When I was younger, I had zero knowledge of golden visas and what it meant. It sounded like a lottery, or a golden ticket to Willy Wonka’s Chocolate Factory.
The Golden Visa Concept
Golden visas are visas from certain countries that grant you instant citizenship or the right to stay in the country, given certain prerequisites, most often involving a significant financial investment. This investment could take the form of buying a house in that country with a minimum purchase amount usually beyond the means of the average person. For example, it might require purchasing a $5 million property in Spain or in Bali. Alternatively, it could involve simply making a substantial payment to the country. Each country has its own requirements for obtaining a golden visa, but regardless, the perks remain the same: certain tax privileges and the right to live in that country regardless of your place of birth. No skills assessment or language proficiency test required — it is usually the power of money that determines your eligibility.
The VIP Backdoor
Coming from a relatively poorer third-world country, I had to jump through multiple hoops and face demeaning processes just to be considered for immigration to other countries. I underwent skills assessments to prove that I met their standards, as well as language proficiency tests to demonstrate my ability to communicate in English at the desired level. It often felt like applying for a job where I constantly had to prove my worth. Little did I know, there was a backdoor — a golden backdoor.
Money is a neutral way of indicating value. The more skilled or in-demand you are, the more money you tend to accumulate. The primal rule of economics is the law of supply and demand. As you become more in demand and unique in your abilities, the more money you command. Consequently, countries begin to open their doors to individuals like you. Instead of facing rigorous assessments from immigration agencies, they create various perks and privileges to entice you to stay within their borders, such as tax-free residencies, free hospitalizations, stays in luxurious hotels, and even personal caregivers for the elderly. While the specific perks offered by different countries may change over time, the fundamental principle of supply and demand always comes into play: golden visas are offered to those who increase their value, and countries open their doors to high-value individuals.
A Ticket to Extraordinary Privileges
When you think about it, obtaining a golden visa feels akin to acquiring a golden ticket to Willy Wonka’s Chocolate Factory. With a golden visa, you gain access to exclusive places and enjoy freedoms that not everyone gets to experience. You have the ability to choose where you want to live and the opportunity to enjoy tax perks and other special privileges.
So, when given the choice between a ticket to the chocolate factory or a golden visa, I don’t know about you, but I would prefer the latter without a second thought.
Golden Visa Book
Golden Visa, is a book I wrote that explores the intersection of entrepreneurship, global citizenship, and the nomadic lifestyle. This book provides invaluable insights and practical advice for individuals looking to embrace a new way of living and doing business in today’s rapidly changing world.
