Golden Visa to Europe
The Golden Visa is otherwise known as the “Golden Door” to Europe.
For some, the “Golden Door” is a marriage of convenience to gain easy access to Europe.
As the economic crisis spreads all over the world, Europe is introducing new laws, which facilitate foreign investment in its territory.
Likewise, citizens of non-European countries with a wealthy bank account are invited to invest in Europe. By purchasing properties, and transferring capital or by creating jobs, the investors (in exchange) qualify for a “Golden Visa,” which entitles free movement of people, goods and capital within the Schengen Area as a European citizen.
Countries like Portugal, Spain or Cyprus already have enacted their laws; other countries are to follow, as this is an excellent opportunity to gain extra investment with foreign money.
Due to the crisis all over Europe, it's a fine time to invest, as prices have reached an all-time low in several years, companies have no money and need liquid investment to prevent unemployment from rising. Nowadays, mainly real-estate is the perfect investment; the truth is you can buy two properties, or even three, paying the price of one property some years ago.
There are other benefits to having a “Golden Visa.” For instance, the investors do not necessarily need to obtain permanent residency. The term of residence can be as low as one week per year. However, if they decide to relocate to Europe, they will have the right to family regrouping, and after spending sizeable time (several years), they may qualify for permanent residency, as well as receive a European citizenship/passport.
Thus, the old continent intends to – in a smooth operation – attract foreign investment, which would certainly improve the economy and keep unemployment to a minimum.
For so many years Europe tried to avoid allowing this to happen but...
Isn't the 'golden visa' a marriage of convenience between Europe and wealthy foreign investors?