Advantages of Golden Visa in Cyprus, Spain and Ireland

Contributed by BridgeWest, 21 July, 2017

Moving to another country has become easier in the last years as many states introduced various programs which allow foreign citizens to relocate. Of course, these programs have certain conditions for the foreigners seeking to immigrate, however their advantages outweigh the requirements.

European countries are champions at enabling residency and citizenship programs and three of these countries are Cyprus, Spain and Ireland. These schemes are generically called Golden Visa programs and in each of the state mentioned above they come with many advantages. Below, we will take a look at what the benefits of the Cyprus, Spain and Ireland Golden Visa programs are.

Why move to Cyprus through the Cyprus Golden Visa program?

The answer to that question is relatively simple: the Cypriot Golden Visa scheme allows foreigners to acquire residency or citizenship by investing in Cyprus. However, there is more to it than that. You should know that one of the greatest benefits of the Golden Visa program in Cyprus is that it takes no more than 3 months to obtain the residency visa. Then, you can also bring family members with you. By that we mean that apart from the spouse and children, who can be up to 28 years old by the way, you can also bring parents or parents-in-law through the program. Speaking of children, the residency obtained through the Cyprus Golden Visa program can be passed along to your heirs, as it is granted for life. You don't even have to live in Cyprus if you obtain the visa, however you are required to visit the country every year.

The Spanish Golden Visa program offers pretty much the same advantages as the Cypriot one

If you think Spain is a better relocation option, then you should know that you can become a Spanish permanent resident or citizen if you have lived here for five, respectively ten consecutive years under this program. If you only want a residence permit, you can easily acquire it through the Spain Golden Visa scheme if you buy a property here. You can also bring family members along to Spain and all of you will have the freedom to move in the EU Schengen area without any restrictions.

Another advantage of the Spanish Golden Visa program is that it does not impose you to live in the country. If you take into consideration the fast government process and the low fees related to obtaining the residence visa, Spain could be an ideal destination for you. As for the property, you can sell it after five years.

The Irish Golden Visa program is a bit different

And by that we mean that the Golden Visa program in Ireland is divided based on your status. You can apply for a residence permit as an entrepreneur, as an investor or a highly-qualified worker. As an investor, you can also obtain am Irish golden visa through your foreign company, but there are a few additional requisites attached to it. As a matter of fact, the requirements are different for each category of applicants, so it wouldn't be a bad idea if you consult an Irish law office specialized in immigration matters before deciding in what quality you will apply for a golden visa.

We only treat here the advantages of the Ireland Golden Visa scheme and speaking of them, you should know that this permit will be first issued for 2 years with the possibility of renewing it. First, you can renew it for 3 years and then for 5 years. You don't need to live in Ireland if you have obtained residency under the Golden Visa program, however you must visit the country once a year. And, as in Cyprus and Spain, you can also bring family members in Ireland through the Golden Visa scheme.

Now that you know the advantages of the Cyprus, Spain and Ireland Golden Visa programs, it is up to you to do your homework and choose the one which suits you best.

Tags: Europe | investment | Cyprus | Spain | Ireland | law | fees |



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