EU GOLDEN VISAS. Conditions, Process & Recommendations.

Update covid 19: European Union Permanent Residency Program – Remote application.
Cyprus is currently the only PR program where a remote application can happen and be approved before the investor needs to travel. With all other programs available in Europe the investor needs to come physically one time to proceed with the application. With the current covid-19 travel restrictions, it means no one is making PR applications in any European country apart from Cyprus.

With Cyprus, the application and general process can be completed 100% remotely. The applicants have 1 year after the approval of the application to travel to Cyprus and complete the process
This is a big advantage for Cyprus and Keller Henson’s remote sales team is clearly making a difference to assist investors in this process. The process of property selection, remote visit, purchase, and PR/citizenship application in Cyprus can be arranged from the comfort of your home.

European Permanent Residency and Citizenship by investment program.

Some European countries are offering the so-called EU golden visas in exchange for foreign investments. There are 2 types of EU golden visa programs available.

  1. The European Permanent Residency by Investment Program (EU PR VISA).
  2. The European Citizenship by investment program (EU Passport).

Which EU countries sell Golden Visas?

EU Golden Visas Map

What is a European permanent residency by investment program (EU PR VISA)?

Some European countries are offering long terms visa for real estate investors & wealthy foreign nationals. An investor purchasing real estate, companies, government bonds, or certain industries of a minimum value can be granted a permanent residency visa in the country he invested in.

When investing in the country, the investor and his family will be allowed to apply for a permanent residency visa in the country they invested in.
As a permanent resident of a European country, the permanent residency visa will allow the investor to travel anywhere in Europe, without the need to apply for a visa when traveling to other European countries.

A permanent residence holder has freedom of movement throughout the entire Schengen Zone (26 countries).
This visa will be valid for few years, it can be renewable and allow a future citizenship application in the country.

What is a European Citizenship by investment program (EU Passport)?

European citizenship by investment program will grant you a passport of the EU country you invested in. An investor purchasing real estate, companies, government bonds, or certain industries of a minimum value can become a citizen of this country. The resulting passport will allow visa-free travel to over a hundred countries in the world, depending on the issuing State.

European Permanent Residency by investment program VS Citizenship by investment program. Difference between the 2 types of European Golden Visa.

  1. A permanent residency by investment program can be considered as a long-term visa lasting few years. A permanent residence holder has freedom of movement throughout the entire Schengen Zone (26 countries).
  2. Citizenship by investment program will grant you a passport of the country you invested in. In order to become a citizen of this country. The resulting passport will allow visa-free travel to over 100 countries in the world, depending on the issuing State.

Which European countries offer a Permanent Residency by investment program (EU PR VISA)?

Now more than ever, families are looking to diversify their interests ensuring they have a plan B. When thinking about a Permanent Residency program to acquire a European permanent residency permit, few choices are available.
European Permanent Residency programs are offered in 15 European countries such as France, Italy, Switzerland, Portugal, Austria, Bulgaria, Ireland, Greece, Cyprus, Latvia, Luxembourg, Malta, Netherlands, Spain, and the United Kingdom.
The eligibility of a European permanent residency by investment program differs per country. The cost for a European permanent residency program starts around 300,000 euros.

European Golden Visa Programmes List

Which EU countries are offering citizenship by investment program (EU Passport)?

Update November 2020:

Cyprus does not offer anymore a Citizenship by Investment Program. The Cyprus citizenship can be granted after 7 years of permanent residency.

On the 15 European countries offering an investment program for Permanent Residency, there are actually only 4 European countries offering a Citizenship by Investment Program.
The 4 countries offering a Citizenship by investment program in Europe are Cyprus, Bulgaria, Malta, & Austria.

Citizenship is usually only granted by following the conditions of the Citizenship Investment Program of a particular country.

In Cyprus, a person having a permanent residency permit can apply for a citizenship after 7 years of residing in the country.
The investment entry price for a European citizenship program is usually higher around 2,000,000 euros.

What kind of investments are eligible for a Golden European visa?

The eligible investments for a European Permanent Residency visa are investing in real estate, companies, government bonds, or certain specific industries.

Some countries such as Austria or Switzerland might require a more active investment method creating an impact on the country’s economy such as creating job opportunities or pay a minimum amount of tax per year.

The most common investment is real estate. It’s important to note that not all types of properties will be qualified for a long-term visa application. Usually, the properties that are linked to a European Permanent Residency by investment program shall be of a minimum value, can be only new real estate developments, and can be located in specifics areas.

Can I get a loan to pay for a European permanent residency Visa?

No loans are given for the European permanent residency program. In the majority of cases, the investor will need to prove that he/she owns the money intended for the investment. Nevertheless, if an investor intends to invest in a property, a mortgage may be available, depending on the country.

Any basic requirements to obtain a European permanent residency and citizenship (European golden visas)?

The eligibility requirements for a European Permanent Residency or Citizenship can differ from country to country. In general, the main things the investor will have to prove are the following:

  • The funds have been earned legally
  • The investor shall have no history of criminal records
  • The funds being intended for the investment are actually in the investor name
  • The investor can sustain itself and its family members for the period of time they intend to live in the country

Where do people buy their European Citizenship?

The 2 European countries that faced the most European Citizenship program applications are Cyprus (3,336 applications) and Malta (2,027 applications). Followed by Austria (303 applications) and Bulgaria (16 applications).

Number of EU citizenship application per country.

Can I apply for citizenship after few years of being a permanent resident?

Not all of the 15 European countries offering a European Permanent Residency Visa will accept a citizenship application.
Citizenship is usually only granted following the conditions of the Citizenship Investment Program of a particular country. The citizenship by investment program is available in solely 4 European countries.

Cyprus is the only European country where after 7 years of residing in Cyprus, a person can apply for Cypriot citizenship. On top of this, after such a person obtains citizenship, his/her spouse/kids can also apply for citizenship.

Permanent Residency by investment program what to be careful of?

The main things that an applicant shall consider when thinking about a European Permanent Residency visa program are:

  • Is it really permanent?
  • Entry price
  • Fees
  • Linked to how many family members
  • Ability to apply later on for citizenship?
  • Can I proceed with the entire application remotely?
  • How much time do I have to spend in the country?

Can I proceed with my EU Golden Visa application remotely from my current country of residence?

Update covid 19: European Union Permanent Residency Program – Remote application.
Cyprus is currently the only PR program where a remote application can happen and be approved before the investor needs to travel. With all other programs available in Europe the investor needs to come physically one time to proceed with the application. With the current covid-19 travel restrictions, it means no one is making PR applications in any European country apart from Cyprus.

With Cyprus, the application and general process can be completed 100% remotely. The applicants have 1 year after the approval of the application to travel to Cyprus and complete the process
This is a big advantage for Cyprus and Keller Henson’s remote sales team is clearly making a difference to assist investors in this process. The process of property selection, remote visit, purchase, and PR/citizenship application in Cyprus can be arranged from the comfort of your home.

Is the permanent residency by investment program really “Permanent”?

In fact, Cyprus is the only European Country that offers a real “permanent residency visa” as there is no requirement to renew the permits. You can secure your family through acquiring permanence residency in an EU State member, Cyprus, in just 2 months.

The Cyprus Permanent Residency Program is highly attractive. By securing a real estate investment of 300,000 Euros in Cyprus, three generations can obtain Permanent Residency Permits which are really valid forever. Τhe Permanent Residency Permits are also valid forever for the whole family. The Cyprus Residency by investment program, grants to the successful applicants a permanent residence permit that does not have an expiration date, unlike other residency programs which require frequent renewal of the permit with all the costs and processes that this entails.

Cyprus – Paphos City
Cyprus – Limassol City

Process of CYPRUS Permanent Residency by investment program:

  1. €300,000 minimum investment. The application can be submitted with payment of €200,000 only.
  2. The application and general process can be completed 100% remotely.
  3. Property selection – possibility to switch properties after the first visit to Cyprus.
  4. Contract signing – Bank Account opening – Submission of Cyprus PR application.
  5. Simple, no language/medical exam or interview
  6. Approximately 2 months process
  7. 1 day every 2 years residency requirement
  8. 100% approval rate
  9. Τhe permits are valid forever for the whole family.
  10. After 7 years of residing in Cyprus, a person can apply for the Cypriot citizenship. After such person obtains the citizenship, his/her spouse can also apply for the citizenship.
Beach in Cyprus

BENEFITS OF CYPRUS Permanent Residency:

  • Personal Bank Account in an EU country with the support of an approved introducer.
  • The applicants have 1 year after the approval of the application to travel to Cyprus, complete the process and issue their PR card.
  • Instant access to the National Health System – no need for medical insurance
  • Properties can be sold and substituted by other properties at any time.
  • Spouse, children up to 25 with parents and parents in law can all get the PR without any additional investment whatsoever.
  • The Cyprus Residency by investment program, grants to the successful applicants a permanent residence permit that does not have an expiration date, unlike other residency programs which require frequent renewal of the permit with all the costs and processes that this entails.
  • The spouses are allowed to submit two separate independent applications, without being required to make an additional investment and they can include minor children on both. This way even in case of divorce or revocation of one spouse’s PR, the other will not be affected.
  • Adult children who wish to study in Cyprus can obtain a student visa. After the completion of their studies, they can apply for PR even if they have exceeded the age of 25.
  • Police Clearance only from the country of residence and not the country of origin.
  • Applicant and spouse can be shareholders in a company in Cyprus and receive payment of dividends.
  • No language test
  • No physical residency requirement
  • After 7 years of residing in Cyprus, a person can apply for Cypriot citizenship and after such person obtains the citizenship, his/her spouse can also apply for the citizenship.
  • Having Cyprus citizenship is an investment for the family and especially of the children of the investor as it broadens the professional opportunities and career growth since only EU citizens have the freedom to move to an EU country and be easily employed without a work permit.
  • Other residence programmes in European countries create certain obligations to the applicants in order to obtain a residence permit, such as to have a job offer, marry a resident or start a business in the country. The Cyprus Permanent Residence Programme does not create any such obligations for the applicant and the permit is granted only provided the applicant has completed an investment in Cyprus.
  • A permanent residence holder can obtain easily a visa to visit other EU countries.
  • Non-discretionary examination of applications – as long as an applicant meets the requirements, the application will be approved.
  • Fast examination process that does not exceed 3 months.
  • Possibility to rent out the properties and earn rental income.
  • Possibility to enjoy education of British Universities based in Cyprus.

Properties available:

Amazing properties in Cyprus are linked to the European Permanent Residency program and Citizenship program. You can choose between a luxurious villa, sophisticated residences, or a modern apartment in a high rise residential tower.

Don’t hesitate to contact the team at Keller Henson, we are clearly making a difference to assist investors in the European permanent residency program process. With the team at Keller Henson, the process of property selection, remote visit, purchase, and PR/citizenship application in Cyprus can be arranged from the comfort of your home.

Here are below some of the best properties available for sale in Cyprus with a EU GOLDEN VISAS program:

1. An enchanting community of stylish residences in a desirable location: DOMUS and THE GROVE. (starting price approx. 300,000 euros).

Domus – Pafos – Cyprus
The Grove – Pafos – Cyprus

2. High-end villas and apartments in one of the most sought-after destination resorts in the Mediterranean. MINTHIS Resort and Golf Club. (starting price approx. 865,000 euros).

Minthis Resort & Gof Club – Pafos – Cyprus

3. Modern luxury apartments in a high-rise tower. ONE TOWER. (starting price approx. 3,100,000 euros).

ONE Tower – Limassol – Cyprus

Check-out the properties available for sale in Cyprus with a European Permanent Residency visa.