Enough money can buy you almost anything, including legal residency.
Some countries provide full citizenship to foreigners who invest in the country via so-called golden visas.
What is a Golden Visa?
Also known as “investment housing,” Golden Visas are issued to those who purchase real estate, create a company, or donate money.
Interest in the Golden Visa among Americans spiked late last year after President Donald Trump won his second presidential election, according to Bloomberg.
Visas are usually aimed at wealthy individuals who can pay for the costs.
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“The Golden Visa provides investors and their families with access to new markets for global business, career, education, healthcare, tax and lifestyle opportunities for current and future generations. “We’re looking for a global residence and citizenship planning company, according to Henry & Partner.
Many Golden Visa programs allow successful applicants to apply for citizenship after several years of residence.
Which countries issue golden visas?
The US does not technically have a Golden Visa program, but it offers the EB-5 Immigrant Investor Program. This provides legal permanent residency to investors under the age of 21, their spouses and children. The applicant must invest. Plans to create or preserve 10 full-time jobs for US commercial businesses and American workers.
Portugal’s Golden Residence Permit Program provides citizenship eligibility after five years. The country began offering golden visas in 2012 to non-European union citizens who spent at least $557,000 on their property, investment or company.
The Greek Golden Visa program allows investors to apply for citizenship in seven years, and the Italian Resident Investment Program will allow it in ten years.
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Spain and Hungary launched similar programs in 2013, but Spain said it would halt the issuance of Golden Visas in April. Demand for Portugal and Greece has been growing since Spain’s announcement, according to Forbes.
Several countries follow suit due to concerns about corruption and fraud. The Netherlands ended their Golden Visa Program in January 2024, while the UK and Ireland ended their programs in 2022 and 2023, respectively.
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