What Is a Golden Visa? - Eligibility & Application Process Explained

Golden visas are quite popular among wealthy Indians. It offers a long term residency to a certain group of people who want to settle in a foreign country.

Are you wondering 'what is a golden visa?' If yes, keep reading this blog to learn more about it and other related details.

A golden visa is an immigration programme that enables wealthy individuals to acquire a residence permit or citizenship status in a foreign country in exchange for a large investment or purchasing a house over there.

This immigration programme allows high-net-worth individuals to relocate to a suitable country presently or after retirement or become residents of that country. After being a resident of a host country, individuals can enjoy the legal right to live, work, study and access healthcare facilities of that country.

If you are keen to apply for a golden visa, you must fulfil the following eligibility parameters:

• You should personally have the money that you want to invest in a foreign country that offers a golden visa.
• You need to prove that you have earned this money through legal means.
• If you have any criminal background, you will not qualify to apply for a golden visa.
• You need to maintain the investment for a minimum period as set by the Government of the host country.
• You need to furnish evidence to show that you are financially stable to take care of your family members, even if you do not wish to stay in the host country for a long time.

Note that this list is indicative, and eligibility parameters may change with each country.

Listed below are the following ways through which you can apply for a golden visa:

• You must buy a property in a foreign country where you wish to get citizenship status through a golden visa. The price of real estate may range from ₹ 15,664,767 to ₹ 156,634,990. This is the most common process provided by most countries to apply for a golden visa.
• Invest in a company's stocks or shares.
• Invest in government bonds or public debt instruments of that foreign country.
• Generate employment opportunities in that foreign country.
• Invest in innovative scientific or technological projects of the foreign country.

After investing in either of the ways mentioned above, apply for a golden visa at an embassy in your country or a governmental authority located in the foreign country where you want to get the citizenship status.

Listed below are the countries that provide golden visas:

• Antigua and Barbuda
• Canada
• Austria
• Anguilla
• Germany
• Grenada
• Greece
• Malta
• Ireland
• Portugal
• New Zealand
• Singapore
• St. Kitts and Nevis
• Spain
• St. Lucia
• The Cayman Islands
• Switzerland
• Turkey
• The United Kingdom
• United Arab Emirates
• Vanuatu
• United States of America

Yes. A golden visa allows you to get a citizenship status in the foreign country for which you have applied for the same, provided you must live in that country for some years in advance. If you take the example of Spain, you are required to spend a minimum of 10 years in this country consistently and should have proficiency in the Spanish language to get a permanent citizenship status in Spain. However, the criteria may differ with each country offering a golden visa.

Yes, your dependent family members can apply for a golden visa along with you. Family members include your dependent children, spouse and dependent parents. Every family member that applies for a golden visa can enjoy similar legal rights as you in the host country.

No, there is no requirement to live in a property you bought in a foreign country for a golden visa. You can renew your golden visa for indefinite times as long as you maintain your investment, that is, not selling your housing property. Some countries like Cyprus and Greece can also allow you to rent your property while you are not residing there.

With this, this piece about 'what is a golden visa' comes to an end. To conclude, a golden visa allows you to access a favourable lifestyle and other high-quality facilities in a foreign country that issues this permit. So, if you are interested in applying for the same, go through all the pointers mentioned above to avoid hassles during your application.