One route to citizenship of a country not originally one’s own, not even a country one spends much time in, is via the famous Golden Visa. Through their so-called Golden Visa programs, countries open their borders to those prepared to invest a sizeable amount of money, purchase property, or create jobs even if they live elsewhere for most of the year. Although Citizenship or Residency by Investment are alternative names for the program, the term “golden visa” is a colloquial one.

• Which countries offer golden visas?

Many countries have golden visas, of which European Union countries and several parts of the Caribbean are included, but not limited to. Every country has its own set of rules and requirements for a would-be golden visa or investing-for-citizenship applicants. However, most offer investors the possibility of acquiring a resident’s permit without having to relocate fully to the country in question. Note also that the rules change from year to year, so make sure any information you get is up to date. While golden visas like the Portugal visa investment eventually lead to permanent citizenship, some countries require that for you to become a permanent resident, you must have spent a few years living in the country.

• Tips for golden visa applicants

Research the program

Deeply study the golden visa that interests you before plunging into it, before deciding to apply, understand and learn the primary components that come with it, including requirements for investments, residency obligations, and benefits accrued from the program.

Working with a professional

Application for a golden visa is rarely a wise do-it-yourself project. You can work with a professional with experience in golden visa programs, an immigration lawyer, or a financial adviser. Experts will save you time and money by providing advice and tips at every stage of the application process.

Plan

Golden visa applications can be very long. This means proper planning in advance, leaving enough time for such a process to take its course. Consider carefully what needs to be provided with the application and assemble the documents as required with the guidance of one’s expert.

• Benefits of a Golden Visa

Citizenship or place of residence: You and your family may reside and work in a nation where you hold a golden visa. You may occasionally be able to petition for citizenship based on the amount you have invested.

Travel: Having residency grants you the freedom to travel wherever in the nation that runs the program. European countries offering golden visa programs like the Portugal visa investment include the right to travel within the European Union. It makes traveling on both business and pleasurable trips easier without additional visas.

Education: Access to local public and university education systems is provided by the majority of golden visa schemes.

Healthcare: Depending on which country is offering the program, holders of a golden visa may gain local healthcare benefits.

Taxation benefits: Some programs offer tax incentives, such as low personal income rates or exemptions on foreign-sourced income.

Real estate investment: Investing in foreign real estate is a major means of getting a golden visa. It also gives you the chance to earn rental income and see your investment’s value increase.

If you apply for a golden visa, just be ready to wait for some time, especially if the country in question is well-known for taking a little more time than other countries. Have all your paperwork ready and current; an incomplete or outdated one only results in additional delays.