Top Cheapest Golden Visa Countries: Requirements and Benefits
In an increasingly globalized world, the concept of global residency has gained significant traction. One way that this has been facilitated is through the rise of Golden Visa programs in various countries. These programs have become a game-changer, offering individuals and families a unique chance to open up a world of opportunities through investment.
While Golden Visa programs are available in many countries around the world, some offer more affordable thresholds compared to others. By analyzing the investment amounts, residency rights, and other advantages, we’ll provide a comprehensive guide for individuals considering the Golden Visa as a pathway to global mobility and investment diversification. We’ll explore the cheapest Golden Visa programs, concentrating on eligibility criteria, investment requirements, and benefits.
Key Takeaways
- The final cost of the Golden Visa program depends on several factors, including the initial investment amount, government due diligence fees, family inclusion in the application, legal and professional fees, and more.
- Among the countries with the cheapest Golden Visa programs are the United Arab Emirates, Latvia, Greece, Malta, and Portugal.
- The cheapest Golden Visa programs are packed with a number of benefits. Dual citizenship, family inclusion, and a favorable tax environment are just a few examples.
What Are Golden Visa Programs?
Golden Visa programs offer foreign nationals the opportunity to obtain residency in return for an investment made in real estate or government bonds. The main purpose of these initiatives is to attract foreign investment and talent to stimulate the domestic economy.
The appeal of Golden Visa programs lies in the benefits they provide to high-net-worth individuals and families. From visa-free or visa-on-arrival travel to the majority of the world’s countries to favorable tax treatments for visa holders, these programs are a good pick for those seeking greater international mobility, financial security, and lifestyle flexibility.
Factors Influencing The Cost Of Residency By Investment (Golden Visa)
The costs related to investment programs can vary greatly from one country to another. While the primary investment is usually the main cost, several other fees also contribute to the overall expenses the investors should take into account.
To attract more investors, many countries tend to reduce the end cost of the investment program by lowering the auxiliary expenses. Let us enumerate some of those costs that can influence applicants’ finances.
Initial Investment
The minimum contribution required to be made to the country's economy is the key factor in applying for the program. Usually, the investment is made in real estate or government bonds. The amount of investment may vary from $100,000 to several million dollars.
Due Diligence Fees
Regardless of the investors’ wealth and willingness to contribute, security remains the utmost priority for every country. This is where Due Diligence comes into play. It’s a unit of several procedures, including a very thorough background check on the applicant and their family to ensure they have a crystal-clean criminal and financial record.
The process also involves verifying the source of investment funds to ensure they are from legitimate sources. Other checks related to the process are document verification, risk assessment, and compliance review.
Residency Requirements
Some countries require a minimum stay to maintain residency. Associated expenses include rental fees, airfare, and additional related costs.
Family Inclusion
Investors have a chance to include their family members in the application, namely their spouses, dependable children, and dependable parents. For each included member, the cost of the minimum investment typically increases.
Legal and Professional Fees
As the process of choosing the cheapest Golden Visa, or the one which is the best fit, is usually time and effort-consuming, many investors refer to professional assistance. Agencies like Mirabello Consultancy ensure that every detail is meticulously handled, from initial consultation to application submission.
Other Fees
The additional costs related to residency through investment programs are application fees, costs for medical examinations, translation and legalization expenses, insurance, and other charges.
Before processing the application, it’s crucial to thoroughly assess all the potential costs that might pop up along the way.
Top Cheapest Golden Visa Programs In The World
Middle East
UAE Golden Visa
As a leading business and investment hub, the UAE offers a favorable tax environment and a strategic location for trade and commerce. Thus, it attracts foreign investors from all over the world and is home to many multinational companies.
In 2019, the country introduced one of the cheapest Golden Visa programs out there as a straightforward pathway to UAE permanent residency. With a minimum investment of AED 750,000, foreign investors can unlock the world of opportunities that the country has to offer.
Investment options:
- Real Estate Investment - Investors can receive a 2-year resident visa by purchasing property in the Freehold Zones. The minimum investment amount for this option is AED 750,000 (about USD 205,000). To obtain a 10-year resident visa, investors must purchase a property worth no less than AED 2mln (about USD 550,000)
- Entrepreneurial - a 5-year Golden visa is given to those entrepreneurs who are ready to invest a minimum of AED 500,000 in a government-approved project.
Saudi Arabia Premium Residency
The Saudi Premium Residency offers a variety of options for different groups, starting from gifted individuals to working professionals. The Residence permit gives ample opportunities to conduct business and some benefits previously available to citizens only. Ranked as one of the safest countries in the world, with strong economic and industrial growth, it’s no no-brainer that many seek to obtain residency in the country.
Investment options:
- Investment in Real Estate - A minimum of SAR 4-7 mln (about USD 1-2 mln) must be spent to purchase already developed residential property.
- Limited-Stay Residency - For those conducting short business, the country offers a short stay residency with a duration of 1 to 5 years in exchange of SAR 100,000 (about USD 27,000)
- Unlimited Duration Residency - For those seeking to permanently reside in Saudi Arabia, the country offers an investment option of SAR 800,000 (about USD 214,000).
Europe
Latvia
Latvia is part of the Eurozone and is also included in the Schengen zone. The country offers one of the cheapest Golden Visa programs in Europe. Hence, it’s an attractive option for many investors to establish a foothold in a European country. Applicants can apply for permanent residency after five years, but they should live most of that time in Latvia. The minimum investment amount is €50,000.
Investment options:
- Business Investment - A minimum of €50,000 should be made in a company with less than 50 employees and a €10 million annual budget.
- Real Estate - A minimum investment of €250,000 should be made, including the 5% government fee.
Malta
The Maltese Golden Visa program is one of the most sought-after residences by investment in Europe, thanks to its streamlined and attractive proposition. The program offers visa-free travel to the Schengen area, access to high-quality healthcare and educational systems, and economic stability. The minimum investment amount is €300,000.
Investment options:
- Property Purchase - If the investors want to buy a property in Gozo Island or Southern Malta, they should be ready to contribute a minimum amount of €300,000. Anywhere else in Malta, the investment increases to €350,000. Property must be held for 5 years.
There are certain fees that the Maltese government requires the applicant to pay to be qualified.
- Processing fee - €40,000
- Non-refundable government contribution - €28,000
- Charitable donation - €2,000
Portugal
Launched in 2012, Portugal’s Golden Visa program is attracting a growing number of high-net-worth individuals around the world eager to find their freedom in a vibrant European country. Along with all the advantages the program has to offer its applicants, Portugal is known as a relatively affordable country, making it an even more attractive destination for investors seeking residency. The minimum investment amount is €350,000.
One of the main investment options is purchasing a property.
Greece
Greece is not only a land of natural beauty and cultural landmarks but also a favorable destination for potential investors. The interest in the Greece Golden Visa is rapidly increasing, so the government is taking all the necessary steps to make the program efficient and smooth. The program is packed with numerous perks, namely visa-free travel to 185 countries, profitable rental prospects, and a peaceful lifestyle in a small Mediterranean country. The minimum investment amount is €250,000.
Investment options:
- Real Estate Investment - This is the most attractive option among investors as it can turn into a source of income.
- Contribution to Government Bonds and Shares - This option includes purchasing shares or corporate bonds with a minimum value of €800,000.
- Capital Contribution - The investors have the option to invest a minimum value of €400,000 to a company based in Greece.
Please note that upcoming changes are expected in the minimum investment amount.
Cheapest Golden Visa For Families/Entrepreneurs and Business Owners, Frequent Travelers, Retirees
Cheapest Golden Visa programs are planned and executed to cater to different needs. Anyone can pick the best option, no matter if they are seeking better living conditions, financial and economic stability, unrestricted global mobility, or simply retirement in a peaceful and panoramic county.
Middle East countries present an excellent choice for investors looking to include their families in their applications, offering some of the cheapest Golden Visa options available.
Entrepreneurs and business owners can stick to the Middle East countries, including the United Arab Emirates and Saudi Arabia as they are considered the biggest economic and industrial hubs of the world.
Benefits Of Getting The Cheapest Golden Visa
In today’s globalized world, it has become increasingly popular among investors to obtain global mobility and residency benefits. By choosing one of the cheapest Golden Visa programs, one can get a bunch of advantages:
Second passport - It’s never harmful to have a second passport in the back pocket. Given the current uncertain times, where anything can occur unexpectedly, it's wise to have an alternative for a stable and secure life.
Enhanced Mobility - Most of the Golden Visa programs, including the ones with small investment thresholds, provide visa-free travel to a large number of countries.
Tax Benefits - Many countries with Golden Visa programs provide favorable tax environments with many initiatives to attract business owners and entrepreneurs.
Family Inclusion - Many Golden Visa programs allow their investors to include their daily members in the application in return for paying additional fees.
Financial Diversification - Investors can secure their properties and assets in countries with strong legal and financial frameworks.
Conclusion
Securing stability has never been more crucial. The rise of Golden Visa programs across various countries offers a strategic pathway for individuals and families seeking to fortify their future. While these programs are available in many countries, the cheapest Golden Visas are the most sought-after. Many factors contribute to the low cost of the final investment, including the initial investment amount, due diligence fees, and more. Among the countries with the cheapest Golden Visas are the United Arab Emirate, Latvia, Malta, Greece, and Portugal.
If you want to get more straightforward information about the Golden Visa programs, feel free to contact one of the agents at Mirabello Consultancy.
