At Global Residence Index, we provide our clients with exceptional hands-on investment migration services. With over a decade of experience, the company consistently provides solutions to all things relating to the investment migration industry. 

There were a few changes in 2023, and this guide will provide you with all the details and steps you’ll encounter along the way to becoming a PR holder. 

We’ll explore how obtaining Cypriot residence can improve global mobility by diversifying your asset portfolio into a new country and continent. If the topic interests you, there is more information on our website, and you can book a consultation with one of the global experts.

Investment Routes for Permanent Residence

The beauty of the Cypriot Permanent Residence program is that investors received PR immediately upon completing the investment criteria. There are no physical presence requirements other than visiting the Mediterranean paradise island for at least one day every two years. 

The investment options for Permanent Residence are reasonably straightforward and are as follows:

• Investment into residential property worth at least €300,000;
• Buy a commercial property worth at least €300,000;
• Investment in €300,000 worth of share capital in a company that is registered in Cyprus; and 
• Investment at least €300,000 in units that are part of a Cypriot Collective Investment Organization. 

There are a few caveats under each investment option. Investors need to be aware of these additional requirements that can make or break an investment decision or lead to clients being bewildered later when they become known.

The most significant potential misunderstanding is VAT when purchasing real estate. VAT is 19%. Cypriot law provides for a reduced rate of 5% for the purchase of real estate, subject to certain conditions. Thus, the buyer of new real estate is allowed to save significantly.

Purchasing Residence Real Estate

The investment value excludes VAT, which makes that total investment requirement a fair bit more than just €300,000. Investors can purchase property for a lower amount and include refurbishments that can then accumulate to over €300,000 plus VAT. The investor may apply for Permanent Residence by completing a transfer of at least €200,000 plus VAT. The funds must come from a foreign bank account.

Commercial Real Estate

Commercial real estate can include office, retail, and hospitality (food and beverages, lodging, recreation, travel and tourism, and meetings and events) €300,000 excluding VAT. The investor can combine multiple properties under this route to meet the minimum investment.

Investment into Share Capital

The investments must be in a Cypriot company that generates employment for at least five people.

Units in a Cypriot Collective Investment Organization (CIO)

The funds under the CIO need to be regulated by the Cypriot Securities and Exchange Commission and professional fund managers who comply with the Alternative Investment Fund Managers Laws (AIFM Law). Funds must consider regulations issued further to the Investment Services and Activities and Regulated Markets Law.

Investing in funds has the potential to generate significant returns for investors, particularly when making investments in early rounds or medium-sized businesses with the potential for a positive exit. Funds can equally be more risky on the downside.

The Changes in 2023 for Dependents and Proof of Income

1. Parents and in-laws no longer counted as dependents

The new regulations lower the range of family members qualifying as the principal applicant’s dependents. Unfortunately, parents and parents of the spouse and adult children no longer qualify as dependents. Parents need to qualify independently by making investments of their own.

Dependents can include spouses, children under eighteen, and children under twenty-five who are entirely dependent on the primary applicant. 

2. Minimum Income Requirement raised

The Cypriot Permanent Residence program has increased the minimum annual income requirements. The income figures are now increased to €50,000 for the principal applicant, €15,000 for a spouse, and €10,000 for each dependent child. 

3. Proof of Sustained Investment and Income 

A new criterion includes that investors must prove that they have maintained their investment and that their income in the previous year meets the minimum income requirement. Failure to present proof can cause their residence to be canceled. 

Step-by-Step Golden Visa Process

1. Initial Agency KYC: This step is conducted with the case management team. The request is to KYC the investor to ensure that the chances of approval are enhanced for the Cypriot Permanent Residence Investor Program.

2. Building an Application Pack: The beginning stages require the collection of standard translated and apostille documents, medical insurance and a basic CV of the primary applicant. Confirming proof of income is one of the most critical steps in the application process.

3. Complete the investment condition by transferring funds to a local bank account. If clients use our real estate professional team in Cyprus, this will require applying to the Department of Land and Surveys. The professional team further applied to reduce VAT from 19% to 5%. Our vast portfolio of suitable real estate will meet most investment needs.

4. Conclude final negotiations in real estate offers and ensure the contracts are airtight. We offer complete legal services to conclude the deal, but we have worked with client lawyers to ensure continuity.

5. Submit the completed application document pack. By giving authority to our local legal team, they can submit on the client’s behalf. Thus, there is no need to fly to Cyprus.

6. The final decision on approval for Permanent Residence. The decision typically takes around two months. After approval, all applicants must visit Cyprus within one year to complete their biometrics and obtain their permanent residence permits.

The Route from Permanent Residence to Citizenship

There is a route to citizenship under the investor program. Applicants will need to live in Cyprus for four years within seven years. In the fifth year, if the applicant stays in Cyprus for twelve consecutive months, they can apply for citizenship.

There is no language requirement or nationality test to apply for citizenship.

After becoming a citizen, there is freedom of movement within the European Union as Cyprus is an EU member state. EU citizens can travel, work, and study in any other EU country without a visa.

Pros and Cons of Long-Term Cypriot Residence

Cyprus has one of the best tax residences in Europe. Many EU and non-EU nationals make Cyprus their place of residence for tax purposes, personally, and for their business. Income taxes can be zero in certain circumstances, and company taxes are 12.5% of profits, which can use tax laws to defer at times.

Cyprus is an idyllic Mediterranean paradise; many applicants who participate in the investment program live for considerable time on the island each year. By spending enough time in Cyprus, investors can realistically work towards citizenship. Cyprus recognizes dual citizenship and is part of the European Union.

For those investors who are not going to live in Cyprus, they only need to visit once every two years to maintain their Permanent Residence.

Next Steps with Global Residence Index

The Cyprus Golden Visa investment is currently €300,000 plus 5% VAT if you work with our real estate team in Cyprus. The program has many benefits and is an excellent investment migration program for increasing assets in multiple countries that afford long-term residence.  

Our relationships with real estate lawyers in Cyprus allow our clients to get the best locations and real estate. By working in this manner, we work directly with developers to get off-plan and early handover properties. By getting in early, investors can maximize their return on investment.

We hope this guide might have been helpful to you. For an in-depth consultation, we invite you to schedule a meeting with our team. We will see if the program is right for you, after which we can connect you with our experienced real estate agents and legal professionals in Cyprus.

The post Cyprus Golden Visa Residency Investment Guide appeared first on Global Residence Index.

The Philippines is a popular destination for retirees and investors due to its low cost of living and various investment opportunities. Combining this with its beautiful islands, exotic beaches, impressive volcanoes, and world-class diving spots, the Philippines is a lovely travel destination. Furthermore, the country has attractive options for foreigners to obtain residency by investment.

We at Global Residence Index have a wealth of information and business experiences in Southeast Asia and the Philippines. Our advisors assist clients in making informed decisions when considering investing or moving to the Philippines.  

Special Resident Visas (residence by investment visas) are issued to foreign nationals coming to the Philippines for an indefinite stay or permanent living, whether for work, employment generation, investment, or retirement purposes. Classifications of the resident visa may vary from investment conditions and types of retirement.

If the Philippines might be an exciting option for you as an investor or a possible retiree, read the guide below. We hope to provide you with helpful information, and if you would like to request a consultation, then don’t hesitate to each out.

Special Resident Retiree’s Visa (SRRV)

​​The Special Resident Retiree’s Visa (SRRV) entitles the holder to reside in the Philippines anytime during his lifetime, permitting multiple entry privileges, so long as the visa requirements remain in the Philippines. The Bureau of Immigration issues the SRRV upon endorsement of the Philippine Retirement Authority (PRA). 

The SRRV program of the PRA requires foreign nationals to have a certain amount of deposit in any PRA-accredited bank in the Philippines. The amount has to be deposited via inward remittance.  

Eligibility for SRRV

There are different SRRV Programs available. The amount of bank deposit requirement depends on the program being applied for. Any foreigner at least fifty years of age can apply for an SRRV, provided they meet at least one of the SRRV programs’ requirements.  

There are four options available to retirees: 

SRRV Smile 

Applicants who are at least thirty-five years old and above. They must make a minimum deposit of $20,000 in a PRA-designated bank account;

SRRV Classic

The primary retiree deposits $50,000 (thirty-five to forty-nine) or $10,000 to $20,000* (fifty years and above) that can be used to purchase an apartment or use for a long-term lease. The investment cannot be in an off-plan or construction phase.

*allows retirees to apply without a pension. The pension requirement for a $10,000 deposit is $800 or $1,000 for a couple. 

SRRV Human Touch

For potential retirees above thirty-five years old who require consistent medical or clinical assistance. Applicants under the Human Touch need to deposit $10,000 into a bank account and have a monthly pension of $1,500. The last requirement is to hold Health Insurance usable in the Philippines.

SRRV Courtesy

Former Filipinos (thirty-five plus) and foreigners (fifty years or older) who served in the Philippines as diplomats, ambassadors, or staff in international organizations. They only require a deposit of $1,500.

SRRV Expanded Courtesy

Foreigners (fifty years or older) receive a monthly pension of $1,000 and a deposit of $1,500. The expanded courtesy allows for two dependents; however, an additional deposit of $15,000 for each. The added deposit for dependents is waived for former Filipinos. 

The investor can choose to invest their deposit through the following means: 

• Purchase, acquisition, and ownership of a condominium unit;
• Long-term lease of house and lot, condominium or townhouse for a period not shorter than twenty years; or
• Purchase, acquisition, and ownership of golf or country club shares. 

The applicant may be joined by his dependents, who can be a spouse and unmarried children under twenty-one years old.

Special Investor Residence Visa (SIRV)

The Special Investor Resident Visa (SIRV) entitles the holder to reside in the Philippines. Initially, investors obtain a probationary residence, which will be converted to a Philippines permanent residency (indefinite), permitting multiple entry privileges so long as the investments remain in the Philippines.

Eligibility for SIRV

Foreigners at least twenty-one years of age are eligible to apply for an SIRV provided the investor meets the following requirements:

• has not been convicted of a crime involving moral injustice;
• is not afflicted with any dangerous or contagious disease;
• has not been institutionalized for any mental disorder or disability and;
• Is willing and able to invest the amount of at least $75,000. The investment may be reduced to $50,000 under certain circumstances under Executive Order No. 63 and Executive Order No. 1037. 

The applicant may be joined by certain dependents, who can be a spouse and unmarried children under twenty-one years old. 

For purposes of securing a SIRV, there are restrictions on the investment. They need to be in:

• Publicly-listed companies;
• Companies engaged in areas listed in the Investment Priorities Plan (IPP) of the Board of Investments. (The IPP is a list of priority areas of economic activities the Government promotes for investments.); and
• Companies engaged in the manufacturing and services sectors.

Ownership of stocks in corporations engaged in wholesale trading and investments in condominium units or partnerships shall not be allowed.

Philippines Residency Application Process

You can apply for residence in the Philippines at your nearest embassy or consulate. 

Applicants can apply in-country at the Residence Center in Manila to apply directly. Applying in the Philippines is slightly faster than from a consulate. 

Investors or retirees will need to submit the following documents to apply for the Philippines investor visa:

• Passport and birth certificate
• Marriage certificate (if applicable)
• Completed application form 
• A CV
• Police clearance
• A medical certificate
• Proof of the intention of the remittance of funds from any accredited depository bank, either the Development Bank of the Philippines or the Land Bank of the Philippines
• An application processing fee of $300

The application can be made in your home country at an embassy. If the application gets approved, investors will be issued a probationary residence valid for six months. You must complete the required investment during that time to obtain indefinite residence.

Final Steps – Conversion to Indefinite SIRV 

The Final step is to make your investment. For this, you will need to be physically present in the Philippines. 

As part of the application process outlined below, you will have moved the required qualifications of the investment sum into one of the two government-owned banks. 

You will need to invest that money within six months to convert your probationary SIRV to an indefinite SIRV.

The investment effectively converts residence to permanent residency in the Philippines (indefinite) as long as the investment is held.

Is Citizenship an Option?

The one downside to the residence programs in the Philippines is that citizenship is hard to attain. Applicants for naturalization require at least ten years of continuous residence, must know Filipino history, and be able to speak Tagalog.

Conclusion

The Philippines residence programs are flexible, and the easy-to-follow process makes it an attractive second residence for most applicants over thirty-five years old. The residence guide above is part of building a holistic residence or citizenship strategy. 

Would you like to know more? We are available for a consultation or to respond to a request. 

The post Philippines Residence Visa Guide: SIRV & SRRV appeared first on Global Residence Index.

The Freedom Visa: A Closer Look

Dubbed the “Freedom Visa,” this initiative is more of a donation to the country rather than an investment. Applicants are promised approval within six weeks, but it’s crucial to note that this is just for the visa, not the citizenship. The process from obtaining the visa to the passport is still unclear, raising questions about the program’s transparency and effectiveness.

Comparing Passport Benefits

The Salvadorian passport offers comparable benefits to Caribbean passports, with access to Europe, Russia, and certain Asian countries like Korea, Japan, and the Philippines. However, it lacks access to destinations like the US, Canada, and the UK. This limitation could be a significant deterrent for potential applicants, especially compared to programs like Malta’s, which offers a more powerful passport and EU residency for a similar investment.

Future Prospects and Concerns

El Salvador’s growing relationship with Eastern countries like China and Russia is noteworthy. Significant investments from China, including infrastructure projects, hint at future enhancements to the passport’s power, possibly including visa-free access to China. However, El Salvador’s alignment with Eastern powers may hinder its ability to secure visa-free travel agreements with Western countries.

The Direction of El Salvador

Under the leadership of Nayib Bukele, El Salvador has transformed, becoming safer and more stable. However, Bukele’s frequent criticism of Western powers may impede the development of beneficial relationships for El Salvador and its citizens, further impacting the attractiveness of its citizenship program.

Who is it For?

The program seems tailored for ultra-high-net-worth individuals with a deep affinity for El Salvador or those heavily invested in cryptocurrencies. However, for the average millionaire or crypto enthusiast looking for a Plan B, the program’s high donation requirement and lack of clarity might be unappealing.

Final Thoughts

El Salvador’s citizenship by investment program has potential but requires significant improvements to attract a broader audience. As it stands, the program seems limited to a very niche market. It will be interesting to see if El Salvador makes the necessary adjustments to appeal to a broader range of investors and crypto enthusiasts seeking alternative citizenship options.

The post El Salvador Citizenship, Golden Visa & Residency by Investment appeared first on Global Residence Index.

Hungary has introduced a new Golden Visa option for those seeking residency in Europe through real estate investment. This initiative follows the closure of Hungary’s previous permanent residency program in 2017.

The Old and the New

Previously, Hungary offered a straightforward permanent residency program, requiring a €300,000 investment in bonds. However, this program was discontinued.

Despite this, Hungary has maintained a Golden Visa program where investing in real estate through a Hungarian company granted residency. This involved purchasing two apartments totaling €240,000 and earning rental income, thereby granting residency under favorable tax conditions.

The New Golden Visa: Guest Investor Program (GIP)

The Guest Investor Program (GIP) is Hungary’s latest offering. It includes:

• Investing €250,000 in a real estate fund,
• Purchasing €500,000 worth of real estate directly, or
• A less popular option of a €1 million donation.

The details regarding the type of real estate and location restrictions are yet to be finalized, with more information expected in the coming months. This program is set to activate in late 2024.

The previously outlined €240,000 investment pathway offers a viable alternative if you are eager to secure European residency sooner. Additionally, other attractive residency programs across Europe can be explored.

Additional Residency Options

Besides GIP, Hungary offers other residency routes:

• Purchasing an apartment over €100,000 in Budapest,
• Starting a company with active business operations, or
• Purchasing two apartments totaling €240,000 and earning rental income.

These options highlight Hungary’s openness to high-value immigration while maintaining strict policies against free-entry refugees.

Hungary’s Attractive Tax and Lifestyle Benefits

Hungary is appealing due to its:

• Low corporate tax rate of 9%.
• Absence of inheritance and wealth taxes.
• Crypto-friendly policies.
• Beautiful cities like Budapest and a vibrant expat community.

Political and Economic Context

Hungary, under Viktor Orban’s leadership, has been assertive in its economic and immigration policies, often clashing with EU norms. This stance includes maintaining low taxes and attracting high-value immigrants while opposing minimum corporate taxes.

The Future of Hungary’s Golden Visa

The GIP is expected to be a streamlined and more accessible version of Hungary’s residency options. It’s designed to be less subjective than previous programs and to attract a broader range of applicants, especially from China and the USA.

Conclusion

Hungary’s new Golden Visa program, along with its other residency options, presents an attractive opportunity for those looking to invest in Europe. The country’s low tax rates and strategic location within the Schengen area make it an appealing destination for investors and high-net-worth individuals.

Next Steps

For more information on European residency by investment, feel free to explore other sections of our website. Should you require personalized advice or wish to discuss specific opportunities, please don’t hesitate to reach out and schedule a consultation with our expert team of advisors.

The post Hungary’s Golden Visa Program: An Overview appeared first on Global Residence Index.

The EB-5 and Investment Requirements

Firstly, the EB-5 is not a citizenship-by-investment program. However, there is a pathway to citizenship. The EB-5 immigrant investor program was introduced in 1990 to allow high-net-worth individuals to legally reside in the US after investing in an approved project, usually an investment in a commercial enterprise. In 1992, Congress created the EB-5 Regional Center Program to simplify the investment process and thus attract more investors to stimulate economic growth.

A successful candidate for the EB-5 visa does not receive a limited residence visa per se but rather a pathway to obtaining a green card, which is a permanent residency status in the US.

• The program allows for 10,000 visas to be issued each year;
• The minimum EB-5 capital investment amount is $800,000 into a US commercial enterprise; and
• The investment must create at least ten employment opportunities for US citizens.

EB-5 Immigrant Investor Requirements

The investor needs to complete a few additional EB5 visa requirements before qualifying. GRI suggests that an EB5 lawyer assist applicants as the process can be lengthy, and application errors can lead to further delays.

To qualify for the EB-5 visa program, investors must meet specific financial requirements. Accredited foreign investors, such as financial institutions or insurance companies, automatically meet the criteria. The minimum capital investment amounts vary based on the location of the EB-5 investment projects in rural areas and high unemployment in urban areas.

By the Numbers for the EB-5 Visa Requirements

The EB-5 visa requirements include that accredited foreign investors have a net worth of at least $1,000,000 or an annual income of at least $200,000 for the past two years. The minimum investment amount is $1,050,000 for all projects except those in a targeted employment area (TEA) or infrastructure project administered by a government entity, which requires an EB5 investment amount of $800,000.

Investors must provide documentation that shows the funds used for the investment in a commercial enterprise are from legal sources. Acceptable sources include salary from employment, dividends from a business, inheritance, gifts from family or friends, proceeds from the sale of real estate, and other legitimate sources.

EB-5 Processing Times

Part of the EB-5 investment requirements is that investors should have funds to pay processing, attorney, and other administrative fees before beginning the application process to avoid delays. Immigrant investors must have a clean record to obtain permanent resident status. Background checks will investigate the investor’s finances, political involvement, and criminal history to determine eligibility for US residency.

The EB-5 processing time is not immediate and can be lengthy. There are thousands of EB5 applicants each year, and it takes time to review them individually. Generally, receiving conditional permanent resident status takes approximately two years, and removing the conditions requires another two years. Time frames may be longer as US immigration deals with backlogs, and applicants can wait up to three years. Investors in rural TEA projects get priority processing, which may result in faster conditional permanent resident status receipt.

The EB-5 Immigrant Investor Process

As a first step, we recommend contacting one of our experts on the EB-5 program to gather critical information from you. After the free consultation, we’ll ask you to complete a suitability questionnaire and provide proof of your accreditation status, which may include financial statements and proof of income for the past two years.

Once we have determined that the EB-5 program is correct for you, the next step is to select an EB-5 investment project from the available options. Our EB-5 lawyer will provide project documents to review and discuss any questions about investment projects and job creation opportunities.

EB-Regional Centers

After selecting a project, you must sign the necessary paperwork to commit to funding the project. You must transfer the EB-5 investment amount from $800,000 to $1,050,000 into an escrow account. The transfer ensures that the investment funds are available when needed following the approval of your application.

To reduce the EB-5 processing time, our lawyers ensure applicants follow regulations and submit documents correctly and promptly. The EB-5 lawyers provide you with valuable advice during this process and assist in making sure everything is up to standard.

Finally, you must complete and file your EB-5 application through the EB-5 lawyer. This application can be lengthy and complex, but with the right help and guidance, the EB-5 processing time will be reduced.

EB-5 Forms and Submissions

There are three separate submissions for approval of the EB-5 investment projects. Each submission goes through a review process; thus, the EB-5 visa processing times for each submission can be anywhere from a few months to two years.

The costs for forms and submissions include the following:

• Form I-526E (Immigration Application by Regional Center Investor);
• Form I-485 (Application to Register Permanent Residence or Adjust Status) and;
• Form I-829 (Petition by Entrepreneur to Remove Conditions on Permanent Resident Status).

Form submissions follow the stages throughout the investment process above, and each step carries its own set of costs. We have provided a breakdown of fees for each application or stage of residency:

First stage: Filing Form I-526E

• Initial investment capital total amount (for TEA or infrastructure projects) $800,000 or $1,050,000;
• Initial application fee (paid to USCIS) $3,675 and $1,000 EB-5 integrity fund fee; and
• Other fees in this stage may include attorney’s fees, report writing fees, and money transfer fees.

Second stage: Filing Form I-485 (can be filed concurrently with Form I-526E)

• USCIS filing fees (per family member over age 14) are $1,140;
• USCIS filing fees (per family member under age 14) are $750;
• USCIS processing fees are $490; and
• Attorney and money transfer fees.

Third stage: Filing Form I-829

• USCIS processing fee of $3,750; and
• Attorney’s fees, processing fees, and money transfer fees.

EB-5 Investment Projects and Regional Centers Around the US

The investor will need to invest in an approved EB-5 Regional Center. There are several types of EB-5 regional center programs, and each has its own projects. A Regional Center is a private or public economic entity that is designated by the US Citizenship and Immigration Services (USCIS) to promote economic growth through job creation in a specific geographic area of the US.

EB-5 investment project location may qualify as a targeted employment area (TEA) as determined by USCIS. TEAs reduce the EB-5 direct investment amount to $800,000. Rural TEAs can have up to 20,000 residents, be located in a metropolitan statistical area (MSA), or border a municipality with a population of 20,000 or more people.

A TEA urban area is a high unemployment area located within the boundaries of a metropolitan statistical area (MSA), defined by the Office of Management and Budget (OMB). The projects available constantly are changing and include a variety of investment opportunities.

Types of EB-5 Investment Projects

Regional Centers typically sponsor a variety of investment opportunities that meet the requirements of the EB-5 Immigrant Investor Program, such as creating or preserving at least ten full-time jobs for US workers. Some examples of investments that EB-5 investors can make through Regional Centers include:

• Real estate developments: New commercial and residential projects or refurbishments;
• Infrastructure projects: This can consist of the development of airports, seaports, highways, and bridges;
• Energy projects: In the development of renewable energy sources, such as solar, wind, and hydroelectric power, as well as traditional energy sources;
• Manufacturing projects: The establishment of factories or the expansion of existing manufacturing facilities; and
• Agricultural projects: Investing in the development of farms or the expansion of existing agricultural operations.

Pathway to a US Green Card and US Citizenship

An investor who uses the EB-5 investment projects and is successful in their application has a clear pathway to becoming a US Green Card holder. There are specific background finance checks, and the investment must be sourced legally and cannot be borrowed funds. Investors may use cash or cash equivalents such as certificates of deposit and treasury bonds to obtain this type of immigrant visa.

If the applicant meets all the conditions, the EB-5 immigrant visa holder will be eligible to apply for a US Green Card after two years. The Green Card investment holder can now work towards US citizenship. The program is not a direct US citizenship by investment program, but the EB-5 is far easier than other residency routes to citizenship. After being a permanent resident (holding a Green Card investment) for five years, the investor and their family can apply for US citizenship.

Closing Thoughts on the EB-5

There are potential other Golden Visa or Investment Residence opportunities for investors. Greece and Spain Golden Visas are popular in Europe, while citizenship programs in the Caribbean and Turkey provide second citizenship and passport to investors within months.

We understand that every client has unique needs and goals, and we take the time to understand their priorities before developing a customized strategy that aligns with their objectives. Our commitment to excellence and attention to detail ensure our clients receive the highest service and support throughout their investment migration journey.

Contact us today to schedule a consultation and discover how we can help you achieve your global citizenship aspirations.

FAQs

What is EB-5 Immigrant Investor Residence?

The EB-5 immigrant investor residence is a US residency status from making a qualifying investment in a US business. It allows the investor and their immediate family to obtain an immigrant visa that enables them to live, work, and study in the United States and can lead to a Green Card and US citizenship.

What is the minimum EB-5 investment amount?

The minimum EB-5 investment amount is $800,000 for TEAs and $1,050,000 for non-TEA projects. There are other fees to consider, including legal, form submissions, and the visa application itself.

Is the program a US citizenship by investment?

No, the EB-5 program provides legal residence in the US. Investors and their family members can apply for a US Green card after two years of residency, holding the investment, and creating ten jobs. Applicants can apply ninety days before the two years of living in the US.

Where can I make my investment?

There are specialized EB-5 investment projects that allow applicants to invest in approved projects. The investor must complete the transaction through an EB-5 Regional Center.

What is the EB-5 processing time for investors?

After submitting the I-526 Immigrant petition application, investors can wait two to three years for approval. However, investors can improve their EB-5 processing time by investing in a Rural TEA project.

Can I make a return on my investment?

Yes, the EB-5 program is an actual investment with no donation component. The success will lie in how well the development, business, or project does. Investors can be hands-on or hands-on with their projects. It is entirely up to the applicant.

Is an EB-5 lawyer necessary to be successful?

Investors are allowed to make their applications without the assistance of an EB-5 lawyer. Significant documentation, processing, and a large amount of capital are required. A GRI-qualified EB-5 lawyer will help you navigate the end-to-end process.

The post The US EB5 Visa, Green Card, and Pathway US Citizenship appeared first on Global Residence Index.

In this guide, I will share detailed insights into obtaining the Canada Golden Visa, including strategies to avoid common pitfalls. The process of applying for the Canada residence by investment program can be complex, involving extensive paperwork and numerous challenges.

My journey into this field began years ago, helping clients navigate this intricate process.

Thanks to several years of experience and numerous success stories, my team and I have developed an effective method to streamline the Canada SUV residence application process.

I have written this guide based on our extensive experience and insights, aiming to provide valuable information and practical advice to those interested in moving to Canada via the country’s investment visa programs. Keep reading to discover how you can successfully navigate the path to Canadian residency through investment.

Brief History on Canada Golden Visa Equivalent 

The Canada Start-up Visa program, launched in 2013, aims to attract global entrepreneurial talent to Canada to boost innovation, create jobs, and drive economic growth. This program provides a pathway to permanent residence for qualified immigrant entrepreneurs seeking to launch high-potential startups in Canada. Through this program, immigrant founders can obtain Permanent Resident (PR) status by having their start-up business proposal validated by a designated Canadian organization. 

Once approved, Start-up Visa recipients benefit from mentorship, funding opportunities and a network of business accelerator programs to help establish and scale their ventures in Canada. With faster processing times and flexible eligibility requirements, the Start-up Visa offers a streamlined route for ambitious entrepreneurs to gain PR status while building innovative companies and contributing to the Canadian economy.

Eligibility for Canada SUV 

The North American and Commonwealth Realm country enjoys a global reputation as a highly desirable place to reside, offering its citizens a host of exceptional advantages that set it apart from many other nations. 

Moreover, Canada has emerged as an appealing hub for aspiring founders and entrepreneurs, courtesy of the alluring Canada Startup Visa (SUV) Program implemented by the Federal government.

Below is the list of requirements as set by the Canadian immigration authorities for entrepreneurs who wish to apply for permanent residence in Canada under the SUV program:

• Foreign nationals must get a Letter of Support or investment commitment from one of the Designated Organizations in Canada;
• Each foreign national must own at least 10% of the shares in the startup. Foreign nationals and their Designated Organization must jointly have more than 50% of the total shares (voting rights) in the startup venture;
• Each applicant must meet the minimum English or French language skill at CLB level five and
• Each applicant must have sufficient funds to settle in Canada (CAD$12,960 – $34,300, depending on the size of the applicant’s family).

In addition to the above, to be successful in this program, entrepreneurs should be prepared to meet the following essential criteria:

• Ownership of an innovative or successful business that is generating scalable and sustainable revenue or has strong market validation;
• Access to capital fund the entrepreneur, investor startup venture, between CAD$75,000 to CAD$200,000 at a minimum per applicant;
• Have highly specialized knowledge or unique experience in a field or have solid managerial experience; and
• Have an upper-intermediate level of English or French language skill(s).

Costs for the Canada SUV

There are fees involved, and it will cost around CAD$50,000 for a family of four for legal, administrative, government services, and residence requirements. As described above, the cost to participate in the program will be around CAD$200,000. 

Sometimes, clients do not pursue the business and classify their investment as a sunk cost to obtain Permanent Residence (PR) with citizenship, which is very attainable for themselves and their families. 

If the applicant opts for the designated organizations for the Canada residency by investment, the cost to obtain residence will be around CAD$250,000. It is important to note that the program is not a classic passive investment Golden Visa. The costs can be non-recoverable depending on the success of the business. 

Designated Organizations

If the entrepreneur, investor, or executive does not have the required capital, they can seek funding from a Designated Organization. 

Designated organizations are instrumental in the Canadian Startup Visa program for investors. The Canadian government approves these organizations to support and nominate foreign entrepreneurs for the Canada Startup Visa program.

Angel investor groups

Angel investment funds within the framework of the Canadian Startup Visa (SUV) program assume a pivotal role by offering essential financial support and mentorship to burgeoning entrepreneurs from across the globe. 

Angel investors infuse capital into these enterprises and provide invaluable expertise and guidance to steer entrepreneurs toward success within the dynamic Canadian market.

The minimum investment required for the Angel Investment Groups is $75,000. It should be noted that these investments are high-risk and could lead to losses in capital. We work closely with the Designated Organizations as the risk exposure is lower but does not guarantee a return on investment. 

Step-by-Step Process

There are several crucial steps to apply for the Canadian Startup Visa program. First, appointing an authorized representative to submit the application on the applicant’s behalf is essential, ensuring the process is well-managed and organized. The initial process starts with an initial screening and basic KYC. 

1. Language Requirement

Provide proof of language proficiency and gather other required personal documentation, which is vital for the application. Language must be in English or French at a CLB level five.  

2. Certificate of Commitment

Another critical step is obtaining a commitment certificate or letter of support from an angel investor group, venture capital fund, or business incubator, as this endorsement is a fundamental aspect of the program. These groups are known as designated organizations. 

To obtain a letter of support from a Designated Organization, one can follow the key steps below:

• Prepare a Pitch Deck (business concept) or a Business Plan;
• Submit the application to a designated organization for review and evaluation;
• Undergo an interview with a designated organization;
• Sign an agreement with the designated organization;
• Pay the fees for the designated organization;
• Obtain a Letter of Support from the designated organization; and
• Submit the final application for permanent residency and work permit residence.

3. Submission

Finally, submitting the application form, supporting documents, and the necessary fees is the last critical step in the investor’s journey to pursuing the Canada Startup Visa. When followed meticulously, these steps pave the way for aspiring entrepreneurs to explore business opportunities in Canada.

• The typical processing time for the work permit application is eight to twelve weeks, and
• The current processing time for the permanent residency application is 33 months.

The applicant can grow their startup and business in Canada if all requirements are satisfied and the necessary documentation is provided. IRCC states that the SUV program has a general success rate above 75%.

The rate of approval varies depending on the type of designated organization:

• 78% – for startups that are supported by business incubators;
• 80% – for startups that are supported by angel investor networks;
• 43% – for startups that venture capital funds support.

It is essential to have experts in Canada with an incredibly high success rate of approvals for clients who apply for the SUV residence program.

Action Plan to Prevent Failure of Application  

Prevention is better than failure, and an action plan can reduce the risk of rejection of an application. 

1. Failing to Provide Accurate Financials 

Applicants must provide proof of finances and have the financial means necessary to maintain a business and the cost of living in Canada.

2. Failing of International Security Clearance

Police clearance forms must be obtained, and a background check must be conducted and passed for an applicant to be considered. Before granting entry to Canada, the applicant must prove that they will not be a security risk if admitted into Canada.

3. Failing to Fulfill Health and Language requirements

Applicants for the SUV must pass a health check to ensure that they are not a danger to public safety or public health or that there is an excessive demand for available social or health services. This will generally require performing an immigration medical exam with results included with the application and failing to prove Canadian language competency in French or English at a CLB level five. 

4. Failing to Include a Letter of Support

This requirement must be met before an applicant begins completing the application process. The letter must come from an official Designated Organization. 

5. Misrepresentation

Finally, one of the surest ways to cause the application to be denied is by misrepresentation, altering documents, or otherwise.

Benefits of the Canada Startup Visa Program

Below are some of the pros of the SUV program:

• A direct pathway for permanent residence in Canada;
• Open to all nationalities;
• There are no limitations on business activities in Canada;
• No net worth requirement or verification;
• Allows for a partnership of 5 individuals in the same startup (min. 10% of ownership for each partner is required); and
• Opportunity to relocate to Canada by obtaining a work permit while the permanent residence application is processed.

Dependents may join the primary applicant. The applicant’s spouse and children may qualify as dependent family members in the SUV application. Note that children of the applicant may qualify as dependants if they:

• are under 22 years old; and
• don’t have a spouse or partner.

There is no residence requirement under the Canada SUV program. However, since the program requires that the applicant provides active and ongoing management, it would make sense that the applicant may be required to stay in Canada to satisfy these requirements and allow their capital to work for them. 

Investors who wish to become citizens of Canada must meet the naturalization requirements described further below. 

Disadvantages of the Canada Startup Visa Program

Below are some of the cons of the SUV program:

• There is high competition to obtain support from designated organizations in Canada. Thus, it can take time to get such support;
• Lengthy processing times (three years) to obtain permanent residence. Although obtaining initial residence permits will take;
• High capital investments by the founding partners are often required to secure support from a designated organization;
• An extremely well-developed, viable, and scalable business model with a proven track of success; and
• There is a moderate risk of refusals at the permanent residence stage or delays due to peer reviews.

Good Case Management

Applicants can avoid denials by following the instructions carefully, using the required document checklist in the application packet, and ensuring that all application requirements are complete before submission. 

That being said, it is best to use professional guidance to build a case file on the client’s behalf. Paperwork and administrative work can be cumbersome to complete, so having a professional in the case management process is money well spent.  

Avoid Using Unregulated Immigration Consultants or Visa Agents

It is also essential to avoid advice from unregulated consultant firms offering free visa evaluations or guaranteed employment opportunities. Fraudulent activity by these organizations often results in application denial and theft of identity, banking, and credit card information.

Due diligence can go both ways, and clients must be able to rely on and trust their agents fully. 

Path to Permanent Residency (PR) and Citizenship in Canada

Although the Canada Startup Visa is not a Canada citizenship by investment program, it can be semi-classified as a Canada Golden Visa. Based on maintaining a residence, the applicant does not have a physical presence requirement. However, the pathway to citizenship is different. 

1. Work Permit Application

The first step for entrepreneurs selected under the SUV program is to apply for a work permit. This work permit allows them to enter Canada and establish and manage their startup business. The typical processing time for a work permit application is around eight to twelve weeks.

2. Operate the Business

Once in Canada with a valid work permit, entrepreneurs can work on establishing and operating their businesses. This includes meeting the conditions the designated organization sets and the commitments made in the business plan.

3. Permanent Residency Application 

After establishing and operating their business, entrepreneurs can apply for permanent residency through one of the available immigration programs, such as the Express Entry system or the Provincial Nominee Program (PNP), depending on the province where their business is located. The processing time for the permanent residency application can vary but is approximately thirty-three months.

4. Becoming a Permanent Resident

Once the permanent residency application is approved, the entrepreneur and their family members become permanent residents of Canada. This status grants them access to various social benefits and healthcare, and they can live, work, or study anywhere in Canada.

5. Residency and Citizenship 

To become eligible for Canadian citizenship, permanent residents must meet specific residency requirements, including physical presence in Canada. After completing these requirements, they can apply for Canadian citizenship. Typically, individuals must have spent at least 1,095 days (three years) out of the last five years in Canada before applying for citizenship.

6. Canadian Citizenship 

Upon approval of their citizenship application, individuals become Canadian citizens. Canadian citizens have all the rights and responsibilities of citizenship, including the ability to vote in federal and provincial elections and travel with a Canadian passport.

Canadian citizenship allows the resident to obtain a passport for travel. As of October 2023, Canadian citizens have visa-free access to 119 countries and territories, can obtain a visa on arrival in 26, and can enter with an e-visa 38 countries and territories and require a visa for 23, ranking the Canadian passport 6th in the world in terms of freedom of travel. 

What are the Next Steps?

The Canada investment visa, Permanent Residence (PR), and subsequent Canada citizenship by investment through the SUV program are famous for several reasons. Canada is an open society and welcoming of investors, entrepreneurs, and persons willing to invest capital or time into their economy. 

Connect with us for a personalized consultation or if you have any questions. We’ll be on hand to assist. 

Canada Investment Visa FAQs

What is the total cost estimate for the Canada residence by investment SUV program? 

Investors can estimate a cost of around CAD$250,000 for the program. 

Is there an interview before obtaining Permanent Residence (PR)?

Yes, there will be an interview at the IRCC office in the country, or at port of entry when applicants arrive in Canada. 

Do I obtain Permanent Residence (PR) immediately? 

No, initially, investors obtain a work permit within two to three months. The Permanent Residence (PR) takes between thirty to thirty-six months. 

Is the SUV program a Canadian citizenship by investment program?

No, although it can be seen as a Canada Golden Visa program. The pathway to citizenship requires living in Canada for at least 1,095 days within five years. 

The post Canada Residency By Investment, Startup Visa, Golden Visa, & Investor Visa appeared first on Global Residence Index.

Below is a guide about the program. For a more personalized consultation regarding the different investment options available under the HQA visa, please don’t hesitate to contact our team of experienced consultants. We’re here to assist you in navigating this journey with tailored advice and insights.

Understanding the Program’s Essentials:

Cost-effective and Flexible Residency Option: The Portugal HQA Visa offers a streamlined path to EU residency and eventual citizenship, demanding a reasonable investment starting from just EUR 170,000. This program is designed for those seeking a cost-effective solution to reside in the European Union.

Residency Timeline: Upon application, residency is granted initially for two years, extendable for another three, leading to the option of permanent residency after five years. This structured timeline provides clarity and stability for applicants.

Citizenship Eligibility: After five years of residency under the HQA residency visa, applicants become eligible to apply for permanent residency or citizenship citizenship, opening doors to a life in the European Union.

Why Consider the Portugal ‘Highly Qualified Activities’ Visa?

Family Inclusive: One of the key benefits of this program is its inclusivity for your entire family, ensuring that your loved ones can also enjoy the benefits of EU residency.

Business and Investment Opportunities: Portugal’s thriving startup and investment landscape offers abundant opportunities. By opting for the HQA Visa, you gain access to a network of local talent and investment possibilities, enriching your entrepreneurial journey.

A Safe and Secure European Lifestyle: Choosing the Portugal HQA Visa ensures security in various aspects such as banking, property ownership, and business operations within the European Union’s stable environment.

Ideal for Leaders and Innovators: This program is particularly suited for top-level executives, entrepreneurs, business owners, and cryptocurrency experts seeking to expand their horizons in the EU.

Active vs Passive Investment Options

The Portugal HQA Visa offers two distinct pathways:

• active engagement through the start-up visa; and
• passive investment in qualifying projects.

For the active route, applicants participate in an incubation program, aiding in setting up a company in Portugal. This involves meeting business performance requirements and potentially leads to permanent residency or citizenship. Support from a business incubator and an advisor is key, especially in understanding local business dynamics and tax rates.

Alternatively, those preferring a hands-off approach can opt for passive investments in qualifying projects. This option suits applicants who wish to invest in Portugal’s economy without the day-to-day involvement in running a business. Both paths offer unique benefits and lead towards residency and citizenship in Portugal.

For more detailed information on concrete investment options, we encourage you to contact us. Our team is ready to guide you through the various pathways to obtaining your HQA visa in Portugal.

Aligning with EU’s Vision to Attract Global Talent

A Program with a Purpose: The HQA Visa Program is not just a residency and citizenship pathway — it’s a vital part of the European Union’s strategy to attract global talent. This initiative is tailored to enrich Portugal’s talent pool by welcoming entrepreneurs, investors, and senior executives from around the world.

Targeting the Innovators and Leaders: At the heart of the Highly Qualified Activities Program is the goal to draw in individuals who can contribute significantly to Portugal’s growing economy. Whether you’re an entrepreneur ready to embark on your next venture, an investor looking for new opportunities, or a senior executive aiming to expand your professional footprint, this program offers the perfect platform.

A Unique Collaboration with Portuguese Universities: What sets the HQA Program apart is its unique approach to residency. Eligible applicants engage in a contractual agreement with a Portuguese university, contributing to research and development, particularly in startup environments. This collaboration not only facilitates your residency in Portugal but also immerses you in Portugal’s innovative academic sphere.

Advantages for Entrepreneurs, Investors, and Executives Under Portugal’s HQA Visa Program

Seamless EU Residency and Citizenship Pathway: The Portugal HQA Visa offers a straightforward route to EU residency, paving the way for citizenship. This program stands out for its simplicity and effectiveness in integrating applicants into the EU framework.

Visa-free European Travel: Enjoy the freedom of movement and visa-free travel within the European Union, a benefit that extends to the entire Schengen Area, offering unparalleled mobility and convenience.

A Secure and Neutral First-World Jurisdiction: Portugal’s reputation as a safe, stable, and neutral jurisdiction makes it an ideal destination for business and personal life. This aspect is particularly appealing to those seeking a secure environment for their ventures and families.

Attractive Tax and Banking Benefits: Leverage Portugal’s favorable tax regime, including the Non-Habitual Resident (NHR) tax program, designed to offer significant tax efficiencies. The banking system in Portugal is robust and entrepreneur-friendly, offering a range of incentives.

Dual Citizenship Acceptance: Portugal allows dual citizenship, offering flexibility and ease for those looking to expand their global presence without giving up their original nationality.

World-Class Healthcare and Safety: Benefit from Portugal’s robust healthcare system and enjoy a life in one of the countries with the lowest crime rates in Europe, ensuring a safe environment for you and your family.

Enviable Lifestyle: Relish Portugal’s sunny climate, stunning coastline, rich cultural heritage, and world-renowned cuisine, offering an unmatched quality of life.

Other Program Benefits: What Sets the Portuguese HQA Program Apart?

Flexibility in Residency: Contrasting with the D7 visa, which mandates full-time residence in Portugal for status maintenance and citizenship eligibility, this program provides greater flexibility for those who travel frequently.

Efficient Processing and Timeline: Experience swift and hassle-free processing of your application, ensuring you receive your residency and ID card without unnecessary delays.

Streamlined Customer Experience: Benefit from a premium migration service, characterized by a white-glove approach, ensuring a seamless and straightforward experience.

Cost-Effective Solution: The Portugal HQA Visa program requires a lower capital investment (€170,000) compared to alternatives like the alternate Portuguese Golden Visa (€500,000 for qualifying fund investments), making it an economically attractive option.

Gateway to an EU Passport: While the HQA is not a direct citizenship by investment program, it can be considered an indirect one. After five years of holding the visa, you can apply for Portuguese citizenship status. The passport opens doors to global mobility and a lifestyle in the European Union, enhancing your personal and professional opportunities.

Access to European Society: Embrace the opportunity to integrate into European society, benefiting from its rich cultural, economic, and social landscape.

An Overview of Costs and Steps

Understanding the Financial Commitment: The total cost for participating in the HQA Program is €170,000, structured in three payments:

1. Initial Payment: A €10,000 non-refundable fee to initiate the process and schedule an appointment with SEF (Serviço de Estrangeiros e Fronteiras).
2. Second Payment: €80,000 due upon successful appointment with SEF, refundable until the third payment.
3. Final Payment: The remaining €80,000 is payable upon successful receipt of your residence ID, refundable until the renewal of residence after two years.

HQA Visa Application Process:

Step 1: Preliminary Assessment: Begin with a due diligence and compliance assessment to ensure eligibility for the program. Key documents required include a passport copy, proof of address, and your CV or professional qualifications.

Step 2: Online Assessment Meeting: Participate in an online meeting or interview with the university, forming a crucial part of the assessment process.

Step 3: Concluding the Service Agreement: Upon pre-approval by the university, conclude a service agreement that includes:

• A) Facilitating Program Participation: Assistance in arranging program participation and facilitating agreements with the university. Options include investing in startups, conducting R&D for investment, or using infrastructure for R&D to launch into Portugal and Europe.
• B) Immigration Services: Comprehensive immigration assistance for you and your family.

Step 4: SEF Appointment Scheduling: Schedule an appointment at SEF or the Portuguese consulate, depending on your access to the Schengen Zone. Collect necessary documents, including your CV, non-criminal record certificate, contract with the university, proof of financial funds, and proof of accommodation.

Step 5: Submitting Your Application: Submit your complete file at SEF for processing. Residence permits are typically processed within 2 to 12 weeks, initially issued for a period of two years.

Step 6: Residence Permit Extension: The extension of the residence permit after two years is contingent upon confirmation from the university regarding the validity of the contract. Following this, the permit is extended for an additional three years, after which you become eligible for permanent residence and citizenship.

Need Guidance? We are here to help you.

If you’re feeling overwhelmed by the complexity of navigating the Portuguese HQA visa, you’re not alone. Many find it challenging to obtain clear and accurate information in the vast sea of options. We understand these hurdles and are here to offer clarity and reliable guidance. By signing up for a consultation with our experienced team, you’ll gain access to personalized advice tailored to your unique situation. We are ready to help you simplify the process and make informed decisions with confidence and ease.

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