European golden visa programmes offer an excellent opportunity to Non-EU persons to immigrate to Europe by investing in real estate. Buying an immovable property, buying bonds or creating jobs are some of the common investment options that qualify for ‘Golden visa’ in Europe. All investors and family members will be given permanent residence permit based on investment activity which will allow them to move freely in Schengen states. Golden visas provide only residency and does not necessarily lead to automatic citizenship. You must have lived for over 5 years (not absent for more than 3 months), pay taxes, speak language and integrate to local culture, to naturalise for citizenship.
Please note Cyprus is not in Schengen zone, so one has to be careful investing in cyprus golden visa program. Most golden visas issued is valid for 2 to 3 years which can then be extended by visiting personally at the migration office.
Golden visa once approved, you have the option to ask for short term (C ) or long term visas (D visa ). If you are not interested in receiving residency (long term D visa), you can ask for schengen short C visa with multiple entries valid for maximum 90 days stay. One difference is C visas can be renewed only at embassy in home country, while D visa residence permits can be renewed within the country that issued golden visa.
Here are the cheapest golden visa programs in Europe:
1. Malta
Malta requires about €125,000 (all inclusive) investment in financing government bonds to receive permanent residency (green card) in Malta. This includes €30,000 Govt fee . Maltese citizenship after living 5 years. There is no requirement to live or reside in Malta under the program. You may have to visit Malta once in one or two years to renew your residence permits. Malta is in schengen. It is a passive investment (sleeping investment) program ideal for many investors
2. Latvia
Latvia requires about €100,000 business investment in Latvia and create jobs.Remember it is an active investment and you must have business experience and create jobs. Other passive investments such roperty investment is more expensive €270,000 for golden visa. You can receive permanent residency in 2 months. Latvian citizenship after 9 years of living. Latvia is in schengen.
3. Belgium
Belgium requires about €200,000 first year investment in a business in Belgium for a golden visa. You can receive temporary residency in 2 months and citizenship after 5 years of living. Belgium is a great country, to live and do business in Europe.
4. United Kingdom
UK has cheaper version of tier1 program requiring only £200,000 investment to get an entrepreneur visa. The investment requires you do business in the UK and create jobs. You may also settle there with family. The UK program is still of interest to many because of cheaper pound value because of Brexit. It will take 6 years of living to get british passport. UK will separate from Europe in 2018.
5. Greece
Greece requires about €250,000 investment in real estate to receive a golden visa. You can receive permanent residency in 2 months. Greece is in schengen. Citizenship after 7 years of living.
6. Netherlands
Netherlands has a cheaper version of golden visa program requiring little less than €200,000 investment for 5 years to qualify for a golden visa with permanent residency. You can qualify for dutch residence permit with spouse and children. Access to dutch citizenship after 5 to 6 years of living in Netherlands.
7. Cyprus
Cyprus requires you to invest €300,000 plus VAT (19%) in a immovable property in Cyprus to receive permanent residency under golden visa scheme. Keep in mind that Cyprus is not in schengen so for non-eu persons your permanent residency visa will not give access to schengen zone. You need Visa! Cyprus is not the country for you if you want visa free movement in schengen countries.
8. Portugal
Portugal is the best and most popular golden visa program in Europe requiring €350,000 property investment (outside Lisbon) or €500,000 (in Lisbon) for a permanent residency. You have to visit Portugal once a year to keep your permits valid. There are cheaper routes but the application process is complicated and there is a chance you may not be approved of golden visa. Golden visa laws in Portugal have provisions for access to Portugese citzenship after 6 years of living. Portugese real estate market is on a boom and expect good returns on your investment. Portugese golden visa investments crossed 3 billion euros in 2017.
9. Spain
Spain requires you to invest or purchase €500,000 in an immovable property to receive spanish golden visa with permanent residency including family members. You are required to visit Spain once in one or two years. Spanish real estate market soared in recent years and big property investments in luxury properties bring profitable rentals. Access to spanish citizenship possible after 10 years of uninterrupted living in Spain. You are not required to live permanently in Spain after receiving golden visa. Spanish golden visa program received 2 billion euro investment in 2017.
10. Ireland
Ireland offers entrepreneur visas to investors who invest €100,000 in Irish enterprises with two or three founding members. One of the important requirements to receive irish residency is robust business plan and create jobs employing local people. Spouse and children also qualify for irish residence permit if shown evidence of financial support. Citizenship in Ireland possible after 5 years of living.
11. Italy
Italy requires about €500,000 investment in an italian business to receive temporary residence permit valid for 2 years in Italy. There are no minimum residency requirements. The investment must create more italian jobs and most importantly bring economic benefit to Italy. Access to Italian citizenship after 10 years of living and passing italian language test.
12. Germany
Germany requires about €200,000 business investment in new or existing german companies with the requirement of creating jobs. German citizenship after 8 years of living in Germany. Passive investments such are real estate not eligible.
13. Croatia
Croatia requires about €100,000 business investment in new or existing german companies with the requirement of creating jobs to receive long term residency in Croatia. Croatian citizenship after 8 years of living in Croatia without interruption. Please note Croatia is not in Schengen.
14. Ukraine
Ukraine requires about €200,000 to receive a business investment visa. Please note Ukraine is not in Schengen. Recently Ukraine passport holders have been approved of visa free travel to schengen zone, so Ukraine passport has become very valuable. Ukraine citizenship possible after having resided in Ukraine for at least five years, being able to function in the Ukrainian language, and being knowledgeable of the Ukrainian Constitution. The individual is required to voluntarily renounce any foreign citizenships they may hold.
15. Romania
Romania requires about €100,000 to receive an investment visa with temporary residency in Romania. Please note Romania is not in Schengen zone. Access to Romanian citizenship after 8 years of living uninterrupted in Romania.
16. Hungary
Golden visa residency bond program in Hungary is closed
17. Georgia
Georgia issues residence permits given to foreign investors who invest over € 110,000 euros (GEL 300,000 lari) in businesses in Georgia. It is called “Investment residence permit” is issued to a foreign citizen who invested at least GEL 300 000 in Georgia. The permit is also issued to investors family members – spouse and children. Investment residence permit to investors are issued for an indefinite term. Georgian citizenship/passport after 5 years of living in Georgia. Please note Georgia is not in Schengen. Recently EU approved visa fee travel to schengen countries for Georgian citizens, making the value of Georgia passport all the more valuable.
