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Posted by admin on March 15, 2023
Golden Visa
Programs called “Golden Visa” have gained popularity in recent years. So, what exactly do these programs mean? Golden Visa is the name given to the temporary residence permit obtained in the host country where a qualified investment is made. The permit offers the applicant the opportunity to travel visa-free across a number of countries, as well as the general right to live and work in that country.
The most popular countries with the Golden Visa program in Europe are; Spain, Portugal and Greece. In this article, we will take a closer look at each and compare the three programs based on various criteria.
Who Can Apply for Golden Visa?
Technically, anyone with a clean criminal record who is not an EU, EEA or Swiss citizen can apply for the Golden Visa programs in Spain, Portugal and Greece as long as they make a qualifying investment.
The communities mentioned below generally find the mentioned residence permit programs with investment attractive;
Citizens from Developing Nations and Developing Countries
Many people in developing countries have access to many opportunities, but still desire access to the opportunities, healthcare, education, security and stability of developed countries.
Golden Visa programs provide the most benefits for this group. The programs provide them and their families with the above facilities as well as hassle-free travel. The programs can even enable European citizenship as long as their requirements are met.
Investors and Business Owners
These programs are attractive to investors and business owners who want to spend a significant amount of time in Europe. The program in all three countries allows the applicant to have unrestricted access in EU Schengen countries. So, if your aim is to live, work and travel in Europe, these permits may be useful.
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Turkish Citizens
Recently, there has been an increasing demand among Turkish investors for Spanish, Portuguese and Greek programs. Buying a secondary residence in Europe for their family is attractive to many investors.
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Turks are in third place among the top five nationalities investing the most in the Portugal Golden Visa program as of 2022
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Help with the choice
Second citizenship helps register a business abroad, open a corporate bank account, avoid currency control restrictions and expedite money transfers. Some jurisdictions also do not reveal beneficiaries’ personal data, protecting the investor’s privacy.