Golden visa programs first of all residency programs an do have certain restrictions for some candidates who are ineligible to apply. To get a residence permit or visa approved some restrictions apply.
Golden visa programs run in more than 20 european states and the most popular schemes are Portugal, Greece and Spain.
1. EU/EEA nationals
EU and EEA citizens cannot apply for Golden visa programs. The list includes Switzerland, Andorra and EU member states.
2. Country restrictions
No country restrictions apply. Malta does not accept nationals of Afghanistan, North Korea, Iran, Democratic Republic of Congo, Somalia, South Sudan, Sudan, Syria, Yemen and Venezuela.
3. Age restrictions
Main applicant must be above 18 years old to apply for GV programs.
4. Criminal record
The Immigration authorities will require a police record from the country of origin to verify the criminal record. If you have history of criminal record, chances are your application might be refused.
5. Schengen Visa refusal
If you have a visa refused by schengen states. there is a possibility that your record is entered in SIS (schengen information system) database which is shared and accessible to police and migration authorities of all schengen states. Based on this if you golden visa could be refused. (Note that UK does not participate in schengen). You have to reapply after clearing out your refusal.
6. Wanted persons
Wanted persons by interpol and other international agencies including persons in sanctions list cannot apply for residence permits issued under golden visa programs.
7. Tax havens
Some GV programs such as Spain restrict funds invested through companies domiciled in tax havens. Portugal levies straight 7% tax on rateable value if property owned by company incorporated in blacklisted tax havens (BVI, Isle of Man, Gibraltar etc.)
8. Security Threat
Residence can be also be denied in the matters of national security or disrepute to the nation.
9. Family members
Siblings including brothers/sisters cannot apply in one family application. You can only include spouse, children and parents in a family application.
10. Tax payers
You have to provide evidence of taxpayer identification from both origin country and the country you apply. Infact, the first step in GV application is to get a tax number from the authorities. Without these, you cannot apply for any golden visa.
11. Required Investments
You must invest the minimum investment and hold the investment for alteast 5 years as per golden visa provisions. Jointly also possible. If you redeem the investment early, your permits can be revoked (or cannot be extended). Remember, this could also effect your citizenship application.
12. Dual nationality
If you are restricted from holding more than one citizenship by your home country, it is advisable to apply for golden visa programs that grant only permanent residency (not citizenship).