La Vida offers a choice of several golden visa programmes for investment in residency and citizenship….
Portugal has proved to be the most popular destination in Europe for investors seeking a golden visa. Full residency is granted but there is no requirement to reside. Citizenship can be applied for after six years.
The Portuguese golden visa is a central feature of the government’s drive for international investment. With the country returning to growth the real estate market offers exciting prospects for the years ahead.
La Vida offers a choice of several golden visa programmes for investment in residency and citizenship….
Cyprus offers citizenship for investment levels of €2.0 million in real estate which is one of the big attractions of this programme. A Cypriot passport allows freedom to travel, study, work or live throughout the European Union.
Cyprus also offers residency through investment of just €300,000 allowing full family qualification. The investor visa is flexible with no requirement to live in the country.
La Vida offers a choice of several golden visa programmes for investment in residency and citizenship….
Spain is a firm favourite for many clients considering real estate investment to obtain a golden visa. One of the larger economies in Europe offering an investor visa programme.
Invest from €500,000 in real estate to gain the Spanish golden visa. This provides a flexible residency option. Permanent residency and citizenship can be applied for at a later stage subject to certain stipulations.
Greece offers a residency visa through property investment but eventual citizenship is not available to foreigners. Greece is a member of the EU Schengen visa zone and has no minimum stay requirement.
Prospective investors need to carefully consider the status of the economy in Greece, the real estate market and related property taxes. Greece offers a higher risk investment than other European nations.
Malta offers an Individual Investor Program which is appropriate for our very high net worth clients. In addition to committing to a residence in Malta for five years the scheme requires investment in government approved funds and instruments.
The Malta visa scheme leads to citizenship within one year for suitable applicants, a passport from an EU country and hence the freedom to live anywhere within the EU. The total investment required is typically in excess of €1.2 million.
The citizenship by investment programme for Grenada is one of the newest programmes available to investors. The Grenada passport offers visa-free travel to over 70 countries including the UK.
Grenada offers a low investment threshold. Applicants need invest just $250,000 in a government approved real estate project and maintain the investment for at least 4 years.
The citizenship by investment programme for Antigua and Barbuda provides a second passport to investors offering visa-free travel to over 100 countries including the UK, EU Schengen zone and Canada.
There are several options for investment to gaining citizenship in Antigua including real estate investment of a minimum $400,000.
The St. Kitts & Nevis Citizenship by Investment Program is the oldest of its kind in the world. Established in 1984 the program grants citizenship through real estate investment to qualified applicants.
The government requires investment of $400,000 plus related government and due diligence fees. St Kitts offer visa free travel to over 120 countries. An ideal choice for a second passport.
Queen of Pop Madonna has been very vocal on her social media pages recently about her move to Portugal and her Golden Visa application. The pop star has invested in an impressive property in Sintra, Portugal, which was formerly a palace. The property investment is reported to have cost her €7.5 million euros and is currently undergoing renovation works. Whilst she waits for her new home to be completed, Madonna has been staying in the highly luxurious presidential suite of the Pestana Palace hotel in Lisbon.
Her recent relocation to Portugal was triggered by her sons new venture with the Portuguese junior football team- Benfica. Son David Banda, from Melawi, was adopted by Madonna and ex-husband Guy Richie back in 2006 and is now 11 years old. It is reported that David and his siblings will attend the international French Lycee school in Lisbon.
Madonna has posted a number of times on Instagram in recent weeks about her families new life in Portugal and their wait for their new residency visas to be granted. It is also said that she has had a private meeting with the immigration authorities, SEF, where her application is being treated as an exceptional case. Madonna’s unique celebrity status is projected to boost Portugal’s tourism and economy, bringing a lot of exciting new attention to the country.
Portugal has attracted a number of high profile celebrities in recent years including former Manchester United Football Club player Eric Cantona and French fashion designer Christian Louboutin just to name a few. The Portuguese Golden Visa programme requires international investors to purchase property priced at €500,000 which is more than possible for such high net worth individuals.
Another attractive aspect of investing in Portugal is the Non-Habitual tax regime, which gives foreigners huge tax advantages and the scheme exempts some pensioners from taxes altogether for 10 years.
The Government of Caribbean island Dominica, have significantly reduced the application fees for their citizenship by investment programme by 50% for those opting for the real estate option.
A single applicant would previously have paid $50,000 in government fees, but these are now set at just $25,000 for a single applicant or $35,000 for a family of four, making the programme even more cost effective than it previously was.
The Dominica donation option remains the same and starts from just $100,000 for a single applicant + costs. This is one of the lowest priced citizenship by investment programmes in the world and it has been hugely popular because of this.
A second passport in Dominica will grant one visa free travel to over 118 countries worldwide including the EU Schengen zone, UK, Hong Kong and Switzerland. It offers a great solution for those simply looking to broaden their travel opportunities at a low cost.
As well as the reduced fees, Dominica have also increased the age limit for dependent children, which means that the main applicant can include children up to the age of 30 years old.
Despite the recent hurricane which sadly hit Dominica last month, the government’s Citizenship by Investment unit remains open and in full operation, which is a great reflection of this island’s strong resilience and efficiency.
Contact our consultants for your free consultation and a quotation.
The most promising news is that house prices have been predicted to increase by 5% per annum for the following five year period which is extremely encouraging for Golden visa investors.
Compared to the previous report published for June 2017, the figures for August have risen across the board for both house price increases and new sales enquiries. The sales expectations for the coming three months ahead has also risen. This sits in line with La Vida’s personal forecast as year on year the Autumn proves to be one of our busiest quarters for new investors buying in Portugal.
Due to a high demand yet a low of supply of property (particularly in Lisbon) prices continue to rise to meet this demand. The same has also effected the lettings market where rents remain on an upwards path with a steady rise of tenant enquires. It is predicted that rental growth will also continue over the coming three month period. This is great news for prospective landlords who are looking to invest for rental return.
In other areas, unemployment rates in Portugal have recently decreased to just 9.4% which is the lowest it has been since the 2008 recession. This is yet another positive reflection of how well the economy in Portugal is currently performing.
Despite the current shortage of property on the market, La Vida have an excellent choice of real estate to offer, with a vast selection of options in Lisbon, Porto, the Silver Coast and the Algarve.
As one of the market leading consultancies specializing in Investor visa’s, La Vida have the ability to assist investors with both the real estate purchase and the legal work which is involved in obtaining a Portuguese Golden Visa.
To speak with one of our expert consultant, please do not hesitate to contact us.
The citizenship by investment programme in Cyprus is not only the quickest EU citizenship programme available today, it is also one of the most straight forward options. The programme is a firm favourite amongst high net worth investors looking for a quick solution to gaining a second passport in the European Union which in turn give them the ability to live and work in any EU country. Not to mention the freedom of movement to over 158 countries globally.
The process could not be simpler and is achievable in just 5 simple steps. La Vida’s expert consultant’s will be able to assist investors every step of the way, from the real estate purchase, to the legal work and application. The process is as follows:
Step 1: Engage and Invest
Once La Vida have been appointed and our client facilitator agreement has been signed, the first step is to visit Cyprus. We will tailor a visit to suit, provide an itinerary, arrange property viewings and a meeting with a legal representative. Investors will need to select real estate to meet the required investment of €2,000,000 and place a reservation deposit on the property to begin the purchase. If it is not possible for investors to visit at this stage, they can select and reserve a property remotely with the help from La Vida and our legal team.
Step 2: Application submission
Following the investment, our legal team will begin the application for the main investor and spouse, undertake due diligence and prepare all the supporting documentation. On submission of the citizenship application a permanent residency permit will also be applied for which will takes less than 2 weeks to obtain. Every adult applicant is required to be the holder of a PR card for a period of at least 6 months prior to collecting their passport/national ID.
Step 3: Biometrics
Biometric data will need to be submitted, this can either be done during a further visit to Cyprus or it is possible to visit certain Cypriot embassies to submit the data. Locations such as London, Moscow and Pretoria can provide this service. It is also possible at this stage for investors to collect their residency permit cards.
Step 4: Approval in Principle- 3 months
The time frame set by the Government for the examination of the citizenship application is 3 months from submission. At this stage you will receive an ‘in principal’ approval certificate.
Step 5: Collect Passport
Following the approval in principle, once investors have held their PR cards for a total period of six months their new Passports/ID’s can be collected in Cyprus or at a Cyprus embassy. The total process will only have taken just over 6 months. It’s at this stage that the main applicant’s dependents can then apply for citizenship.
With international investors mainly focusing their attentions on cities such as Lisbon and Porto, it’s no surprise that some of Portugal’s hidden gems are often getting overlooked, and the stunning Silver Coast of Portugal is one of them.
Just 35-45 minutes outside of Lisbon, the Silver Coast region is an outstanding area of protected natural beauty boasting stunning landscapes, golden sandy beaches and crystal clear waters all the way along the coastline. The region is home to a number of traditional and charming Portuguese towns as well as a 5* multi award winning Golf and Beach Resort where a number of luxury properties can be found, attracting numerous high profile owners and celebrities. Nestled between two of the most popular Golf resorts in the region is also the historic town of Lourinha where Jurassic dinosaur remains were recently discovered. Plans for a new Jurassic amusement park are set to boost tourism in the area, with a prediction of an extra 200,000 visitors each year, a great prospect for those looking to generate a rental return on property in this region.
La Vida have a number of different properties to offer along the Silver Coast and a large number of these are offering a guaranteed rental return of 5% per annum for up to 3 years. Also included within this offer is up to 6 months of personal usage for the owner each year, making this an excellent option for those looking for both a personal holiday home and a rental property.
Price per square meter in this location is also extremely competitive at just €2,500 per square metre compared to central Lisbon where the average price per square metre is from €5,000 upwards. Just another factor why savvy investors should be considering the Silver Coast.
The Government of Antigua and Barbuda has recently reduced the application fees for the Citizenship by Investment programme. The Programme, which has been hugely popular for clients looking for a second passport, will now cost a family of four around $50,000 less in Government application fees than it would have previously.
The Government’s fees were previously set at $50,000 for the main applicant, $50,000 for a spouse and an additional $25,000 per each child, bringing the government fees for a family of four to $100,000. These fees are now half the cost with a flat fee of $50,000 for a family of four opting for the Real Estate investment. For larger families, additional dependants can be included for an added fee of $15,000 per person.
Those opting for the donation to the National Development Fund will pay even lower costs with a flat government fee for a family of four now fixed at just $25,000. Additional dependants for families larger than four can also be included for an additional $15,000 per person. Due diligence, passport and legal fees are also applicable for both routes.
The recent changes to these costs make the Antigua and Barbuda citizenship programme even more attractive, offering a very feasible solution to obtaining a second passport which will allow one to travel to over 130 countries world wide including the UK, Switzerland, Hong Kong and many more…
For your free consultation on the Citizenship by Investment programmes and a full personalised quote, please do not hesitate to contact our specialists today.
Last month we saw some very positive changes to the Malta Indefinite Residency Programme. The changes have made the programme even more attractive than it was previously, resulting in an incredibly feasible and flexible way to achieve EU Permanent Residency for the whole family.
One of the huge attraction’s of the programme is that the age limit for dependant children has now been abolished. Children over the age of 18 can be included no matter what their age, providing they are fully dependant on the main applicant. Another positive change is that if dependant children loose their dependency status later down the line, (perhaps due to graduation or marriage) they can still retain their Permanent Residency status. Adoptive children can also be included as well as the main applicant and spouses dependant parents and grandparents. The Malta Indefinite residency programme is an ideal option for investors looking to include up to four generations of family.
Investment starts from just €370,000, making this a very affordable programme. The total investment for this programme needs to be made up from the following areas:
The Portuguese Golden Visa programme has always been a firm favourite since it was released back in 2012 and the latest figures from SEF, the immigration authorities, confirm this. A record breaking 3 billion euros has now been generated from investment via the Golden Visa scheme and there has been a total of 7,896 family residency visa’s granted so far.
2016 saw the busiest year to date with a total of 2,344 golden visa’s issued. But 2017 is set to see significantly higher figures with an impressive 1,259 visas being issued in just the first quarter alone.
The Golden Visa programme in Portugal has always been a popular choice for investors looking to secure EU residency rights via real estate investment. A major draw of this programme is the opportunity to apply for citizenship after 6 years, without the need to reside in the country for long periods on time. Like any EU residency visa scheme, the benefit of visa free travel throughout the Schengen zone is a huge advantage to many.
We urge anybody who is considering this visa programme to contact one of our expert consultants today. La Vida can assist with the whole process from A to Z, from providing initial advice, sourcing a property and processing the application itself through one of our specialist legal partners.
This year 2016 has proven to be a further step on the ever developing market for investor visa programmes. Demand is increasing for most schemes, many programmes have changed and further amendments are expected in 2017. With a Trump victory, Brexit and European immigration concerns we can expect major changes to continue into 2017 and 2018.
We have highlighted below some of the key developments in 2016 and expectations of change in the year ahead.
The delays in SEF in processing golden visa applications in mid 2015 led to a drop in numbers. However a new fast track procedure introduced earlier this year has put applications back on track. The number of approved applications in 2016 looks set to be the highest ever running at over 2000 investors per annum. The introduction of a €350,000 limit for renovation projects is taking time to produce the necessary supply. Such projects are complicated and need to be fully managed. La Vida has sourced some interesting options for clients and we will see more of these in 2017. The property market is gaining strength in Portugal with price rises over the last three years now fuelling growth and demand. Developers are reluctant to offer discounts and the best properties are sold long before completion.
There were some key changes introduced in 2016 to the Cyprus citizenship and residency programmes.
The qualifying real estate investment level for citizenship was reduced from €2.5 million to €2.0 million. The timescale for achieving the pasport increased to six months as it is now necessary to hold residency (but not necessary to live in Cyprus) before being issued a passport. It still remains the fastest route to EU citizenship.
The residency programme was amended to include parents. Three generations can now be included for an investment of just €300,000 in real estate. A key benefit is that this is for Permanent Residency (PR).
Changes for 2017 could see Cyprus becoming part of the EU Schengen zone. Anyone obtaining the Permanent Residency before that point will no doubt retain it should Cyprus enter Schengen. The EU has not allowed any Schengen country to issue Permanent Residency immediately on investment. Should Schengen happen then we can expect some changes to the programme. Investors may be wise to act sooner to grab the benefits on offer.
The economy in Cyprus may well see a further boost in 2017 with the discovery of huge natural gas resources off the coastline and the development of its first casino under the Hard Rock brand.
Political developments in Hungary could well see the end of the residency bond visa programme in 2017. It has been possible to obtain residency in Hungary through a €300,000 investment in government residency bonds. However Hungary’s nationalist opposition party Jobbik is seeking an end to the programme in return for its support on other matters. Parliament closes this week so unless change happens in the next few days we can expect no further developments until at least February 2017. Still time for any investor to get their application in ahead of any changes.
We can expect changes in 2017 to the recently launched citizenship programme in St. Lucia. The scheme has been in operation less than 12 months but there is a new government in place and new ideas and our conversations with those close to the programme suggest a more coordinated and consolidated programme will be launched in 2017.
The Spanish government made some changes to its golden visa programme in 2016 but nothing that enables it to seriously compete with some of the better schemes on the market.
The government is reaping the benefits of its $100,000 contribution limit. The caribbean countries are concerned that this is a race to the bottom in terms of sale of passports.
Expect changes to the St. Lucia citizenship by investment program in 2017. A change of government has already led to a $100,000 donation offer until 31 March 2017.