A Golden Visa: The Route to Living Abroad Permanently
Golden visas, a popular route for international investors, offer residency, permanent residency, or even citizenship in exchange for qualifying investments. These programs are available in 21 countries, including many in Europe, the Caribbean, and Southeast Asia.
Investment Options
The investments that qualify for a golden visa vary, with common types including real estate, business investments or formations, and government funds. Some countries, such as the UAE, allow applicants to sponsor maids and professional domestic helpers. Others, like Spain and Turkey, offer options by simply depositing a specific amount in a local bank account for a certain period of time.
Cost and Eligibility
The cost of a golden visa ranges greatly, with some Caribbean countries requiring an investment of at least $100,000, while some European countries require millions. To be eligible, applicants must be at least 18 years old, have a valid passport, proof of investment, proof of financial resources, a clean criminal background, international health insurance, be in good health, and be of good character.
Application Process
Each golden visa has its own application process, which can be done entirely online, at an embassy or consulate, or through a registered agent and immigration professional. It is always a good idea to hire an immigration lawyer when applying for a visa or relocating to a foreign country, as they will review your documents and application, and communicate on your behalf with the necessary authorities to ensure your application is processed.
Timeframes and Age Limits
The entire process to obtain a golden visa can take anywhere from three to six months, but the quickest golden visa to obtain is Vanuatu, with a processing time of just 30 days. There are age limits enforced for dependents, and children should be applied for before they turn 21 years old.
Citizenship and Residency
Golden visas can lead to citizenship directly or after a naturalization period. Some countries, like Grenada, Turkey, St. Kitts and Nevis, and Vanuatu give applicants a passport right away. In most cases, obtaining a second citizenship through a golden visa allows you to keep your original citizenship, but it depends on whether your original nationality allows for dual citizenship.
Future Developments
Golden visa services are coming soon from Nomads Embassy, who are working to find hand-selected local immigration lawyers to assist readers with their visa applications worldwide. With the ever-changing landscape of global immigration, it is essential to stay informed and seek professional advice when considering a golden visa.
Benefits of a Golden Visa
A golden visa allows you to diversify both your lifestyle and assets by gaining a new permanent residency or citizenship, allowing access to another country at all times, and having more opportunities in a different market to invest and earn returns and capital gains. Golden visa holders can also sponsor extended family members, including parents, grandparents, and siblings.
In conclusion, golden visas provide a unique opportunity for international investors to gain a new residency or citizenship, while also diversifying their assets and lifestyle. With the right preparation and guidance, obtaining a golden visa can open doors to new opportunities and experiences.
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