Lots of people in the UK dream of living abroad in an EU country. However, since we left the EU, it has been much harder to get residency in one of these countries. Thankfully, the EU has introduced permanent residency programmes, otherwise known as Golden Visas for UK residents.
A Golden Visa is a residency by investment or citizenship by investment programme. It is aimed at wealthy foreign citizens who want to relocate to an EU country. These individuals are expected to invest a certain amount of money or purchase property in one of these countries in order to be granted a Golden Visa.
However, Golden Visas differ from country to country. In this article, we will discuss Golden Visas in Malta, Spain, Portugal, and Greece. We will talk about the conditions for approval, the cost involved in applying for a Golden Visa and the benefits of each of these countries:
The Golden Visa in Malta
If you’re a UK citizen who would like to move to Malta, then it might be an idea to look into the Malta permanent residence programme. This programme, otherwise known as the Maltese Golden Visa, allows UK citizens to earn citizenship or indefinite permanent residency in the Malta. However, in order to get a Golden Visa in Malta, there are some conditions you must meet.
To be eligible for citizenship you must:
- Invest a minimum of 650,000 euros in the government’s national development fund, as well as at least 150,000 euros in government-approved shares or bonds.
- Purchase or rent a property in the country and live there for a minimum of 5 years. If you choose to purchase a property, this property must cost no less than 350,000 euros.
To be eligible for permanent residence in Malta you must:
- Invest at least 250,000 euros in government shares or bonds for a minimum of 5 years
- Invest at least 30,000 euros in the State Fund of Malta
- Rent or purchase a property in Malta and live there
Living in Malta is a great experience; however, this scheme does not guarantee citizenship. The good news is that it does allow you to live in Malta and have visa-free travel to the Schengen Zone.
The Golden Visa in Spain
The most common way to get a Golden Visa in Spain is by investing large sums of money in real estate. In fact, you will need to purchase a property that costs over 500,000 euros in order to be able to apply for a Golden Visa in this country.
However, this isn’t the only way you can get a Golden Visa. Here are some of the investments you can make to get a Golden Visa in Spain:
- Invest at least 1 million euros in bank deposits or shares in a Spanish company
- Invest at least 2 million euros in Spanish public debt.
There are lots of benefits of Spanish Golden Visas including:
- You and your family members can travel without visas in the Schengen zone.
- There is no minimum stay requirement.
- If you choose to relocate to Spain, you and your family can get permanent residence within 5 years. Not only that, but after 10 years you will be able to apply for an EU passport and citizenship.
The Golden Visa in Portugal
Another EU country that is popular with UK citizens is Portugal. The good news for UK citizens is that Golden Visas in this country are much cheaper than in Spain. In fact, Golden Visas in this country start at 250,000 euros. Here are some of the ways you can get a Golden Visa in this country:
- Purchase real estate that costs at least 500,000 euros
- Purchase real estate that costs at least 350,000 euros in an area that is undergoing regeneration
- Make a 1-million-euro capital transfer
- Open a business and create at least 10 job positions
- Invest more than 250,000 euros in culture, arts, and heritage
- Invest more than 350,000 euros in scientific research
- Invest more than 500,000 euros in a small or medium-sized business
There are many benefits of the Golden Visa scheme in Portugal. Here are some of the main ones:
- Investment options in this country start at as little as 250,000 euros.
- Investors only have to spend two weeks in the country to renew their visa.
- After five years, investors can apply for citizenship. However, a good understanding of the language and ties to Portugal are a requirement for this.
- You and your family will be allowed free movement in the Schengen zone.
The Golden Visa in Greece
Similar to Portugal, in Greece you can get a Golden Visa by investing in real estate worth 250,000 euros or more. Here are some of the other ways you can apply for a Golden Visa in this country:
- Purchase Greek government bonds worth at least 400,000 euros
- Invest at least 400,000 euros in a Greek company
- Make an investment of at least 400,000 euros in bank deposits in the country
There are lots of reasons why people choose to apply for a Golden Visa in Greece. Here are some of the main benefits of applying for a Golden Visa in this country:
- Reasonable investment options
- No minimum stay requirements
- If you retain your investment, your visa can be renewed every five years
- After seven years of residence, you can apply for citizenship
- All family members are entitled to free movement in the Schengen zone
- Visas in this country not only include your spouse and children up to the age of 21, but they also include parents
Golden Visas in other EU Countries
Golden Visas are also available in a number of other EU countries including Switzerland, Austria, Cyprus, and Italy. However, these countries have their own sets of conditions.
As you can see from the information above, applying for a Golden Visa in an EU country is extremely easy. You simply need to invest enough money into the country you are moving to. And the good news is that there are lots of benefits to Golden Visas in all of the EU countries we’ve spoken about above. Which EU country will you choose to invest in?
OTS News on Social Media