Golden visas explained: Countries offering residency by investment and is it easy to get one

Donald Trump has stirred a hornet’s nest by indicating that he will relaunch EB-5 visa scheme that helped several Indians get 5 year stay in the United States. Trump administration has now decided to increase the investment criteria and rebrand it as Tump’s ‘golden card’. Individuals or companies will now have to pay $5million instead of the $800k-$1M on EB-5 to sponsor wealthy individuals to BUY a green card to the USA with a path to citizenship! 

Even though United States took a cue from its Western European counterparts, citizens from China, Russia, India and middle east countries for citizenship, a Bloomberg report claims high number of Americans are interested in moving to other countries after Trump won the divisive presidential election.

What is the US ‘Gold Card’? 
Trump’s “gold card” visa is expected to give investors legal residency privileges similar to the green card permits issued to US permanent residents. It will also offer a path to citizenship. It will replace country’s EB-5 visa program, which allows immigrant investors to acquire green cards by investing $800k-$1million toward a business in the US.

The EB-5 Immigrant Investor Program was created in 1990 so that capital investment by foreign investors could help stimulate the US economy and create jobs for Americans. US Commerce Secretary Howard Lutnick suggested that under the gold card plan, funds for the visa might be paid directly to the government to reduce the deficit. 

What is a golden visa and how to make an investment? 
Golden Visa is a sure-shot path to residency for the wealthy as it provides them “residence by investment.” It allows individuals to obtain temporary or permanent residency in a given country so they can live and work there. The investment options can vary – it may include buying a house, creating a company, and even making a donation.

Who opts for a Golden Visa? 
In many cases, it’s used by individuals who often travel to another country for leisure or worth, without any intent to settle there. It’s treated as useful plan B for people who want the option of travelling to those places but have no intention of settling there permanently. 

Which countries offer a Golden Visa and is it easy to get one? 
UAE is the most favoured nation for Indians for a Golden Visa, it allows a long-term residency, valid for up to 10 years. An individual needs to deposit AED 2 million in an investment fund accredited in the UAE. One needs to have ownership of a company with a capital of at least AED 2 million and pay at least AED 250,000 in annual taxes to the UAE government. 

Hungary restarted a new version in 2024, allowing those who put at least €250,000 into local funds or €500,000 into Hungarian real estate

The UK, Ireland, the Netherlands, Greece and Malta have either ended or tightened the rules around their golden visa or equivalent policies. 

In Portugal – an individual can no longer get a golden visa by buying property. One is expected to invest in a qualified investment fund worth at least €500,000, scientific research activities, or investing in the share capital of a company that creates five jobs or maintains 10 jobs. 

Greece has increased the investment fund for a golden visa to €400,000.

In Caribbean the cost of buying golden visa for residency is rising, all five nations of Dominica, Grenada, St. Kitts and Nevis, Antigua and Barbuda and Saint Lucia charge at least $200,000, as the programs make up more than half of the national revenue of some tiny island nations. 

Spain said in April 2024 it would also end its program as it tries to increase the amount of affordable housing available for locals. 

Neighboring Portugal amended its program — one of the most popular in Europe — by removing real estate investments as a basis for golden visa applications.

In January Australia paused applications for individuals who invest more than A$5 million ($3.5 million) into the country — part of a broader immigration policy overhaul designed to entice more skilled migrants. 

New Zealand on the contrary has relaxed provisions to get a golden visa program to attract wealthy immigrants and help spark an economic recovery after a sharp recession in 2024. Individuals no longer require English language test, scope of acceptable investments has gone up, and length of stay is also more investor-friendly.

Source: https://www.financialexpress.com/business/investing-abroad-golden-visas-explained-countries-offering-residency-by-investment-and-is-it-easy-to-get-one-3760973/