Golden Visas and Other Options
Golden Visas have been getting a lot of attention in the press lately. They’re an immigration program for wealthy people who are interested in moving to another country and investing there. The U.S., Canada, Australia, and Ireland all have Golden Visa programs currently on offer that allow foreign investors to make certain investments in exchange for permanent residence status or citizenship. However, these aren't the only options out there for wealthy individuals looking to move abroad—if you know where to look! In this article we'll take a look at these alternative programs so you can determine which option is best for your personal situation:
Golden Visas are a relatively new concept, but they're not the only option for wealthy people who want to move to another country.
Golden Visas are a relatively new concept, but they're not the only option for wealthy people who want to move to another country. Australia, Canada and the UK all have programs that require a significant investment and provide long-term residency rights in exchange. The US has a similar program to Golden Visas called EB-5 (which stands for Employment-Based Fifth Preference Immigrant Visa).
The requirements vary slightly from country to country--for example, Australia requires an investment of more than A$2 million (about US$1 million) while Canada requires at least C$800K ($660K) in real estate or other assets--but generally speaking these types of visas allow you stay anywhere from two years up until forever if everything goes smoothly.*
Australia offers a similar program to the U.S. called Significant Investor Visas (SIVs).
Australia offers a similar program to the U.S. called Significant Investor Visas (SIVs). SIVs require a $5 million investment, and they're only available to investors who want to live in Australia or invest in Australia. If you're looking for an alternative to the EB-5 visa, this could be it!
Canada also has an investor residence program that requires a $2 million investment.
Canada also has an investor residence program that requires a $2 million investment.
The Immigrant Investor Venture Capital Pilot Program is open until June 2022, and it's similar to the EB-5 visa in that it offers permanent residency status to those who invest in Canada. However, there are some key differences between the two programs:
Canada will take your money regardless of where you live (as long as they approve), while the US requires you to show proof that you'll live in one of their approved states once your application is approved.
You can invest through either private or government funds; however, only government funds are eligible for this particular Canadian program--so if you want private investments instead, consider looking into other options like EB-5 visas or Tier 1 Entrepreneur Visas instead!
In Europe, the United Kingdom offers an entrepreneur's route which requires a £20,000 fee and £5,000 deposit for entrepreneurs with the potential to create jobs and generate revenue for the UK economy.
If you're looking for an alternative to the Golden Visa program, but still want to move your life and business to Europe, the United Kingdom offers an entrepreneur's route which requires a £20,000 fee and £5,000 deposit for entrepreneurs with the potential to create jobs and generate revenue for the UK economy.
Ireland offers an entrepreneur's visa which requires an investment of at least €500,000 in a business and at least two successful years of operation before being granted permanent residence status.
Ireland offers an entrepreneur's visa which requires an investment of at least €500,000 in a business and at least two successful years of operation before being granted permanent residence status.
The entrepreneur must have a minimum of 2 full time employees, and the investment must be used to create jobs in Ireland.
For wealthy investors looking for a new country to live in, there are many options beyond Golden Visas
If you're a wealthy investor looking for a new country to live in, there are other options beyond Golden Visas. These programs can be found in Australia, Canada and the United Kingdom (UK).
Australia has two main types of visas that are similar to Golden Visas: Significant Investor Visas (SIV) and Premium Investor Visas (PIV). SIVs require an investment of $5 million AUD ($3.6 million USD) into an approved fund or venture capital company over four years with no guarantee of return on investment--the same requirements as Portugal's Residency Scheme. PIVs require an investment of $15 million AUD ($11 million USD) into one or more approved businesses over four years with no guarantee of return on investment--similar but slightly more stringent requirements than those found in Portugal's Residency Scheme.
Canada also has two main types of visas which can be compared to Portugal's Residency Scheme: Immigrant Investor Programmes and Federal Business Immigrants Programmes.
In Ireland, there are several ways foreigners can qualify for residency if they meet certain criteria including buying property valued at least 250k euro ($300k USD), having assets worth 500k euro ($600k USD), starting a new business employing 10 people within three years or investing at least 1m euro ($1.2m USD).
If you're a wealthy investor looking for a new country to live in, there are many options beyond Golden Visas. Australia, Canada and Ireland all offer programs that require large investments that can lead to permanent residence status. These programs have been successful in attracting investors who want to move abroad with their families while maintaining ties with their home countries through business ventures or philanthropic work.