Golden Visas are proving a huge draw to Europe for foreign investors. This particular type of visa allows expats to purchase the right to live in one of several European Union countries, to include Spain, Portugal, Greece, and Malta. A sure win, win where investors can secure the future of their family while benefiting and boasting the European economy. The procedure, time and investment fluctuate from country to country, but generally the visa swaps a residency visa in exchange for investment in property and/or business. Whether you are looking to freely travel within the European Schengen Visa Zone, seeking asset security, personal insurance, family education or a second home to secure the future of your family, a golden visa is very enticing.
The Schengen Visa Zone
Currently, several countries within the Schengen visa area in Europe offer investor residency visas. These investor visas, permit travel throughout the Schengen visa zone. The Europe Schengen visa countries include Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, and Liechtenstein. Essentially, if you obtain a Golden Visa from Spain, Portugal, Greece, or Malta, you are permitted to travel between every other country in the Schengen area freely. Enticing, right?
Launched in 2012, the Portugal investor golden visa program has been promoted internationally by the Portuguese government. You can obtain residency in Portugal with a real estate investment of €500,000. This program grants temporary residence to the investor and their family with the condition that the investment is maintained and renewed every two years. After five years, applicants qualify to apply for permanent residency. With the permanent residency, investors and their families can travel freely within all EU Schengen countries. After six years, applicants qualify to apply for citizenship and a passport.
Portugal Golden Visa: Key Facts
- Requires a real estate investment of €500,000
- Includes full family residency
- No requirement to reside in investment property
- Option for permanent residency after five years
- Option for citizenship after six years
- EU Schengen visa travel
The cheapest way to obtain a golden visa residency in Europe is by way of Greece. Launched in July 2013 the Greek golden visa program grants five-year residency visas in return for a real estate investment of €250,000. Their program also includes flexible qualifications for full family qualification spanning three generations.
Greece Golden Visa: Key Facts
- Investment in property from €250,000
- Full family residency. Children up to 21
- Flexible. No requirement to reside
- EU Schengen visa travel
- Citizenship requires residency
Malta offers two golden visa programs through investment, one for citizenship and one for permanent residency. They require a property investment of at least €250,000 in Maltese government bonds for five years. Additionally, the investor must make a €30,000 contribution to the State Fund of Malta and purchase or rent a residence on the island. Additional legal fees and processing fees cost around €40,000. The program, although a bit more complex than the other investment visa nations, provides a low-risk investment route to obtaining a residency visa in an EU Schengen country.
Malta Golden Visa: Key Facts
- Requires a real estate investment of €250,000 into government bonds for five years
- Requires a contribution of €30,000 to Maltese government
- Requires an additional €40,000 in legal fees and processing fees
- The investor must purchase or rent a property (minimum €270,000 purchase or €10,000 rental property)
- Indefinite residency granted
- Includes dependent children up to age 26 (Parents and
- Grandparents may qualify on a case by case basis)
If you are looking for an investment opportunity that grants you and your family access to a Golden Visa, Portugal, Greece and Malta may provide your ticket to free access in the Schengen EU visa zone. Contact Bluemina for further details on how you apply for permanent residency and citizenship through investment in other world nations.