By Varun Singh

Golden visa programs are a type of residence-by-investment scheme that allows foreign nationals to obtain a long-term or permanent residence permit in exchange for a certain amount of investment in the host country. These programs are attractive for many investors who seek to diversify their assets, access new markets, enjoy a better quality of life, or secure a second citizenship.

However, not all golden visa programs are created equal. Depending on the investor’s profile, preferences, and goals, some programs may offer more benefits and advantages than others.

How to Choose a Golden Visa Program?

There is no one-size-fits-all answer to this question, as different investors may have different preferences and objectives. However, some of the factors that may influence the decision are:

Budget: The minimum investment amount required by different golden visa programs varies widely, from as low as €250,000 to as high as €2 million or more. The investor should consider their financial capacity and risk appetite when choosing a program that suits their budget.

Return: The return on investment (ROI) of different golden visa programs depends on various factors, such as the type and location of the investment, the market conditions, the tax regime, and the exit strategy.

Duration: The duration of the golden visa program refers to how long it takes to obtain the residence permit, how long it is valid for, and how long it takes to renew it. Some programs offer fast-track processing and long-term validity, while others may involve lengthy procedures and frequent renewals.

Mobility: The mobility benefits of different golden visa programs depend on the host country’s international relations and agreements. Some programs offer visa-free or visa-on-arrival access to more than 100 countries worldwide, while others may have more limited travel options.

Citizenship: The citizenship prospects of different golden visa programs depend on the host country’s naturalisation laws and policies. Some programs allow the investor to apply for citizenship after a certain period of residence (usually 5 to 10 years), while others may not offer this option at all.

Best-kept secret of Golden Visas

It’s not just about the capital; it’s about innovation and technology. Golden Visa programs have expanded to embrace individuals who bring a fresh perspective and expertise in these areas. In 2024, the focus is not only on attracting investment but also on inviting individuals who can contribute to a country’s growth through innovation.

One of the best-kept secrets is that Golden Visas can be obtained without a significant investment. However, to benefit from this opportunity, one must meet certain qualifications. In 2024, it is essential to spread awareness about this aspect of the program. The Golden Visa is not just about wealth; it’s about skills, experience, and expertise. The race for tech talents by immigration visas is heating up in various countries, including the UK, Australia, New Zealand, and the USA.

Alternative Options to Secure Golden Visa

Besides investing in a golden visa program, another way to secure a residence permit or citizenship in a foreign country is to apply for a talent visa or a startup visa. These are special types of visas that target skilled professionals, innovators, entrepreneurs, and founders who have the potential to contribute to the host country’s economy, society, and culture. Many European countries offer talent visas and startup visas for foreign nationals who want to work or launch a business in their respective tech ecosystems.

For example, France has the French Tech Visa, which is a simplified, fast-track scheme for non-EU startup founders, employees, and investors to obtain a residence permit for France. Estonia has the Estonian Startup Visa, which is aimed at tech-driven startups that solve big problems, disrupt industries, and serve millions of people. The UK, Australia, New Zealand, and the USA also have various talent visas and startup visas that compete for tech talents by offering immigration benefits.

(Author is MD, XIPHIAS Immigration)