programs in Europe offer residency and a path to citizenship to non-EU citizens in exchange for significant investments, typically in real estate, government bonds, or business ventures.
All countries allow family reunification, meaning that immediate family members can also gain residency status. In most cases, investors also obtain global mobility in terms of visa-free travel within the Schengen Area.
Immigrant Invest is a consulting company that specialises in investment migration services.
We assist individuals and families in obtaining residency or citizenship through investment programs, commonly known as Golden Visas.
Which EU countries currently offer residence permits by investment? Name the best options.
Several European countries offer Golden Visa programs, granting residency permits to non-EU investors. These programs are particularly attractive for those seeking mobility, security, and access to the European Union.
Here are some of the most highly-rated Golden Visa programs in Europe, considering investment requirements and the benefits provided.
#5. Cyprus — Investment Program for Permanent Residency
The Cyprus Golden Visa requires a minimum investment of €300,000, which can be made by purchasing residential or commercial properties or investing in Cypriot company shares or local investment funds. This Golden Visa grants permanent residency immediately, bypassing the need for a temporary residence permit.
The Cyprus investment program is known for its fast processing times and minimal residency requirements, needing only one visit every two years to maintain status. After living in Cyprus continuously for 4 to 8 years, you may apply for Cyprus citizenship.
#4. Italy — Combining International Business Opportunities with the Golden Visa
The Italy Golden Visa allows investors and their families to reside in the country, open a business with a special tax regime, or work for Italian companies.
Two of the four investment options are business-focused: investing at least €250,000 in an innovative startup or €500,000 in stocks or shares of a startup approved by Italian authorities. The other two options involve social projects and government bonds, with minimum investments of €1 million and €2 million, respectively.
#3. Greece — Residency Program with Multiple Investment Options
Investors can purchase residential or commercial properties valued at €250,000 or more to obtain a Greece Golden Visa. Alternatively, they can lease tourist accommodations or enter into a timeshare agreement.
Beyond real estate, investors can invest in local companies’ capital, purchase securities and government bonds, or open bank deposits, with a minimum investment of €500,000. Investing in mutual and alternative investment fund shares requires at least €350,000.
#2. Malta — Investment Program with Real Estate Rental Options
The Malta Permanent Residency Programme (MPRP) provides a pathway to lifelong residency by investment. The program requires a minimum investment of €150,000, which includes renting a property for at least five years, along with a government fee and a charitable donation.
The residency program provides numerous benefits such as the right to live, work, and study in Malta, visa-free travel within the Schengen Area, and the opportunity to apply for citizenship, which offers further travel freedoms and rights.
#1. Portugal — The Fastest Path to EU Citizenship Without Residency Obligations
Portugal’s residency-by-investment program allows non-EU/EEA citizens to obtain a temporary residency permit through investments starting at €250,000. This can lead to permanent residency and citizenship after five years of naturalisation. The naturalisation period begins upon payment of the state fee for the Golden Visa application.
The program is particularly popular due to Portugal’s attractive climate, high quality of life, and relatively affordable real estate compared to other Western European countries. It has become a favoured option for investors seeking a secure and profitable way to gain EU residency status, with the potential for citizenship.
What is the latest news about Golden Visas in Europe?
The Hungary Golden Visa Program is set to relaunch in the summer of 2024, offering foreign investors a 10-year residence permit, extendable for an additional 10 years.
To participate, investors must either invest at least €250,000 in a local real estate investment fund or purchase real estate worth at least €500,000. Alternatively, they can donate €1,000,000 to a public trust supporting Hungarian universities and colleges. Notably, Hungary does not require investors to spend a minimum period in the country to maintain their residence status.
The Greece Golden Visa Program is undergoing significant changes. Previously, an investment of €250,000 in real estate was sufficient to qualify. Now, a minimum investment of €800,000 is required for properties in high-demand areas such as Athens, Piraeus, Thessaloniki, Mykonos, Santorini, and other islands with populations over 3,100. For other regions of Greece, the minimum investment is set at €400,000.
Investors who began their property purchases under the old threshold have a grace period to complete their investments. New applicants can secure the current investment thresholds by making a 10% deposit before August 31, 2024, and completing their investment by the end of 2024.
How to choose the right investment program and succeed?
- Define your goals. Clearly articulate what you aim to achieve with the investment program. Are you seeking a path to citizenship, a residency visa, or a return on investment? Your objectives will greatly influence which program is most suitable for you.
- Consult with experts. Engage with immigration and legal professionals who specialise in investment programs. Companies like Immigrant Invest strictly adhere to international regulations, including anti-money laundering (AML) standards. We provide insights into each program’s nuances, assist with navigating legal requirements, and help prepare and review all necessary documentation to ensure compliance.
- Research various programs. Explore the different programs available in various countries. Consider the financial requirements, types of investments permitted, residency or citizenship conditions, and additional benefits such as visa-free travel or business opportunities.
- Understand all costs. Be aware of all associated costs, not just the initial investment. This includes processing and legal fees, taxes, and potential expenses related to maintaining the investment.
- Prepare for Due Diligence. Host countries will conduct thorough Due Diligence checks. This includes proving the legitimacy of your funds, undergoing background checks, and sometimes providing evidence of good character. Ensure your funds are from a legitimate source and that you can provide comprehensive documentation to support your application.
How does Immigrant Invest help investors obtain European residency?
Immigrant Invest provides comprehensive services to help investors obtain European residency through investment. Our team consists of experts in immigration law, financial advising, and real estate, ensuring that all aspects of the process are covered.
We offer services across various EU countries with active investment migration programs, including Portugal, Greece, Malta, Spain, Italy, Hungary, and Cyprus.
Our company manages the entire process from the initial consultation to acquiring citizenship or residency, including handling bureaucratic hurdles and ensuring that investments meet the program requirements. If you are interested in obtaining temporary or permanent residency in Europe, contact us for expert legal advice and dedicated cooperation.
