Golden Visa Programs in Europe have been more appealing to international investors seeking migration and residency in one package. Golden Visas are expected to grow to $50 billion industry post 2025 in Europe alone. Portugal, Hungary, Spain, Malta and Greece have scored big, attracting billions through their Golden residence programs.
Golden Visa programs typically allow applicants to retain their existing citizenship, providing dual benefits of EU residency and home country citizenship. While Caribbean countries permit dual citizenship, they do not offer the residency advantages like golden visas..
What makes Golden visas are superior and more prestigious than Caribbean citizenship by investment passport programs – Here is Why?
1. Visa Free Risk
Caribbean countries promoting citizenship by investment are at the increased risk of losing visa free access with European Union and United Kingdom. For example, UK has already cancelled visa waivers of Vanuatu and Dominica last year and has not reinstated yet. The EU has criticized Caribbean CBI program due to increased risks posed. With ETIAS and ETA implemented soon on all Caribbean passports, it may be worthwhile to pursue a golden visa program in Europe, to “truly” enjoy free movement within EU without any restrictions.
2. Second Home
Buying a second home in Europe with help you family gain firm foot in terms of education, employment and business opportunities securing a future for children.
3. Dual Nationality
Golden visa programs provide a more relaxed residency approach without severing ties to your home country. Direct Citizenship programs are not best fit if your home country does not permit dual citizenship. Chances are if found, you risk your original passport is revoked by authorities. Best not to circumvent dual citizenship laws.
4. Appreciation
European investments in property and securities market over the years have made strong growth and appreciation in terms of returns.
5. Education
European residency offers access to world-class educational institutions, making it super attractive for families with children. Caribbean citizenship does not provide superior educational benefits compared to EU global institutions.Further, access to EU citizenship further makes it cheaper to pursue educational degrees at par with locals. Foreign students are charged twice the university fee compared to locals (EU citizens).
6. Strong Economy
European countries have strong economy, ,strong banking and financial institutions, stable politics backed by strong euro currency, guaranteeing safety for your investment money.
7. EU Passport
EU passports are highly respected travel document recognised in 195 countries and territories in the World. EU citizenship is always considered superior to Caribbean citizenship, makes it well worth your invested money. Golden visa programs does provide pathway to optional citizenship. It takes a bit of effort, impossible to get without living atleast 5 years in most EU countries by establishing strong ties to the country. Some countries also impose language and citizenship test.
8. Short Lived
Golden visa programs have limited shelf life and are short lived. They provide a limited window of opportunity to international investors. Already, Ireland, Netherlands are closed, Portugal have already closed property route, while Spain is due to closing soon in 2025. It is now or never.
9. Tax Benefits
Taxation is based on tax resident status (one must live 180 days of more), irrespective of citizen or resident status. Citizenship does not automatically make a person tax resident. In many ways, golden visa programs exempt non-residents from taxes, providing the same level of comfort as caribbean countries. EU countries do have high taxes in many areas, but at the expense of taxes, one can expect very high standard of living compared to Caribbean countries.
Conclusion
We therefore conclude that European Golden Visa programs adds more value and comfort to your emigration and investment goals in an old fashioned way, setting up your path towards EU citizenship as a long term goal.
