The era of tax exemption is gone! Now only the rich who save the environment will get ‘Golden Visa’ from foreign countries, know what is the new trend The era of tax breaks is over! Now, only eco-conscious wealthy individuals will get ‘Golden Visas’ from abroad—find out what the new trend is.

The ‘Golden Visa’ program has always been the first choice among rich and wealthy families around the world to get citizenship or Permanent Residency (PR) of another country. But now a huge and revolutionary change has taken place in this global investment market. The Golden Visa, which was once considered only a means for tax planning, real estate investment and hiding money in low tax countries, is now increasingly becoming ‘green’ i.e. environment-friendly. Many leading countries of the world, including the European Union (EU), are now inviting only those rich people to settle here who are ready to invest in ‘impact investing’ i.e. projects with social and environmental benefits to improve the environment.

Attention shifted from real estate, now focus on sustainable development

In the last decade, a Golden Visa meant buying an expensive property or villa in a luxurious foreign city. But in countries like Portugal, Spain, and Greece, due to this, local house prices started skyrocketing, which was strongly opposed by the citizens there. To deal with this problem and face a serious challenge like global warming, governments have changed their rules. Now traditional real estate investment avenues are being closed or severely limited for foreign investors, and their attention is being turned towards renewable energy (solar and wind power), organic farming and carbon-credit generating projects.

What is the new connection between ‘Impact Investing’ and Golden Visa?

Impact investing simply means investments that bring positive change to society and the environment along with economic profits. Under the new rules, if an Indian or global investor wants a Golden Visa of a European country, he will have to invest a certain amount in government bonds related to startups, green infrastructure funds or environmental research. Through this diplomatic and economic transformation, countries are using the capital of the global rich to meet their climate change goals.

Craze for green visa increased among Indian rich people also

There is always a competition among India’s High-Net-Worth Individuals (HNIs) i.e. millionaires to get foreign citizenship. According to diplomatic experts and immigration consultants, Indian investors are also now accepting this change with open heart. The main reason for this is that the new generation of wealthy entrepreneurs not only want to protect their wealth, but they also want to project their global image as environmentally responsible investors. In the times to come, this ‘Green Initiative’ will prove to be a game changer for the entire Residency-by-Investment industry across the world.