You don't need to be rich to be eligible for a Golden Visa. While many people choose traditional investments like real estate, there are other ways to obtain this sought-after visa. Let's explore these options in detail.
Volunteering as a pathway to a Golden Visa
Volunteering can pave the way for obtaining a Golden Visa, but it requires more than just a few hours of service per year. To be eligible under this route, you must commit to volunteering regularly and substantially. The United Arab Emirates (UAE) is one of the few countries that offer a Golden Visa for significant volunteer work. In the UAE, volunteers may qualify for this visa if they have completed at least 5 years or 500 hours of service. They would apply under the "Humanitarian Pioneers" category, which could grant them a 10-year visa.
Volunteer opportunities in the UAE are diverse and meaningful, ranging from helping passengers in public transportation, packing emergency relief supplies, and providing logistical support at major events like the Dubai World Expo and various cultural and sports festivals to distributing food parcels during Ramadan. Expatriates looking to contribute can connect with several Emirati organizations engaged in these efforts, including the Zayed Charitable and Humanitarian Foundation, Emirates Youth Foundation, Ma'an, Emirates Red Crescent, and Emirati Marshals.
Making a donation
This pathway to a Golden Visa is primarily aimed at affluent foreigners and typically involves contributions to significant projects or institutions. For instance, Hungary recently reinstated its Golden Visa program effective July 1, 2024. Under this program, wealthy individuals can obtain a visa by donating a minimum of one million euros to higher education institutions or public interest projects within Hungary. These contributions must be managed through asset management foundations that have the approval of the Hungarian government. This donation-based route is one of three options available under Hungary's "Guest Investor" program, which grants a 10-year residence visa.
Similar programs exist in other countries. Malta, for example, offers a Golden Visa for a minimum donation of 10,000 euros to a local non-governmental organization, significantly lower than Hungary's requirement. In Portugal, potential donors can contribute 250,000 euros for national heritage preservation or 500,000 euros for research and development projects. Italy labels its program "philanthropic investment," setting the donation threshold at one million euros, aligning with Hungary's minimum requirement.
Investing in a business
Investing in a business represents a significant route to securing a Golden Visa alongside traditional real estate investments. Different countries set their own criteria for this option. For example, Cyprus allows individuals to obtain a Golden Visa by investing at least 300,000 euros in a local business that employs a minimum of five people. Portugal offers similar opportunities; it grants visas to expatriates who either create jobs (requiring a minimum of 10 positions in urban areas or 8 in rural regions) or invest a minimum of 500,000 euros in a Portuguese company that sustains at least five jobs. Italy provides options for those interested in startups and existing businesses, requiring an investment of 250,000 euros for startups and 500,000 euros for other local companies.
Purchasing government bonds
A bond represents a loan made by the investor to the issuer, which can be a government or a corporation. Unlike stocks, which confer a share of ownership in a company, bonds provide a fixed return to investors, with repayment guaranteed unless the issuer defaults. In the context of government bonds, the state uses these funds to cover its spending needs and commits to repaying the investor or bondholder on a predetermined schedule.
Some countries have leveraged this financial instrument to attract foreign investment by offering Golden Visas in exchange for purchasing government bonds. For example, Greece requires a minimum investment of 500,000 euros in government bonds with a three-year maturity to qualify for its Golden Visa program. Italy also has a program requiring a more considerable investment of two million euros in government bonds, though it does not specify a required maturity for these bonds.
Being a distinguished talent
Only a few countries offer Golden Visas based on distinguished talent, targeting individuals with exceptional professional skills. This category includes elite athletes, top-tier artists, innovative creators, specialists, scientists, doctors, and researchers. Indonesia and the United Arab Emirates (UAE) are notable for their programs catering to such talents.
Indonesia introduced its Golden Visa program on October 20, offering traditional paths like real estate and entrepreneurship alongside specialized categories for "Global talent invited by the government" and "Global talent collaborating with the government." These visas are available for either 5 or 10 years and are renewable. Specifically, the visa for global talent collaborating with the government involves roles where expatriates work directly with the Indonesian government.
The UAE's program recognizes "exceptional specialized talents" across various fields, including athletics, medicine, PhD holders, executives, creatives, engineers, and scientists. Notably, the UAE specifies the expertise areas for some categories, such as artificial intelligence, big data, and biotechnology, underscoring the targeted nature of its distinguished talent visa.
Excelling in academic studies
The United Arab Emirates (UAE) offers an innovative route to a Golden Visa specifically designed for academically outstanding high school and university students, aiming to attract young foreign talent to the country. High school students who achieve excellent academic results—scoring at least 95 out of 100—can obtain a Golden Visa without needing a sponsor. Instead, they only require a recommendation letter from the UAE Ministry of Education. These students are eligible for a 5-year visa, which can be extended if their educational pursuits require a longer duration.
For university students, the UAE provides an opportunity to secure a 10-year visa, which is also sponsor-free. This option is available to exceptionally talented graduates who have completed their studies within the past two years and have attained superior academic results from institutions rated as "A" or "B" by the UAE Ministry of Education. This extended visa not only recognizes their academic achievements but also encourages them to contribute to the UAE's development in the long run.
Useful links:
United Arab Emirates: Golden Visa
Greece: Golden Visa
Italy: Golden Visa
Indonesia: Golden Visa
