World
India
Golden visas, or “residence by investment” programs, grant temporary or permanent residency to individuals who invest in a country, often through property purchases, business ventures, or direct financial contributions. These visas can serve as a strategic backup, allowing greater mobility without requiring full-time relocation.
Who Seeks Golden Visas?
Citizens from Russia, China, and the Middle East frequently opt for golden visas to secure residency in Western Europe or the U.S. However, law enforcement agencies raise concerns about money laundering and corruption risks associated with these schemes.
Portugal pioneered its golden visa program in 2012, requiring a minimum investment of €500,000 ($557,000) in property, later reducing it to €350,000. Greece, Spain, and Hungary followed suit in 2013, granting residency in exchange for real estate investments. These visas not only offered residency but also permitted free movement within the EU and, in some cases, a pathway to citizenship.
Hungary, after shutting down its program in 2017 due to corruption concerns, relaunched a revised version in 2024. The new scheme requires either a €250,000 investment in local funds or €500,000 in real estate for a renewable 10-year residency.
However, security concerns have led several countriesincluding the UK, Ireland, the Netherlands, Greece, and Malta—to either discontinue or tighten restrictions on these programs. Meanwhile, New Zealand recently eased its golden visa rules to attract wealthy investors and boost its post-recession economy.
While golden visas offer residency, some nations take it further by granting citizenship through “golden passports.” By making a substantial investment or government contribution, foreigners can secure full citizenship. In Portugal, golden visa holders may apply for citizenship after five years.
Former U.S. President Donald Trump announced plans to replace the EB-5 investor visa with a “gold card” that would offer green card privileges and a pathway to American citizenship for a $5 million investment. While details remain unclear, Trump positioned the scheme as a way to attract wealthy individuals to the U.S.
Also Read: Stocks in Focus Today: Tata Power, Adani Green, Airtel, UltraTech, Key Market Movers on February 27
