Bay Street Capital Holdings

Key Takeaways

A Golden Visa is a residency by investment program offered by various countries around the world, that allows individuals and their families to obtain residency in a foreign country by making qualified investments in the country's economy.
European Golden visa programs continue to attract foreign investors and grow in popularity. In 2023, it is reported that Golden Visas generated $27+ billion in Europe via direct investment.
Some common investment options include real estate, government bonds and business investments.
The 5 most affordable Golden Visa programs in Europe are offered by Greece, Latvia, Malta, Portugal and Spain.

Disclaimer

The contents of this article are for educational purposes only. They are not intended to be a source of professional advice. You will find experts on investing and Golden Visas here.

Invest with Bay Street for an opportunity to secure a Portugal Golden Visa

Over the years, Portugal has grown to become a popular investment destination for investors due the affordable investment options that it offers investors. As an investor considering investing in Portugal, our Alt Path hotel fund can help you gain access to the Portugal hotel investment industry. Bay Street Capital Holdings is currently working on building and operating boutique hotels in Portugal, having secured 45-55% cash incentives from the Portuguese government.

In the US, Bay Street Capital Holdings operates properties in Lake Tahoe and Los Angeles. These properties have recorded significant profits over the duration of operation. If you're keen on diversifying your portfolio to include hotel investments, let us help you invest in Portugal through our Alt Path hotel fund. In addition, we work with a team that specializes in Golden Visas and they can help you through the application and investment process for a Portuguese Golden Visa.

To speak to our team today, schedule an appointment with us.

What is a Golden Visa?

A Golden Visa is a residency by investment program that is offered by various countries around the world, that allows individuals and their families to obtain residency in a foreign country by making a qualifying investment in the economy of the host country.

Depending on the Golden Visa program that you're interested in, the specific requirements and benefits vary from country to country. However, Golden Visas typically involve making an investment in real estate, government bonds, businesses or other qualifying assets in the host country. In return, investors and their families are granted temporary or permanent residency status, which may eventually lead to citizenship in some cases.

With a Golden Visa, some of the benefits that investors get to enjoy include visa free travel across numerous countries, tax benefits and a high quality life.

5 Cheapest Golden Visas in Europe

As an investor looking to obtain an EU Golden Visa, here are some of the most affordable options for you.

Greece

The Greece Golden Visa is among the cheapest golden visas in Europe with an application timeline of roughly 3-6 months. With benefits ranging from visa-free travel to inclusion of family members, Greece continues to attract foreign investors looking for alternative investment avenues and a second home.

Qualified Investment Options

To qualify for a Greek Golden Visa, investors can make the following real estate investments:

Purchase real estate property in Greece worth at least €250,000, except in these municipalities: Athens, Thessaloniki, Mykonos and Santorini. This investment can be made on one property or across multiple properties.
Purchase real estate property worth €500,000 in these municipalities: Athens, Thessaloniki, Mykonos and Santorini. This investment should be made on one property.
Get a 10-year lease for hotel accommodations or furnished tourist residences.

Other viable investment options include:

Deposit €400,000 into a Greek bank.
Invest €400,000 into a company that is registered or has its establishment in Greece.
Buy shares worth €400,000 in a real estate investment company.
Invest €400,000 in Greek government bonds.
Invest €800,000 in shares or corporate bonds traded on regulated markets by companies operating in Greece.

Application Requirements

Main applicant should be at least 18 years old.
They should be a citizen of a country that is not a member of the European Union or EEA.
Have a clean criminal record.
Applicants and their families should be in good health and have medical insurance.

Benefits

A Greece Golden Visa offers various benefits including:

Visa-free travel across the 26 European countries in the Schengen zone.
Greece has a low minimum investment amount of €250,000 in Greek real estate except in municipalities in Athens, Thessaloniki, Mykonos and Santorini.
The program allows investors to include their family members including their spouse and children under the age of 21.
No minimum stay requirements to maintain residency status.
Individuals and their family enjoy the right to live, work and study in Greece.

Latvia

Launched in 2010, Latvia's residence by investment program is among the longest running Golden Visa programs. The program is mainly tailored towards high net worth investors and it offers the cheapest Golden Visa investment option.

Qualified Investment Options

To qualify for a Latvian Golden Visa, investors are required to:

Purchase non-interest bearing bonds worth at least €250,000.
Buy real estate property worth at least €250,000 and pay an additional 5% of the property’s value in government fees.
Deposit €280,000 into a Latvian bank and hold this investment for at least five years.

Invest €50,000 in a new or already existing company and create jobs for up to 50 workers. The company is expected to have an annual turnover of less than €10 million. In addition, the investor is also required to pay €10,000 in government fees.

Application Requirements

Main applicant should be over the age of 18 years.
They should have a clean criminal record.
Applicants are required to have health insurance.
Be citizens of countries outside the EU.

Benefits

Some of the benefits that come with a Latvia Golden Visa include:

Visa free travel across the Schengen area. In addition, Golden Visa holders can travel to 180+ countries across the world.
Individuals can include their spouse and children in their application.
Individuals are only required to visit the country once a year to maintain their residence permit.
Dual citizenship is allowed and individuals don't have to renounce their original citizenship.
Individuals and their families get to enjoy a high quality life with access to social privileges like health insurance and unemployment benefits.

Malta

The Malta permanent residency by investment program is one that has grown in popularity among investors due to the straightforward application process and fast processing timeline of about 3-6 months. It is a great destination for investors looking for a second place to call home.

Qualified Investment Options

To gain permanent residence rights in Malta, investors are required to make the following investments:

Make a contribution of €98,000 to a government-approved fund.
Donate at least €2,000 to a registered Maltese NGO in Malta.
Sign a property rental agreement for at least €10,000 per year, for the next 5 years.

Application Requirements

The main applicant must be over the age of 18 years.
They should have a clean criminal record.
One must have sufficient funds to sustain themselves and their family without relying on help from the social assistance system of Malta.
Individuals are required to have enough funds to invest in any of the qualified investment options.

Benefits

A Malta Golden Visa comes with numerous benefits including:

Visa free travel across the Schengen Area whereby investors can stay in any of the EU countries for 90 days out of a 180-day period.
Inclusion of family members in the application, up to four generations.
There are no minimum stay requirements to maintain residency status.
Individuals get to enjoy the right to live, work and study in Malta.

Portugal

The Portugal Golden Visa is a top European Golden Visa program that is highly sought among investors, as it offers them a range of relatively affordable investment options to choose from. The program was established in 2012 and it underwent a major change in 2023, whereby purchase of real estate was removed as a qualifying investment options.

Qualified Investment Options

To qualify for a Portuguese Golden Visa, individuals can make any of these qualifying investments:

Invest at least €500,000 in a qualifying Portuguese venture capital or private equity fund.
Donate a minimum of €250,000 in support of the art and preserving national cultural heritage.
Make a donation of at least €500,000 to research and development activities in Portugal.
Establish a company that creates at least 10 full time jobs or invest at least €500,000 in an existing Portuguese business, which must create full time employment for 5 employees for at least 3 years.

Application Requirements

Main applicant should be over the age of 18 years.
They should have a clean criminal record.
Individuals are required to spend at least 7 days a year in Portugal to maintain residency status.
They must have health insurance.

Benefits

Here are some benefits of the Portuguese Golden Visa:

With a Portugal Golden Visa, individuals can enjoy visa free travel to 190+ countries.
Investors don't have to move to Portugal to maintain their residence permit. The only condition that they have to fulfill is to stay in the country for an average of 7 days per year.
With the new amendment passed by the Portuguese government, successful applicants can now achieve citizenship faster. That is because, the time to achieve citizenship has officially been reduced by 12-18 months, meaning that the 5-year clock starts ticking from the application stage instead of the visa issue date.
Individuals and their families get to enjoy a high quality life with access to good quality healthcare and education.
Portugal has one of lowest residence by investment options whereby an investor can gain residency by investing a minimum of €250,000 in the arts.

Invest with us today through our Alt Path hotel fund to gain access to the Portugal hotel investment industry. To schedule a meeting with our team, book your session here.

Spain

The Spain Golden Visa program was introduced in 2013 with the aim of attracting foreign capital investment in order to create more jobs. For investors who are particularly interested in investing in property, Spain is a great option.

Qualified Investment Options

To qualify for a Spanish Golden Visa, individuals are required to make any of these qualifying investments:

Invest €500,000 in residential or commercial property or a combination of both. Several investors can also invest in one property.
Invest a minimum of €2 million in Spanish treasury bonds.
Buy shares in Spanish companies worth €1 million.

Application Requirements

Applicants should have a clean criminal record.
They need to have health insurance.
Individuals should not be illegal residents of Spain.
Show proof that they have sufficient funds to sustain themselves and their families without the government's assistance.
They should not have any outstanding visa denials.

Benefits

Spain's Golden Visa program provides investors with various benefits such as:

Visa free travel to 190+ countries, including those in the Schengen area.
High quality life with access to quality healthcare and education.
Inclusion of family members, including a spouse, dependent children and dependent parents in the application.
Spain makes for a good retirement destination due to the numerous pension schemes that investors can choose from in the Spanish financial market.
Individuals are not required to live in Spain to renew their Golden Visas.

Common Investment Options for Golden Visas

The investment requirements for Golden Visas vary from country to country, but here are some common investment options.

Real Estate Investment

Purchasing residential or commercial real estate properties in a host country is one of the most popular investment options for Golden Visas. Investors may be required to meet minimum investment thresholds, depending on the requirements of the specific country.

Government Bonds or Securities

For this investment option which is also quite popular, investors can purchase government bonds or securities and hold them for a certain period to qualify for temporary or permanent residency. Government bonds are a low risk investment option, with the advantage of capital preservation.

Investment in a Business

Some Golden Visa programs allow individuals to invest in new or existing business or startup. For this option, investors may also be required to create a minimum number of jobs.

Bank Deposits

Opening an account and making a deposit into a local bank account can also qualify for a Golden Visa in some countries. For this option, investors may need to maintain a minimum balance or invest a certain amount of capital for a specified period to meet program requirements.

Investment Funds

To obtain a residency permit, individuals can also invest in government approved investment funds and hold the investment for a specified number of years.

Arts and Cultural Heritage

Being one of the most affordable investment options, this investment avenue involves donating funds to the arts and preservation of cultural heritage.

General Golden Visa Application Requirements

The application requirements for the Golden Visa vary from country to country. However, here are some common requirements that individuals are required to fulfill.

The main applicant must be over the age of 18 years.
They are required to make a qualifying investment in the host country's economy, which can include real estate, government bonds, business ventures or other eligible assets.
Applicants must have a clean criminal record.
Individuals are required to show proof of sufficient funds to support themselves and their families during their residency in the host country.
Some Golden Visa programs require applicants and their families to be in good health condition.
In some cases, applicants are required to spend a minimum number of days in the host country each year, to maintain their Golden Visa status.

Benefits of a Golden Visa Program

Golden Visas are highly sought by investors and high net worth individuals because they offer benefits such as:

Temporary or permanent residency: Depending on the specific program that you've chosen as an investor, a Golden Visa can enable you to gain temporary or permanent residency status. As such, you can lawfully live, work and study in the host country.

Enhanced mobility: Many EU Golden Visa programs enable individuals and their families to travel visa-free to multiple countries globally. This can be beneficial for individuals who often travel for business, leisure or for personal reasons.

Business opportunities: Golden Visa holders may have access to profitable business opportunities in the host country. They have the freedom to start their own businesses or make investments in different assets.

Education and healthcare: Residency often grants golden visa holders access to high-quality education and healthcare systems in the host country. This can be a great option for families looking for better education opportunities for their children and improved healthcare services.

Tax benefits: Some countries offer tax incentives for Golden Visa holders, including exemptions in wealth tax, inheritance tax and capital gains tax.

Real estate investment: Many Golden Visa programs have a real estate investment option, which can provide additional benefits such as rental income and capital appreciation.

Diverse investment options: In addition to real estate, various Golden Visa programs allow individuals to invest in different asset classes such as government bonds, stocks, businesses or job creation projects. This provides flexibility to individuals, allowing them to invest based on their preferences and investment goals.

Security and stability: Residency in an economically and politically stable country can provide individuals and their families with a sense of security. This is especially important for families who are originally from unstable regions.

Family inclusion: Golden Visa programs often allow family members to accompany the primary applicant, including spouses, children and sometimes parents. This enables families to stay together and benefit from the opportunities offered by the host country.

Opportunities for growth: Holding residency in a foreign country through a Golden Visa program can open up future opportunities for employment, education and entrepreneurship, contributing to long-term personal success.

Frequently Asked Questions (FAQs)

What is a Golden Visa?

A Golden Visa is a residency by investment program that is offered by different countries around the world, including several in Europe, where individuals can obtain residency by making a qualifying investment in the country's economy.

Which European country offers the cheapest Golden Visa option?

Latvia, with an investment option of €50,000 in a new or already existing company and €10,000 in government fees.

Are there any additional costs associated with obtaining a European Golden Visa?

Yes, there are usually additional costs such as legal fees, government processing fees, taxes and expenses related to maintaining the investment, such as property taxes or management fees. The amount paid differs from one country to the other.

How long does it take to get a European Golden Visa?

Typically, it takes anywhere between 3-18 months to get a European Golden Visa. The quickest Golden Visas to get are Latvia, which takes roughly 1-3 months, and Greece, which takes roughly 3-6 months.

Can one include their family members in the Golden Visa application?

Yes, many Golden Visa programs allow the main applicant to include their spouse, children and sometimes dependent parents in the application, providing them with residency rights as well.

Is it necessary to reside in the country to maintain a European Golden Visa?

The residency requirements vary depending on the country's regulations. While some countries like Portugal may require Golden Visa holders to spend at least 7 days a year in the country to maintain their residency status, Malta on the other hand doesn't require investors to spend a minimum number of days in the country to maintain their residency status.

Can a Golden Visa lead to citizenship in a European country?

In some cases, holding a Golden Visa may eventually lead to eligibility for citizenship in the host country after fulfilling certain residency requirements, such as a minimum period of residency. In Portugal for example, investors can gain citizenship after a 5 year residency period.

Is it advisable to seek professional assistance when applying for a European Golden Visa?

Yes, it is highly recommended to seek the assistance of legal and financial professionals who specialize in immigration and investment law to navigate the application process effectively and ensure compliance with all requirements.