Paul Williams is CEO and Founder of La Vida, a leading consultancy in the field on international migration through investment.
Donald Trump’s announcement of a “gold card” visa priced at $5 million could attract more entrepreneurs and wealth creators to the U.S. It’s a policy that many nations have been adopting for years, and many people are starting to view golden visas not only as a means to reduce government borrowing but as an opportunity for wealth creators to take their capital and talent to where it is best employed, best respected and best treated.
Europe has, for the last decade or so, had several residency investment programs, and a number of Caribbean nations go further and faster in offering direct citizenship at an affordable cost. So until the implementation of a gold visa in the U.S., where are five popular opportunities globally for entrepreneurs to consider for business and lifestyle?
1. Portugal
The Portuguese Golden Visa has been one of the most successful programs, initially attracting wealth from China, but in recent years, it has seen an influx of applicants from the U.S. It has generated over €7 billion ($6 billion) in investments so far.
Its program, previously linked to real estate investment, is now on offer to those willing to invest €500,000 into private equity funds. The 2025 revised non-habitual residence tax rule offers exemptions on foreign-sourced income and encourages investment for high-value activities with a flat 20% tax on employment income. With a low-cost economy for labor, Portugal offers an attractive gateway to the EU.
That said, the popularity of the golden visa program has led to backlogs in processing times, which the Portuguese government is working hard to reduce. Additionally, the upcoming elections in Portugal in May 2025 could see a change in government, and a change in program rules cannot be ruled out.
2. Greece
For residency in the EU simply through real estate investment, Greece is an attractive, low-cost option. Investments start from €250,000—depending on the region.
This option is perhaps less attractive as a program for entrepreneurs. Greece can be bureacratic when it comes to many business activities and is far outside the center of Europe geographically. However the climate and way of life may be more suited as a lifestyle choice or even retirement in a very affordable destination.
3. Malta
Malta has offered not only residency through real estate investment, but also citizenship through investment, to the distaste of the EU. Malta also has a favorable tax program with a flat rate of 15% on remittances to the island, subject to a minimum of €15,000 per year. It also offers a vibrant economy, particularly in the technology and financial services sector. In the first six months of 2024, Malta attracted in excess of €13 billion in new foreign investment according to the National Statistics Office (NSO).
However skilled labor shortages are a drawback for those setting up business. Malta offers the only formal program in Europe where citizenship can be acquired directly through government donation. However it comes at a hefty price, requiring either €750,000 or €600,000 in contribution depending on the residency length, plus the purchase of immovable property with a value of at least €700,000
4. Antigua
With no tax on worldwide income or capital gains, Antigua could be an ideal location from which to run an international business from the comfort of your laptop, while overlooking a different beach for 365 days of the year.
A $300,000 investment into real estate secures not only residency but citizenship, too. It’s a great opportunity for those who can operate remotely. This could be an essential component for U.S. citizens who may be looking to reduce their U.S. tax liability.
However, eliminating U.S. tax obligations altogether while living abroad would require American nationals to renounce their U.S. citizenship.
5. UAE
The UAE—with Dubai being the main international hub—offers a golden visa through real estate investment at a minimum 2 million AED, (approximately $545,000). The UAE has zero income tax on earnings, dividends or capital gains. And with many tax-free zones, it is possible to incorporate a business and pay no corporation tax.
Anyone leaving the U.S. or elsewhere for tax reasons needs to be careful to comply with any exit requirements from their home country, such as minimum stay periods.
As government debt escalates to unprecedented levels in many Western nations, attracting wealth in the form of donations, along with a positive contribution to the economy, is a “no-brainer” for many governments. Not only can it help reduce the burden on the domestic taxpayer, it can bring further investment in business, jobs, high value spend in the economy and help fuel development for decades to come through the ancestry of the initial applicants.
Trump has set ambitious targets for the gold card visa as he looks to bring in investment to help fund the U.S. budget deficit and fuel growth. It’s a policy that could lay down the gauntlet to many nations to wake up to competition for its wealth creators. I think it is likely to lead to more opportunities worldwide in the coming years as the race to attract global talent and wealth by cash-strapped nations heats up.
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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