Guide for UK Citizens on Obtaining Golden Visas in European Countries

Since Brexit, UK citizens have had to navigate new regulations for living and working in Europe. One attractive option for those looking to reside in Europe is the Golden Visa program, which offers residency or citizenship through investment in various European countries. Here’s a overview report on how UK citizens can obtain Golden Visas and the specifics of these programs in several European nations.

Over the coming weeks we will be publishing detailed articles on Golden Visas in specific European countries. To be alerted to new articles please subscribe to our e.mail newsletter.

Understanding the Golden Visa Program

Golden Visas are residency-by-investment programs that allow individuals to obtain residency permits or even citizenship in exchange for a significant investment in the host country. These programs often include options like real estate investment, business investment, or significant capital contributions.

General Requirements for Golden Visas

While specifics vary by country, general requirements often include:

1. Minimum Investment: A specified minimum amount of investment, typically in real estate, business, or financial assets.
2. Clean Criminal Record: Applicants must have a clean criminal record.
3. Proof of Funds: Documentation proving the legal origin of the investment funds.
4. Health Insurance: Proof of health insurance covering the applicant in the host country.
5. Residency Duration: Some programs require applicants to spend a minimum number of days in the country.

Country-Specific Golden Visa Programs

Here’s an overview of Golden Visa programs in several popular European countries:

1. Portugal

Portugal’s Golden Visa program is one of the most popular due to its relatively low investment threshold and flexibility.

• Investment Options:
  • Real estate: Minimum €500,000 in property purchase (or €350,000 in a property over 30 years old or in a designated urban regeneration area).
  • Capital transfer: Minimum €1 million transfer to a Portuguese bank account or approved investment.
  • Business: Creation of at least 10 new jobs or investment of €350,000 in a Portuguese company.
• Residency Requirements:
  • Minimal stay of 7 days in the first year, and 14 days in subsequent two-year periods.
• Benefits:
  • Visa-free travel within the Schengen Area.
  • Option for permanent residency or citizenship after five years.

2. Spain

Spain offers a straightforward Golden Visa program primarily focused on real estate investment.

• Investment Options:
  • Real estate: Minimum €500,000 in property purchase.
  • Business: Investment in a new business project that creates jobs, contributes to technological or scientific innovation, or has a significant socioeconomic impact.
  • Financial assets: Investment of €2 million in Spanish public debt or €1 million in shares of Spanish companies.
• Residency Requirements:
  • No minimum stay requirement for renewal of residency permit, but 183 days stay per year required for tax residency.
• Benefits:
  • Visa-free travel within the Schengen Area.
  • Pathway to permanent residency and citizenship after ten years.

3. Greece

Greece’s Golden Visa program is one of the most affordable in Europe.

• Investment Options:
  • Real estate: Minimum €250,000 in property purchase.
  • Capital transfer: Minimum €400,000 in Greek government bonds, shares, or bank deposits.
• Residency Requirements:
  • No minimum stay requirement.
• Benefits:
  • Visa-free travel within the Schengen Area.
  • Residency can be renewed every five years as long as the investment is maintained.
  • Option for permanent residency or citizenship after seven years.

4. Italy

Italy offers a Golden Visa program known as the Investor Visa for Italy.

• Investment Options:
  • Government bonds: Minimum €2 million investment.
  • Italian companies: Minimum €500,000 investment in an Italian limited company.
  • Startups: Minimum €250,000 investment in an innovative startup.
  • Philanthropy: Minimum €1 million donation to support public projects in culture, education, immigration management, or scientific research.
• Residency Requirements:
  • No minimum stay requirement, but applicants must reside in Italy to renew the visa.
• Benefits:
  • Visa-free travel within the Schengen Area.
  • Pathway to permanent residency after five years and citizenship after ten years.

5. Ireland

Ireland’s Immigrant Investor Program (IIP) offers various investment options with flexible requirements.

• Investment Options:
  • Enterprise investment: Minimum €1 million in an Irish enterprise.
  • Investment fund: Minimum €1 million in an approved investment fund.
  • Real estate investment trust (REIT): Minimum €2 million.
  • Endowment: Minimum €500,000 donation to a public project benefiting the arts, sports, health, culture, or education.
• Residency Requirements:
  • Minimal stay requirement of one day per year.
• Benefits:
  • Visa-free travel within the EU and Schengen Area.
  • Option for permanent residency after five years and citizenship after five years of residency.

Application Process

The application process typically involves the following steps:

1. Pre-Application: Consultation with legal and financial advisors to choose the best investment option and prepare necessary documents.
2. Investment: Making the required investment and obtaining proof of investment.
3. Application Submission: Submitting the application along with required documents (e.g., proof of investment, criminal record check, health insurance, etc.).
4. Processing: The application is reviewed by the relevant authorities, which may take several months.
5. Residency Permit Issuance: Once approved, the residency permit is issued, allowing the applicant to live and travel in the host country.

Conclusion

Golden Visa programs provide a viable pathway for UK citizens to reside in Europe post-Brexit. By investing in real estate, businesses, or other approved assets, individuals can gain residency and eventually citizenship in several attractive European countries. Understanding the specific requirements and benefits of each program is essential for making an informed decision and ensuring a successful application process.

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