What is a Golden Visa & How Does It Work?

A Golden Visa is an immigration programme offered by many countries to attract foreign nationals with high net worth. Individuals who want a Golden Visa need to invest in a foreign country, usually by buying property, government bonds, etc.

With a Golden Visa scheme, you can live, work and study in the country. After living a few years on a Golden Visa, you also have the opportunity to become permanent citizens of the country.

However, to acquire the best Golden Visa, applicants need to meet the eligibility criteria set by the country. The Golden Visa requirement may vary from country to country.

The Golden Visa scheme offers a pathway to residency for a diverse range of individuals:

• Entrepreneurs
• Foreign Investors
• Outstanding Students and Graduates
• Exceptional Talents

To obtain a Golden Visa, applicants first need to meet the eligibility criteria, which may vary from country to country. Some of the general criteria for Golden Visa applications are:

Investment Amount

One essential criterion for the Golden Visa scheme is meeting the investment requirement set by the country's immigration authorities. Applicants need to have sufficient funds to invest in real estate, government bonds, businesses, etc.

Clean Criminal Record

A prerequisite that applicants must adhere to before they are eligible to apply for a Golden Visa is maintaining a clean criminal background. Several countries require the candidates to undergo background checks to show that they have a clean legal record.

Proof of Funds

To apply for a Golden Visa, applicants need to present proof of funds, bank statements, and other proofs to showcase that their money comes from a legitimate source. This will help establish that the applicant has enough funds to get a visa.

Language Proficiency

More countries that grant Golden Visas to foreign investors and entrepreneurs have language proficiency requirements. Simply put, candidates will have to be fluent in the language of the country.

Minimum Stay Requirement

Another common requirement for Golden Visa services is that applicants must fulfil the stay period in the country before getting permanent residency, which may vary from country to country.

Also Read: What Is UAE Golden Visa, And Who Is Eligible To Apply?

The workings of a Golden Visa are straightforward. Applicants who want to acquire a Golden Visa for a particular country first need to understand the eligibility requirements. This typically includes making a qualifying investment in real estate, government-approved funds, a business, or through a contribution to national development.

After selecting the right investment option and preparing the necessary documents, such as proof of identity, a clean criminal record, and a legal source of funds, the applicant submits their applications.

After the investment is approved and finalised, the applicant and their immediate family are issued a residency permit, permitting them to reside in the country.

For residency to be maintained, the applicant must continue to satisfy certain conditions,
including retaining the investment for a minimum period. Depending on the country's specific policies, this residency may be followed by permanent residency or even citizenship over time.

Also Read: Permanent Residency in UAE for Indians

Individuals and families who hold a Golden Visa can have numerous advantages. Some of them are listed below:

Legal Residency and Rights

One of the essential benefits of getting a Golden Visa is that it offers legal residency rights to individuals and their families. By holding this card, you can freely live, work and study in the host country.

As legal residents, visa holders are entitled to basic rights and legal protections under the host country’s laws. This includes access to courts, property ownership rights, and protection from arbitrary expulsion.

Business and Career Opportunities

With the Golden Visa, applicants are also eligible for new business and career opportunities in the host country. This is especially appealing for business owners who have the financial means and qualify for the capital requirements established by the government.

Starting a new business or expanding an existing one not only allows Golden Visa holders to build their wealth but also generates jobs, thus fostering the local economy.

High Quality of Life

For those seeking to leave behind political turmoil, steep taxes, or lack of opportunity in their home country, a Golden Visa can provide a second chance at a more secure and satisfying life. These are nations with world-class, free healthcare and singular education systems and a fairly high, stable quality of life, with low crime rates.

Educational Opportunities

Another benefit of acquiring a Golden Visa is that it offers opportunities for a better educational system. Over the years, many countries with Golden Visas have also been home to top-class educational institutions and universities.

This makes this visa particularly attractive for families hoping to provide their children with a world-class education in a safe and nurturing environment.

Citizenship Options

Although Golden Visas typically grant residency rights at first, most countries that offer them offer the option to apply for permanent residency or citizenship.

This option is particularly appealing for those looking for the benefits of a second passport, including freedom of movement, job and study opportunities, and the right to vote.

Here are the details of the countries that offer Golden Visa services.

Also Read: USA Citizenship for Indians

The process of applying for a Golden Visa for a country is straightforward. Here is how you can apply for a Golden Visa.

Step 1: Choose a Country

The first step is to acquire a Golden Visa service and choose a country. Various countries offer Golden Visas. Choose the one that matches your financial investment and business requirements.

Step 2: Meet the Eligibility Requirement

Each country has its laws and regulations regarding Golden Visas. So, before starting the application process, make sure you tick all the boxes. This will help to ease the Golden Visa application process.

Step 3: Gather All Required Documents

After confirming that you meet the eligibility criteria, you should gather the necessary documentation, such as passports and financial documents from the country; you may have to provide additional documentation, such as marriage/birth certificates and notarised translations.

Step 4: Make an Investment
Once all the necessary documents have been prepared, the next step is to make the qualifying investment in the host country. This can mean buying real estate, launching or investing in a business, etc.

The investment must take place through official and legally recognised channels, and the transaction should remain transparent, traceable, and fully compliant with the host country's laws.

Step 5: Complete the Application

Once you have invested, you can initiate the Golden Visa application process by using the country’s official immigration portals.

First, fill out the Golden Visa application form and upload all the necessary documents for the application. Ensure that all data entries are verified and all the documents are in proper format and size.

Step 6: Complete Biometrics and Interviews

Applicants can also be required to submit biometrics such as photographs and fingerprints at the visa immigration centres. Immigration officials often conduct a visa interview to verify the documentation submitted.

This interview also ensures that all the documentation submitted are accurate and that the applicant truly intends to live or invest in the intended host country.

Step 7: Wait for Approval

After the Golden Visa application is submitted, the immigration authorities check the applicant’s documentation and form.

They decide whether to approve or reject the visa request. Once the application is approved, the applicant is issued an official residency permit, which allows them to live legally in the host country.

Also Read: Canada Citizenship for Indians

The cost of a Golden Visa may vary from country to country and also depends on the type of investment you are making and the different requirements based on the country. The overall cost is broken down into several primary components.

The largest part is the investment could be real estate, government bonds, a business, etc. In addition to the investment itself, applicants are also required to pay visa application fees and legal fees.

Applicants also need to pay additional costs such as property tax, notary fees, translation fees, etc. It is best for an applicant to consult with a reputable immigration advisor to clarify the total cost upfront. This can help avoid any unexpected charges that may arise during the application process.

A Golden Visa is a great opportunity for individuals or business owners to get residency in a country through investment. The Golden Visa programme offers opportunities for high-quality education, healthcare, business growth, and even a potential pathway to citizenship.

In addition to a Golden Visa, travellers should also consider investing in international travel insurance while visiting a foreign country. Travel insurance online helps safeguard travellers' financial assets against unforeseen emergencies such as accidents, illnesses, flight delays, etc.

When it comes to purchasing the best travel insurance, we at TATA AIG offer plans that are customised based on your unique travel needs. For instance, for frequent travellers such as business owners, entrepreneurs, etc., we offer multi-trip travel insurance plans that cover multiple trips throughout the year.

Under this travel insurance plan, you can get coverage up to 180 days per trip. Secure your trip with our affordable travel insurance plans, starting at ₹24.8 per day.

Also Read: Annual Multi Trip Travel Insurance

Does India give Golden Visa?

India does not currently have a Golden Visa programme. It does not offer residency or citizenship through investment but offers several long-term visa options, including Employment Visas and Business Visas.

Can I renew my Dubai Golden Visa?

Yes, you can renew your Dubai Golden Visa. The renewal process is typically simple, assuming you still meet eligibility criteria, such as having a qualifying investment, holding a valid passport and following through on UAE residency regulations.

Is it possible for a Golden Visa application to be rejected?

Yes, a Golden Visa application may be denied if an individual fails to meet eligibility requirements, submits incomplete or fraudulent documentation, or does not demonstrate the lawful source of funds of investment.

In addition, they have strict due diligence practices in place in each country to comply with its laws and regulations.