Golden visa’s key benefits and qualities

 

 

It is golden, it is widespread, it reached its peak in 2019 (stopped for a while during the pandemic), and it’s none other than the golden visa, also known as residence and citizenship programs. It all began back in 2008 in some countries in the Pacific and the Caribbean yet in Europe, one of the first countries to put it into effect was Portugal in 2012. Ever since even more European countries launched these programs with great success and benefits for both the country and the holder of the visa.

To be actual this program was launched during the period of the European fiscal crisis when most of the countries needed some kind of support. The real estate industry had almost collapsed, and the GDP of the southern EU members was extremely low. These programs worked like energy boosts to the European economy, plus the real estate industry (as this is the type of investment most applicants choose) was revived. Before attempting to explain the key benefits of a golden visa, one thing should be made clear. It’s not actually a visa, at least not regarding the procedure followed. A visa might take a long time to be issued, while a golden visa is obtained within 2-3 months for most countries. 

The qualities of a European investment programs

Simply put, they are fast, they are accessible and they straight- forward. European investment programs, like golden visa Greece, are fast to permit. Especially as mentioned above the Greek permit is obtained within two months. Additionally, there are no special exams you should take, neither is the obligation of knowing the language to get a golden visa. What you should have is a clear criminal record, good health, being over 18 years old, and being of good character. 

In regards to the straightforward part we previously mentioned, this means that the terms should be straight and clear. Usually, there is a government service or a website that provides all the necessary information and replies to questions. Furthermore, you will need a trusted and respected law associate to advise you properly and carry through with the required procedures. Other than that, you could enjoy the benefits of a European investment program.

4 key benefits of a golden visa

Each country, depending on its financial strategy and needs, offers several benefits. Whatever the case might be, the main profit you gain is that you can work, live, and travel visa-free in EU countries as well as in Schengen zone countries (plus 4 non-EU countries: Norway, Switzerland, Ireland, Liechtenstein). It also takes up to 2-3 months to be obtained, and in most programs, you do not have to live in the country of your residence to get your permit. In addition, sooner or later all programs lead to citizenship. Finally, you can always bring your family with you as long as they apply for a golden visa after the main applicant (you), and the dependent members should be under 18 and not married. 

How to get a golden visa

There are some criteria regarding how to get a golden visa, which each government decides based on their financial and strategic needs. 

• Real Estate

This is the most common type of investment. In several countries, there is a real estate surplus for numerous reasons. The most common one is that the denizens cannot afford to buy a property. Another reason is that a government might give the construction industry a surplus and a low rate to borrow. Then, without checking the number of new buildings, they find one day themselves with a property surplus and the construction companies deep in debt. So, by promoting this type of investment the government is hoping to overcome this difficult situation. What’s more, some countries will let you buy in specific only areas trying to gentrify them. There is a standard amount of money that an investor should have for this purpose. For instance in Greece, one could buy one or many different properties and the total disposed amount should be at least 250.000€. In other countries one could buy only one property for a certain price, trying this way to artificially inflate the money invested in their countries.

• Golden visa Greece requirements: Financial Products

Any kind of financial product, such as bonds, shares, stocks, funds, and bank deposits might be available to investors searching for the golden visa Greece requirements. One of the major advantages when investing in financial products is that the permanent residence permit might take less to be obtained (usually 5 years, but that depends on each country’s program). Usually, investors are not very keen on bonds, perhaps due to unstable markets and economies. But, stocks and investments in funds do gather a lot of interest. There are specifications explaining every country’s requirements for financial investments.

Applying for a golden visa program seems like the ideal investment tool in an ever-changing world. One has to be very careful and conduct thorough research of tools and strategies that will work to the best of his interests. Overcoming paperwork and technical difficulties with the support of a proper associate, finally one gets to enjoy the benefits of such programs.