A Golden Visa is an investment-based type of authorization that offers a route to permanent residency or citizenship in a foreign country. 

Golden Visa programs are offered by many EU and Schengen Zone countries. Through EU Golden Visa programs, you can be eligible for EU residency and citizenship by capital transfer, real estate acquisition, or through a donation. 

Difference between a Golden Visa and a Golden Passport

While a Golden Visa is similar to a temporary residency permit or investor visa, a Golden Passport, on the other hand, grants someone the equivalent of citizenship thus, they receive a passport for the county in which they have invested in.

Neither the Golden Visa program nor the Golden Passport program requires the investor to live full-time in the country. To be eligible for a Golden Visa or Golden Passport in Europe, the minimum investment required from golden visa applicants is quite substantial, and differs per country.

Golden Passport programs in Europe can help investors get an EU passport. However, EU citizenship is not instantaneous for Golden Visa holders. For example, Portugal citizenship is usually only granted five years after the initial investment. The only places in the EU that offer Golden Passports are Portugal and Bulgaria.

Portugal: Golden Visa Program and Estimated Investment Requirement

Portugal's Golden Visa program offers a five-year residency opportunity for non-EU nationals, aiming to attract foreign investment. With a Portuguese passport, you gain access to all 27 European Union nations and visa-free access to187 countries worldwide. The minimum investment requirement isslightly high in low-density areas. Real estate investment is the most popular option.

After holding your investment for at least five years, you can apply for permanent residency and a Portuguese passport, granting you the freedom to work, study, and travel within the EU, as well as visa-free travel to 172 countries.

It's important to note that the Portuguese government has announced the end of the Golden Visa Program, with a final review scheduled for 16 March 2023. However, alternatives like the Portugal D7 Visa offer residency and economic mobility for expats.

Greece: Golden Visa Program and Estimated Investment Requirement

The Greece Golden Visa is a 5 year residency program that allows expats to enjoy the Greek lifestyle and potentially qualify for EU citizenship. Acquiring Greek citizenship grants access to a strong passport with visa-free travel to over 170 countries. Greece is an attractive destination for US expats, offering a range of options from historical cities like Athens to charming Greek islands like Mykonos. The Golden Visa can be obtained with a minimum investmentthrough real estate or a deposit in a Greek bank.

Spain: Golden Visa Program and Estimated Investment Requirement

Spain offers a highly desirable European Golden Visa program for expats, providing numerous benefits. The program allows foreigners to obtain legal residency in Spain through a qualifying investment. After maintaining residency for ten years, individuals become eligible for naturalisation and a Spanish passport. The Spanish passport ranks in the top 20 on the Global Passport Index, offering visa-free and visa-on-arrival access to160 countries. 

Spain's rich culinary culture, featuring diverse regional cuisines, makes it an attractive destination for expats with varied taste preferences. The Spain Golden Visa can be obtained through investments in real estate orin shares or stock of a Spanish company.

Cyprus: Golden Visa Program and Estimated Investment Requirement

The Cyprus Golden Visa program offers a residency by investment permit, requiring a minimum investmentin Cypriot real estate or another financial contribution. An annual income ofis also required. After five years of temporary residence, you may apply for permanent residency in Spain. Following 10 years of permanent residency, you may apply for citizenship through the process of naturalisation, provided that certain criteria are met.A Cypriot passport provides visa-free access to over 160 countries and allows freedom of movement within the EU.

Austria: Golden Visa Program and Estimated Investment Requirement

Austria's citizenship by investment program is costly, selective, and complicated. It grants the Austria Golden Visa to wealthy foreign nationals who can make extraordinary investments in the country's economy, contributing to its financial, cultural, and social prosperity.

Qualifying for the Austria Golden Visa can lead to obtaining one of the world's most powerful passports, providing visa-free access to 188 destinations worldwide, including the United Kingdom and the United States. However, Austria does not allow dual nationality, requiring applicants to relinquish their current passports. The program's details are confidential, so seeking assistance to determine eligibility is advisable.

Antigua and Barbuda: Golden Visa Program and Estimated Investment Requirement

Antigua and Barbuda is a Caribbean paradise offering powerful passport benefits. Passport holders enjoy visa-free and visa-on-arrival access to over 140 countries. The Antigua and Barbuda Golden Visa scheme offers four investment options for foreign nationals:

• Contribution to the University of the West Indies Fund: By investing families of six or more can gain a one-year tuition-only scholarship for a family member at the University of West Indies.
• Real estate investment: Investing in government-authorised real estate projects grants eligibility for the Golden Visa. Joint investments can reduce this amount.Business venture investment: The most expensive option requires a minimum investment of a given amount to establish a new business venture. Multiple investors can join with a total investment of a given amount and a minimum contribution per participant. A processing fee applies to the last two options.

Dominica: Golden Visa Program and Estimated Investment Requirement

Since 1993, Dominica has offered a flexible and affordable investment program for foreign nationals, granting them citizenship and a powerful passport. This passport allows visa-free or visa-on-arrival travel to over 140 countries. Dominica is an attractive choice for US expats due to its stable economy and currency pegged to the US dollar.

It's also great for yachting enthusiasts, with neighbouring islands just a short distance away. Caribbean passport holders can travel between islands without prior visa requirements. The citizenship by investment program in Dominica includes options to donate to the country's Economic Development Fund or purchase approved real estate in addition to fees.

Grenada: Golden Visa Program and Estimated Investment Requirement

The Grenada citizenship by investment scheme offers second citizenship and Grenadian passports. Grenadian passport holders enjoy visa-free travel to 140+ countries. Grenada is the only Caribbean country where you can obtain the USA E2 treaty visa through the Golden Visa program.

 It is known for being one of the safest and most naturally preserved island nations in the Caribbean. Travel between Grenada and the US is convenient with frequent direct flights. There are two investment pathways: donating to the National Transformation Fund (NTF) or purchasing a government-approved real estate property with a requirement to maintain ownership for five years.

St. Kitts and Nevis: Golden Visa Program and Estimated Investment Requirement

St. Kitts and Nevis offers the oldest Golden Visa program globally, attracting expats for over a decade. The country boasts a powerful passport granting visa-free access to 140+ countries. Language proficiency and residence permits are not mandatory for this program, making it attractive to English-speaking foreign investors.

For individuals seeking tax benefits, St. Kitts and Nevis has appealing incentives such as no income tax, with only a small contribution required for the local Social Security Board (SSB).

There are two investment options for residency: contributing an amountto the Sustainable Growth Fund (SGF) or purchasing real estate. These investments involve specific due diligence and government processing fees.

Until January 31, 2024, there is a limited-time offer: a discount on the Sustainable Growth Fund option, reducing the starting price.

Jordan: Golden Visa Program and Estimated Investment Requirement

Jordan, a historically significant country, is often overlooked in discussions of Golden Visa countries. It ranks second among Middle Eastern nations in the Global Peace Index, boasting low security concerns and perceived criminality.

While Jordanian passport holders may not possess the world's most powerful passport, they enjoy visa waivers for numerous destinations across the Middle East and the world.

To obtain a Jordanian passport, there are three investment plans available. The lowest option requires a investment in a project outside the country's capital that generates a minimum of ten local jobs. Investing within the capital increases the amount to $1 million.

Alternatively, you can deposit a given amount$ in the Central Bank of Jordan for three years or purchase treasury government bonds worth $1 million for a six-year period. Lastly, you have the option to buy shares in any Jordan-based company.

Malta: Citizenship by Naturalization for Exceptional Services

Malta is an attractive option for wealthy individuals seeking investment opportunities and a strong passport. As a member of the European Union, Malta offers numerous advantages for foreign investors. Maltese passports rank highly on the passport index, providing visa-free access to the UK and other top travel destinations.

While citizenship in Malta has become more selective, it remains popular among expats. The primary pathway to citizenship is through the Malta Citizenship by Naturalization for Exceptional Services by Direct Investment (CES). Two options are available:

• Citizenship in one year with a minimum investment of a slightly higher price in the national development fund.

• Citizenship in three years with a minimum investment 0f a fair pricein the national development fund.

Both programs require residing in Malta for the program's duration and investing in real estate. You can either purchase residential propertiesor lease a residential property in Maltaper year for 12 to 36 months. Additionally, a philanthropic donation towards approved causes is required.

For permanent residence through the Malta Permanent Residence Program, the requirements include:

• Minimum investmentin property purchase or a lease agreement per year.

• Government contribution for a lease agreement].

• Donation to an NGO registered in Malta.

• The property investment must be held for at least five years.

Unlike the CES program, permanent residence does not require living in Malta. However, after residing in Malta for five years and fulfilling all requirements, you can apply for Maltese citizenship.

Montenegro: Golden Visa Program and Estimated Investment Requirement

Montenegro is a Balkan country with mediaeval architecture and affordable real estate. Retirees can get a lot for their money, with prices 128% cheaper than in the US. The country offers two citizenship by investment programs, requiring investments, plus a donation Montenegro is still in the application phase for EU membership, so it's passport does not offer the same level of access. However, it provides visa-free or visa-on-arrival access to over 130 countries, including the UAE.

North Macedonia: Golden Visa Program and Estimated Investment Requirement

North Macedonia, a former Yugoslavian state, offers diverse landscapes with mountains and Mediterranean coastline. It has English-speaking international schools and bilingual classes in Albanian, Turkish, and Serbian for high school students.

Residency in North Macedonia is limited, with only 1000 applicants accepted annually through the investment scheme.

Although not an EU member, the North Macedonia citizenship by investment program allows you to obtain a North Macedonian passport and enjoy visa-free travel to over 130 countries. Spouse and children under 18 can be included in the application.

Investment options private funds to establish a new venture and create at least ten local jobs.

Turkey: Golden Visa Program and Estimated Investment Requirement

Turkey is a popular choice for foreign investors due to its affordable cost of living and high quality of life. It offers world-class healthcare, particularly in cosmetic surgery and dental care. Turkey also has a young and competitive workforce, making it attractive for international investors. Its geographical location makes it ideal for importing and exporting, being on the border of Asia and Europe.

The Turkish passport provides visa-free or visa-on-arrival access to 126 countries. Turkish citizenship can be obtained through various investment options, such as buying real estate or making capital transfer investments of a certain amount. These investments must be in operation for at least three years. An additional benefit is that obtaining Turkish citizenship can lead to eligibility for a US residency permit through the E2 Treaty Investor Visa program.

FAQ

Which countries offer Golden Visas or citizenship by investment programs?

Many countries around the world provide opportunities for obtaining a Golden Visa or citizenship through investment programs. Some examples include EU countries like Austria, Portugal (although their program is ending soon), and Spain. Other countries offering such programs include Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, Jordan, Montenegro, North Macedonia, and Turkey.

What is the concept of a Golden Passport?

A Golden Passport refers to a passport obtained through investment in a particular country. It is typically associated with programs such as Golden Visa or citizenship by investment schemes. These programs are commonly found in Caribbean and EU countries.

How can one acquire a Golden Passport?

Golden Passports are typically acquired through investment schemes, which can include international real estate investments, purchasing company shares, buying government bonds, or making capital transfers. These passports often provide high rankings in passport indexes, granting visa-free travel to numerous countries worldwide.

Which EU country offers the most affordable Golden Visa?

Among the EU countries, Portugal's Golden Visa was one of the most affordable options, . However, please note that this program has now ended. Malta doesn't have a Golden Visa program, but it does offer the Malta Citizenship by Naturalization for Exceptional Services by Direct Investment (CES) program.

Which country provides the best Golden Visa program?

While several countries offer Golden Visas, Cyprus and Portugal are often considered to have some of the best programs. Portugal's Golden Visa was particularly appealing due to its affordability,Malta doesn't offer a Golden Visa program, but through the Malta Citizenship by Naturalization for Exceptional Services by Direct Investment program, one can obtain a passport that offers extensive visa-free access to the world. Malta is known for its excellent travel freedom, safety, political stability, and benefits such as no residency requirements, English-speaking international schools, profitable real estate market, borderless travel within the Schengen Area, and access to special tax status. Naturalisation is possible after a specific period of residence.