Singapore is seen by the European Union (EU) as a vital financial partner in Southeast Asia. Among the members of the Association of Southeast Asian Nations (ASEAN), Singapore is the EU’s most significant economic partner, as well as one of its top worldwide partners. The Singaporean government is optimistic about its relationship with the EU, pushing Singaporean entrepreneurs to pursue prospects of foreign investment in Europe and invest in a Golden Visa. Despite the obstacles posed by Covid-19, Singapore’s connections with the EU have grown and are anticipated to continue to develop in the coming years.
Due to Singapore’s cooperation with EU nations, a large number of Singaporean investors have been able to get visas through foreign investment that will allow them to stay in an EU country and travel freely around the continent. There are many Singaporeans residing in the EU and vice versa. There are various resources to assist with the expatriation process, and there are several agencies that cater to expatriates. A majority of expatriates have a positive relationship with their host nation. However, Singapore does not allow dual
What is a Golden Visa
A Golden Visa is an investment-based citizenship or residence scheme, and is the preferred option for affluent Singaporean entrepreneurs who wish to lawfully reside in Europe through foreign investment, as Singapore does not allow dual citizenship. The Golden Visa program offers a fast track for Singaporean investors who wish to invest in real estate in exchange for a residence permit that allows them and their family to live, work, and study in Europe. Singaporeans who apply for a Golden Visa can also apply for residency permits for their immediate family (spouse and children). These residency permits may be renewed forever as long as the investment is maintained. In most situations, being physically present in the nation that granted the Golden Visa is not required.
Some countries which Singaporeans prefer to invest in Golden Visa Programs are Spain, Greece, and Portugal.
Welcome to Spain for a better quality of life
Most expats will discuss the quality of life in Spain if you ask them. There is a widespread belief that life is meant to be enjoyed. This mood encompasses chatting over coffee with a friend, Sunday meals with family, and siestas. Climate, natural beauty, and cost of living are all positive factors. Then, there are the kind and friendly Spaniards themselves.
The holders of the Golden Visa Spain and their family members will be able to live and work in Madrid, Mallorca, or anywhere else in the nation, take advantage of the Spanish educational system, and travel freely throughout the Schengen region.
This residence option generally takes 60 days to complete, with no minimum length of time in Spain necessary to benefit from all privileges provided, as long as the investor picks one of the following investment options:
- A real estate investment of at least €500,000 is required.
- A €1,000,000 investment in Spanish company shares or business
- An investment of €2,000,000 in Spanish government bonds
- A €1,000,000 money transfer to a Spanish bank account
When it comes to choosing a place to reside in Spain, Madrid and Barcelona have a substantial edge over other regions, ensuring your company’s success with the millions of tourists that visit the two big cities each year. Locals, visitors, and people from adjacent nations are plentiful throughout the year, making Madrid and Barcelona important market sites that assure development despite the ongoing Covid-19 pandemic.
Greece: the hospitable and low cost of living country for foreign investors
Greece has been dubbed the “new hot investment destination” due to its cheaper costs compared to other nations and consistent real estate value rise. Foreign entrepreneurs may discover a new site for their business as well as a desired place to live with the Golden Visa Greece – stunning landscapes, ideal Mediterranean weather, and an exceptionally low real estate market value.
With a minimum investment of €250,000 and a 60-day approval procedure, Greece is the cheapest of the three choices for real estate. The permit will allow the investor and their family (spouse, children under the age of 21, parents, and in-laws) to enjoy the ideal temperature amidst breathtaking scenery. Within the country’s 2,000 islands, there is a fantastic business potential for entrepreneurs looking to expand their horizons. The following are some investing opportunities for Golden Visa Greece:
- Purchase of €250,000 in real estate to be kept for the term of the residence and for a minimum of 5 years.
- Lease a €250,000 real estate or timeshare for the duration of your stay, with a minimum of 5 years.
Portugal: Forecast as the country to watch over the coming 50 years
Portugal is on of the finest places to spend your future because of its inexpensive lifestyle, excellent safety rating, and high-quality professional healthcare. Portugal provides a high quality of life without sacrificing certain pleasures; for example, a full lunch in a local restaurant may cost less than €5, which is shockingly inexpensive when compared to other nations such as Australia, New Zealand, or the United Kingdom. Portugal is a fine option for anyone looking to live in an area of Europe that provides the ideal Mediterranean lifestyle: sunny summers and moderate winters, beautiful beaches, and mouthwatering cuisine.
The Golden Residence Portugal program, which requires a minimum investment of €280,000, allows families to work, live, and study in Portugal while experiencing the Mediterranean lifestyle in one of the world’s nicest and safest nations. In comparison to Greece, there are more investment opportunities, which opens the door to more foreign investors. These include:
- A real estate investment of €500,000 has been made.
- For €350,000, purchase a property in an urban area that is more than 30 years old or located in an urban redevelopment region.
- For €280,000, you may buy a property in a rural region that is more than 30 years old or in a rural regeneration area.
- Investment of at least €350,000 in a private equity fund
- Creating ten full-time jobs at a Portuguese company
- A national scientific and technical system investment worth €350,000 in research in recognized institutes.
- Investment of €350,000 in a Portuguese-registered business.
These three well-known European Golden Visa Programs all have a similar application process. Orience’s specialists can assist you in determining the optimal investment strategy. After you’ve decided on the location and investment choice you wish to pursue, you’ll need to submit all legal paperwork as well as a residency application. Your residency permit will be provided when your application has been reviewed and approved.