Britons have increased interested in “golden visa” route to EUBy Quinta Properties • Oct 24th, 2016 • Category: Company News
Fear over Brexit has now increased the interest of residency in Europe.
Since the referendum vote many Britons continue to look for an European ancestor to guarantee the flexibility afforded by an EU passport. Failing this EU residency or citizenship can be attained through property investment.
Since the global downturn in 2008, Countries like Portugal, Spain, Greece, Cyprus and Malta have set up investment schemes by offering “golden visas” through investment in real estate. Although the terms for Britons who want to continue living in EU still has to be negotiated, they continue to look for solutions.
Henley & Partners with the largest agency offering citizenship planning has had significant increased visits to its website since the referendum.
There are two options for non-EU citizens: residency and citizenship. EU passports are available through property investment only in Cyprus or Malta.
Portugal is cheaper for clients that are looking for visa-free EU travel instead of the passport. A holiday home costs Eur 500,000 and provides residency, and after six years can apply for citizenship. There have been 4000 successful applicants since this scheme started in 2012.
The permit allows the holder to live and work only in Portugal, the applicant must speak Portuguese at the level of an eight-year-old and show that he is integrating within the community.
In Spain ten years of residency are required before applicants can request citizenship.