January is the time when we start thinking about new beginnings, and for some that means moving to a different country.
The pandemic has changed the way we live and work in the long run, with more jobs than ever before permanently moving online. We’re also looking forward to traveling again months later restrictions and canceled plans.
This group can have you looking to completely change your surroundings by living abroad. And for people in the UK and North America, a golden visa may provide a way to find a destination that best suits their future plans.
What is a golden visa?
A golden visa is an immigration program that allows you to obtain a residence permit or even citizenship of a country by buying a home there or making a relatively large investment or donation.
Different countries have different investment requirements which range from around €250,000 to millions – which means it’s only available to wealthy individuals.
If you meet the requirements and apply for a golden visa, you and your family will become legal residents of the country. It can eventually lead to citizenship as well, but the path to get there varies with different schemes and can be difficult or long.
Open to non-EU citizens, it has gained increasing popularity in recent years in the European Union where a golden visa can also lead to other benefits including freedom of movement in the Schengen area.
It is estimated that the programs currently attract approximately 3 billion euros of investment to the European Union each year.
The ‘Golden Visa Craze’ in 2022
According to a leading investment advisory firm, 2022 could be the year of the Golden Visa as many tired individuals and families look forward to it. Change the way they live.
Says Murat Coskun, Founder and Managing Partner of Get the golden visa.
“We think 2022 will be the year of the golden visa craze, as people come up with a backup plan for how and where they want to live.”
The company adds that the main drivers for people to seek secondary residency or citizenship include the increase in remote work, Britain’s exit from the European Union, and the poor response to the pandemic in their country.
The desire to escape from the hustle and bustle of city life also drives people to search for a destination that is more suitable for their needs.
“We’re seeing a tidal wave of people wanting to reconnect with nature and have space around them to live and work,” Coskun adds.
The most famous countries to obtain golden visas
The attractiveness of the spacious properties made the natural surroundings on the coast Greece Portugal is a popular destination for investors, according to Coscon.
Portugal It has become one of the best places in Europe to get residency through investment after exceeding 10,000 applications as of 2021. High vaccination rates and tax breaks for crypto earnings are listed as some of the reasons why the country is a desirable location to live in.
Greece comes right behind Portugal with around 9,500 applications for golden visas at the end of last year. After the real estate market boom, more and more homes are being built here. This, along with tax incentives for high net worth individuals, means that it has become a popular place for those looking to invest in real estate.