Residence by investment programmes
The residence by investment programmes allows a foreigner to get a permanent residence. The foreigner shall obtain this by making an investment. He may invest in a business or purchase a property. They are sometimes called Gold Visa Programmes but are not the same. A recent study says that Indians choose to go abroad for work. For the environmental conditions (unlike Delhi pollution) and also for other comforts they take up “resident by investment” programmes and choose to stay abroad. The common countries where Indians choose such programmes today are USA, Greece, Australia, Portugal, and Malta.
What is Residence by Investment programmes?
Resident by investment is different from citizenship by investment. In a resident-by-investment programme, if you invest a certain amount in a country, you will gain residency there. You only get residency. You are not eligible to enjoy government subsidiaries provided to the citizens of that country. For instance, you put your money into a property in the USA. With this, the US provides you with a residence. You and your family may stay here. You can only stay like a foreigner, not like a citizen. For example, your kids do not get free education like other American citizens.
Are Golden Visa and Resident by Investment the same?
NO. Many are of the misconception that they are the same. Though they work the same way, the benefits gained are different. And therefore, the programmes are different.
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Month: Current Affairs - February, 2023
Category: International / World Current Affairs