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European Golden Visa: Benefits, Eligibility & Application Procedure

EU golden visa — (source: schengenvisainfo)

Europe has been a preferred destination for expats for quite some time now. People have chosen Europe as their home for various reasons, including better educational and job opportunities, higher salaries, a high standard of living, better infrastructure and governmental support.

People who wish to invest in Europe and build businesses can avail the European Golden Visa. In addition, individuals who hold these residence permits often become permanent residents of their respective countries.

Let’s delve deeper.

What Is a European Golden Visa?

Golden Visa Programs in Europe enable people to become citizens of a European country by investing large amounts of money. Countries in the Schengen area offer these visas to wealthy foreign nationals willing to invest.

What Is the Eligibility Criteria for a Golden Visa in Europe?

The eligibility criteria for a European Golden Visa are detailed below:

The applicant needs to be above 18 years and should not have any criminal record.
One must have the money that he intends to invest.
The investment money needs to be acquired legally.
The applicant must have the finances to sustain himself and his family for the entire duration of the stay.

What Are the Investment Requirements to Obtain a European Golden Visa?

Different countries might have different types of specified investments. Some countries have stated that people must invest in real estate, government bonds, shares or certain specified industries if they wish to apply for a Golden Visa.

However, countries like Switzerland, Germany, Austria and Italy demand a much more active investment from Golden Visa seekers. In these countries, investors need to generate employment opportunities to qualify for a Golden Visa.

Given below are the details of investment required in some European countries to qualify for a Golden Visa:

1. Portugal

If an individual invests in Portugal, he and his family will become eligible for permanent citizenship within five years. However, he needs to make at least one of the investments stated below:

The applicant needs to invest a minimum of € 500,000 in real estate/small or medium business or generate at least 10 employment opportunities.
He/she needs to make a minimum of € 250,000 in arts, culture or heritage in Portugal.
The applicant needs to invest a minimum of € 350,000 in science-related research.

2. Spain

Investors can invest € 500,000 in real estate to become eligible for a Golden Visa.

The other applicable conditions are detailed below:

One can invest € 2 million in Spanish public debt.
The applicant needs to invest € 1 million in Spanish company shares or bank deposits.

3. Greece

One needs to invest in real estate or make other specified investments to become eligible for a Golden Visa.

Given below are its details:

Applicants need to purchase real estate of minimum € 250,000.
One needs to invest € 400,000 in a Greek company/Greek Government bonds/bank deposits in Greece.

4. Switzerland

This country has strict rules governing the application procedure for Golden Visa. Given below are its details:

Investors need to establish a business that will create employment opportunities for Swiss nationals.
They need to pay annual tax as per applicable terms and conditions.

5. Malta

This country offers permanent citizenship in very few years if the applicant fulfils specific terms and conditions. Given below are its specifications:

If individuals invest € 600,000 in the Maltese Development Fund, they will become eligible for a Maltese passport after residing in the country for 36 months.
If investors put € 750,000 in the Maltese Development Fund, they will receive a passport of the same country after 12 months.

Applicants can check with the respective embassies for other specified investments.

How to Apply for a European Golden Visa?

The steps given below are a part of the general procedure for applying for a European Golden Visa:

Step 1: Formulate a proper investment plan.

Step 2: Ensure that you have the requisite funds for the investment in the Schengen country of your choice.

Step 3: Check whether you need an entry visa.

Step 4: After your business proposal receives approval/you make the investment, visit the embassy.

Step 5: Apply for Golden Visa and attach all the necessary documents.

Step 6: The processing of the Golden Visa application might take 3-5 months.

These are the basic steps to adhere to if one wishes to opt for a Golden Visa. However, it is advisable for the applicants to check the guidelines before applying, as the process might vary from one country to another.

What Are the Documents Required to Apply for a European Golden Visa?

Given below are the general documents required for a European Golden Visa application:

A valid passport
Passport size photographs
Proof of investment plan
Proof of applicable payments
Investment related documents
Proof of financial resources
Other specified documents

Please note that the requisite documents may vary depending on the application. So, check with the respective embassies before submitting the final application.

What Is the Cost for a European Golden Visa?

The cost of obtaining a European Golden Visa ranges from hundreds to millions. For example, in Spain you must pay an application fee of € 87,57, while in Portugal it is € 533.90 and in Greece it is € 2000.

Investors need to make specified investments in the chosen Schengen country. The investment amounts vary from one country to another.

Why Is a European Golden Visa Required?

Foreigners require a European golden visa to enjoy a number of rights involving the permission to live, work and travel within countries. It is a temporary residence visa with several exclusive benefits mentioned below.

What Are the Benefits of the European Golden Visa?

The benefits of a European Golden Visa are discussed below:

It allows its holders to become citizens of the country eventually
Additionally, their family will also become eligible to apply for permanent citizenship
This residence permit enables people to live and receive education from the Schengen countries
One can also avail the country’s healthcare system
Another important advantage is visa-free travel across the countries in the Schengen area

What Is the Validity Period of the European Golden Visa?

The validity period depends on the respective countries. Generally, a Golden Visa is valid for 1-2 years. However, it can be renewed as well.

This piece provided the crucial details related to the European Golden Visa. Investors can make specified investments in a European country and become eligible for residency. The investment and application-related details vary from one Schengen country to another. So, applicants should check the details from the websites of the respective countries before finally applying.

Frequently Asked Questions

✓ Can I borrow a loan to make a specified investment and qualify for a European Golden Visa?

No. The investor must provide evidence that the invested amount is in his or her name. But certain countries allow mortgages for the purchase of properties.

✓ Which is the best European country for a Golden Visa?

Many people consider Portugal to be the best country for a Golden Visa. Some of the other top countries are Spain, Greece, Switzerland and Malta.

✓ Which family members can be included under a European Golden Visa?

The European Golden Visa generally includes the applicant’s spouse, dependent children and dependent parents.

Normal Visa	Urgent Visa	Super Urgent Visa
₹ 5,500 approximately (1 applicant)	Additional ₹ 6,300 approximately	Additional ₹ 7,900 approximately
₹ 5,300 approximately (2 applicants)
₹ 5,200 approximately (3-5 applicants)
₹ 4,500 approximately (6-9 applicants)
₹ 4,400 approximately (10+ applicants)

What Is the Government Fee for an Indian Visa?

Apart from the service fees, applicants also need to pay e-visa government fees. However, the Indian visa charges of the government are different from one country to another. For example, while for some it is exempted, some has to pay ₹ 2,000, ₹ 4,000 or ₹ 6,000 approximately. Know about which category you fall into under the following subheadings.

What Are the Different Government Fee Categories for Different Countries?

Fee Exemption

While paying the Indian visa fees, applicants from the following nationalities are not required to pay any government fees. Instead, they can only pay the processing and service fees.

Cook Islands	Mauritius	South Africa
Argentina	Marshall Islands	Tuvalu
Palau	Fiji	Papua New Guinea
Nauru	Samoa	Vanuatu
Micronesia	Seychelles	Kiribati
Niue Island	Jamaica	Uruguay
Solomon Islands

Government Fee of ₹ 2,000

The government of India charges government e-visa fees of $25 from people of the following nationalities.

Singapore	Sri Lanka
Japan

Government Fee of ₹ 4,000

The government might charge Indian e-visa fees of $50 from people applying from the following countries.

Albania	Cape Verde	Gabon
Latvia	Lesotho	Liberia
Norway	Oman	Swaziland
Palestine	Switzerland	Sweden
Liechtenstein	Panama	Taiwan
Cayman Island	Chile	Gambia
Angola	Andorra	Georgia
Anguilla	China	Germany
Antigua & Barbuda	Colombia	Ghana
Lithuania	China-Macau	Tajikistan
Paraguay	Peru	Tanzania
Armenia	Luxembourg	Greece
Austria	Poland	Guatemala
Costa Rica	Guinea	Croatia
Malawi	Turks And Caicos	Trinidad And Tobago
Azerbaijan	Malaysia	Portugal
Romania	Cuba	Macedonia
Malta	Uganda	United Arab Emirates
Bahamas	Guyana	Mali
Bolivia	Saint Vincent and the Grenadines	Iceland
Djibouti	Vietnam	Czech Republic
Monaco	Honduras	Belgium
Mexico	Denmark	Uzbekistan
Rwanda	Hungary	Moldova
Belize	Saint Lucia	Dominican Republic
Venezuela	Ireland	Senegal
Botswana	Zimbabwe	Dominica
Montenegro	Indonesia	San Marino
Bosnia & Herzegovina	Mongolia	Israel
Zambia	Brazil	Ecuador
East Timor	Italy	El Salvador
Brunei	Cote D'Ivoire	Eritrea
Bulgaria	Jordan	Estonia
Burundi	Kenya	Cambodia
Finland	Republic of Korea	Canada
Cameroon	Myanmar	Serbia
Montserrat	France	Netherlands
Namibia	Sierra Leone	Slovakia
New Zealand	Slovenia	Nicaragua
Saint Kitts and Nevis	Spain	New Zealand
Niger Republic	Nicaragua	Suriname

Government Fee of ₹ 6,000

The government of India charges an Indian visa application fee of $75 from the applicants of the following nationalities.

Russian	UK
Ukraine	Mozambique
USA

Individuals must have proper knowledge of fee payment for an Indian visa since they must pay this amount while applying for an Indian visa. The fees they pay with the application form include both the visa service fee and the Indian Government fee. The service fee that you pay is for processing your application. On the other hand, the e-visa government fee is for the Indian Immigration Department.

Thus, as this article observed, there are different fees for an Indian visa. If you are an applicant trying to obtain an Indian visa for work or other purposes, you need to know these different fees ranges. The government can reject your visa application if you fail to submit the applicable fees.

Frequently Asked Questions

✓ How long does it take for the Indian government to process regular visas?

Unlike e-visas, a regular visa takes a longer processing time. Usually, it takes about 2-3 weeks. However, the government can process a regular tourist visa faster in about a week.

✓ How long can I stay in India on a visa?

Indian business and tourist e-visas are usually valid for about a year. After that, however, the owners of the visas can apply for an extension. The immigration experts approve the extension request only if they can show proper evidence proving their reasons to stay.

✓ Can a traveller check their status of ESTA?

Yes, a citizen can check their status of ESTA on the official portal of CBP or U.S. Customs and Border Protection.

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Detailed Guide about L2 visa

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Types of Schengen Visa?

What are the types of UK Visa?

How to Verify a Visa Online? (VEVO)

What is UAE Golden Visa?

Visa Requirements for Indian Citizens

All about Qatar Visa

Visa Waiver Program

Indian Visa Fees and Charges

How to apply for Spain Golden Visa?

Golden Visa Application Process

How to get the German Golden Visa?

Everything about European Golden Visa

Portugal Golden Visa & It's Benifits

Greece Golden Visa program

How to apply for Malta Golden Visa?

Disclaimer -

Your policy is subjected to terms and conditions mentioned in your policy schedule and policy wording. Please go through the documents carefully.

The information mentioned here about the countries, visa fees and others is taken from different sources. Digit Insurance is not promoting or recommending anything here. Please verify the same before you book your tickets, apply for a visa, buy a travel policy or make any other decision.

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