The golden visa, how to obtain it, and how to obtain it? All of this will be presented by the Banker website in the following report.
1/ What is the “golden visa”? And what do we know about the UAE and Saudi Arabia?
The Golden Visa, also known as “Residency by Investment,” is a program that grants individuals temporary or permanent residence in a country in exchange for financial investments, such as purchasing a property, starting a company, or donating to a government fund.
2/ Why is the Golden Visa popular?
These programs emerged decades ago as a way to attract foreign investment. It gained popularity during economic crises such as the European debt crisis, when countries such as Portugal and Greece began offering these visas to increase revenues.
3/ How does the golden visa work?
For example, Portugal introduced its program in 2012, whereby non-EU citizens could obtain a visa in exchange for investing €500,000 in a property or €350,000 in other projects. The visa allows freedom of movement between EU countries with the possibility of applying for citizenship after a few years.
4/ What are the new changes?
Many European countries have begun restricting or stopping Golden Visa programs due to concerns such as money laundering and rising property prices. Portugal, for example, has eliminated the option to invest in real estate for a Golden Visa.
5/ What about other countries?
• In Greece: The minimum real estate investment increased to 400,000 euros.
• In the Caribbean: The cost of citizenship by investment programs has increased to at least $200,000 with enhanced security screening procedures.
6/ Who opposes golden visas?
The European Commission criticized these programs because of their security and economic risks. Public pressure to provide affordable housing has led to the reduction of these programs in many countries.
7/ Is it still possible to obtain a golden visa?
Despite increasing restrictions, some countries still offer alternative investment options, such as funding scientific research, investing in local companies, or creating new jobs.
8/ What about golden visas in the UAE?
The UAE offers “Golden Residency” which is granted to investors, those with exceptional talent, researchers, and businessmen. Conditions include:
• Investment worth 2 million dirhams in real estate.
• Establishing a company or investing in strategic sectors.
• Scientists and people with talent can obtain it without financial investment.
Golden residency in the UAE provides long-term stability and facilities for living and working.
9/ Golden visa in Saudi Arabia?
Saudi Arabia launched the “Prime Residency” in 2019, which is an alternative to the golden visa, and gives residents advantages such as owning real estate and establishing businesses.
Options include:
• Permanent residency with a one-time fee of 800,000 Saudi riyals.
• Annual residency fee of 100,000 Saudi riyals.
The distinctive residency aims to attract investors and enhance economic diversification in the Kingdom.
10/ Are you interested in obtaining a golden visa?
Before making any decision, study the available options and investment conditions for each country to determine what is best for you and your family.
