What Is a Golden Visa?
Residency and citizenship by investment programmes (RBIs and CBIs) are commonly known as golden visas, sometimes called investor visas, and are generally aimed at high-net-worth individuals. They are a way for governments to attract foreign investment. In its most basic form, a golden visa lets you gain residency or citizenship in a country in exchange for an investment in its economy.
What Are the Benefits?
Every scheme has its own benefits, but the common appeal is a "Plan B": access to another, often stronger, economy. European programmes are popular because they allow freedom of movement across the Schengen Area and can lead to EU citizenship and a passport, and, depending on the country, visa-free travel to well over 100 countries. Other benefits typically include:
- High quality of life
- Access to leading healthcare and education systems
- The right to live, work and study in the country
Some countries also offer favourable tax regimes to attract new residents. Portugal, for example, historically offered NHR status; its successor, the IFICI regime, offers qualifying professionals a 20% income-tax rate.
What Are the Requirements?
Requirements differ by country, but typically include a clean criminal record, proof of funds, and holding the investment for a set period. Some programmes require a minimum number of days in the country, a health check, or a certain net worth. Common investment options include investment funds, capital transfers, job creation, and donations to areas such as scientific research or cultural heritage. (Note: many programmes that once allowed real estate, including Portugal, have since removed it.)
Which Countries Offer a Golden Visa?
The St Kitts and Nevis programme, launched in 1984, is the oldest of its kind. Since then, countries worldwide have launched similar programmes. There is no one-size-fits-all option, each scheme is different.
Portugal
The Portugal Golden Visa is one of the world's most successful residency-by-investment programmes, launched in 2012. It grants a renewable two-year residence permit. After five years you can apply for permanent residency, with a route to Portuguese citizenship thereafter, seven years for EU/CPLP nationals and ten years for other nationalities under the 2026 Nationality Law. Qualifying routes now centre on regulated investment funds (€500,000) and a cultural donation (€250,000); real estate no longer qualifies. Benefits include a favourable tax landscape, access to healthcare and education, and the right to live and work in Portugal, with a very low stay requirement.
Greece
The Greek Golden Visa, launched in 2013, grants long-term residency through routes including property investment (with minimum thresholds that have risen in recent years, and which vary by region) and financial investments such as government bonds or bank deposits. It offers Schengen access and, after a qualifying residence period, a route to citizenship.
USA
The EB-5 Immigrant Investor Program grants a green card in exchange for a qualifying investment (currently a minimum of USD 800,000 in a targeted employment area, or USD 1,050,000 otherwise) that creates at least 10 jobs. Holders can live, work and study anywhere in the US, bring their family, and pursue citizenship after a qualifying period.
How to Get a Golden Visa
The first step is deciding what type of investment to make; the second is the application process, which varies by scheme. There is a lot to consider, but for the right family, it can be one of the most important investments they make.
