What is Residency by investment visa?
Residency by Investment is also known as Green Card in USA, Permanent Residency in Canada, Indefinite Leave to Remain in the UK and Permanent Migration in Australia.
Under this visa program, the investor retains the passport of his/her home country but obtains permanent residency visa of the country in which he/she has made an investment.
Different countries have different requirements for making an investment in exchange for permanent residency status. The investment to be made can be in a new or old business, real estate, financial products such as shares, bank deposits, government bonds, funds, etc.
Under this program, the investor is required to stay for a certain period of time in the country in which he/she has made an investment. This time period can vary from one day to several years.
In most cases, education, age and language requirements are minimal.
After a stipulated time period, which differs from country to country, the investor may apply for citizenship of that country if he/she meets the citizenship requirements.
Indian citizens residing outside of India for more than 182 days in any given financial year as a permanent residents of another country are considered as Non-resident Indians (NRIs) for tax purposes in India.
Due to the Liberalized Remittance Scheme (LRS) introduced by the RBI in India, Indian citizens can remit up to US$ 250,000 per year per person outside of India.
Many countries around the world offer Residency by Investment but the programs of following countries most popular:
English speaking countries: USA, Canada, UK, Australia, New Zealand & Ireland
European countries: Portugal Spain, Greece, Malta, Cyprus, Bulgaria, Latvia
Middle East countries: UAE, Qatar, Kuwait & Oman
South Asian countries: Hong Kong, Singapore & Thailand