Globalisation has made it easier than ever to go and live abroad. Cheap flights, developments in communication, the growth of multinational companies, to name just three positive factors. There are barriers too, but these often come down if you have enough money. Here we look at your visa options if you are able to invest in a country.
One of Canada’s biggest property websites recorded a 40% rise in the number of enquiries from the USA in the last three months of 2016 compared to the previous year. Many wanted to go even further: a record 13,400 Americans applied for residency in New Zealand in the week after President Trump won the US election, which is 17 times the usual number. There were reports that America’s super-rich were buying up large chunks of New Zealand as a hedge against America’s foreign policy being unpopular.
With retirement within the European Union a little more uncertain since the Brexit vote, many more British people are applying too – Property Guides recorded a 25% boost in guide downloads for Canada in the summer after the referendum. Moving to the traditional expatriate destinations is not so simple, however. These are popular countries and they have erected high barriers (if not actual walls) to prevent unlimited immigration. Some refuse entry to older people unless they make a huge investment. Others allow older people in but don’t offer investor visas.
Some refuse entry to older people unless they make a huge investment. Others allow older people in but don’t offer investor visas.
Here we outline the most popular visa options for the five most popular countries beyond the EU for emigration. How much will the visa cost and how does the whole process work?
Is it time you joined the emigration rush?
Process for applying
Applying for a golden visa or investment visa differs depending on country and there are associated fees that apply. A commitment to an investment is almost always required before application. Seeking legal advice and assistance with the application is always recommended. Generally a passport, criminal record check, health clearance, birth certificate, marriage certificate and education certificates are required. In some cases language proficiency, business experience, proof of income and references are also needed. For programmes that require property investment, additional costs associated with the purchase of property should be expected.
If you have enough money and no criminal record, you can move just about anywhere!
Although you can apply directly, many individuals will find applying for investment visas is easier via an agency. Agencies provide expertise and help to facilitate and administer the often complicated and lengthy process, but they will tend to focus on the easier applications and may be unnecessarily discouraging to any non-standard applicants. Remember, if you have enough money and no criminal record, you can move just about anywhere!
Australia
Sydney’s Botanical Gardens and Business District
Key Features:
– Five streams: Investor, Business Investor, Significant Investor, Premium Investor and Entrepreneur
– Permanent residency after provisional period
– Family residency granted
– Right to work and travel in and out of Australia
– Restrictions on property purchases
Investors wishing to gain residency in Australia can apply for the Business Innovation and Investment (Provisional) Visa which grants temporary residency with rights to later apply for permanent residency and eventual citizenship. Visa applicants can choose from five streams. The business investor stream does not require any initial investment however applicants need to prove they intend to establish, develop or manage a new or existing business in Australia. The investor stream requires an investment of AUD 1.5 million (£922,500) in an Australian state or territory. The significant investor stream requires AUD 5 million dollars (£3.07 million) of investment and the premium investor stream requires a AUD 15 million (£9.2 million) investment. Finally, there is an entrepreneur stream which requires a $200,000 (£123,000) investment in a start-up or entrepreneurial activity.
All streams provide residency for family members and permit work and travel to and from Australia. In July 2015 the visa criteria was changed forcing applicants to invest in riskier assets like venture capital and emerging assets. Foreign buyers are restricted to buying new construction unless they intended to reside in the premises permanently in which case they may be eligible to purchase re-sale housing.
To apply for the visas an online expression of interest must be submitted through Australia’s Skillselect program. Those applying for the Business Innovation and Investment Visas must be nominated by the state or territory for which the investment is intended. Australia is a very attractive country for investors. The robust and steady economy, world-class cities and desirable climate make it a sought-after place to invest and settle.
Visit the Australian Government’s official immigration website to discover how to start your application.
For more information about living in Australia download the FREE Australia Buying Guide by clicking here.
Canada
Vancouver, Canada
Key Features
– Investment visas have been closed throughout most of Canada since 2014
– The province of Quebec has an investment visa which required CAD $800,000 (£487,500) investment
– Citizenship available after four years
– No age, language or education requirements
Canada’s investor visa programme ended in 2014. The retired residency by investment program granted residency to investors of real estate over CAD $800,000 (£487,500). It was very popular, especially with Chinese investors, and the Canadian government has since closed the programme as well as putting up other barriers to foreign home ownership in Vancouver.
The province of Quebec does offer an Investment Immigration Visa, however. This requires an investment of CAD $800,000 (£487,500) with the Canadian and Quebec Government. Applicants must have a minimum of $1.6 million of worldwide net worth and must have owned or managed a company for two of the last five years. The visa allows for permanent residency and citizenship after four years.
Contact the Canada Border Services Agency to discover how to start your application.
For more information about living in Canada download the FREE Canada Buying Guide by clicking here.
USA
Florida homes
Key Features:
– Business investment of US $500,000 (£400,000)
– Permanent residence plus green card after two years
– Residency requirements
– Access to work, education and health care
– Possible changes coming to this visa scheme
The Unites States most common scheme is the EB-5 Investor Visa which gives foreign investors residency in the USA after an investment of USD $500,000 (£400,000). The investment must be in a commercial business or put towards a business with plans to employ 10 permanent full-time workers. Successful applicants are granted permanent residency and a green card after two years. Although currently in effect, the future of the investor visa scheme is unknown. The EB-5 Investor Visa scheme was renewed in December 2016 for four and a half months, leaving the decision to keep the program (which is laden with controversy) with President Donald Trump. There is some speculation the minimum investment requirement may increase to US $1.3 million (£1.03 million).
For those seeking residency in the United States the EB-5 Investor Visa Pathway is currently the best method. The United States offers a plethora of business opportunities, a high standard of living and real estate opportunities from coast to coast. With Donald Trump’s recent inauguration there are more unknowns surrounding the US political and economic environment which may affect the number and eligibility of foreign investors obtaining US residency in the future.
Visit the US Government’s official immigration website to discover how to start your application.
For more information about living in the US download the FREE USA Buying Guide by clicking here.
New Zealand
Wellington, New Zealand (Curioso / Shutterstock.com)
Key Features:
– Investor, Investor Plus Visa and Entrepreneur Visa
Investments starting at NZ$100,000 (£57,700)
– Family residency
– Some resident requirements
– Safe and stable country
New Zealand is one of the safest and most environmentally pristine countries in the world. There are three main visas in New Zealand that circumvent the usual work permit rules: the Investor Visa, the Investor Plus Visa and the Entrepreneur Visa. The Investor Visa requires a NZ $1.5 million (£865,600) investment over four years. Residency requirements for this visa include 146 days spent in New Zealand in the last three years of a four-year investment period. Applicants must have a minimum three years business experience, have a proficient level of English and be under the age of 65. Family members are also granted residency under this Visa.
The Investor Plus Visa requires a NZ $10 million investment (£5.7 million); 44 days spent must be spent in NZ in each of the last two years of a three year investment period. There are no additional requirements for this visa. Investments can be mixed funds/ assets.
Entrepreneur visas are another pathway and allow business people to migrate to New Zealand to buy or establish a business. There is a minimum capital investment of NZ$100,000 (£57,700) for this visa.
Visit the New Zealand Government’s official immigration website to discover how to start your application.
For more information about living in New Zealand download the FREE New Zealand Buying Guide by clicking here.
South Africa
Capetown, South Africa
Key Features:
– No investment required
– A proven net worth of R 12 million (£742,000)
– No residency requirements
– Right to live, work and travel in South Africa
– Permanent residency granted
High net-worth individuals wishing to gain residency in South Africa can apply for a Financially Independent Permit. This permit allows individuals to gain residency in South Africa by proving they have a net worth of R 12 million (£742,000). There is no investment requirement with this visa and applicants are able to work, study and manage their business while in South Africa without any minimum residency requirements (applicants must simply enter South Africa once every three years). The processing time for the permit is around eight months at which time successful applicants are granted permanent residency.
Contact the South African Department of Home Affairs to discover how to start your application.