Housing affordability has been making headlines around the world, especially as we navigate our post-pandemic world. With 10% of people within the European Union spending more than 40% of their net income on housing, countries in the EU are looking to solutions, including ending Golden Visa programs.
All That Shimmers is Not Gold
While Golden Visas have been hailed as a way to inject cash into a struggling economy, many countries have found that they actually contribute more to inflation than they do good. Housing affordability for citizens is affected disproportionately and once that initial injection of cash from real estate is invested, the country doesn’t see any additional benefits down the line.
Golden Opportunity or Tax Haven?
There are some concerns around whether Golden Visa programs are little more than cleverly marketed tax havens. Investing in property allows foreign citizens to dump large sums of money into other jurisdictions, helping to shelter their gains from taxes in their own home countries.
Alternatives to Golden Visas
Investment through entrepreneurship is another option for people who are looking for a pathway to citizenship in another country, while supporting the local economy in a more sustainable way. The HQA Visa program through Empowered Startups helps entrepreneurs expand their businesses, or start something new, within the university and polytechnic environments of Portugal. While working towards a successful business, entrepreneurs are directly infusing cash into the R&D ecosystem and gaining unique insight into the European market.
HQA Visa Processing Times
One of the most attractive components of the HQA Visa Program is expedited processing. Those who qualify for this program (and their families) will gain status in Portugal in just 90 Days – which beats the years of processing for a Golden Visa. Some entrepreneurs have received approval in as little as two weeks!
Expand your global reach by applying to the HQA Visa program today.