The Advantages of EU Golden Visa

Are you considering moving to a new country and starting to live and work there? Are you even planning to stay permanently? There are several ways to realize such plans. For example, you can do it for a solid investment. This option is suitable for wealthy people. Thanks to the European Golden Visa, wealthy individuals can buy the right to stay – sometimes, they don’t even need to reside in the country. Demand for it is increasing rapidly. It is necessary to understand what it is, its advantages and disadvantages, and the peculiarities of obtaining it.

What is a Golden Visa?

It means a scheme of residence for investment, which allows obtaining a residence permit in the country when buying real estate there, creating a significant investment or donation. The applicant must be of legal age, have no criminal record, and have sufficient capital to fulfill the program conditions. This method is available for getting a residence permit through investment. 

We know about various Golden Visa Programs – they mostly started operating in the EU in 2013. Some are no longer in operation, while others can be applied for now. Such countries include: 

• Malta;
• Portugal;
• Cyprus;
• Spain;
• Italy;
• Greece.

A reliable “reserve airfield” in Europe offers Schengen travel without visas. It also guarantees many other pros, which you should familiarize yourself with.

Benefits of EU Golden Visas

The first advantage is that there are several options available for obtaining. In other words, a person is not limited to any one option. He can explore all the ways and stop at the optimal one for himself. For example, investments in real estate. It is necessary to purchase one or more objects for a specific amount – residential or commercial. You can not withdraw investments from the country for 5 years. You can also buy securities, pay taxes, make a bank deposit, and open a business.

As for other benefits of EU Golden Visa, it is worth highlighting the following privileges:

• a chance to optimize taxation;
• the opportunity to educate your child in the best educational institution in Europe – secondary and higher education;
• access to quality healthcare;
• a first-class standard of living;
• processing of any property on yourself.

You should choose an acceptable option for yourself and your family and turn to professionals. According to Vladlena Baranova, the Immigrant Invest agency representative, it will be difficult to do all the manipulations on your own. Specialists will provide comprehensive qualified assistance in this case and tell you what documents are required to apply.

How to get an Italian Golden Visa?

If you are considering the possibility of immigration, deciding on the relocation place is necessary. Many people are attracted to Italy, which offers a residence permit for investments in the economy for a minimum of 250 thousand euros. Investors and their family acquire the status under a particular program. It is designed for citizens of states that are not members of the European Union. The program involves the investment of different amounts. The minimum, 250 thousand, is a stake or shares in a startup. A share in a local organization costs a little more, 500 thousand. The sum of one million is sent to charity, 2 million – to government bonds. 

A foreigner must buy or rent real estate in the country for an Italian Golden Visa. There are no limits on the cost. This status is issued for 2 years for the first time; after that, extending it for 3 years is possible, but you will have to keep your investments. It is not required to confirm knowledge of the language. After five years of residence in the country, it is offered to get a residence permit. Then, investments are returned – the sale of a share in the company, for example. Applicants for this must register at their place of residence.

Disadvantages of the European Residence by investment

The main disadvantage is that many Italian banks are unfamiliar with the unique requirements and deadlines for obtaining an investor visa. It makes opening a personal bank account for non-residents a problematic task. However, there are still many advantages to the process. There are some Golden Visa perks, and they consist of attractive tax breaks for wealthy investors. According to the article of the Italian Tax Code, it is possible to apply an optional tax regime for new residents. It allows replacing the traditional taxation system with a fixed tax of 100,000 euros 

Conclusion

There is nothing complicated in formalizing this status. You need to familiarize yourself with all the requirements carefully, ensure that you meet them, and collect the necessary package of documents. After obtaining one investment status, you can think about a second one, and then it will be time to consider the possibility of acquiring citizenship in the chosen country.