What is a golden VISA and how can South Africans qualify?
It’s good news if you’re a South African looking to secure a golden visa. Here’s what you need to qualify and where you can go.
Golden visa or no, at the end of the 2023 Rugby World Cup Jacques Nienaber is off to Ireland. Many South Africans are seeking similar golden visa opportunities for their family. The good news is, despite our current economic challenges, Saffas with the means are still spoilt for choice.
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Immigration experts Sable International, say key concerns when choosing a golden visa should be the following:
- How many and which family members do you want to include?
- What is your budget?
- How much time do you want to spend in the destination country?
- What benefits are you seeking?
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GOLDEN VISA DESTINATIONS
Sable International has made a list of its top golden visa destinations. In no particular order, here they are:
PORTUGAL – MINIMUM INVESTMENT: €500 000 (R10 MILLION)
Reports of Portugal’s golden visa’s demise have been exaggerated. True, it no longer offers a real-estate investment path to residency, but there are still many options. Portuguese residency has long been a top choice for South Africans because it enables visa-free travel throughout the Schengen area.
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Best of all, your investment towards your golden visa is 100% towards your personal investment, there is no government donation. There is a minimum stay of 35 days over five years (average of one week per year) though.
GREECE – MINIMUM INVESTMENT: €500 000 (R10 MILLION) IN REAL ESTATE
After the financial crisis of 2009, Greece has seen a remarkable economic recovery. Good news for golden visa applicants, which grants a long-term residence permit for as long as you maintain ownership of a qualifying property.
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The golden visa provides a route to naturalisation and EU citizenship after a minimum of seven years living in Greece. However, there’s no requirement to relocate and no annual minimum stay for the residence permit. And you still get visa-free travel throughout the Schengen states.
MAURITIUS – MINIMUM INVESTMENT: $375 000 (R7.1 MILLION) INVESTMENT IN APPROVED PROPERTY
Sable International says many South Africans choose to invest in a golden visa to Mauritius due to its proximity to South Africa for work/travel. Mauritian residency permits can be approved in as little as three months and, as with Greece, the residency permit remains valid for as long as the property is owned. There are no minimum-stay requirement either.
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Mauritius offers first class healthcare, education and infrastructure as well as an attractive tax and business environment. If that was not enough, according to the World Happiness Report 2023, Mauritius is the highest-ranking African nation.
GET EXPERT GUIDANCE
There are plenty of requirements and ramifications to secure your golden visa to any of the above countries, and others. Get in touch with end-to-end specialists like Sable International for the best advice. You can contact them via email at: im@sableinternational.com.
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