Golden Visa Options In Europe For Entrepreneurs

Are you a business professional who wants easy access to markets in Europe? Do you have a great business idea and wish to execute it? There are several options for entrepreneurs like you in European countries. Which countries can you get a Golden visa in? 

In this article, we will discuss the concept of the Golden Visa and the various options an entrepreneur has for acquiring a Golden Visa across Europe.

What Is A Golden Visa?

A Golden visa is issued by the competent authorities within the Schengen area to a person to facilitate his business activities. The requirement of having citizenship is usually relaxed for visa holders of this type. Consequently, the holder of the Golden Visa will not be required to possess the citizenship of the country in question, and they are free to pursue their business interests. 

These visas usually cater to the very wealthy who wish to become citizens of a country by investing a substantial amount of money. The investment can be made in the specified sectors of the economy, such as real estate, banking, corporate bonds, etc. The objective is to strengthen the finances of the country through foreign investment.  

How To Choose The Best Golden Visa For Yourself? 

The entrepreneur needs to do thorough market research. They would have decided to relocate to a new economy for specific reasons. These are likely the lack of certain factors of production in the domestic economy or the lack of attractive market opportunities. Consequently, they need to be clear that the new economy has the workforce, natural resources, or market demand in the industry where the entrepreneur is keen to operate. 

In the process, you also need to take a call as to which country would be most suitable for you to establish your fledgling business. One way to do so would be to consult the GlobalResidenceIndex.com. 

What Documents Are Required For A Golden visa?

• The visa application form
• Valid passport
• Proof of original country
• Documents attesting to the mandatory investment
• Proof of sufficient economic funds to sustain oneself 
• Health insurance

Why Are European Countries Offering Golden Visa Options To Entrepreneurs? 

European economies have been facing a financial crunch following the 2008 economic crisis. Consequently, they decided to offer easier access to entrepreneurs in their country in exchange for investment. 

This strategy is slowly paying off, with entrepreneurs relocating to European countries for better opportunities. Not only does it bring in capital, it is also beneficial in dealing with other structural issues such as labor shortage, slow industrial growth, etc. 

Best Countries For Getting A Golden Visa

Here are some of the best countries for getting a Golden Visa 

Spain

The Spanish Golden Visa is initially valid for one year, following which it can be converted into a residence permit for two years. 

Most significantly, the Spanish Golden Visa is one of the most decisive ways to get Spanish citizenship. Because this visa leads to so many conversions to citizenship, it is also known as Spain Citizenship by Investment. 

Eligibility: Documentary proof that at least one of the investments has been made. Valid health insurance has been purchased in Spain. No track record of Schengen visas that have been rejected. 

Investment options: The Golden Visa is granted in the case of investment in either of the following: 

An amount of at least 500,000 Euros in real estate property. An amount of at least 1 million Euros in the shares of a company or deposited in a Spanish bank. Investment in the public debt of the Spanish government. 

Other routes to getting a Spanish visa include investing in a Spanish business that is deemed as creating employment opportunities for the citizens of Spain. Another option would be to make exceptional contributions to science and technology. 

Benefits: Family members will also receive Residence permits, allowing residence in Spain. They can also avail themselves of the Spanish healthcare and education system. If the individual chooses to live in Spain, they become eligible for permanent residence after five years. 

After holding a Golden Visa in Spain for ten years, the individual will be entitled to a Spanish passport, provided that they speak at least basic Spanish, possess a basic understanding of Spanish history and culture, and have stayed in Spain for at least 183 days annually. 

Portugal

Eligibility: A language test will have to be cleared, and ties to Portugal would have to be proved. 

Investment options: Real estate may be purchased with a value of not less than 500,000 Euros. Investment promoting research and development activities in the field of science worth 350,000 Euros. 

Investment promoting the arts or cultural disciplines worth 250,000 Euros. Investment in emerging businesses classified as a small or medium scale to the tune of 500,000 Euros. Alternatively, the individual may demonstrate that they are personally responsible for the creation of ten job positions directly. 

Benefits: Residency will be granted to the investor upon investing 280,000 Euros in the economy. If the individual wishes to get their residence permit, they need not relocate to Portugal. Staying there for only five days annually will entitle them to the same.

Greece

Eligibility: Health insurance should have been purchased from a company in Greece.

Investment options: Investment in the real estate industry worth 250,000 Euros. A minimum of 400,000 Euros is invested in the bonds issued by the national government or in a bank deposit or company in Greece. 

Benefits: The holder of the Golden Visa becomes eligible for full-time citizenship after seven years of residence. Travel throughout the Schengen area is allowed. The Golden Visa would also apply to children, spouses, and parents.

FAQs

Does my Spanish Golden Visa entitle me to travel across Europe? 

Within the Schengen area, the holder of the Spanish Golden Visa would be allowed to travel without requiring the visa. This would be applicable for up to 90 days within an overall period of 180 days. However, in the case of countries outside the Schengen area, there might be other visa requirements; consequently, it is not guaranteed. 

For how long is the Greek Golden Visa issued?

It is issued for a period of five years.

How long do you need to stay in Greece to be able to renew the Golden Visa?

You do not need to stay in Greece to renew the Golden Visa. You can keep renewing it every five years as long as the investments are intact. 

Will my residence in Portugal under the Golden Visa Program make me liable for taxes? 

This will happen only if you spend more than 183 days in the country. In that case, you shall be treated as a tax resident of Portugal. 

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