Golden visas in Europe: residency by investment
The Golden Visa for Europe is a special type of visa or residence permit for wealthy foreign citizens. To obtain it, it is necessary to invest significant capital in the country. As a general rule, visitors to the European Union (EU) and the Schengen area must have an ETIAS visa waiver (from 2022) or a Schengen visa. However, the rules are different for foreign nationals who plan to settle in a European country or even obtain nationality. Several countries in the EU and the Schengen area have a golden visa program that allows foreign investors to become residents. Easy way to get Europian residency St Kitts & Nevis by clicking on the highlighted link and read more about it below;
WHAT IS A GOLDEN VISA IN EUROPE?
A golden visa is a type of permit that paves the way for residence and even nationality in a foreign country. It is issued on the basis of investments, generally to wealthy people. Golden visa programs allow foreign citizens to become residents by purchasing property in the country or by making a large investment or donation. The amount of money to invest depends on the country or territory in question. Several European countries have a golden visa program, including several Member States of the EU and the Schengen area.
BENEFITS OF THE EUROPEAN GOLDEN VISA
European golden visas have several advantages for foreign citizens. First, people who invest in an EU or Schengen area country and apply for a golden visa become legal residents in that country. Their spouses and children also obtain residency. Thanks to the golden visa, they can:
- Live in the country
- Receive education in the country
- Have access to the country’s health system
After a certain period under the status of resident, the holder of the golden visa can apply for the nationality. The length of time required depends on the country in question. One of the main advantages of the golden visa for an EU or Schengen country is the possibility for residents to move freely in the region. Foreign citizens who are not residents of the Schengen area must have a visa or, from the end of 2022, apply for an ETIAS visa waiver online.
HOW TO OBTAIN RESIDENCE AND NATIONALITY IN THE EU
Wealthy individuals from countries outside the EU and the Schengen area can obtain residency by investment. The exact rules depend on the country, but the following options are the most common:
- Invest or start a business
- Buy government bonds
- Buy or invest in a property
- Make donations to projects and organizations across the country
In some cases, European nationality can also be obtained by investment. Other countries usually allow residents to apply for citizenship after a certain time in the country.
THE EU’S POSITION ON GOLDEN VISA PROGRAMS
The European Union has frequently expressed concerns about the Golden Visa programs. Several allegations of corruption have been raised during the process of issuing permits, and even nationality, in European countries. In addition, the EU has also highlighted security issues. Foreign nationals can obtain residence and / or nationality of an EU or Schengen country easily, and can then move freely in the region without applying for a visa. Therefore, they are only controlled by the country that granted them residence / nationality.