GOLDEN VISA'S ,WHAT TO KNOW?


Under the Malaysia My Second Home Program a foreign national, and his or her dependents, may obtain a 10-year multiple entry visa if they make a fixed deposit in a Malaysian bank or invest in real estate. Prior to the visa's expiration, it can be renewed provided that requirements are still met.

This program is aimed at retirees and persons of independent means that wish to establish residency in Malaysia. The visa does not allow working in the country, with certain exceptions, and does not entitle its holder to be eligible for a permanent residency permit, neither citizenship.

Investment

Applicants Aged Below 50 Years

Applicant must have liquid assets of at least MYR500,000, a monthly regular income of at least MYR10,000 and make a fixed deposit in a Malaysian bank of MYR300,000, half of which can be withdrawn to buy a house, purchase health insurance or pay for their children’s education.

After two years, part of the deposit may be withdrawn to use the car purchase concession, as long as a minimum balance of MYR150,000 is maintained during the entire stay in Malaysia under the program.

Visa holders may purchase property without restriction, provided that the minimum price established for foreigners in the state where they make the purchase is applied. Usually the minimum price is MYR1m, but there are states like Penang with a lower minimum. Buyers must receive state approval, which can take up to six months. They may also apply for a bank loan. Local banks will require proof of repayment capability, since repayment is normally required when the borrower turns 65-70.

Other benefits include the duty-free, excise and sales tax-free import of an automobile owned by the visa holder requesting an approved permit (AP). As long as the car has been purchased prior to the date of the application and the application is carried out within a period not exceeding 6 months after the issuance of the visa, and is imported within a maximum period of 2 years. Visa holders can also purchase a tax-free Malaysian car during the first year of the visa.

Requirements

- A Malaysian sponsor is required to support the application and place a personal bond up to MYR2,000 before the visa is issued.
- Have medical insurance from any insurance company that is valid in Malaysia.
- Undergo a medical examination in any private hospital or clinic registered in Malaysia.
- Police clearance certificate from the country of origin to prove that the applicant has no criminal record.

Restricted Nationalities

No nationality is officially restricted

Dual Citizenship

Dual citizenship is not recognized in Malaysia. To become a citizen of Malaysia, you must renounce your previous nationality.

Documents Required

  • Evidence of Health Insurance
  • Curriculum Vitae
  • Original or Certified copy of Birth Certificate (if applicable)
  • Original or Certified copy of Marriage Certificate (if applicable)
  • Proof of net wealth
  • Proof of income
  • Bank Statement
  • Original Police Clearance Certificate
  • Medical Certificate
  • Evidence of purchasing property (if applicable)
  • Authorization letter to verify financial documents
  • Job and Salary verification letter
  • Certified copy of passport
  • Covering letter

source: 

https://passports.io/programs/MY1


CITIZENSHIP BY INVESTMENT TURKEY

Turkey announced its citizenship by investment programme in 2016. It grants residency, citizenship and a Turkish passport to applicants investing either in real estate or a bank deposit. The real estate route is particularly attractive for investors. This requires a property purchase of a minimum of $250,000 + fees, making Turkey one of the lowest cost citizenship by investment programmes on the market. The real estate investment amount was originally set at $1 million but was drastically reduced in September 2018.

A Turkish passport allows visa free travel (or visa on arrival) to 125 countries worldwide. Turkey also holds out the possibility of eventual visa free access to the EU. Currently, talks are ongoing, although Turkey has some way to go in order to meet EU conditions.

Turkey holds some good global connections. They have a E-2 Visa treaty with the USA, which means Turkish citizens are eligible to apply for US residency, through the E-2 Visa programme.As the famous EB-5 Green Card programme increases in price (rising from $500,000- $900,000), many investors are looking for an alternative route to access the USA at a lower cost. Price increase aside, the EB-5 programme has also been experiencing serious retrogression issues. The cap of 700 visa applications per country, per year, has created a huge backlog of applications for certain nations. The most affected are those from highly populated countries. For example, it could take a Chinese applicant up to 17 years to get their EB-5 application approved and around 6-7 years for an Indian citizen. Even if the price increase is acceptable to some, these waiting times are not.

THE SOLUTION:

Citizens of a country which hold an E-2 visa treaty with the USA are eligible to apply for a US residency visa. More than 70 countries currently hold a treaty with the USA, however many of these countries do not have such a favourable agreement in place. Countries such as the UK, Italy, Japan, Grenada and Turkey all have a visa treaty offering the maximum stay terms. If your country does not hold a treaty with the US then the first step is to apply for Citizenship in a country that does.

Using Turkey as an example, applicants can apply for the Turkish Citizenship by Investment programme with a minimum investment of $250,000 into real estate. The process takes approximately 3-6 months. Once the applicant has been granted their Turkish citizenship they can then submit their E-2 application in the US. Applicants need to invest in a US business which they own at least a 50% share of. There is no official minimum investment amount stipulated, however it is advisable to invest approximately $120,000 + to ensure an application is successful. The process will take roughly 3 months and applicants will be issued with a five year residency visa with unlimited renewals.

All in all, this entire process can take less than 9-12 months and will cost around $370,000 + fees. This is a much faster and cost-effective way to gain US residency with the added bonus of holding Turkish citizenship too.

La Vida has an array of business franchise opportunities that would be suitable for the E-2 programme. If applicants are citizens of a country which does not hold an E-2 treaty agreement, then we can also assist in applying for Turkish or Grenadian Citizenship first. For more details on the options, please speak with one of our consultants.

source: https://www.goldenvisas.com/turkey


Greece Golden Visa – How to Get Permanent Residency and Citizenship

The Golden Visa for Greece is one of the most popular investment visa programs in the EU. It is a residence-by-investment visa, issued to non-EU citizens who make a significant contribution to the Greek economy. There are several investment options, but the most common route is through purchasing real estate worth at least a quarter of a million.

Golden Visas issued by the EU Member States such as Greece are especially coveted, as they may eventually lead to citizenship and thus access to the EU.

The Greece Golden Visa offers immediate five-year residency to the investor as well as their immediate family members, as well as free travel in the Schengen Zone.

Who Is Eligible for a Greece Golden Visa?

Eligibility criteria for a Greek Golden Visa are:

  • You must be over the age of 18.
  • You must not have any history of criminal records, in any country in which you have lived.
  • You must make a significant investment in Greece (see the investment options below).
  • You must have obtained health insurance from a company operating in Greece.

Investment Options for the Golden Visa for Greece

To qualify for a Golden Visa for Greece, you must make one of the following investments:

  • Purchase a real estate property worth at least €250,000
  • Sign a lease agreement with a hotel or tourist establishment for at least 10 years
  • Make a capital investment of at least €400,000 in a company registered in Greece
  • Make a €400,000 investment in Greek government bonds.
  • Make a €400,000 investment in bonds or shares of real estate investment companies.
  • Make a €400,000 deposit in a Greek bank.
  • Make an €800,000 investment in corporate or government bonds.

Benefits of the Greek Golden Visa

A Greek Golden Visa is one of the most competitive Golden Visas in the EU and is accompanied with the following benefits:

  • The threshold investment options are relatively lower than in most other EU countries with Golden Visa routes.
  • You can extend the visa to include your family members, like your spouse, (unmarried) children under 21 years of age, and dependent parents of either yourself or your spouse. If your child is over the age of 21, but no older than 24, and they are a student, they may also be included in the Golden Visa application.
  • You and your family members will enjoy visa-free travel to the Schengen Zone.
  • There are no requirements to live in Greece for any duration in order to renew the residence permit.
  • You can choose to rent out your property after purchase.
  • You can apply for Greek citizenship after seven years of residence. Greece is an EU Member State, so you would have access to the EU free market and visa-free travel to more than a hundred countries.
  • You can live and invest in Greece.
  • You have access to Greek education and healthcare

Duration of a Greece Golden Visa

The Golden Visa for Greece is issued for five years and can be renewed indefinitely as long as you maintain the investment.

If you ultimately choose to live in Greece, then after seven years of continuous residence, you can also apply for Greek citizenship.

How Long Do You Need to Live in Greece to Renew the Golden Visa?

Unlike most other countries that issue Golden Visas, you do not need to live in Greece at all in order to renew the residence permit. You can keep renewing it every five years, as long as you have still maintained your investment.

To renew the residence permit, you have to provide proof that the real estate property is still in your ownership or a solemn declaration by the relevant representatives that the investment is still ongoing.

Can You Get Greece Citizenship by Investment?

Yes, you can become a Greek citizen by making an investment in Greece and obtaining a Golden Visa. However, unlike residency, you cannot apply for Greek citizenship without actually living there and paying taxes. You must live in Greece for at least seven years before being eligible to apply for citizenship.

In addition, you must also be able to prove you have ties to the country and knowledge of the Greek language and culture, at least on a basic level.

How to Apply for a Greece Golden Visa?

You have to apply for a Greek Golden Visa at the Alien and Immigration Department at the Decentralised Authority in Greece. Before that, you must apply for an entry visa at one of the Greek Embassies or Consulates abroad. An outline of the Golden Visa application process is:

  • Apply for a Greek national visa at an Embassy or Consulate.
  • Enter Greece and finalize your investment. It is your choice whether you decide to hire professional legal help through this step.
  • Collect the required documents for the Greek Golden Visa.
  • Submit the documents to the local Alien and Immigration Department.
  • Wait for the visa to be processed. You will usually hear back about a decision within 3 months.
  • If the decision is positive, you have to travel back to Greece and submit your biometric information.
  • You will receive a Golden Visa residence permit, which will be valid for five years.

What Documents are Required to Apply for a Greece Golden Visa?

The required documents when applying for a Greece Golden Visa are:

  • Application form.
  • Recent, passport-size pictures of yourself. Make sure they follow Greek visa photo requirements.
  • Your valid passport along with a copy. The passport must include the entry visa as required.
  • Proof of having paid the relevant government fees.
  • Proof of having obtained health insurance in Greece for yourself and any family members.
  • Proof of your funds.
  • Additional documents according to the type of investment you make, such as:
  • For purchasing real estate:
    • A contract of purchase that attests to the fact that there are no conditions or exemptions in the purchase, states the total price of the purchase, and the method of payment (it must be in full, via credit held in an institution operating in Greece or via a credit transfer.
    • Proof of transfer of the contract by the accountable Land Registry
    • Certificate issued by the Land Registry proving there has been no impediment related to the purchase.
  • For renting a hotel or tourist establishment:
    • i) Timeshare contract for a minimum period of five years which should state the
    • corresponding price per year;
    • ii) Proof of transfer registration issued by the competent Land Registry;
    • iii) A certificate issued by the National Tourism Organisation (EOT) that it has
    • been informed of the conclusion of the particular timeshare contract.
  • For investment in a company:
    • Documents with details of the company receiving the investment, whether it is established or to be established (must include name, type of legal entity, and share-holders)
    • A document detailing the investment project
    • The location of the investment project
    • The budget and financing structure for the investment
    • A timeline detailing the implementation of the investment
    • Predictions for the results on the first five years of investment (feasibility study and cash flow forecast)
    • A document detailing the number of jobs that will be created by the investment
    • A short CV
    • Your position in the investment project
  • Any other documents requested by the relevant authorities.

Document guidelines:

  • The documents you submit have to be translated into Greek by either the Translation Service of the Ministry of Foreign Affairs in Athens, Greece, or by an attorney who is part of a Greek bar association.
  • The documents you submit must be certified either by an Apostille Stamp (if your country is part of the Hague Convention) or by the nearest Greek Embassy or Consulate (if your country is not part of the Hague Convention).

Note: Before you apply for the Golden Visa, check if you do also need to apply for a Greek Schengen Visa to enter the country. This application will require a different set of documents, such as:

Other popular golden visa programs in Europe

source:

https://www.schengenvisainfo.com/eu-golden-visas/greece-golden-visa/



GOLDEN VISA PORTUGAL THROUGH PROPERTY INVESTMENT

The Portugal Golden Visa program has proven to be the most popular scheme in Europe with investors attracted to its flexibility and benefits. Launched in 2012 the investor visa program has been actively promoted internationally by the Portuguese government. An investment of €500,000 (or €350,000 reduced option) in real estate in Portugal will gain a residency permit for a family including dependent children. The golden visa can be renewed every two years providing the applicant spends two weeks in the country every two years.

Contact our advisors for further details.

source:

https://www.goldenvisas.com/portugal

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