How to Become a Golden Visa Owner and Where to Get the Cheapest One

Image by tawatchai07 on Freepik

Moving to another country allows you to improve your quality of life and explore a new culture. Thousands of entrepreneurs are looking for favorable offers. Their goals are to enter new markets, visit foreign partners and change their tax system. The abundance of Golden Visa programs for wealthy migrants convinces that the authorities also want to attract capital.

To choose the right offer, it is necessary to evaluate the available options. Studying the terms and conditions is the next step. Fortunately for us, the number of Golden Visa countries is increasing, and with it, the need to abandon one’s preferences disappears. Finding an option that fits your personal criteria is the right decision.

Steps to Obtain a Golden Visa

Expats enjoy a simplified naturalization process. Once completed, applicants receive citizenship or residency status. Both options are attractive as holders receive loyal terms and conditions. Potential Golden Visa programs holders need to:

1. Familiarize themselves with the norms. The authorities have identified the main criteria by which foreigners are checked. The conditions are published on official resources. You can ask an accredited agent for a consultation to avoid wasting a lot of time.
2. Prepare documents. The list of requested data includes bank statements, the results of medical examinations and confirmation of the absence of criminal records.
3. Apply request. You can make the request at the consulate in your country or by visiting the chosen state to hand over the documents in person.
4. Fulfill obligations. Investments in the economy, purchase of property and government bonds allow you to move to the next stage.
5. Receive approval and passport (residence permit). It is the final part of the process. According to the decision, the owner uses the benefits of permanent residence.

The time it takes to process the application and receive a decision depends on the rules set by the government.

Cheapest Countries Offering Golden Visas

The same method is often used to attract attention to investment programs – lowering the price for participation. Thanks to this, it is possible to compile the top 3 best (inexpensive) offers that should be considered by interested investors.

Sunny Greece and its program

This hospitable country has been welcoming expats for many years and they cannot resist such a favorable offer. The minimum investment is 250,000 euros. Contribution to the development of the economy will allow you to get a residence permit, and after 7 years of stay – citizenship.

Wealthy investors have the opportunity to scale their business, avoid double taxation and travel to European countries without a visa. In addition, expats do not have to spend a certain period of time in Greece to maintain their permit.

Portugal and citizenship in an EU country

It is worth paying attention to Portugal for several reasons. First, the country’s current offer is among the TOP cheapest Golden Visa programs. The main applicant contributes from 250 000 euros to obtain a residence permit. After 5 years, it is possible to formalize dual citizenship and enjoy numerous privileges:

• possibility to live and work in any European country;
• visa-free regime allows you to travel with a minimum of documents;
• investors can apply for a visa to the States.

Entrepreneurs over the age of 18 will be able to become part of a country with a unique culture, using capital for this purpose. Close relatives and children can be added to the application.

Grenada to enter new markets

The island state in the Caribbean attracts not only tourists. Grenada’s investment program is a quick way to get access to a visa-free regime and a favorable taxation system. To appreciate the offer on its merits, it is worth mentioning the cost of participation. The minimum investment for a future owner is 150,000 dollars.

You can apply for a second passport remotely. An accredited agent will help you collect and submit documents, make investments by the chosen method and obtain Grenada citizenship. Application processing time is up to 6 months, but pre-approval is granted sooner.

Benefits of Becoming a Golden Visa Owner

The Golden Visa is a government offer that involves contributions to the economy and permits for the investor can obtain. Migration is possible as a citizen and resident. Both permit options are available to interested migrants. The advantages of participation in the cheapest programs will allow you to evaluate:

• increase in the “strength” of the passport;
• visa-free regime;
• new taxation system.

Other benefits for the investor include simplified naturalization and the opportunity to obtain a visa in the United States.

Key Requirements for Golden Visa Eligibility

The soft requirements for investors explain the popularity of the cheap Golden Visa. It is possible to pass a pre-screening in advance to determine the candidate’s eligibility for the basic requirements of the programs. This list includes:

• attaining the age of majority;
• having financial assets to live and contribute;
• proof of legal business operation;
• clean criminal record;
• health insurance.

The verification period varies in different countries. Preliminary approval is a signal to make an investment. When the investment in the country’s economy is confirmed, the only thing left to do is to obtain a passport (residency). The decision on applications is sent by mail to the main applicant’s residence address.