Sponsored briefing: Overview and background of Turkey legalbusiness.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from legalbusiness.co.uk Daily Mail and Mail on Sunday newspapers.
35 Shares
Residence by investment programmes are available in several EU countries. These programmes grant visas in return for investments in specified areas. Drawing on a new study,
Kristin Surak
examines the uptake of these programmes across the EU, the characteristics of applicants, and the nature of their investments.
Who wants to buy a visa? The spread of so-called golden visa programmes over the past decade has raised many questions about these opportunities to gain a residence permit – for those who can afford it. All one needs to do is park around €250,000 or so in a specified investment area – usually real estate, bank deposits, or government bonds – and go through a standard application process, which can take just a few weeks. Spouses, children, and sometimes even parents can be included on the application, securing residence benefits for the whole family. Such programmes can be found around the world and are quite common in Europe, where half of
Golden Visa: What To Consider When Choosing The Ideal Location For Overseas Property Investment
Advertisement
According to the Portuguese Immigration and Borders Service, 8,829 out of 9,389 investors obtained residency through property investment. The data belong to the years between 2012 and 2020.
Similarly, Enterprise Greece declared that 8,011 investors obtained residency in Greece through investment. The data belong to the years between 2013 and January 2021.
Most of these investors chose to buy property to get residency in these countries. What are the reasons behind their attraction? Let’s discover more.
Affordability: Golden Visas offer low-priced properties
The Golden Visa programs in Greece and Portugal offer affordable real estate compared to most of Western Europe.