While India is an incredible country, some of us want to explore the world. If you have been contemplating moving to a new country, Golden Visas are there to help you. Some countries allow citizens from other countries to obtain a residence permit or even citizenship.
To get a Golden Visa, you can either make a large investment, make a donation, or purchase property in the country you wish to move to. Countries like Spain even offer Golden Visas for those who may not intend to live there. In this article, we feature some of the countries that offer Golden Visas to Indians.
Indians can get a Golden Visa to these countries
Portugal offers one of the world’s most popular Golden Visa programs. To obtain residency in Portugal, one must invest a minimum of EUR 5,00,000 (Rs 4,07,70,812 approx.) to buy a property. If you are seeking residency in a low-density area, you’ll have to invest at least EUR 4,00,000 (Rs 3,26,16,650 approx.). You will also be eligible to get permanent residency or citizenship after five years of making the investment. The reason why most wealthy people apply for a Golden Visa in Portugal is the fact that they can get a second passport, which also grants them access to the EU and Schengen Area.
To be eligible for the Singapore Golden Visa, one must invest at least SGD 2.5 million (Rs 14,02,20,537 approx.) in either an existing business or set up a new business. You may also invest the same amount in an approved fun in Singapore or establish a single-family office there. That’s not it. You’ll also be required to have prior business experience and furnish your company’s financial accounts after audit. The Golden Visa program of Singapore allows you to get permanent resident status. You may also apply for citizenship after two years of becoming a permanent resident in Singapore. However, you won’t be able to have a dual citizenship.
To get the Canada Golden Visa, the country has numerous investment programs on offer. The most frequently used of them all is the Quebec Immigrant Investor Program (QIIP). Under this particular program, one has to make a bond contribution of a minimum amount of CAD 1.2 million (Rs 7,28,51,976 approx.). You can apply for citizenship after three years of making the investment. To avail of the rest of the investment programs, you have to reside in Canada for a minimum period of 183 days during a span of three years. This will make you eligible for citizenship.
The United Arab Emirates
While the UAE offers permanent residency by investment, you can’t seek citizenship by investment. The middle eastern country has 5-year and 10-year residency programs under the Dubai Golden Visa plan. If you want to be eligible for the 5-year program, be prepared to make an investment of at least AED 5 million (Rs 10,63,20,990 approx.) in a property in the UAE. For the 10-year plan, you’ll have to make an investment of AED 10 million (Rs 21,26,41,981 approx.) in public investments. You may also avail this plan if you are someone with exceptional skills and talents.
The United Kingdom
Indians have always had a special connection with the UK. The European nation offers permanent residency by investment. Under its immigration program, the UK has a Tier-1 Investor visa if you have the necessary funds to invest. You will have to make an investment of at least GBP 2,000,000 (Rs 19,00,29,131 approx.) in a regulated financial institution. You can also apply for British citizenship after a few years if you qualify. No citizenship by investment is offered by the UK.
To get a Golden Visa for Spain, you will have to apply for its residency-by-investment program. The program lets you be a permanent resident after five years of making an investment. The real estate investment should be of at least EUR 500000 (Rs 4,07,68,000 approx.). Once you start living in Spain and complete ten years, you can also get citizenship. Even after getting a Golden Visa through investment, you will be required to continue renewing your permit in a span of every two years until you gain permanent residency.
Switzerland’s Golden Visa program is nothing like those of the other nations on this list. You don’t have to buy real estate. You don’t have to invest in either funds or government bonds. You just have to show proof of paying annual taxes between CHF 150,000 (Rs 1,17,66,003 approx.) and CHF 1 million (Rs 7,84,40,025 approx.). If you want Swiss citizenship too, you will have to live there for a minimum of 10 years.
Greece is also one of the most-loved countries by Indians. There has been an increased demand for the Greece Golden Visa among Indian citizens. As an Indian, you can be eligible to get a permanent residency in Greece if you are a Non-EU citizen and ready to make an investment of EUR 250,000 (Rs 2,03,84,000 approx.) in real estate. You can also purchase a plot of land worth at least EUR 250,000.
And last on our list is Malta. To get a Golden Visa for Malta, you will have to be at least 18 years old. Your minimum income should be EUR 100K (Rs 81,53,600 approx.)per annum or you must have a capital of EUR 500K (Rs 4,07,68,000 approx.). You will have to buy a property worth at least EUR 320K (Rs 2,60,91,520 approx.) or rent one for at least EUR 12,000 (Rs 9,78,432 approx.). You will have to submit an admin fee to the Malta government of EUR 30K and invest at least EUR 250K (Rs 2,03,84,000 approx.) in government bonds for 5 years.
This story first appeared on Travel +Leisure India.
Frequently Asked Questions (FAQs)
Answer: A Golden Visa refers permits individuals to obtain and residence permit or citizenship in another country. To get a Golden Visa, one has to buy a property or make an investment or donation in that country.
Answer: There are a lot of countries which offer a Golden Visa immigration program. Some of these include Anguilla, Antigua, Vanautu, Turkey, Grenada, to name a few.