Invest in a property and obtain a Golden Visa Portugal allows the holder free movement meaning that one can live, work, and study in Portugal and anywhere else within the European Union, European Economic Area, Switzerland and the United Kingdom.

For a minimum investment of €500,000 the Golden Visa Portugal has the following benefits:

  • Travel visa-free to 186 countries
  • Includes family members
  • Renewable every two years with no residency requirements
  • Citizenship is possible in 5 years.

Golden Visa Portugal real estate purchase

The Golden Visa Portugal real estate option is perhaps the most popular way to get residency in Portugal. This is because Portugal is seen as a prime destination among property investors, with a flourishing real estate market, high rental yields, and booming tourism industry.

Many expats invest in a property in Portugal for tourism purposes, or to serve as a second home or a retirement destination. You can invest in newly-built properties in thriving Lisbon or Porto. However, the Portuguese government would like to transfer the focus of real estate investments from the high-density areas like Lisbon, Porto, the Algrave, and the high-density coastal towns like Setubal and the Silver Coast to low-density areas like the Azores, Madeira and the cities and towns in the interior of Portugal.

  • Invest in a property of €350,000 in a low-density area requiring rehabilitation or located in urban re-generation areas. The property for sale must at least be more than thirty years old and undergoing renovation.
  • Invest in a property of €500,00 for all other properties in Portugal.

Golden Visa Portugal capital investment options

Investing in private equity funds or Golden Visa Portugal venture capital funds is a good option for acquiring residency in Portugal. The funds are managed by fund managers who are accredited by Portugal’s regulatory body, the Portuguese Securities Market Commission or CMVM. Your dedicated fund manager ensures that the Golden Visa Portugal fund investments are appropriately invested in areas like energy, industry, healthcare, technology; in start-ups or medium-sized projects with optimal growth potential.

These are the possible investment options:

  • A capital transfer of at least €1.5 million.
  • A €500,000 investment into private equity or venture capital funds providing capital to specified companies .
  • A €500,000 investment in companies that are scientific or technological in nature.
  • A €500,000 business investment in the form of either the purchase of shares in a Portuguese company or setting up a company in sectors like energy, industry, technology, and real estate.
  • Generate at least five permanent jobs for at least three years for Portuguese citizens.

Benefits of capital investments Portugal

  • Dividends and capital gains returned to investors may be tax-exempt for venture capital funds.
  • Some funds have a minimum return hurdle-rate.
  • A handful of funds are supported by the Portuguese government through subsidies or financed by the IFD (Instituição Financiera de Desenvolvimiento).
  • The funds are regulated and they comply with the Portuguese Securities Market Commission rules.
  • Opportunity to invest directly in real estate development in Portugal.

Fund investment vs real estate purchase

  • Diversification of investment vs one or two properties.
  • Tax advantages on fund earnings vs withholding taxes.
  • Low acquisition fees vs IMT tax and stamp duty.
  • Professional fund managers vs yourself or a costly third property manager.
  • Save time and legal fees vs requirements from property holder.
  • Portuguese funds are considered “risk funds” vs stable real estate market.
  • Funds do not guarantee the invested return or a stable yield vs guaranteed rent.
  • Funds need to held for at least six years vs no minimum term for real estate investment.

It must be noted that you only have until the end of 2021 to enjoy the minimum investment of €350,000 for capital funds.

Speak to one of our Golden Visa Portugal Consultants so we can understand your objectives and help you move forward. We have an experienced, hands-on team, who help clients from around the world acquire real estate or diversify their investment portfolio with safe and robust investments.

Of the top 20 universities in the world according to the QS Global World Ranking, seven can be found in Europe.  These are the following:

2- University of Oxford

3- University of Cambridge

7- Imperial College London

8- ETH Zurich – Swiss Federal Institute of Technology

9- University College of London

14- EPFL – Swiss Federal Institute of Technology, Lausanne

16 -The University of Edinburgh

However, admittance to these universities is stringent and the cost of tuition can be very expensive. The cost of living in these countries are also very high. However, one can still study in Europe, particularly in Portugal with a Golden Visa.

Reasons why Portugal is an ideal place to study

Portugal is home to many excellent universities including a few that have an excellent global reputation.

  1. Excellent Universities

The Universidade Nova de Lisboa is the top university in Portugal and is among the top 25 new universities in Eurpoe.  It is ranked 431 in the QS Global World Ranking. The Universidade Catolica Portuguesa (UCP) is best known for its Masters in Management and the University of Porto has been the leading European school of architecture.

  1. Low Cost of Tuition

Most universities in Portugal are public universities which means that the tuition fees are reasonable or even free.

  1. Low Cost of Living

The cost of living in Portugal is relatively low compared to other European countries. One can live comfortably on a student’s budget.

  1. Welcoming Country

The Portuguese have a reputation as hospitable people. They do not discriminate tourists, from workers, from immigrants, from Erasmus students or postgraduate students.

  1. Small Country

Being a small country, all of Portugal’s natural wonders including its beaches, and historic cities can easily be explored in a very short time.

  1. Learn Portuguese

Knowing a second or third language is always an asset especially if one wants to live and work in Europe. Portuguese also happens to be the world’s sixth most spoken language.

  1. The Weather

Portugal enjoys sunshine most of the year with only an average of 90 days of rain in a year.  Regions in the south of Portugal like Alentejo and Algarve enjoy even more sunny days.

  1. Portuguese Cuisine

Portugal boasts of a healthy Mediterranean cuisine based mostly on fish, vegetables and legumes, and fruits. Desserts are mostly based on varied combinations of eggs, sugar and cinnamon.

  1. Work Opportunities

While studying in Portugal, there are many internships and part-time jobs available for students.  After graduation, these same companies might opt to keep you or you may find opportunities in the local start-up scene or larger businesses including international companies with ties to Portugal like Brazil.

The Golden Visa Portugal will allow your child to avail of an excellent education and at the same time enjoy a unique lifestyle.  

Benefits of the Golden Visa Portugal

  • A minimum investment of €500,000 in real estate property
  • Travel visa-free within the European Union, European Economic Area, Switzerland, the United Kingdom and 186 other countries
  • Includes family members
  • Renewable every two years with no residency requirements
  • Citizenship is possible in 5 years
  • Allows holder to live, work, and study in Portugal

Golden Visa Portugal real estate option

The Golden Visa Portugal real estate option is perhaps the most popular way to get residency in Portugal. This is because Portugal is seen as a prime destination among property investors, with a flourishing real estate market, high rental yields, and booming tourism industry.

  • Many expats buy properties in Portugal for tourism purposes, or to serve as a second home or a retirement destination. You can invest in newly-built properties in thriving Lisbon or Porto starting from €500,000.
  • However, the Portuguese government would like to transfer the focus of real estate investments from the high-density areas like Lisbon, Porto, the Algrave, and the high-density coastal towns like Setubal and the Silver Coast to low-density areas like the Azores, Madeira and the cities and towns in the interior of Portugal where you can invest €350,000 for existing properties located in urban re-generation areas
  • The most economical investment route for the scheme is to make a €280K investment in the rehabilitation of real estate in low-density areas. The Portugal Golden Visa property for sale must at least be more than thirty years old and undergoing renovation.

Golden Visa Portugal capital investment options

Investing in private equity funds or Golden Visa Portugal venture capital funds is a good option for acquiring residency in Portugal. The funds are managed by fund managers who are accredited by Portugal’s regulatory body, the CMVM. Your dedicated fund manager ensures that the Golden Visa Portugal fund investments are appropriately managed in start-ups or medium-sized projects with optimal growth potential.

  • A capital transfer of at least €1.5 million
  • A €500,000 investment into private equity or venture capital funds providing capital to specified companies
  • A €500,000 investment in companies that are scientific or technological in nature
  • A €500,000 business investment in the form of either the purchase of shares in a Portuguese company or setting up a company in sectors like energy, industry, technology, and real estate.
  • Generate at least five permanent jobs for at least three years for Portuguese citizens.

The global pandemic has brought the whole world to a standstill. It has changed many of our human activities particularly the ability to travel from one place to another for work or pleasure, an activity that has become commonplace for many people. This mobility has been accelerated by the appearance and influence of the internet and social media where the desire and ability to move is prevalent. Migration, has therefore, become a life choice whether temporarily or permanently, and seeking residence abroad increased the last years. In many ways, the global economy depends on people making decisions to migrate. Global migration has proven to be an integral and necessary part of our globalized economy whether it be as students, laborers, entrepreneurs or businesspersons.

How covid has changed our freedom of movement

The spread of the covid-19 virus worldwide and the management or mis-management of this crisis has countries imposing lockdowns, requiring quarantines, closing borders and requiring certifications of health and tests, vaccination cards and more, human movement has been greatly curbed or altogether halted. The freedom of movement in the global pandemic that does not seem to have an end, has changed the way we move about possibly for the long term and maybe forever. Covid-19 is likely to have lasting migration implications long after people, health systems, and the economy bounce back.

Those abroad with temporary worker’s visas may not be able to go home because of complicated immigration and visa regimes and may experience prolonged separation from their families. They may at some point, loose their jobs due to the economic downturns.  Students with temporary visas are also at risk of loosing their visas along with their internships, part-time jobs and opportunities to work in the country of their choice.

The global pandemic has also brought about political turmoil, economic crisis, climate change and other problems in many countries.  People from these countries are opting to quit their jobs and continue further studies abroad to be able to avail of a permanent residency visa and seeking residence abroad. The demand for this type of visa has never been higher.    

How the Golden Visa can help you to seeking residence abroad

The Golden Visa is an excellent solution to this global problem. Golden Visa holders have the option to live, study and work permanently in a country that has efficiently and properly managed the Covid-19 crisis, has an excellent healthcare system, a stable government and a high standard of living.  It also allows for freedom of movement for the holder and his family.

It is a worthy investment in an uncertain future for the holder and his family.

Benefits of the Golden Visa Spain  

  • A minimum investment €500,000 in Spain in prime real estate property
  • Freedom of movement throughout the European Schengen area
  • Excellent healthcare
  • World-class school and universities including the two if the best business schools in the world
  • A healthy lifestyle that is based on the Mediterranean diet
  • A relaxed, unhurried pace of life.

Benefits of the Golden Visa Portugal

  • A minimum investment of €500,000 in real estate property or capital investments
  • Travel visa-free within the European Union, European Economic Area, Switzerland, the United Kingdom and 186 other countries
  • Includes family members
  • Renewable every two years with no residency requirements
  • Citizenship is possible in 5 years
  • Allows holder to live, work, and study in Portugal
  • Excellent educational system
  • Excellent healthcare system

Benefits of the Golden Visa Greece

  • A minimum investment of €250,000 in real estate property
  • Five-year residency after which one can apply for the citizenship program
  • The right to live, work and study in Greece
  • The entire family is eligible
  • Visa-free travel to Schengen zone
  • Good quality of life
  • High standards of education
  • Free and equal access to the Greek Healthcare System

Studying in Europe is a whole different experience. Each country has a unique culture that is rich in history and tradition but also have a mix of different cultures. Each country boasts of beautiful cities and amazing natural surroundings with many things to experience including the food and lifestyle. Your children can have the possibility to study in the best colleges and universities thanks to the Golden Visa Europe

Ten best countries to study in Europe

United Kingdom

Four of the top ten universities in the world are located in the United Kingdom according to the QS World University Rankings 2022 – University of Oxford (#2), University of Cambridge (#3), Imperial College (#7) and University College London (#8).  There are more than 395 universities and colleges in the UK, with a total of 50,000 undergraduate courses.

University degrees from the UK are respected around the world where the choice of subjects and courses are extensive. Students have work opportunities that are either part time jobs or internships. The university may even help as part of the course that will give one a competitive edge upon graduation.

The UK now grants a post-study visa to stay and work in the UK for a further 2 years.

Portugal

Portugal has one of the best educational systems in Europe. Since the year 2000, the OECD or Organization for Economic Cooperation and Development and the PISA or Program for International Student Assessment has reported that Portugal is the only country that has been consistently improving its student assessment scores in mathematics, science and literacy and has called Portugal the “rising star of international education.”

Spain

The Universidad Autonoma de Madrid has an excellent global reputation in education and training in research, technology and innovation. Universities and colleges in Madrid offer a wide range of subjects and can combine internships or part-time jobs with academic study.

Barcelona is the only European city with two academic institutions (IESE and ESADE) among the top 10 business schools in the world according to The Financial Times.  Since the founding of the University of Barcelona in 1450, Barcelona has fostered an environment that promotes creativity and forward thinking.

France

France is a multicultural country where international students are welcome. The  tuition rates are attractive despite a high standard of education that is most outstanding in the fields of research and development.

Most of the classes are conducted in French although there are universities and colleges where English is used. Among the 3,500 institutes of higher education in France, The Universite PSL is ranked #44 in the QS World University Rankings 2022, the Institut Polytechnique de Paris #59 and the Sorbonne University # 72.

Germany

Germany has been ranked the 4th most popular destination for international students in the world.  The Technical University of Munich ranks #50 in the QR World University Rankings 2022.  Germany’s universities excel in research and teaching and offer a wide range of courses. Teaching methods include close links between theory and practice and collaboration with companies.  The Ruprecht-Karls Universitat in Heidelberg ranks # 63, while the Ludwig Maximilians Universitat Munchen is # 64 out of 100 top ranked universities in the world.

The Netherlands

The Netherlands has one of the oldest and most reputable higher education systems in the world but affordable tuition fees and living expenses. The innovative teaching methods and wide range of degrees taught in English allow the following Dutch universities to rank accordingly – University of Amsterdam #55 and Delft University of Technology #57.

Italy

University of Bologna is the oldest university in Europe and the origin of the western educational system.  Courses in the arts, fashion, design and culture are the most popular in Italy and being offered by IED, Istituto Europeo di Design, Politecnico di Milano where innovation and research are foremost. Thirty universities in Italy were included in 2019 QS World University Rankings.

Poland

Poland is the 6th most liked country for studying because of its affordable tuition and living expenses. It is known for its courses in business, history, international law. Its 400 universities are top-rated in Europe and have programs taught in English and Polish.

Romania

The affordable tuition and living expenses make Romania an ideal place to study. It has numerous academic programs that are taught in Romania, English, Hungarian, French or German where theory and training are combined. Scholarships are available to foreign students.

Greece

Greece has 24 universities and 16 technical universities most of which are public. The top universities are University of Crete, Athens University of Economics and Business, Aristotle University of Thessaloniki, University of Ioannina and University of Patras.  Greece boasts of affordable tuition which is free for EU and EEA students.  Courses are focused on philosophy, architecture, politics and history, and medicine.  

Improve the education of your children with the Golden Visa Europe

Of these ten best countries to study in Europe, Portugal, Spain and Greece is a possibility with the Golden Visa Europe.

Golden visa Spain  

  • A minimum investment €500,000 in Spain in prime real estate property
  • Freedom of movement throughout the European Schengen area
  • Excellent healthcare
  • World-class school and universities including the two if the best business schools in the world
  • A healthy lifestyle that is based on the Mediterranean diet
  • A relaxed, unhurried pace of life.

Golden visa Portugal

  • A minimum investment of €500,000 in real estate property
  • Travel visa-free within the European Union, European Economic Area, Switzerland, the United Kingdom and 186 other countries
  • Includes family members
  • Renewable every two years with no residency requirements
  • Citizenship is possible in 5 years
  • Allows holder to live, work, and study in Portugal

Golden visa Greece

  • A minimum investment of €250,000 in real estate property
  • Five-year residency after which one can apply for the citizenship program
  • The right to live, work and study in Greece
  • The entire family is eligible
  • Visa-free travel to Schengen zone
  • Good quality of life
  • High standards of education
  • Free and equal access to the Greek Healthcare System

Greece is a huge, complex, and visually gorgeous country with sun-drenched islands, towering mountains, busy cities, and ageless customs. It is bright, inviting, and full of surprises, wrapped in the warm embrace of the Aegean Sea. The sights and sounds of Greece captivate you from the moment you arrive: sparkling whitewashed buildings along tree-lined promenades, the legendary Parthenon standing tall above the bustle of the capital, wizened old fishermen mending nets along the seaside, the bright colors of produce in farmers’ markets, and the bleating of goats on the fringes of an age-old village. You can live there with the Golden Visa Greece.

Requirements to obtain the Golden Visa Greece

To be eligible for a Golden Visa in Greece, you must be a citizen of a non-EU/EEA nation, at least 18 years old, have a clean criminal background, and have health insurance. You no longer need to visit Greece in person to apply for your Golden Visa as of 2021. There are various sorts of investments that will qualify you for a Greece Golden Visa such as:

  • A minimum of 250.000€ is required for the acquisition of a real estate property in Greece. The real estate property must be owned by you; if you purchased the property through a legal entity, you must hold 100% of the company shares.
  • Ten years of a leasing arrangement, whether for hotel accommodations or furnished tourist homes in integrated tourist destinations. The contract must cover at least ten years and €250,000 in rental amount, and must demand a single payment of rent for the equivalent of the ten-year leasing of the property.
  • A minimum investment of 400.000€ in Greek government bonds, bonds or shares of Greek real estate investment firms, or shares and bonds of venture capital and private equity funds with a Greek headquarters

Benefits of a Golden Visa

You and your family can live in Greece with the Greece Golden Visa. The Greece Golden Visa allows you to enroll your spouse and children under the age of 21, making all of them eligible for and may enjoy all of the benefits of a Golden Visa card. The primary applicant’s parents and parents-in-law are also eligible for cards with no further criteria.

The right to live in Greece includes access to public healthcare and education, and the Golden Visa also allows you to travel freely across the Schengen area. There is no time limit on how long you may remain, and there is no requirement for a minimum length of stay. Depending on your place of residency and the length of time you spend in Greece, your overseas income may or may not be taxed in Greece. You may continue to do business outside of Greece while benefiting from tax breaks. As of January 2021, Greece has also offered tax breaks to foreigners living in the nation as tax residents. The Golden Visa is valid for five years and can be renewed as long as the investment is maintained. You can apply for Greek citizenship after seven years of continuous residency.

Documents required in the application process

The application process is fairly straightforward. You must first determine your investment criteria and then choose the property where you’d like to invest. You can invest in a variety of features as long as the value is equal to or more than 250.000€.

You’ll need to get a Greek Non-Resident Tax ID and create a Greek bank account, and prepare all of the needed documentation for the Golden Visa application. It is recommended to hire a lawyer because this may be daunting. A lawyer must do the property’s “Legal Due Diligence” on your behalf. Following that, you’ll need to obtain a promissory sale and purchase agreement as well as the completion of a public deed. The following documents are necessary for the application:

  • a photocopy of your passport
  • a photocopy of your VISA.
  • a copy of the property’s finalized contract.
  • a copy of the contract’s record at Greece’s Land Registry and Cadastre.
  • a Permanent Residence Permit, which costs 2.000€.
  • A Residence Permit card, which costs 16€.
  • photographs of the applicant

After submitting your documents and obtaining approval for your Golden Visa, you will be issued a Golden Visa Residence Card.

The Greek government issues Greece Golden Visa cards that are good for five years. Your residency permit must be renewed every five years. The criteria for renewing your visa are as follows: the real estate property must be completely owned by you, the principal applicant, or the applicable leases/contracts are still valid and meet the requirements. The following documents are necessary for renewing your Golden Visa:

  • a completed application
  • four colored passport photos taken recently
  • a genuine copy of valid passport or other approved travel papers issued by Greece
  • a certified copy of the prior permanent residence card
  • an insurance company’s certification of the expense of hospitalization and medical services.

Under some circumstances, the authorities may need extra documentation in order to renew the residence permit.

Orience International offers complete solutions for residency and citizenship by investment programs in a variety of countries across the world. We deal with clients from all over the world who want to get Greece Golden Visas or make real estate investments in Greece. Contact us to speak with one of our legal professionals who can assist you with your inquiries.

Golden Visa Programs allow you to get citizenship or residence by investing. These are aimed at well-to-do individuals who wish to get residence in a specific country by investing a significant amount of money or acquiring property. This article will introduce three countries with Golden Visa Programs, and compare the programs available in each: Spain, Portugal, and Greece.

Portugal

Portugal, the westernmost country in continental Europe, exists peacefully in the shadow of the bigger, more raucous Spain. Portugal, with a strip of shoreline and an interior that can transport you back centuries, nevertheless belongs to a different age in many respects. It emanates history, beauty, and a slower pace of life. People care about their family and friends, and they know their neighbors and the local shops. They are courteous and polite, resolutely old-fashioned, and acutely aware of their rich history. Quiet, cobblestone alleys weave through beach communities, and ancient houses appear weathered and lived-in. It would be misleading to believe that modernity has passed Portugal by—its infrastructure, education system, and healthcare are among the most advanced in the world.

The following are the best options for obtaining an investment visa in Portugal:

  • Investment fund of 280.000€ – the property to be acquired must be a rehabilitation project (at least thirty years old and undergoing repair) located in a low population density location, such as the Azores and Madeira Autonomous Regions.
  • 350.000€ investment fund – purchased property must be at least 30 years old and in need of refurbishment. Property in metropolitan locations, such as Lisbon or Porto, can be purchased by the investor.
  • Investment fund of 500.000€ or more – the investor can buy a new, renovated, or historic house in their favorite location of Portugal, ideal for foreigners searching for a second home.

Spain

Spain, Western Europe’s second-largest country, offers a wide variety of landscape, culture, and lifestyle options. It boasts approximately 3,100 miles of coastline, the majority of which is beach. The hills of Northwest Spain are verdant, the temperature is humid and pleasant (similar to Oregon), and the shore is the cold but spectacular Bay of Biscay. Spain’s eastern coast and a portion of its southern coast are bordered by the warm seas of the Mediterranean, while the far-western portions of the country face the Atlantic. The country has a rich and old history, lovely castles, fantastic towns, beaches, mountains, many fiestas, and delicious food. Off-the-beaten-path Spain is a revelation: a courteous, satisfying, and traditional way of life that has survived despite modern intrusions.

The process for residence by investment in Spain generally takes 60 days, with no minimum necessary duration of time in the country to benefit from the privileges given, as long as the investor picks one of the following investment options:

  • A minimum of 500.000€ in real estate investment
  • A 1.000.000€ investment in Spanish company shares or business.
  • An investment of 2.000.000€ in Spanish government bonds
  • A 1.000.000€ money transfer into a Spanish bank account

Greece

Greece is a large, complex, and visually gorgeous country with sun-drenched islands, towering mountains, busy cities, and ageless customs. It is bright, inviting, and full of surprises, wrapped in the warm embrace of the Aegean Sea: it was the world’s first democracy, dating back to the 5th century B.C. Greece offers everything: beautiful weather all year, inexpensive lodging, delicious food, friendly inhabitants, and fascinating history. Every part of this country exudes relaxed livability, and the list of must-see destinations is endless: Athens, Crete, Delphi, Olympia, Santorini, Skiathos, Meteora, Rhodes, and Corfu are only the beginning.

The following are investment opportunities offered through the Golden Visa Greece program:

  • Buy real estate worth 250.000€: this property must be kept for the duration of residency and for a minimum of 5 years.
  • Lease real estate worth 250.000€, or a timeshare that must be kept for the term of the residency and for a minimum of 5 years

Residence by Investment Programs Compared

Eligibility for residence by investment differs in each country. Spain comes out as the most expensive among the three, at 500.000€, followed by Portugal at 280.000€. The most affordable is Greece at 250.000€.

In terms of qualifications, here is a list of who qualifies for residence by investment per country:

  • Spain: Primary Applicant, spouse, children under 18. Subject to additional criteria: unmarried children over 18 and financially dependent on the primary, dependent parents of the primary applicant.
  • Portugal: Primary Applicant, spouse, children under 18, unmarried children aged 18-25 and enrolled in full time study, parents of either spouse if over the age of 66 years old (or 55 and dependent), siblings under the age of 18 years from either spouse or partner if legally responsible.
  • Greece: Primary Applicant, spouse, children until 23 y/o, parents and parents in law

All three residence by investment programs allow applicants to live and study in the country. The residency obtained through investment allows individuals to work in Spain and Portugal, but not in Greece. In Spain, there are no visit or residence requirements to maintain residency, but if you want to apply for citizenship, you would have to stay in Spain for more than six months a year. In Portugal, you are required to stay within the country for seven days in your first year, and 14 days during each subsequent year. Greece, on the other hand, does not require applicants to stay in the country for residency.

Citizenship options

For citizenship in Spain, you may opt to be a permanent resident in five years. For applicants hailing from former Spanish colonies, citizenship may be granted after two years. Again, residing in Spain for more than six months in a year 6mo+1 day/year is required to obtain Permanent Residency or Citizenship, with a maximum absence of less than 10 months within five years. Those applying for citizenship must also pass a Culture Test and DELE A2 as proof of being a Spanish speaker. Individuals may also opt for Residence status indefinitely as long as they own a qualifying asset.

Portugal also offers Permanent Residence in 5 years, and citizenship in the following 5 years. Applicants must speak Portuguese and demonstrate involvement in the community. Meanwhile, Greece presents a possible road to citizenship in 7-12 years, subject to passing an interview in Greek. One may apply for Residence Status indefinitely if they hold a qualifying asset.

Real estate market

The buying process for real estate takes around two to four months in all three countries. However, in Spain, the Golden Visa is given in approximately one month and the Resident Authorization in two months after the Golden Visa. In Portugal, the Resident Card is received in 11 months, while Greece takes roughly the same time, between 6 to 11 months.

Due to Covid-19, it is not essential to visit Spain in order to get the Golden Visa. The Spanish government will issue a special visa to renew expired residence cards. Likewise, it is not required to travel to Portugal in order to apply for and acquire a Residence Card. In addition, the Portuguese government has halted the issuance of new visa appointments at this time. At the same time, special visas are being issued by Greek officials to people who need to travel to acquire or renew their residency cards.

In case you are looking to apply for a Golden Visa, our specialists at Orience International can advise you on investment choices suitable for you. Following that, you will submit the necessary legal papers as well as the residency application. After your application for residence has been reviewed and accepted, you will be awarded a residence permit that will allow you to enjoy the great quality of life that Europe has to offer.

Countless foreigners from everywhere in the world select Spain as their new home base from which to build their new enterprise or startup. The country’s major cities have evolved into some of the most prominent European centers for entrepreneurs. Obtaining a legal residency permit or a Golden Visa Spain is one of the most important prerequisites for continuing on this adventure. This article will cover the procedures you must follow in order to establish your firm and get residence in Spain. We will discuss the entrepreneur visa’s paperwork, criteria, and application procedure.

The entrepreneur Visa

The entrepreneur visa is a two-year residence permit that permits you to live in Spain if you establish a project in the nation that is in the general benefit of the Spanish economy. This is a residency permit designed for non-EU people who wish to launch a business in Spain. The Spanish immigration law will offer you residency based on your company concept if you meet specific conditions.

Your project must meet the following requirements in order to be accepted:

  • It must produce jobs for the country in the long run. Your project must produce new job opportunities and be a constructive boost to the Spanish economy.
  • It must generate profitable investment possibilities.
  • Its operational procedure must be technologically advanced and contribute to Spain’s socioeconomic growth.
  • Having patents, recommendation letters, or clients will improve the likelihood of your application being accepted.

On September 27, 2013, the Entrepreneur’s Law was issued. Its primary goal was to assist entrepreneurs in the process of starting a new business and expanding internationally. One of the primary benefits of any Golden Visa Spain received under this rule is that it may be obtained while in Spain. In contrast to the rest of the residence permits issued under general immigration law, it allows you to stay in Spain for two years with the option of renewing. Another significant advantage of this law is its quick turnaround time. After its inception in 2013, one of the major promises of this permit was to smooth the way for enterprises seeking to relocate to Spain.

It is simple to start a business and obtain residence in Spain. The major advantages of acquiring a Golden Visa Spain permit for entrepreneurs are as follows:

  • You will obtain a work permit without having to go through the complicated formalities of a standard work visa.
  • No upfront investment or capital amount required.
  • Although it is highly desired if your project produces jobs in the country, it is not a mandatory condition. This implies that if you begin your application on your own, the Commercial Office will not refuse it (with no other employee). This is also true for renewals: you can renew even if you did not recruit anybody else for the first two years.
  • Free travel inside the Schengen region
  • There is no need to travel to Spain for the application. You may simply choose a representative to apply on your behalf, eliminating the need for you to go to the nation in order to obtain your business licence.
  • The application may be submitted jointly. You can apply for a Spanish residency permit for your family if just one member of the family is launching a project. The startup visa is an excellent option for families looking to relocate to Spain. You may bring your parents, spouse, and children under the age of 18.

Obtaining a Startup Visa

Living outside of Spain

Assuming you have never resided in Spain and are presently residing in your native country, you will need to apply for a Spanish entrepreneur visa, which is a two-year permit. The documents you need to provide to apply for this are available here. You will have to send the file to the Spanish Embassy’s Economic and Commercial Office in your present country. After 10 days, you will be notified if your business plan has been approved or denied. Afterwards, you must apply for a visa in order to go to Spain, where you will receive your residency card.

Living in Spain with a tourist visa or residence card

If you are already legally residing in Spanish territory, you no longer need to apply for a visa. Instead, you apply directly for a residency permit. It is essential that you are not in an irregular status in the country. Otherwise, your application will be turned down. The necessary documents must be provided to the Large Business and Strategic Sector Units and you will have to wait 20 days for a verdict on the viability of your business idea. If you do not get a response within 20 days, your application will be considered approved.

If your application is rejected

If you filed your residence application and received a negative response, you can apply for a temporary residency visa and begin working as a self-employed worker. You will need your NIE number for this. It is a similar permit that lets you establish your own firm, but in this case, there is no requirement for the business to be creative. Another viable alternative is to invest in real estate in order to get residency under the Golden Visa scheme.

Requirements for a Startup Visa

There are three primary conditions you must satisfy in order for your application to be accepted, in addition to the general standards that apply to any sort of visa.

The first thing relevant authorities will look at is your professional profile, because your capacity to execute and develop your company idea in the actual world is just as vital as the business idea itself. Your CV should explain who you are, where you studied, what your profession is, and how your experience not only relates to your project, but how it can aid in its effective implementation. The more experience, expertise, and abilities you can demonstrate, the more likely you are to be approved. Possessing a degree or a master’s degree in a field linked to the main activities that will assist your startup’s growth is critical.

The business plan is a crucial document for your Startup Visa application, which must be submitted to the Commercial Office. The information from your business plan will ultimately decide your application based on how well you articulate the creative component of your company concept.

Your business plan must incorporate a market, product/service, and financial analysis as a whole. You must demonstrate that there is genuine market potential for your project’s success, that the product or service you want to sell is valuable enough for your target consumers, and that you have identified particular finance sources. You must include a financial estimate that includes the particular sources of money you will receive to ensure that your business will keep running smoothly.

The firm you establish to obtain residency must be something new, something that does not already exist in the nation, and something that would undoubtedly benefit Spain once it is established. Your business should add value to the Spanish economy, must have tremendous potential for both domestic and foreign investment, and be extremely creative.

General Requirements:

  • You must be a citizen of a nation that is not a member of the European Union.
  • The entrepreneur must be over the age of 18, the legal age in Spain.
  • A clean criminal record is required. This must be true for both Spain and any other nation during the five years before the application.
  • You cannot be in an irregular status in Spain at the time of your application.
  • The professional who is launching the firm must have health insurance with full coverage in Spain.
  • One must have sufficient funds for their family if they apply jointly. The primary applicant must pay 2.130€, and each family member must pay 532€.

Required Documents:

  • Application form
  • Passport
  • Proof of fees payment
  • Proof of financial capacity
  • Business plan
  • Approval of business plan

Renewing your entrepreneur visa

All of the conditions you met when you first applied must still be fulfilled. This implies that your project continues to benefit the Spanish economy and encourages the development of new jobs. Your entrepreneur visa will be readily renewed if your firm has a good forecast. This renewal will allow you to stay in the nation legally for another two years.

Spain is an ideal country to live, work or study but one has to have the necessary work and residence permits to do so.

Workers who are citizens of a member country of the European Union (EU) or the European Economic Union (EEA) or of Switzerland, do not need a work or residence permit.

Workers who are citizens of a non-member country of the European Union or the European Economic Union (EEA) then a work visa or European residence permit or EU Blue Card is necessary.  Without a work visa, a company cannot legally employ non-EU citizens.

The temporary visa

The temporary visa allows the holder to legally stay in Spain for more than 90 days but less than 5 years.  This european residence must be renewed every one or two years but only until five years after which the holder must apply for a permanent visa if the intent is to stay longer or indefinitely.

The temporary visa is usually given to work or service contractors like researchers, teachers and religious, senior management staff with contracts, seasonal workers, athletes, public entertainment artists, authorized foreign convicts, and cross border workers.

The permanent visa

After living in Spain continuously and uninterrupted for five years, the holder of the temporary visa can now apply for a permanent visa. This will allow the holder to work and live in Spain indefinitely.

If you are an entrepreneur or businessman, planning to set-up a business in Spain that is innovative, advanced technology and is aligned with the socio-economic interests of Spain, then the entrepreneurs  visa or the start-up visa may be the best option for you.

Spain work visas

The following workers can apply for the Spanish work visa:

Highly-skilled worker

To work in Spain as a highly-skilled worker, non-EU citizens have to find a job that has been classified as “shortage occupation”.  This means that there are no suitable candidates within the EU. The employer must the need to request for the work visa for the employee from the Ministry of Labor.

Seasonal workers

Seasonal workers need to show that they have suitable accommodation, travel costs are paid for, and  that they will return to their country once the job is finished.  The visas are valid for the duration of the work contract.  Employers of seasonal workers must request for the work visa from the Ministry of Labor.

Self-employed and freelance workers

Self-employed and freelance workers must apply for a work visa at a Spanish consulate or embassy in their home country.  The work visas are valid for one year but can be renewed if all the conditions are still met.

Eu blue card

The EU Blue Card is for people who spent at least three years completing a higher education qualification which allows them to work as a skilled professional.  Professionals who have a minimum of five years work experience at a high managerial level are also eligible.  The employer must submit the EU Blue card application on behalf of the applicant.

A work contract that includes a salary that is 50% more than the average salary in Spain or at least 20% more if the skills are in demand is a requirement.  The EU Blue Card is valid for only one year but is renewable as long as the conditions are still met.

Au pairs

An au pair must be between 17 and 30 years old, must show the contract agreement with the host family and must include the salary and conditions, must show proof of sufficient finances to self-support and must have medical insurance.  Visas for au pairs are only valid for one year but is renewable as long as conditions are still met.

 

Now is the best time to enjoy your Golden Visa now that Spain is open to tourists again. With your Golden Visa, you can travel anywhere in Spain and enjoy 3,000 hours of sunshine all throughout the year.

Here are the ten best beaches in the different parts of Spain. You may just fall in love with the place and may decide to buy property in the area. Your Golden Visa Spain will allow you to do just that.

  1. Playa de Ses Illetes, Formentera

Formentera is the smallest of Spain’s Balearic Islands in the Mediterranean Sea. The Playa de Ses Illetes (The Beach of Small Islands) is located in the peninsula of Es Trucadors in the northern part of Formentera Island. The sand there is almost pink and is simply a mix of fine white sand and coral residue. The small islands are Illa des Ponent, Illa de Tramuntana, Escull
des Pou, Illa Rodona, Escull d’ en Paia, Raco des Palo and the most famous, Espalmador.

The deliberate absence of umbrellas and sunbeds for rent and man-made structures make these beaches ideal to visit although they are not without people. Entrance and exits to the beach are monitored and limited to a specific number of people. Transport to the beach is controlled to minimize pollution. From Ibiza, it is a ferry ride away. Windsurfing, kitesurfing, sailing, stand up paddling or snorkelling are some of the activities allowed on Playa Ses Illetes.

  1. Calla Macarella, Menorca

golden visa spain

Menorca is one of Spain’s Balearic Islands in the Mediterranean Sea. Calla Macarella is a horseshoe-shaped cove set in a deep rocky inlet of limestone hills covered in pine trees. The limestone hills are dotted with caves, hollows and cavities that continue underwater.

Snorkeling is therefore a favorite activity in Calla Macarella. The beach does not get too crowded because of its remoteness and has facilities like lifeguard services, toilets, showers and a good restaurant by the white sand beach. Marcarelleta is smaller beach on the next cove.

3. Cala Aiguablava, Cataluña

golden visa spain

Aiguablava means blue water in Catalan. This small beach is surrounded by cliffs and pine forests that are reflected in the clear turquoise water of this small cove. It is a popular mooring place for sail boats and yachts and has lots of seafood restaurants to choose from.

  1. Playa de Papagayo, Lanzarote, Islas Canarias

golden visa

The golden sand beaches of Punta Papagayo stretch out for miles and are located in the Los Ajaches Natural Park and can only be reached on foot or by bicycle from the tourist town of Punta Blanca.

  1. Playa de La Concha, San Sebastian, Basque Country

playa de la concha

This scallop-shaped beach is located right in the city of San Sebastian and one of Europe’s best city beaches. It is also perfect for families with lots of activities for everyone including many excellent restaurants to choose from. After all, San Sebastian is one of the gastronomic hotspots of Spain.

  1. Calo d’es Mort, Formentera, Balearic Islands

golden visa

This beautiful cove is an inlet located in the easternmost part of the Migjorn Bay that has the calmest bright blue waters.

  1. Playa de Torimbia, Llanes, Asturias

golden visa

This tiny cove is located near the town of Llanes and is surrounded by cliffs full of vegetation which gives it an air of privacy.

  1. Playa de los Genoveses, Almeria, Andalusia

best beach spain

This beach is found in the Cabo de Gata Natural Park and in a bay of unequaled and cinematic beauty that has been the setting of many films.

Sand dunes of fine golden sand dotted with prickly pear and pita plants stretch for miles.

  1. Playa de las Catedrales, Ribadeo, Galicia

golden visa spain

This beach near Ribadeo is best known for its Gothic-like towering rock formations that the waves of the Atlantic have formed into arches and chambers that are best appreciated at low tide. To access the beach in summer, it is necessary to make a prior reservation.

  1. Platja des Coll Baix, Mallorca

buy real estate mallorca

Platja des Coll Baix in Mallorca is only accessible by boat or on foot through a lovely forest. This hiking trail is full of beautiful wild flowers and is perfect for bird watching. This crescent shaped beach sits below a sheer, wooded cliff that looks out to beautiful turquoise waters.

The Golden Visa Spain has several investment options:

  • minimum investment €500,000 in real estate
  • €2,000,000 capital investment in Spanish Public debt or;
  • €1,000,000 investment in shares in an existing Spanish company with real activity or;
  • €1,000,000 deposit in a reputable Spanish bank or fund

A minimum investment €500,000 in Spain will not only buy you a prime real estate property but also the freedom of movement throughout the European Schengen area, excellent healthcare, world-class school and universities including the two if the best business schools in the world, a healthy lifestyle that is based on the Mediterranean diet and a relaxed, unhurried pace of life.

 

Admittedly, the real estate market in Spain, Portugal and Greece has been badly battered by the Covid-19 pandemic. But as the Chinese proverb says, “In every crisis there is opportunity” and this is the perfect time to buy real estate and obtain a residence-by-investment visa in countries like Spain, Portugal and Greece.

According to Reuters article dated March 3, 2021, investors are confident that the real estate market will weather the corona virus pandemic, even believing that real estate returns will do better than equities and bonds. At the moment, according to JP Morgan, global bonds are paying below zero yields while real estate continues to pay annual yields of 3 to 4%. Buy real estate continues to be a good hedge against inflation which is expected to rise in the next few years thanks to the stimulus campaigns of many governments and central banks to help their citizens through the economic crisis brought about by the pandemic.

European real estate market

Europe’s residential market will remain a sought-after investment for global capital with its rising affordability and where the buy-to-rent scheme is still lucrative and possible through the Golden Visa programs.

In Madrid, price levels have fallen by about 5% especially for second-hand homes. Income from short-term and vacation rentals have all but disappeared. The good news is that these properties can be re-listed as long-term leases according to market demand.  Madrid is presently a seller’s market but the forecast is that in the next 6 months it will be a buyer’s market.  Property experts’ advice is to hold on to property until things have stabilized.

Demand for residential property rather than office or warehouse space has soared particularly in the suburbs and rural areas. Interest in larger properties with more green spaces has increased.

In Portugal, properties in Lisbon have experienced a 3% drop in 2020. However, the real estate market is resilient, sustained by foreign buyers who accounted for 35% of all property investments. In Porto and Algrave prices continue to climb by 4% to 12% respectively. It is safe to assume that this will continue in the long term.

The Greek real estate market has proven to be resilient despite its economic woes and the Corona-19 virus pandemic. It continues to be a buyer’s market and is all set to rebound in the post pandemic era with the positive momentum from foreign buyers still a major factor in Greece’s economic recovery. Real estate prices in Greece are still relatively cheap compared to Spain, France and Italy and property developers are confident that real estate prices will go up in the next five years as the demand remains strong.

This present scenario is the perfect time to buy real estate and obtain a residence-by-investment visa that Spain, Portugal and Greece are offering.

The Spanish Golden Visa

The Spanish experience and lifestyle can be yours through the Spanish Golden Visa for a minimum investment of €500,000.

Benefits of Spanish Golden Visa:

  • The right to live in Spain, a member of the European Union
  • Visa-free travel throughout the European Union
  • Visa-free travel to 185 countries
  • Available for you and your family
  • No minimum stay requirements
  • Excellent educational system

The Golden Visa Portugal

The Portuguese experience and lifestyle can be yours through the Golden Visa Portugal for a minimum investment of €280,000.

Benefits of a Golden Visa Portugal:

  • The right to live in Portugal, a member of the European Union
  • Visa-free travel throughout the European Union
  • Visa-free travel to 185 countries
  • Available for you and your family
  • Residency requirements only 7 days in the first year and 14 days in the 2 years after obtaining residence permits
  • Excellent educational system

The Greek Golden Visa

The Greek experience and lifestyle can be yours through the Greek Golden Visa for a minimum investment of €250,000.

Benefits of the Greek Golden Visa:

  • The right to live in Greece
  • The entire family is eligible
  • Visa-free travel to Schengen zone
  • Good quality of life
  • High standards of education
  • Free and equal access to the Greek Healthcare System
  • Approved within 60 days and does not require the applicant to live in Greece.