Golden Passport is a special type of passport you can get by investing money in a foreign country. When you buy a golden passport, you get citizenship of that country along with all the rights and benefits that come with it. Golden Passport programs are offered by select countries where foreigners can buy property or invest money to get citizenship quickly. If you want to know more about the golden passport and how it works, keep reading as we explain everything in simple terms here.
Overview of a Golden Passport
A golden passport is a passport given to foreign investors who put money into or buy property in certain countries. It works like an investment scheme where you get citizenship by investing a specific amount in that country. This lets you travel visa-free to many countries and helps Indian businessmen with international trade. Many countries, especially in the European Union and the Caribbean, offer such passports to eligible investors.
Each country has its own rules and minimum investment amounts to qualify for a golden passport. Foreign nationals must follow those rules to get the passport.
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Top Countries for Investment and Getting a Golden Passport
You must invest the required amount and provide proof to get a golden passport from a country. The investment amounts change from country to country. Here are some popular countries and their investment requirements:
- Malta: Invest around 5.4 crore INR to get citizenship, along with tax benefits.
- Australia: No fixed minimum investment. Becoming a citizen lets you travel visa-free or with visa on arrival to 180 countries.
- Dominica and Saint Lucia: Invest roughly 83 lakh INR for citizenship and enjoy visa-free travel to many countries worldwide.
- Turkey: Invest 3.3 crore INR to receive citizenship.
Indian Applicants Make Up 9.4% of Global Golden Passport Demand
A recent Economic Times report shows Indians made up 9.4% of global golden passport applicants in 2024. The golden passport is more than a travel document; it is a strategic tool for international business for foreign investors. It helps them expand their business opportunities overseas.
Why Golden Passport is Helpful for Business Owners
Golden passport is very useful for Indian business owners. It opens doors for better international deals and makes business activities smoother. European countries like Germany, Sweden, Spain, France, and Italy are popular choices for businesspersons. Passports from Cyprus, Grenada, Portugal, and Malta also provide benefits for entrepreneurs.
How a Golden Passport Helps Save Tax
Countries with golden passport programs often offer lower taxes on capital gains, global income, gifts, money transfers, or inheritance. This can help investors save taxes legally. Experts recommend Swiss and Portuguese passports for business in Europe and the Middle East. For access to North American markets, Canadian passports are advised.
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Golden Passport Validity
The validity of a golden passport depends on the issuing country but usually lasts from 1 to 2 years. You can renew it after it expires. Permanent citizenship is often given only after living for 5 to 10 years in that country.
Who Can Apply for a Golden Passport?
- Applicant must be over 18 years old.
- Applicant should have a clean criminal record.
How to Apply for a Golden Passport?
To apply for a golden passport, you need to invest in shares, government bonds, or public projects of the country you want citizenship from. You can also contribute as an employee or in scientific and technical progress. After investing, you can apply at the local embassy or authorized government agency to request citizenship and the golden passport. This passport then lets you become a citizen of that country.
Golden Passport FAQs
How do I get a golden passport?
Buying property abroad is one of the easiest ways to get a golden passport.
How long does a golden passport last?
The validity depends on the country but usually is between 1 and 2 years. You can renew it after it expires.