UAE, US, New Zealand And More - 5 Countries That Offer Golden Visa And How Much Do They Cost

(MENAFN- Live Mint) The United Arab Emirates government has started a brand-new Golden Visa for Indians, which will be based on nomination, as opposed to spending large sums of money on buying a property or investing in the country.

India and Bangladesh have been selected for the first phase of testing this visa, and a consultancy named Rayad Group has been chosen to test the initial form of the nomination-based golden visa in India.

What is a golden visa?

Golden visas are often popular among those who want to leave their country and settle abroad permanently.

A golden visa gives high-net-worth individuals (HNWIs) the option of physically relocating to a country of their choice either right away or after their retirement.

When they acquire the golden visa, these HNWIs become residents of that state with full legal rights, including the right to live, work, study, and receive healthcare in that country.

In its most basic form, golden visas are associated with residence by investment and have different names in different countries.

5 countries offering golden visa

Golden visas are offered by a number of countries including the US, UAE, New Zealand and more under different programmes.

Here are five countries that offer golden visa and their costs:

UAE

UAE's new Golden Visa for Indians will be based on nominations. Applicants seeking the UAE Golden Visa under the nomination category may obtain pre-approval from their home country without the need to visit Dubai.

Cost: Under the“new nomination-based visa policy,” Indians can now enjoy the UAE's Golden Visa for life by paying a fee of AED 1,00,000 (around ₹23.30 lakh)

United States

Donald Trump, after becoming the President of the United States in January, announced the Trump Gold Card Golden Visa to wealthy individuals wanting to invest in the US in exchange for permanent residency.

Cost: While the Trump Gold Card visa is currently placed on hold, this US golden visa costs $5 million.

Also Read | Does Trump's $5 million gold card guarantee American citizenship? Check here New Zealand

New Zealand announced its new golden visa - Active Investor Plus Visa - in September 2022. It allows applicants to live, work, and study in the country indefinitely, as long as they have met all the investment and time-in-country requirements.

Cost: The minimum investment for New Zealand's Active Investor Plus Visa starts at NZD 5 million.

Also Read | UAE launches nomination-based Golden Visa – Here's all you need to know Canada

Canada's golden visa program is called Canada Start-Up Visa Program. It provides permanent residence to entrepreneurs and active investors in companies and expanding businesses that seek to establish a presence in Canada.

Cost: The cost to acquire Canada's start-up golden visa, inclusive of all fees, is $215,000 to $275,000, depending on the start-up business.

Also Read | What is the EB-1 Visa that has gained spotlight? All you need to know Singapore

Singapore, one of the most popular countries for businesses, has its golden visa program named the Singapore Global Investor Program. It is made for foreign entrepreneurs, business owners, and managers who are interested in starting a business or investing in Singapore. Successful applicants receive their permanent residence in 9 to 12 months

Cost: The investment cost starts at SGD 10 million and can go up to SGD 50 million depending on the business and its size.

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