By Harvey Law Group
Golden Visa and Golden Passport programs have become more popular lately, even in third- world countries wherein wealthy people are looking for a “way out” amidst political turmoil, Hong Kong and Indonesia being the latest examples, and socio-economic restlessness. If you’re one of those who are looking for a Plan B, or simply to diversify, here are some of the things you need to know before applying for a Golden Visa or a Golden Passport.
1. Difference between a Golden Passport and a Golden Visa
When it comes to having a Plan B for your family, both are the gold standard, yes, but there’s a big difference between the two. A Golden Passport, which is sometimes called a Second Passport, refers to a Citizenship-By-Investment (CBI) Program. On the other hand, a Golden Visa is either a Residency or Permanent Residency-By-Investment Program. What’s important to know is that not all Golden Visa programs come with a fast track to citizenship so you have to read between the lines or have your lawyer explain it all to you.
2. Your Investment Route
Apart from the amount you’re willing to invest, there are many types of investment you can make. Often time, the more traditional route in most investment immigration programs requires purchasing or investing in real estate or a share of a branded luxury resort. There’s also the non-traditional route of investing in funds, starting your own business or even investing into a franchise. What’s good to know is that investors often have options to choose from. Whether you are considering an active or passive investment, ask your lawyer about what would be suitable for you based on your need and knowledge of the chosen country.
3. Your Waiting Time
Golden Visa and Golden Passport programs have varying timelines and residency requirements – Said timeline should be starting with contacting a legitimate representative to start the process with. If you want to relocate as soon as possible with your family in tow and start a new life abroad, choose a program that has a fast approval rating and shorter waiting time. But if you’re not pressed and you want to explore your options or you have the luxury of time to
travel, you can choose a program that requires a minimum number of stay in the said property
4. Find The Right Representation
Despite the golden visa/passport programs; success and praise, some people have fallen prey to misrepresentation. This led to some people calling the programs a hoax. Apart from doing your research, it’s important to work with an authorized and duly licensed representative to act on your behalf regarding those programs.
Book A Meeting Today
Harvey Law Group has been helping foreign investors secure golden passports and golden visas for over 28 years. If you’re planning to take the same route, contact your Harvey Law Group representative today to start the application process.
Mr. Samuel Harvey
Harvey Law Group
About Harvey Law Group
HLG is a leading multinational law firm specializing in corporate law and investment immigration with a worldwide reputation for representing high-profile clients and corporations, with over 19 offices worldwide. As the top immigration law firm, HLG offers the most comprehensive residency and citizenship programs available to date. HLG was awarded for Immigration Law Firm of the Year at the 13th and 16th annual Macallan ALB Hong Kong Law Awards 2014 and 2017.