Maybe you have also asked the question, what is the golden visa or the golden visa. Different countries offer different immigration programs for foreign investors in order to attract capital. These programs generally include citizenship by investment or Golden Passport (CBI), residency by investment or Golden Visa (RBI), or a combination of immediate residency and accelerated citizenship. Host countries offer different options for investment, which can range from 250 thousand to several million euros. In this article, we have pointed out the difference between a golden passport and a golden visa, and while stating the advantages and disadvantages of these two immigration programs, we have introduced one of the best golden visa programs, namely the Greek Golden Visa.
What is the difference between golden passport and golden visa?
The main difference between a passport and a golden visa is that the golden passport is awarded to the applicant within a few months and without the need to pass the residency period, if the applicant is eligible; If the golden visa law only allows investors to stay. Residency by investment programs usually include requirements for continuous presence on the host country’s soil. Another difference between the passport and the golden visa is that in the golden passport programs, the applicant is allowed to add his family members to the immigration program, but in the golden visa, the number of these people can be more limited.
What is a golden passport?
As we stated in response to the question “What is the difference between a passport and a golden visa”, Citizenship by Investment (CBI) programs give applicants the opportunity to acquire citizenship by investing in a country. Some of the countries offering Golden Passport:
Antigua and Barbuda
, Austria ,
Dominica, Grenada
,
Jordan ,
Moldova ,
Malta
, North Macedonia
, St. Kitts and
Nevis, Vanuatu ,
Turkey
What are the conditions for receiving a golden passport?
The conditions of citizenship programs through investment can be different according to your chosen country; But in general, we can mention the following:
Over 18 years of age
Sufficient capital for investment that has been acquired legally (investment amount varies from country to country)
No criminal record
No dangerous diseases (including infectious diseases)
What are the benefits of the Golden Passport?
If your request to receive a golden passport is approved, you and your family members will be recognized as citizens of the country of your choice and you will receive the passport of that country. After receiving the golden passport, you will have access to privileges such as residence permit, free education and health services. Other benefits of the Golden Passport include the following:
More Travel
Having a second passport can allow you to travel visa-free to countries that you were previously unable to travel to with your first passport. Golden passports, through the citizenship of the European Union, make it possible for you to easily access the member states of the European Union and the Schengen area.
Safety valve
Political situations, national emergencies and global pandemics can become worrying situations, but a Golden Passport eliminates these worries because you can always count on your second country for help.
Property protection
Having a second passport can protect your property in cases where you are not sure about the political and economic conditions of your first country. For example, when your first country has a low rank in the corruption perception index published by Transparency International, you can transfer your assets to your second country.
Special tax advantages
In most of the countries offering the golden passport, investors enjoy special advantages such as discounts and tax reductions.
What are the disadvantages and possible risks of the golden passport?
In addition to their advantages, immigration programs may also have disadvantages and risks that you should research before finalizing your decision:
High cost
Depending on the country and the type of investment you choose, you may need to spend hundreds of thousands or even millions of euros; You may also need to pay additional fees for legal advice, application processing, taxes, and more. So, this method of immigration is only for volunteers who have sufficient financial resources.
Being under the microscope,
receiving a Golden Passport exposes you to the scrutiny of authorities, the media, or the general public. In some countries, the holders of this passport are accused of tax evasion and money laundering. You may also be considered an opportunist by your fellow countrymen.
Adapting to a new environment and culture
After receiving a golden passport, you may need to file your tax return and income statement, and you may have to pay double taxes. You may also need to follow rules and customs that conflict with your values or interests.
What is a golden visa?
Residency by Investment (RBI) programs allow applicants to live and in some cases work in a country after investing in it.
What is the difference between a travel visa and a golden visa?
Above, we discussed the difference between a passport and a golden visa, but you might be wondering what is the difference between a travel visa and a golden visa? It should be said that Golden Visa programs are designed to encourage investors and require investment, so they are not issued to travelers who intend to enter the host country for purposes such as work, study, or visiting their families. Also, these visas have a longer validity period compared to normal visas. Some of the countries offering Golden Visa:
Greece
, Cyprus
, Portugal
, Spain,
what is the goal of the host countries in giving golden visas?
As the recipients of this visa have the privileges that we will mention below, the granting of this visa for the host country also has benefits such as the entry of foreign capital that can be used to strengthen start-up businesses, implement construction projects, and other things. did
What are the conditions for receiving a golden visa?
These conditions can be different according to the country you choose to immigrate to, but in general we can mention the following:
Over 18 years of age,
sufficient capital for investment,
lack of bad history,
ability to support yourself and your family during your stay in the host country,
health insurance,
what are the benefits of a golden visa?
Above, we discussed “what is the goal of the host countries in providing the golden visa”, as we said, receiving a golden visa can be beneficial for both the host country and its recipients. But what are these benefits for golden visa recipients?
Traveling to more destinations without the need for a visa
Golden Visa countries usually provide the holders of this type of visa with the possibility of traveling to a number of other countries without the need for a visa or an airport visa.
The right of residence
of golden visa holders with investment provides the right to live and work in a safe environment for themselves and their families.
Access to services
Golden visa holders can access services like medical, educational and social services like citizens of the host country.
The special tax benefits
of investment residency programs usually include special tax benefits, including discounts and exemptions.
Obtaining citizenship
Golden visa programs can speed up the process of obtaining citizenship and bring you the opportunity to obtain citizenship.
What are the possible disadvantages and risks of the golden visa?
As we mentioned, golden visa programs have many advantages, but like any other immigration program, golden visa can also have disadvantages; Including:
Investment risk
Golden visa programs usually require initial capital, the amount of which is different from country to country, and there is always a possibility that the investment will not go as expected or even the capital will be lost.
Completing the immigration program or making changes in those
countries sometimes cancel or change their golden visa program with prior warning. This situation can cause adverse economic consequences for the host country and cause confusion for investors.
Residency requirements
Many golden visa programs have special residency requirements such as the need to be continuously present in the host country. Obviously, if the investor cannot meet these conditions, he may lose his residence permit and capital.
Tax Consequences
Investors should be aware of the tax consequences of investing in a foreign country. Some countries may have a complex tax system and the investor may be subject to double taxation.
Political Instability
Changes in government policies or political instability can affect an investor’s ability to maintain their residency status or receive a return on their investment.
Fraud
Unfortunately, applicants who do not do enough research before investing, fall into the trap of fraudulent and profit-seeking companies and lose their capital. It’s best to do your research before investing in any program. If your choice is Greece, Stargate Group, with more than 13 years of experience, can be by your side in choosing the best immigration program. You can complete the Greek visa eligibility evaluation form to speed up the visa process.
Greece Golden Visa Program
The Greece Golden Visa Program is a residence by investment program launched in 2013 that enables citizens of non-EU countries to obtain a permanent residence permit in Greece. This European golden visa must be renewed every five years. The process of buying property in Greece is much easier than in other European countries, and the affordable cost of living in Greece has made this country one of the best options for immigrants.
What are the conditions for applying for a golden visa in Greece?
Citizenship of a country other than the member states of the European Union (EU) or the European Economic Area (EEA).
Over 18 years of age
Investment in Greece worth at least 250 thousand euros.
Having no criminal record
having a valid health insurance in Greece.
What are the types of investment in Greece to get a golden visa?
There are different types of investments through which you can get a Greek Golden Visa. These investments can be made through buying and renting property or transferring capital and buying stocks and bonds.
1- Types of investment in real estate:
If you have chosen Greece for investment, it is good to know the types of investment in Greek real estate to receive a golden visa:
Buying a property worth at least 250,000 euros in Greece, except in Athens, Thessaloniki, Mykonos and Santorini.
Buying a property worth at least 500,000 euros in Greece in the cities of Athens, Thessaloniki, Mykonos and Santorini. Unlike other cities in Greece, if you invest in these cities, the entire amount should be spent on buying only one property.
Signing a 10-year lease contract to stay in hotels or furnished tourist accommodations. The rent for 10 years, which is at least 250,000 euros, must be paid in one step.
If you have doubts about choosing the right city to live and invest in Greece, you can visit the list of the best Greek cities to live in 2023 or contact us for a free consultation.
2- Other types of investment:
If you have decided to invest in Greece, considering the benefits of receiving a golden visa, but do not intend to invest in real estate, you can use the following investment options with a capital of at least 400,000 euros:
Fund transfer to a bank account in Greece.
Buying Greek government bonds.
Buying shares and bonds of real estate investment companies in Greece.
Buying shares and bonds of venture funds and private equity whose headquarters are in Greece.
What are the advantages of choosing Greece to receive a golden visa?
Obtaining a residence permit in Greece,
the least amount of capital required compared to the golden visa of other European Union countries,
unlimited travel to 27 Schengen countries,
no need to be constantly present in Greece,
the possibility of registering online,
the possibility of registering as a family,
the possibility of obtaining a Greek passport After seven years
of tax deductions and the application of special tax benefits for investors,
access to health insurance,
access to educational services,
the last word
As we stated in response to the question of what is a golden visa, this program is a type of residence permit that is awarded to an investor in exchange for investing a significant amount in the economy of the host country. Greece has been a member of the European Union since 1981, a member of the Schengen Agreement since 2000, and a member of the Eurozone since 2001. The Greek Golden Visa is one of the cheapest ways to stay in the EU countries. Investors can stay in Greece for five years and travel to other European Union countries by receiving a golden Schengen visa. Also, golden residence holders do not need to be in Greece to renew their visa and can renew their visa online.
The number of applicants for the Greek Golden Visa scheme, which has been running since 2013, increases every year; So that last year, Iranians won the sixth place among the golden visa applicants of Greece. You can also benefit from a five-year residence permit in Greece by investing at least 250,000 euros. Stargate immigration consulting company is by your side to choose the best immigration program in this direction.