Countries with Golden Visa programs allow foreign investors to obtain residency or citizenship in various countries by making qualifying investments. These programs lead to enhanced lifestyle, travel, financial, and, importantly, business opportunities.
Albert Ioffe, a Legal and Compliance officer at Immigrant Invest, explores three of the most attractive Golden Visa options: the UAE Golden Visa Program, Italy Investor Visa, and Greece Golden Visa.
1. UAE 10-Year Golden Visa
Why the UAE is attractive for investors. This Middle Eastern nation has one of the most diversified economies, with sectors like real estate, tourism, and finance contributing significantly.
Ranked 16th globally in the World Bank’s Ease of Doing Business Report 2020, the UAE provides a business-friendly environment with simplified procedures for setting up and operating businesses.
The UAE’s GDP has been steadily growing. The annual 3.4% increase 2023 is set to be surpassed in 2024 and reach 5.3%. Local banks show strong liquidity; the loan-to-credit ratio is 80%.
The Emirates also offer lucrative real estate opportunities. Dubai’s real estate market grew by 20% in 2022, with high rental yields averaging 5-7% annually. Foreign investors can own 100% of property in designated freehold areas.
There is a tax-free environment for individuals and businesses, with no personal income tax, capital gains tax, or inheritance tax, making it a favorable location for wealth preservation.
The UAE is known for its world-class infrastructure and investment in innovation, ranking 33rd in the Global Innovation Index 2022. It has state-of-the-art transport, communication networks, and modern amenities.
The UAE’s 10-year Golden Visa program provides several options for investment:
- Real Estate: Minimum investment of AED 5 million in property.
- Public Investments: Minimum investment of AED 10 million in public investments through a deposit, company, or partnership.
- Entrepreneurs: Ownership of an established business with a minimum capital of AED 500,000 or approval from an accredited business incubator in the UAE.
3 Most Attractive Golden Visa Options for Savvy Investors
Benefits of the visa:
- a 10-year renewable residence permit;
- family inclusion;
- no income tax, and other tax benefits;
- easier access and longer stay within the UAE, with no need for a local sponsor.
2. Italy Investor Visa
Why Italy is attractive for investors. Italy’s GDP is projected to grow by 1.2% in 2023. FDI inflows reached $19.9 billion in 2022, indicating robust foreign investment interest. Sectors like manufacturing, automotive, and life sciences are particularly attractive to investors.
Italy’s real estate market, particularly in cities like Rome and Milan, offers diverse opportunities. Property prices in Milan grew by 5% in 2022, and the real estate sector significantly contributes to the national GDP. Investment in tourism and hospitality real estate is also booming, with tourism expenditure reaching €89 billion in 2023. The hospitality sector is particularly attractive, with Rome leading development projects with 26 new hotels by 2025.
Italy’s skilled workforce makes it a leader in various industrial sectors, including fashion, automotive, and machinery. The “Industria 4.0” plan supports digital transformation. Italy Residence by Investment program is also one of the Golden Visas aimed directly at entrepreneurs.
The Italy Investor Visa program provides several options for investment:
- Government bonds: minimum investment of €2 million.
- Italian companies: minimum investment of €500,000 in an Italian limited company.
- Startups: minimum investment of €250,000 in an innovative startup.
- Philanthropy: donation of at least €1 million to a public interest project in Italy (e.g., culture, education, immigration management).
Benefits of the visa include:
- a two-year residence permit, renewable for additional three years;
- family inclusion;
- a 15-year special tax regime, allowing new residents to pay a flat tax of €100,000 annually regardless of the actual amount earned, and they do not have to report foreign income;
- freedom to travel and reside in other Schengen Area countries;
- eligibility for citizenship after 10 years of continuous residence.
3. Greece Golden Visa
Why Greece is attractive for investors. Greece’s economy is recovering with a GDP growth of 2.9% projected for 2024, surpassing the Eurozone’s average. FDI inflows reached $7.6 billion in 2022, showcasing a significant increase in investment interest
The Greek real estate market has seen substantial growth, with property prices in Athens rising by 9% in 2022. The Golden Visa program has significantly boosted real estate investment, with €975 million in real estate purchases in 2023 alone. Investments in tourism infrastructure, such as hotels and resorts, continue to be highly profitable.
Greece aims to become a leader in renewable energy, targeting 35% of its energy from renewable sources by 2030. Investments in solar, wind, and hydroelectric projects are supported by EU funding, providing ample opportunities for investors.
The Greece Golden Visa program provides several options for investment:
- Real estate, purchased, or received as a gift: minimum investment of €250,000.
- Tourist accommodation lease for 10 years: minimum investment of €250,000.
- Timeshare for tourist accommodation: minimum investment of €250,000.
- Shares in mutual or alternative investment funds: minimum investment of €350,000.
- Fixed-term bank deposit: minimum of €500,000.
- Capital investment in a local company: minimum of €500,000.
- Government bonds: minimum of €500,000.
- Corporate and government bonds listed for trading: minimum of €800,000.
Benefits of the visa include:
- 5-year renewable residence permit;
- tax benefits, such as a flat rate on global income;
- family inclusion;
- freedom to travel and stay in other Schengen Area countries;
- eligibility for citizenship after 7 years of continuous residence.
In Conclusion
The UAE, Italy, and Greece each offer unique advantages for investors. The UAE’s tax benefits and business-friendly environment, Italy’s diverse investment opportunities and strategic location, and Greece’s recovering economy and attractive real estate market make them ideal destinations for various types of investments.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
