Different countries have different rules and are not the same. This statement seems obvious at a first glance, but what this implies is very important. Different countries may have different taxes and different ways of handling businesses. Even though you might ask yourself, what is the big difference, what can be so different here compared to the US? Listing all of the differences can be quite long, but there are some key differences that are pretty easy to catch on.
Europe, specifically the European Union, is very unique by its Schengen zone, for example. Doing business in such a place comes with many benefits that attract more and more people to invest here. That is one of the reasons why this region is very developed and keeps on growing. That is why many people seek European residence, and you should get a brief overview of how you can get it by investing.
If you are a wealthy foreign nationalist, one of the easiest ways of getting a visa is through this type of program. It works pretty simply, you apply for a program that suits your desires the best, you invest a certain amount of money, and in return you get citizenship. Depending on which country’s golden visa plan you sign up for, there are different requirements and benefits.
One of the main benefits is that not only do you get the residence but also your spouse and children are eligible for it. By taking a look at the advantages of the Portuguese golden visa program, it is quite noticeable that it does not charge tax on worldwide income. This is very helpful because as a foreign investor most of your revenue does come from elsewhere and there will be no need to lose that money. Not only that, Portugal does not have any stay requirements to get a permanent residence.
How much do you need to invest?
Answering this question does require doing research on each country itself. Prices can go from just around €31000 to a few million euros. Not only that, depending on how much you invest, you will get different types of citizenship. For example, if you invest €31000 in Malta, you will get 1-year citizenship that needs to be renewed. But if you invest €80000 you can get permanent residence in about a half a year after investment.
Also, investment does not mean just spending money on anything in the country where you are applying. It means specifically investing, be it real estate or business. So be sure to check what the program implies by investing before you go spending a lot of money that can go down the drain real fast.
What to expect when investing?
Many people fear investing in the EU because it seems very old-fashioned. Not only is it old-fashioned, but it did suffer from many drawbacks. The financial fiasco that happened with Greece has left many investors worried. The EU handling of the vaccination, in the beginning, was also not the most successful.
But the question is, which continent did not have its problems? What about the great depression and the recession of 2008? Or the current crisis with Evergrande in China? By only nitpicking the negatives, you will not gain anything. Europe offers many new opportunities in every sector that you can think of and many of them are quite promising, you just need to take a look by yourself.
What are the benefits of this type of residence?
As it has been established, it is perfectly legitimate to get European residence by investing. It is not complicated at all, and if you have the means to do so, you will be rewarded with many benefits. This kind of citizenship is the same as any other kind and does not come with any additional downsides.
One of them of course being free movement in the Schengen zone. This means that if you get let’s say Portuguese citizenship, you will be free to travel to any other country in the zone without a visa. Otherwise, you would be able to travel but only for 90 days without a visa. That also means that conducting business will not be strict to not only the country in which you reside. You can see in the example of Brexit how much Great Britain has lost from not being able to get the workforce from elsewhere in Europe without any limits.
Your family members are also eligible
It has been mentioned before that even the rest of your family is eligible if you invest. In almost every case, they do in fact get this citizenship and all of the other benefits. One of the great benefits is that your children can easily get educated in the countries of the European Union. The universities in these countries are ranked very high in the Shanghai list and represent some of the world standards of how universities work.
Unlike in the US, you will not have to pay out for their education, in most cases that is. European universities often offer joint programs for their master’s and Ph.D. studies. That means that they not only get plenty more experience in the field where they are studying but also get very strong diplomas that prove so.
As is the case with many things in life, with money, you can get many things. One of these things is a very powerful residence in Europe. It is possible to acquire it through investment and with only minimal other requirements that depend on the country. Such investments have very secure chances of succeeding, even despite the setbacks that happened earlier. No matter the continent, there is always a risk, so there is no need for additional worry when considering Europe.
The benefits of this citizenship are very strong and do not come with any additional downsides. The free movement you get in the Schengen zone is very useful because it offers you opportunities in all of the other 28 member states. Not only that, but your family members can also reap these benefits as they can also get this residence. This is especially important if you have any children because that will offer them the top-notch education that these countries have to offer.