The Golden Visa application process for EU citizenship includes a number of steps and pathways, such as purchasing real estate, transferring funds, or starting a business. Typically, applicants are required to invest a significant amount of their savings in one of these programs. Depending on the country, the investment amounts might vary from €250,000 to €500,000. Sending money to government bonds or recognized investment funds are two examples of capital transfer options; nevertheless, company registration requires establishing or investing in a business that meets specific criteria.
Leading Destinations for EU Residency and Citizenship by Investment
We have gathered the key information for you on citizenship or residency through investment programs that have been on the rise recently in Europe.
Greece Golden Visa
One of the most popular choices for European residence by investment schemes is the Greece Golden Visa. The Greece Golden Visa is one of the most popular and in great demand as foreign investment opportunities and worldwide mobility become backup plans for many investors. The Greek government made certain changes to the program as of early 2024, which might be a shift for potential investors. This modification has resulted in a regional rise in the investment levels needed from investors.
A citizenship by investment program is not what the Greece Golden Visa program is. After seven years, though, you may be eligible to apply for Greek naturalization provided you meet specific conditions.
Portugal Golden Visa
The Portuguese Golden Visa offers a number of affordable investment options for obtaining a residency visa. The fact that Portugal just requires a minimum of seven days per year is one of the primary benefits. Your freedom of travel throughout Europe is further enhanced by this program, which allows you to visit the Schengen states without a visa.
Portuguese citizenship can be obtained in five or six years. Portugal is well known for being an affordable, secure, and safe country with excellent infrastructure, a pleasant climate, top-notch medical and educational facilities, and a decent level of living.
Italian Golden Visa
In addition to providing its holders with several benefits, the Italy Golden Visa program seeks to draw in foreign direct investment. You can seek for Italian citizenship and take advantage of a unique tax regime after ten years. Additionally, you can apply with your family and take advantage of free travel inside the Schengen Zone. You and your family can work in Italy and use the public healthcare system there with this visa. Additionally, compared to other European programs, the Italian investor visa application process is quicker and easier.
Spain Golden Visa
For non-EU nationals who want to pursue their career or personal goals in Europe, the Spain Golden Visa Program is a great option. In addition to allowing you to live, work, and study in Spain, it may eventually result in citizenship and permanent residency. After five years of temporary residence under this residency by investment scheme, you can apply for permanent residency. After 10 years of permanent residency, you can apply for citizenship through the naturalization process provided you satisfy certain conditions.
Residence Permit vs. Permanent Residency: Key Differences
You can remain in the country for a certain amount of time with a resident permit, which is a temporary permission. It may be subject to limitations and often has to be renewed. On the other hand, you are free to stay in a country for as long as you choose if you have permanent residency. Permanent residents are not allowed to vote or get a national passport, while having access to healthcare, education, and many other privileges like citizens.
What Are the Costs of Obtaining European Citizenship?
In Portugal, a qualifying fund investment of at least €500,000 is required. Greece’s Golden Visa Program mandates a minimum real estate investment of €500,000. The Maltese Citizenship Program requires investments ranging from €700,000 to €1,460,000. Spain’s Golden Visa Program offers several options, including real estate valued at €500,000, €2 million in government bonds, or €1 million in shares of Spanish companies. Italy has set thresholds of €1 million for charitable donations, €250,000 for innovative startups, €500,000 for limited corporations, and €2 million for government bonds. Investment costs may vary depending on the specific program or fund in each country. These investments can lead to residency or citizenship.