Immigration to Europe and obtaining a residence permit in exchange for investment are gaining popularity yearly. There are many low-cost schemes for foreigners in different regions with different costs. It is worth considering the cheapest golden visa programs.
Introduction
Residency by investment programs has many benefits, often exceeding the scheme’s cost. However, it is essential to note that investments also have an important role in the country and contribute to improving the economic level. So, many countries implement such schemes, list applicants’ requirements, and determine the service cost.
What is a Golden Visa Program?
The scheme to obtain a residence permit in exchange for a significant investment is called a golden visa. Subsequently, its holders can apply for citizenship on favorable terms. Moreover, in addition to the lead applicant, it is allowed to enter the closest relatives in the application form. Thus, the benefits will cover them.
As the expert of the company Immigrant Invest Evgeniya Morozova notes, the scheme is implemented through:
- acquisition of immovable property;
- non-refundable donations;
- contributions to a business.
The scheme offers many advantages to the investor:
- freedom of movement across a considerable number of regions;
- the possibility of obtaining a second passport;
- an “alternate airfield”;
- the opportunity to receive a quality education;
- access to modern medicine;
- the opportunity to open an account and keep funds in reliable banks.
Requirements and privileges vary depending on the selected land. Therefore, it is worth carefully reading all the information before processing documents. For comprehensive details on various golden visa programs and their benefits, you can refer to the Global Residence Index.
EU investor visa allows you to stay in any of the regions unlimitedly. The key features of these lands are a short waiting period for papers, adequate cost, transparency, and algorithm clarity. However, the applicant has some obligations despite all the freedoms. For example, living a certain number of days in the region, the investor becomes a taxpayer and must make the necessary deductions. This status is most often obtained by staying in the territory for more than 183 days.
Top 5 Cheapest Golden Visa Programs
Let’s look at the most accessible land for investors among the possible schemes. Beautiful scenery, ancient history, and delicious food attract foreigners no less than other privileges. Choosing a country and a scheme, deciding what benefits you want, and how much to invest is essential. It is also important to determine what path of naturalization is preferable.
Portugal
Portugal is almost the most sought-after republic. A pleasant climate, low crime rate, and affordable living prices attract many foreigners every year. The cost of the scheme:
- 280 thousand euros for the purchase of residential space in low-populated areas;
- 350 thousand euros for apartments in major cities.
It is allowed to acquire not only private apartments, but shares in hotels. Such deposits pay off, so migrants choose them more often than others. After five years, the applicant can claim citizenship of the region.
Greece
Greece is also an available and in-demand country. The minimum amount of investment in real estate is 250 thousand euros. It will be necessary to pay a tax fee and other costs, which average a tenth of the cost of housing. The scheme allows you to get a residence permit and 400 thousand euros as a deposit.
Spain
Spain also revived and strengthened the economic sector by issuing golden visas. It is not the cheapest golden visa as the starting price of 500 thousand euros. The rich culture, the measured pace of life, and the safe environment attract foreigners. Families with children or wealthy retirees often choose this region. The reason for this is the high level of medicine and education system development. The permanent residency can be obtained in 5 years, and the passport in 10.
Latvia
You can get a residence in Latvia for 250 thousand euros invested in apartments or bonds. The Republic does not require you to stay permanently on the territory. However, you can obtain a second passport only after ten years. In addition, you must pass a language exam. Important! It is prohibited to have dual citizenship in Latvia. An exception is the Union State.
Malta
The newest and currently the cheapest golden visa is offered by Malta. The minimum value is 100 thousand euros. Moreover, it is allowed not only to buy but also to rent living space. You can get a passport in the region if you want to in 5 years. However, there are some nuances:
- the deposit is non-refundable;
- it is necessary to have 500 thousand euros as assets.
It is worth weighing the pros and cons in selecting an acceptable scheme.
Conclusion
Despite the general similarity, the programs have their features and differences. The best option is to contact an agency that will help solve all migration-related problems. After all, this process is quite thorough, and a mistake can cost you a high price. Compliance with requirements and laws can reduce the waiting time for application confirmation. Specialists will find the cheapest residence by investment, offer proven options for apartments and premises for purchase, and help draw up a contract of sale. Agents accompany clients from the stage of selecting the region to the receipt of the papers.
