Family privacy and security

Acquiring a second home in Europe offers incredible advantages for UK resident professional athletes and their families. It provides a fantastic opportunity to secure a peaceful and secluded central meeting point for extended family retreats, ensuring privacy and relaxation during off-season breaks.

Investment

Investing in a second residence can help UK resident professional athletes secure significant assets during their peak earning potential. It also serves as a strategic transition plan for their families following retirement.

Freedom to travel

Having a second residency in Europe allows families, sometimes including parents, the freedom to easily move within the Schengen zone and their new country of residence. Many of the countries that offer these programs have neutral or no tax obligations in their new country of second residence, so long as residency rules are adhered to.

Increased opportunities

Apart from mobility and economic reasons, being a European resident also provides greater access to a wide range of other opportunities including health, education, wealth management, business structuring, and banking options. This is especially beneficial for UK resident professional athletes who may be considering leaving the UK at the end of their career and can offer a seamless solution to immediately start their retirement in Europe.

Application process

At NG Global, we start by getting to know our clients and advisors to determine the ideal residency program for them and their family. We'll then assist in finding and securing the perfect investment vehicle in that country, helping our clients through the application process, and ensuring they obtain residency permits.

Trusted Partners

With our extensive network of trusted partners, we can assist the property search and acquisition, provide local legal and tax advice, handle logistics, and offer concierge services, ensuring a seamless and enjoyable experience.

Currently, the preferred destinations offering these programs are:

• Greece
• Cyprus
• Portugal
• Malta

Greece Golden Visa

Launched in 2013, designed for non-EU Citizens. The Greek Golden Visa Program grants a renewable five-year residence permit with approximately 60 days of processing time. An applicant can include family in the residency program as dependent

Who is eligible for the Greece Golden Visa?

• Be a national of a third Country, non-EU, non-EEA and non-Swiss national,
• Be over 18 and not from a sanctioned country,
• Make a minimum investment of EUR 250,000,
• Qualifying dependents,
• Make the appropriate investment,

What are the benefits of Greece Golden Visa

• Right To Live in Greece - The right to live in Greece, that comes with public healthcare and education benefits.
• Visa-Free Travel with Greece Residence Permit - The Golden Visa provides freedom to travel across the Schengen zone without the need for an additional visa.
• Family Dependents - Spouse, parents, spouse’s parents, children under the age of 21, and childre under 24 who are students can be included as dependents.
• The Double Taxation Treaty - Depending on your country of residence and the amount of time you spend in Greece; it is likely that your international income will not be subject to taxation in Greece.
• Citizenship - You may apply for Citizenship by naturalization after living in Greece for seven years, spending a minimum of 183 per year and be a registered tax, as well as pass a Greek language test.

Qualifying Investment Option for Greece Golden Visa

• Real Estate - The minimum investment amount for the Greek Golden Visa is from €250,000 to €500,000 subject to specific municipalities in Athens, Thessaloniki, Mykonos, and Santorini.
• Hotel Lease - Signing of a ten-year hotel lease, providing the value is at least €250,000
• Share Agreement - Enter a ten-year time share agreement in a Land and construction contract of at least €250,000,

Cyprus Golden Visa

One of the most successful residency programs in Europe, the Cyprus Golden Visa, grants the right to reside, do business and study in the country, with the ability to apply for a Schengen visa. The applicant and their spouse can work as directors in the company in which they invested and receive dividend income.

Why Cyprus Golden Visa

Cyprus is a major business and maritime center in the Eastern Mediterranean. It boosts beautiful beaches and tropical Mediterranean climate, low cost of living, modern banking, and legal system.  It also has the lowest crime rate in the EU as well as its high-quality healthcare system and leading medical centers. Cyprus is considered an ideal destination for permanent residence for non-EU nationals.

Who is eligible for the Cyprus Golden Visa?

• Be a national of a third Country, non-EU, non-EEA and non-Swiss,
• Make an eligible investment,
• The main applicant must have a minimum annual income of at least €50,000, €15,000 for the spouse and €10,000 for each dependent child,
• Be over 18 and not from a sanctioned country,

What are the benefits of Cyprus Golden Visa

• The right to Live, conduct business and study in Cyprus,
• The 5 years renewable Cyprus permanent resident permit allows a foreigner to reside legally in the Country,
• Citizenship - the investor may apply for citizenship by naturalization after residing in Cyprus for a total of 5 years within 7 years and must complete a test on the language and culture of the country and pass an interview.
• Family Reunification - the spouse, children under 18, and dependent children up to the age of 25,
• Following the revision, effective from 3 May 2023, Parents and/ or parents-in -laws of the applicantare no longer eligible,
• Tax Benefits - the country currently operates a non-dom tax program for new residents, who only need to spend as little as 2 months in the country. This would mean that residents are only taxed on what they bring into Cyprus. Alternatively, families may simply wish to establish residence as a stopover or gateway to Europe,

Qualifying Investment Option for Cyprus Golden Visa:

• Invest in a new residential property from a development company (single or two properties), which must be a first sale worth at least €300,000 (plus VAT),
• Investment in commercial properties such as hotels, shops with a total value of €300,000. These purchases may result from a resale,
• Investment in a Collective Investment Cyprus Organization worth at least €300,000 and whose investments should be held in the Republic of Cyprus,
• Investment in Share Capital of a Company with activities in Cyprus. An Initial investment worth €300,000 in the share capital of a newly registered company in the Republic of Cyprus,

Portugal Golden Visa

The Portugal Golden Visa program was launched in October 2012, and is a residency by investment scheme designed for non-EU citizens.

Why Portugal Golden Visa

Portugal offers a wide coastline, a climate full of sunshine, hospitable people, and delicious cuisine. High quality of life at a very affordable cost of living and of course with the right to live, work, also study in the country.

Who is Eligible for Portugal Golden Visa?

• Any non-EU/ Third nations countries, non-Swiss national and US Citizens,
• Minimum age of at least 18 years old and hold no criminal record,
• Make a minimum investment of EUR 250,000. (Must maintain the investment if you and your dependents hold Golden Visa residency status. Once you become a permanent resident or a Portuguese citizen, the investment no longer needs to be maintained).

The most popular Qualifying Investment Option for Portugal Golden Visa:

• Venture Capital Fund Investment - Making €500.000 capital transfers for participation units in venture capital funds if the funds have no real estate ties.
• Research Funding Investment - Investing €500.000 in research activities carried out by public or private scientific research institutions.
• Cultural Heritage Support - Investing €250.000 in support of artistic production, recovery, or maintenance of national cultural heritage.
• Commercial Company Investment – Invest €500.000 into a commercial company investment for the incorporation of a commercial company with headquarters in the national territory or increasing the share capital of an existing company.
• Job Creation - Creation of a minimum of 10 new full-time jobs in a Portuguese business that is owned by yourself as the main applicant.

The benefits of Portugal Golden Visa?

• The right to Live, work, and study in Portugal - You have the full right to live in Portugal and free travel without visa to all Schengen states. The work permit allows you to work anywhere, as well as start and run your own business in Portugal with full access to all public services including healthcare and education.
• Permanent Resident and Citizenship - The Portugal Golden Visa provides the opportunity to become a permanent resident or the ability to apply for citizenship after five years of holding a Golden Visa in Portugal. To qualify you should not have any outstanding tax payments in Portugal, you must have a clean criminal record from Portugal and from your home country and have passed a basic language test in Portuguese.
• Family Reunification - The main applicant can include: Spouse, Children under the age of 18, Dependent children under the age of 26, if they are full-time students and not married, Parents of the main applicant, if over the age of 65 years old,
• Tax Benefits - The Portugal Golden Visa Program will not bring any tax responsibility to you unless you spend more than 183 days of the year in Portugal.

Malta Golden Visa

The Maltese Permanent Residency Permit is a residency by direct investment program that enables successful applicants to obtain a certificate of Maltese residence, this permit entitling them to reside in Malta with their family members.

Why Malta?

Living in Malta is relatively easy, with a high quality of life, excellent healthcare facilities, and excellent education. Malta has become an investment hub, leading in innovation, cryptocurrency, and the tech start-up space.

The Benefits

• Enjoy visa-free travel within the Schengen area,
• Keep your residence permit without moving to Malta,
• Adding family members of up to four generations,
• Getting full rights to live, work, study, and settle in Malta.

Who is eligible?

• Be a national of a third Country, non-EU, non-EEA and non-Swiss national,
• Be over 18 and not from a sanctioned country,
• Show they have capital assets of not less than €500,000, from which a minimum of €150,000 must be in financial assets,
• Make the appropriate investment,

Qualifying Investment Option

• Either, rent a property for a minimum of €10,000 (South of Malta/Gozo) or €12,000 (rest of Malta) or
• Purchase a property for a minimum value of €300,000 (South of Malta/Gozo) or €350,000 (rest of Malta).
• Make a non-refundable Government administrative fee of €40,000.
• Make a government contribution of €28,000 if purchasing a property or €58,000 if leasing a property.
• Pay €7,500 for each additional parent or grandparent of the Main Applicant and/or spouse who is principally dependent on the Main Applicant,
• Donate €2,000 to a local philanthropic organization,
• Hold the qualifying property for a minimum period of 5 years after which a residential address is required.

Excellent alternative Non-European Golden Visa countries

In addition to taking up a second residency in Europe, there are other countries that offer residency by investment including Dubai, Indonesia, and Turkey.

These countries provide fantastic lifestyle and economic opportunities, all with international airline hubs that make stopovers and family reunions convenient and private ideal for professional athletes seeking a convenient, safe and private environment for their family.

Citizenship by Investment

In addition to a second residency, there are many countries that will allow eligible applicants to take up a second citizenship, that allows more travel opportunities, including Asia, South America, the UK, and Europe.

Currently, the preferred destinations offering these programs are:

• Antigua & Barbuda,
• Dominica,
• St Lucia,
• St Kitts & Nevis,
• Grenada,
• Malta,

The process of acquiring a second citizenship is relatively easy.  Once you have decided on your preferred investment route, the main applicant would complete a series of forms and supply due diligence documentation.  Then after the application has been approved in principle, the applicant would complete their investment and receive their citizenship certificate and passport.  The typical processing time from the date of submission is 3-5 months.

Should you have any queries, please feel free to reach out to either Graham Sutcliffe or Nani Yuningsih. They will be delighted to offer their expert advice and guidance.

grahamsutcliffe@ngglobalcitizens.com

nani@ngglobalcitizens.com