It is not necessary to be rich to be eligible for a Golden Visa. Although many people opt for traditional investments like real estate, there are other ways to obtain this coveted visa.
Volunteering as a way to obtain a Golden Visa
Volunteering can pave the way to obtaining a Golden Visa, but it requires more than just a few hours of service per year. To be eligible for this modality, you must commit to doing regular and substantial volunteer work. The United Arab Emirates (UAE) is one of the few countries that offers a Golden Visa for significant voluntary work. In the UAE, volunteers can qualify for this visa if they have completed at least 5 years or 500 hours of service. They would apply in the “Humanitarian Pioneers” category, which could grant them a 10-year visa.
Volunteering opportunities in the UAE are diverse and significant, ranging from assisting passengers in public transportation, packing emergency supplies, and providing logistical support at major events such as the Dubai World Expo and various cultural and sports festivals, to distributing food packages during Ramadan. Expatriates who wish to contribute can connect with various Emirati organizations involved in these efforts, such as the Zayed Foundation for Charity and Humanity, the Emirates Youth Foundation, Ma’an, the Emirates Red Crescent, and the Emirati Marshals.
Make a donation
This path to a Golden Visa is primarily aimed at wealthy foreigners and generally involves contributions to significant projects or institutions. For example, Hungary recently reinstated its Golden Visa program starting from July 1, 2024. In this program, high-income individuals can obtain a visa by donating a minimum of one million euros to higher education institutions or public interest projects in Hungary. These contributions must be managed through asset management foundations approved by the Hungarian government. This donation route is one of the three options available in Hungary’s “Investor Guest” program, which grants a 10-year residence visa.
There are similar programs 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 the preservation of national heritage or 500,000 euros for research and development projects. Italy calls its program “philanthropic investment” and sets the donation threshold at one million euros, in line with Hungary’s minimum requirement.
Investing in a business
Investing in a business represents an important way to secure a Golden Visa along with traditional real estate investments. Each country sets its own criteria for this option. For example, Cyprus allows people 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 create jobs (requiring a minimum of 10 positions in urban areas or 8 in rural areas) or invest a minimum of 500,000 euros in a Portuguese company that sustains at least five jobs. Italy offers 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 businesses.
Buy 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 grant a share in the ownership of a company, bonds provide a fixed return to investors, with the guarantee of repayment unless the issuer defaults. In the context of government bonds, the state uses these funds to cover its spending needs and commits to reimbursing the investor or bondholder on a predetermined schedule.
Some countries have taken advantage of this financial instrument to attract foreign investment by offering Golden Visas in exchange for the purchase of 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 that requires a considerable investment of two million euros in government bonds, although it does not specify a required maturity for these bonds.
Being a standout talent
Only a few countries offer Golden Visas based on outstanding talent, aimed at individuals with exceptional professional skills. This category includes elite athletes, top-level artists, innovative creators, specialists, scientists, doctors, and researchers. Indonesia and the United Arab Emirates (UAE) stand out for their programs aimed at these talents.
Indonesia introduced its Golden Visa program on October 20, offering traditional pathways such as real estate and entrepreneurship along with specialized categories for “Global Talent invited by the government” and “Global Talent in collaboration with the government.” These visas are available for 5 or 10 years and are renewable. Specifically, the global talent visa in collaboration with the government involves roles where expatriates work directly with the Indonesian government.
The UAE program recognizes “exceptional specialized talents” in various fields, including athletics, medicine, PhDs, executives, creatives, engineers, and scientists. Notably, the UAE specifies the areas of specialization for certain categories, such as artificial intelligence, big data, and biotechnology, highlighting the focused nature of their visa for outstanding talents.
Excel in academic studies
The United Arab Emirates (UAE) offer an innovative pathway to a Golden Visa, specifically designed for high school and university students with outstanding academic performance, with the aim of attracting young foreign talent to the country. High school students who achieve excellent academic results—with a score of at least 95 out of 100—can obtain a Golden Visa without the need for a sponsor. Instead, they only need a letter of recommendation from the UAE Ministry of Education. These students are eligible for a 5-year visa, which can be extended if their studies require a longer duration.
For university students, the UAE offers the opportunity to secure a 10-year visa, also without the need for a sponsor. This option is available for exceptionally talented graduates who have completed their studies in the last two years and have achieved outstanding academic results at institutions rated “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 long-term development of the UAE.
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