However, even with many Golden Visa countries to choose from, many aspirants often don't know the best approach for achieving their goal. As a foreign investor seeking residency by investment or citizenship by investment, it is important for you to understand the various investment programs, their requirements and their benefits.
The contents of this article are for educational purposes only. They are not intended to be a source of professional financial advice. You will find experts on investing here.
Global citizenship means that someone belongs to more than one country, often across different parts of the world. It's not just about living in different places; it's about the rights and responsibilities of that person to their origin and host countries.
As an upstanding global citizen, the individual understands that their actions affect people both locally and internationally, and they are committed to making a positive difference throughout their lives wherever they are.
The concept of global citizenship is supported by the United Nations and is integrated into initiatives such as the Sustainable Development Goals, particularly emphasizing education and lifelong learning. Universities play a crucial role in fostering global citizenship among students, empowering them to contribute positively to the world. Additionally, businesses and investments are key elements of the global citizenship framework.
Here are some benefits that individuals seeking global citizenship by investment should look out for:
Global citizenship opens up a world of learning opportunities. You can immerse yourself or your children in top-notch academic programs across different parts of the globe and gain insights into a wide array of cultures.
Global citizens impact both local and wider economies. As a global citizen, you can do business in a way that not only helps local economies but also makes a positive impact on a larger scale. It's all about fostering innovation and sustainable growth.
Community is at the heart of global citizenship. Whether it's getting involved in local initiatives or making a difference on a global scale, you have the chance to connect with people from all walks of life and leave a lasting impact.
Global citizens get to see the world from different perspectives. The ability to travel to many parts of the world gives global citizens the opportunity to embrace diverse cultures and a whole new way of thinking and experiencing life.
Global citizenship brings a wealth of knowledge and skills. From learning about different cultures to mastering essential life skills, you're constantly growing and evolving in today's interconnected world.
Global citizens can make a difference wherever they are. Whether it's in their adopted home or their country of origin, their actions can help shape a brighter future for present and future generations.
Bay Street Capital Holdings is a wealth and asset management firm, and the company is currently running boutique hotels projects in popular tourist cities in Portugal and the Bahamas.
The company has approval for a number of hotel projects in Portugal which are government-subsidized. These boutique hotels are anticipated to yield favorable returns, with an estimated IRR of approximately 18.87% over a span of three years.
For international investors, participating in these ventures grants you ownership stakes in prestigious hotel properties situated in prime locations. Alongside these projects, investors can apply for a Portugal Golden Visa, which offers an array of supplementary benefits, including the potential acquisition of a Golden Passport.
To qualify for the Portugal Golden Visa, individuals are required to make capital transfer investments amounting to €500,000 (approximately $545,000) into an accredited fund.
Here are some of advantages of the Portugal Golden Visa:
Smooth Travel: With a Portugal Golden Visa, you gain unrestricted access to Europe's Schengen Area, making travel and exploration stress-free for business travelers.
Comprehensive Residency: This visa grants you the right to live, work, and study in Portugal, and cater to your personal growth ambitions.
Path to Citizenship: After five years, you become eligible to apply for citizenship, which allows you to establish roots in Portugal while maintaining your global identity.
Flexible Requirements: This visa involves minimal physical presence obligations and enables you to maintain a balanced lifestyle while pursuing various opportunities.
Academic Opportunities: A Portugal Golden Visa gives you access to top-notch education, ranging from esteemed international institutions to vibrant local academia.
Cultural Richness and Safety: You also get to immerse yourself in Portugal's rich history and diverse culture, which is complemented by a mild climate and a reassuring level of security.
Superior Quality of Life: Living and working in Portugal enables you to enjoy a high standard of living, including delicious cuisine, exquisite wines and natural wonders.
Comprehensive Healthcare: Residing in Portugal gives you access to world-class healthcare services, and ensures your well-being in every aspect of life.
Bay Street Capital Holdings, in addition to its role as an asset management firm, provides a range of services including general investment and wealth management, along with guidance on eligible pathways for a Portugal Golden Visa.
Saudi Arabia and the United Arab Emirates are a few among Arab nations that offer golden visas or similar residency permits.
The Saudi Arabia Golden Visa program, initiated in May 2023, is available to individuals over 21 who can prove good health, financial stability, and a clean criminal record. However, the program requires substantial investments, with options for permanent residency costing $213,000 or a renewable one-year permit priced at $26,700.
Notably, the program introduces significant freedoms for visa holders, including the ability to purchase property, establish businesses without Saudi sponsors, change jobs without sponsor approval, exit the country without permission, and sponsor family member visas, marking a departure from previous restrictive visa policies.
To qualify for Premium Residency in Saudi Arabia, applicants need to meet certain requirements, which might differ based on the chosen Premium Residency option. However, there are general eligibility standards applicable to all applicants, regardless of the residency product. These include:
Valid passports: The primary applicant and any included family members must possess passports valid for at least six months from the application date, without any restrictions preventing return to Saudi Arabia.
Financial stability: The primary applicant must demonstrate financial solvency, proving the ability to support themselves and their family members in Saudi Arabia through bank statements and other financial documentation.
Clean criminal record: Everyone applying and their family members must have a clean criminal record. Additionally, the main applicant must agree to background checks carried out by the Saudi Premium Residency Center.
Health requirements: Applicants and their family members must be free from communicable diseases, verified by a recent medical report issued within the last six months from a licensed medical center in Saudi Arabia or a certified center by Saudi diplomatic missions abroad.
Legal residency: If applying from within Saudi Arabia, the primary applicant must provide evidence of legal residency in the country.
Family residency: Premium residency lets immediate family reside in Saudi Arabia without fees. They can work, invest, and change jobs freely. Non-qualifying family members can visit with a family visa.
Ownership privileges: Saudi Green Card holders can own property nationwide, excluding Mecca, Madina, and borders. In Mecca and Madina, they can lease property for 99 years. They also have vehicle ownership rights.
Business opportunities: Card holders can invest in the Saudi Capital Market, work without sponsorship, and switch jobs easily. They can also open a fully foreign-owned business with a SAIGA (Saudi Arabia General Investment Authority) license.
Travel flexibility: Premium residency allows unrestricted entry and exit from Saudi Arabia, with dedicated airport lanes for residents.
Additional benefits: Cardholders can hire foreign domestic workers and retain benefits for family members in case of passing.
The UAE Golden Visa program, launched in 2019, offers foreign nationals the opportunity to reside, study, and work in the country for extended periods, ranging from five to ten years, upon investment of AED 2 million ($545,000) or more.
This initiative aims to attract investors, entrepreneurs, scientists, skilled professionals, and individuals with remarkable talents. The program has experienced significant growth, with Dubai alone witnessing a 52% increase in golden visa issuance in the first half of 2023.
Capital Investments: Individuals can apply for a 10-year visa by investing at least AED 10 million in a public investment fund or company.
Business partnership: business partners, each contributing AED 10 million, are eligible for a 10-year visa extension from the government.
Alternative Investments: Alternatively, individuals with a minimum of AED 5 million investment can apply for a 5-year visa. Investors must maintain the invested amount for three years and refrain from loaning it.
Asset Ownership: Asset ownership must be complete, with no less than 60% of the fund allocated outside the real estate sector.
Visa Expansion: The long-term UAE golden visa also covers the primary applicant's spouse, children, one chief executive director, and an advisor.
Residency in the UAE: Investors and their families have the option to relocate to the UAE, one of the world's wealthiest and most developed nations, with the freedom to visit at any time. Residing in the UAE is not mandatory; holders of residency visas can maintain their status with two annual visits.
Tax advantages: UAE residents enjoy tax exemptions on income, capital gains, inheritance, gifts, and properties. Corporate profits are also untaxed, with a planned corporate tax rate of 9% from 2023, applicable only to companies generating profits exceeding AED 375,000.
Banking facilities: Residents with a UAE residency permit can open bank accounts in various currencies, facilitating savings and international transactions.
Driver's license: Residents must obtain a UAE driver's license to drive in the country. While an exam is typically required, citizens of certain countries may exchange their existing licenses without additional testing.
Healthcare: UAE residency visa holders can access the country's healthcare services, renowned globally for specialties like dentistry, orthopedics, dermatology, and reproductive health.
Education: Investor's children have the opportunity to enroll in UAE schools and universities, many of which offer English-language higher education programs.
Simplified Visa Process: Obtaining a Golden Visa in the UAE is streamlined compared to other visa types, and it eliminates the need for sponsorship or employment. Moreover, visa holders are granted a 6-month entry visa and aren't required to stay in the country for extended periods to maintain their status.
Family Visas: Main applicants can sponsor their spouses and children for long-term visas, while parents may be granted a one-year visa.
Esaad Privilege Card: Participants in Dubai's Esaad program (which offers a multipurpose identification card) enjoy exclusive discounts and offers of up to 70% at various establishments within the UAE and abroad.
Path to Citizenship: Foreigners may apply for UAE citizenship through naturalization after residing in the country for 30 years. Alternatively, citizenship may be granted for exceptional services.
Global Mobility: Holding a UAE passport grants visa-free access to 176 countries, including Schengen states, the UK, and Canada.
Similar measures have not been introduced by other Gulf states, for example, Qatari Emir Tamim bin Hamad al-Thani issued a decree offering five-year residency to investors. Previously, the Emir had authorized 100 expatriates annually to obtain permanent residency, which entitles them to commercial rights.
Jordan introduced its Citizenship by Investment (CBI) scheme in 2018, while Qatar launched a program in 2020 offering extended temporary residency for real estate ownership.
Additionally, in June 2018, Bahrain announced its plan to implement a self-sponsorship visa scheme, granting 10-year residency. Furthermore, the country has maintained a "golden visa residency" initiative since 2022 and recently introduced a "golden license" program aimed at large-scale investments.
In early March 2023, Egypt simplified the process for foreigners to obtain Egyptian citizenship through investment. While Egypt has had a Citizenship by Investment (CBI) program since 2020, the terms were relaxed due to economic challenges and the pressing need for increased international investment and foreign currency influx.
The inception of citizenship by investment (CBI) originated with Saint Kitts & Nevis in 1984, making it a pioneer in CBI programs worldwide. Other Caribbean island nations such as Grenada, St Lucia, Dominica, and Antigua and Barbuda followed suit. They recognized its economic potential, understanding the significant boost such initiatives could provide to their economies.
The Dominica Citizenship by Investment Program offers individuals the opportunity to gain citizenship by making a financial contribution. For single applicants, citizenship can be obtained starting from $100,000 through a donation to the country's Economic Diversification Fund.
To qualify for the program, applicants must commit at least $100,000 as a government donation or invest $200,000 in a real estate project. Once they successfully complete their application, investors and their families are given lifelong citizenship in Dominica.
All applicants must:
The Dominica Golden Visa program is:
The most affordable way to obtain Saint Kitts Citizenship is by donating to the Sustainable Island State Contribution Fund (SISC). The current minimum investment for one applicant is $250,000, $300,000 for one applicant and their spouse, or $350,000 for a couple with two children.
Alternatively, applicants can obtain citizenship in Saint Kitts and Nevis by investing in government-approved real estate developments, such as hotel resorts and tourist properties, with a minimum investment of $400,000.
All applicants must:
Upon successfully obtaining their Saint Kitts and Nevis Certificate of Registration, investors can enjoy the full benefits of Saint Kitts and Nevis Citizenship, including:
The Saint Kitts Citizenship by Investment program does not require applicants to meet any minimum stay requirements. Citizens of the country have the option to live, work, or study in Saint Kitts and Nevis if they wish, but this is not a requirement of the program.
While these countries boast well-established infrastructure and high living standards, the primary attraction of their CBI (Citizenship by Investment) programs remains the visa-free access to the Schengen Area, with Grenada additionally offering eligibility for E-2 investor visas in the U.S.
Despite their ongoing operation, these programs are encountering mounting pressures from the U.S. and EU to enhance due diligence, increase investment thresholds, and cooperate with law enforcement to combat individuals deemed as threats or security risks to the EU.
Notably, the United Kingdom has already suspended its visa-free agreement with Dominica due to security concerns. Despite the uncertainties surrounding Caribbean citizenship by investment programs, the global RCBI (Residency and Citizenship by Investment) industry continues to experience unprecedented success, with projections indicating sustained growth in the foreseeable future.
EU nations that offer Golden Visas include Cyprus, Greece, Malta, Portugal, and Spain.
Cyprus, with its strategic location, tax advantages, and streamlined residency processes, attracts investors and families. To qualify for its golden visa, investors must commit €300,000 to property or funds and maintain a yearly income of at least €50,000 from foreign earnings.
Greece Golden Visa offers residency with a minimum investment of €250,000, allowing investors to reside in Greece while enjoying visa-free travel across 26 Schengen nations; permanent residency is possible after 7 years.
Malta permanent residence program grants citizenship through naturalization, necessitating a €600,000 investment into the National Development and Social Fund, though investments in property and donations to approved organizations are also viable paths to eligibility, granting access to visa-free travel to over 180 countries.
Portugal's golden visa program, initiated in 2012, provides avenues such as donations, venture capital, or job creation for investors, with a minimum donation of €250,000 to arts or a minimum investment of €500,000 to non-real estate funds, allowing for residency and citizenship acquisition within 5 years.
The Spanish golden visa program requires a minimum investment of €500,000 in real estate, €1 million in business development, or €1 million in Spanish treasury bonds, providing investors and their families access to the country's education and healthcare systems alongside residency opportunities.
Investment Thresholds: Minimum investment requirements vary among EU nations, ranging from €250,000 to €1 million, depending on the country and investment option chosen.
Income Criteria: Some programs, like Cyprus, may require a minimum yearly income from foreign earnings to qualify for the visa.
Investment Options: Investors can choose from various investment options, including real estate, government bonds, business development, donations, or job creation, depending on the country's program.
Residency Periods: Residency periods typically range from 5 to 10 years, after which investors may apply for permanent residency or citizenship.
Flexibility in Residency: European Golden Visa programs offer flexibility with no minimum stay requirements, catering to investors who may not be able to spend extended periods in the country.
Tax Advantages: Investors may enjoy tax benefits on their international income, depending on their country of residence, allowing for business activities outside of the visa-issuing country.
Diverse Investment Options: Programs like Malta's Citizenship by Investment allow investors to choose from various affordable investment options, including donations to registered organizations, enhancing accessibility for a broader investor base.
Access to Quality Healthcare: Residency through Golden Visa programs grants access to European Union countries with top-tier healthcare systems, such as Portugal, providing comprehensive healthcare funded by insurance and taxation.
Family Inclusion and Cohesion: Golden Visa programs prioritize family inclusion, facilitating travel and relocation together, as seen in Portugal's extension of benefits to spouses, dependent children, and parents.
Global Mobility: European Golden Visas enable extensive travel privileges, with Portuguese residence permit holders gaining access to 27 EU nations and eventual citizenship granting visa-free travel to 188 countries.
Educational Opportunities: Residency through Golden Visa programs provides access to high-quality education systems, as seen in Portugal, enhancing the appeal for families relocating to the country.
Path to Citizenship: Investors can pursue a path to citizenship after obtaining residency, exemplified by Portugal's pathway to dual citizenship after five years of residency.
Schengen Zone Access: Residency permits under the programs allow Golden Visa holders to travel within the Schengen Zone without additional visas, streamlining international mobility for investors.
Extended Residence Benefits: Spain's Golden Visa program extends residency benefits to investors' family members, enabling them to live, study, and work in Spain, attracting investors seeking retirement options with access to diverse pension schemes in the Spanish financial market.Explore this article to learn more about European Golden Visas.
The United States and Canada are sought-after destinations for immigrants, and both countries offer golden visas to eligible investors through various channels.
The United States offers 2 Golden Visa pathways which are the EB-5 investment and the E-2 investment schemes.
The E2 visa is a non-immigrant visa intended for investors, entrepreneurs, and those interested in operating a business in the United States. With an E2 visa, individuals can establish or invest in a U.S. business and work for that enterprise.
To qualify for E-2 classification, the treaty investor must:
Investment refers to the treaty investor placing capital, including funds and/or other assets, at risk in a commercial sense with the aim of generating profit.
The EB-5 (employment-based, 5th preference) investor visa grants permanent resident status to investors who meet specific criteria. This visa also extends to the applicant’s spouse and unmarried children under the age of 21.
Introduced in 1990 to stimulate the economy by creating jobs and attracting foreign capital, the EB-5 visa is administered by the Immigr
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