The Golden Visa programme allows non-European citizens to get residency through an investment. If you are from Philippines, the best way to obtain the residency permit is making an investment in Spain, Portugal or Greece since these European cities offer one of the most advantageous programs.
Among the most important benefits of the visa we can see that it doesn’t require to stay in the country (more than 183 days), this means that it’s only necessary visiting the country a few times. Furthermore, you can get free movement throughout the Schengen area where there are no restrictions for exportations and importations between European countries.
With all of this, the European Union has received in the past years more than 6.000 new citizens and 100.000 new residents, most of them attracted because of the Golden Visa advantages.
MAIN CHARACTERISTICS OF THE THREE PROGRAMS
In the case of the Golden Visa Spain, one of the main requirements to apply is to make an investment of 500.000 euros in real estate assets. The program is part of the ‘Law 14/2013 of support for entrepreneurs and their internationalization’ which also includes the residence for those who made other type of investments.
On the other hand, the Portuguese program has become one of the most popular options for Philippine’s investors. The investment that has to be done it’s the same price as the Golden Visa Spain; 500.000 euros. It is important to remember that, in order to maintain the residence permit, the investor must retain the real estate property that he acquired at the time.
Finally, the program in Greece, launched in 2013, offers a lower price than Spain or Portugal. The initial investment is 250.000 euros. This figure is the second lowest in the European Union and the fifth cheapest in the world.
GOLDEN VISA SPAIN
The use of gold visas in Spain is getting more popular every year. In fact, Spain has broken the record number of visas in 2018 for the fifth consecutive year. Approximately, 45% of luxury homes purchased by non-EU it has been used to obtain a residence permit. Besides this, more than four in then buysales of homes above 500.000 euros also ended with the grant of a Golden Visa.
If you are from Philippines and want to obtain the visa, you have to make at least one investment in Spain (500.000 euros), be over 18 years old, be a foreign investor, present a criminal record certificate, have the necessary resources to face the expenses during your residency and have a public or private insurance.
DIFFERENT WAYS TO GET THE GOLDEN VISA
As it has been said, the first requirement is to invest a minimum of 500.000 euros in a property for residential or commercial use. However, there are also other actions inside the real estate investment residence law:
- Acquire an amount of 1 million euros or more in equity or shares in national companies.
- Maintain bank deposits that reach the amount of 1 million euros.
- Make investments in order to buy Spanish public debt of 2 million euros or more.
- Make an investment for the establishment of companies oriented to scientific and technological innovation whenever they have an economic interest for Spain.
The Golden Visa Spain was born withing the framework of the Law to Support Entrepreneurs and their Internationalization. With the intention of promoting and incentivizing foreign investment in Spain, Law 14/2013 was enacted; a real estate investment residence law.
The law establishes the different immigration benefits that a foreigner can obtain by making a significant capital investment in Spain. It is thought to be for investors, entrepreneurs, highly qualified personnel, R&D&I training and intra-enterprise transfer.
GOLDEN VISA PORTUGAL
Portugal is one of the cheapest real estate markets in Europe with a strong growth rate of about 13% per year. That’s why Portugal is attracting so many Philippine’s investors, besides, the high profitability in the real estate market. In fact, real estate can grant an annual capital growth rate of around 7% and touristic renting can even have a higher rate.
With the Golden Visa Portugal, international investors have permanent free entry and movement through the Schengen Area. This means that investors will be registered with the Schengen Area central system which allows them to enter all European countries without having an additional visa.
BENEFITS OF THE PROGRAM
First of all, the investor only needs to spend seven days in the first year in Portugal to get the visa or citizenship, so it’s possible to obtain it without actually live in the country. What’s more, there is the option to become a non-habitual resident of Portugal and pay a little tax for 10 years.
Secondly, the program is not blacklisted by the Organisation for Economic Co-operation and Development and there is the option to apply for the Portuguese citizenship. Besides this, other benefits are: access to Portuguese healthcare and European education system and transfer the investor’s benefits to his relatives.
GOLDEN VISA GREECE
Investment opportunities in Greece have become attractive available in sectors like travel and tourism, defence and aerospace, maritime, agricultural products and renewable energy. Additionally, Greece has an upper hand on human capital, advanced infrastructure and is currently a country with a great potential for rejuvenating its economy.
Investors from Philippines are looking for the best cities in the world to generate a good ROI (Return on Investment), and Greece has become surprisingly an attractive option. Prices in Athens seem to be a good selling point for these investors.
REASONS TO INVEST
As well as Spain and Portugal, Greece is also a member of Schengen Area, so you will be entitled to enjoy the privileges of traveling freely within the Schengen zone without the custom’s checks and traveling also from Philippines to any Schengen zone.
It has to be taken into account that Greece has the support from several world-class institutions, such as the IMF, the European Commission or the European Central Bank. Furthermore, the budget deficit has been declining and is being kept below 3% of GDP.
Not only this, the communication in Greece is though English language so there is not going to be any complication about communicating with customers, which is an important aspect of a healthy business.
¿Are you from Philippines and want to invest in Spain, Portugal or Greece?