Wealthy individuals around the world in recent years have found a way to obtain residency and citizenship in Europe by way of investment.

The Golden Visa Program allows foreign investors and their families obtain residency in exchange for a significant investment in the host country’s economy.
But for high net worth Filipinos, the desire to give second and third generations of their families the opportunity to become global citizens and gain access to quality healthcare and education seems to be the more compelling attraction.
Vicky Luis, a California-licensed real estate professional and founder of Golden Visa Central (GVC), said the pandemic in 2020 and the ongoing global uncertainties due to the Middle East conflict and the war between Russia and Ukraine saw more wealthy individuals applying for golden visa as a “plan B” or an insurance in case of emergency. For some, having a residency in another country provides diversification of assets and hedge against risks.
Luis in 2019 became the first Filipino to introduce advisory services for the Golden Visa Program to the Philippines and bring applicants to Portugal and Spain, then later to Greece, at a time when this program was hardly known in the country.
Acting as a liaison between clients and partner legal and consultancy firms, GVC has since brought 200 families to these countries.
Luis harnessed her background in real estate in coming up with a personalized approach to obtaining that golden visa for fellow Filipinos. After all, investing in real estate was the more popular entry point when GVC started.
Luis said Portugal is the number one destination. One can secure residency or citizenship with an investment of 500,000 euros without having to relocate.
The applicant can bring his spouse, children 21 years old and below and even up to the third generation of the family. They can live, work, and study in the country, apply for citizenship after five years with only a minimum stay of 7 days per year and can travel visa-free to the rest of the European Union.
In Portugal, the applicant does not become a tax resident. However, fund owners are required to buy back their investment on the 9th year just in time for the release of their passport.
Luis said the contract stipulates the investment has to remain in the fund, especially in the first five years during the residency of the applicant.
Greece’s investment requirement is even lower at 250,000 euros , also without the need to relocated.
Recent changes in regulations – including higher investment requirements and shift from real estate to private equity fund as mode of investment – have all the more necessitated the services of companies like GVC to hand-hold clients and navigate through the process seamlessly.
GVC packages investment opportunities for the client and manage the same for him. For real estate investments for example, GVC would take care of the property – from refurbishment to leasing – and remit the rental income to the investor.
Luis also noted the importance of understanding the legal and financial aspects of the investment process while considering clients’ needs and culture.
GVC has also started offering its services to those wishing to obtain similar visas to the US and Canada, destinations that are popular to clients with children studying in those countries.
“These programs are not permanent and threshold amounts and kinds of investments could change,” Luis said.
This is why GVC conducts regular webinars and roadshows in Manila and the provinces to give presentations on the Golden Visa Program.
Luis and her team will be in Manila on July 21 to 23 and on September 11 and 12. Irma Isip