The ALand Times: Immigration and Golden Visa Updates
Published Date: 24th Jan, 2025
Spain to Terminate Golden Visa Program by April 2025
Spain has announced the official end of its Golden Visa program, effective April 3, 2025. This initiative, which granted residency to non-EU citizens investing at least €500,000 in real estate, has been under scrutiny due to its impact on housing affordability in major cities. Between 2013 and 2023, Spain issued 14,576 Golden Visas, with the majority linked to real estate investments. Notably, citizens from China, Russia, and the United States were among the top beneficiaries. The program's termination reflects growing concerns over housing market inflation attributed to foreign investments.
Greece's Golden Visa Program Attracts Increased Interest Amid Regional Changes
In light of Spain's decision to end its Golden Visa program, Greece has seen a surge in interest from international investors. Greece offers a three-tier Golden Visa system, with minimum investment requirements of €800,000 in prime areas like Athens, Thessaloniki, and the islands (Tier A), and €400,000 in other regions (Tier B). This structure provides flexibility for investors seeking residency options in the European Union.
UAE's Golden Visa Program: Comprehensive Guide for 2025
The United Arab Emirates continues to offer its Golden Visa program, granting five to ten-year residency permits to foreign expatriates without the need for a local sponsor. This initiative aims to attract investors, entrepreneurs, and skilled professionals to the UAE. Applicants must meet specific criteria, including investment thresholds and contributions to designated sectors. The program underscores the UAE's commitment to fostering a diverse and robust economy.
Portugal's Golden Visa Program Remains a Popular Choice for Investors
Despite regional shifts in Golden Visa offerings, Portugal's program continues to attract significant interest. The scheme requires a minimum investment of €500,000 in real estate or €350,000 in urban rehabilitation projects. Benefits include residency rights, visa-free travel within the Schengen Area, and potential eligibility for citizenship after five years. Portugal's favorable climate, quality of life, and stable economy make it an appealing destination for global investors.
Italy's Investor Visa Program Gains Traction Among Foreign Nationals
Italy has reported an uptick in applications for its Investor Visa program, which offers residency to non-EU citizens who invest a minimum of €500,000 in Italian companies or €250,000 in innovative startups. The program also provides options for philanthropic donations and government bond investments. Applicants and their families gain residency rights, with the possibility of applying for citizenship after ten years. Italy's rich cultural heritage and strategic location within Europe enhance its attractiveness to investors.
Ireland's Immigrant Investor Program Sees Sustained Interest
Ireland's Immigrant Investor Program continues to draw interest from high-net-worth individuals seeking residency in the European Union. The program requires a minimum investment of €1 million in an Irish enterprise, to be held for at least three years. Alternatively, investors can contribute €500,000 to a philanthropic project in arts, sports, health, culture, or education. Successful applicants and their families receive residency rights, with the option to apply for citizenship after five years of residence.
United States EB-5 Immigrant Investor Program Updates
The U.S. EB-5 Immigrant Investor Program, which offers green cards to foreign nationals investing $1.8 million (or $900,000 in targeted employment areas) in new commercial enterprises, has undergone recent updates to enhance its integrity and efficiency. Changes include increased oversight of regional centers and stricter compliance measures. The program aims to stimulate the U.S. economy through job creation and capital investment by foreign investors.
Australia's Significant Investor Visa Program Attracts High-Net-Worth Individuals
Australia's Significant Investor Visa (SIV) program continues to be a magnet for high-net-worth individuals seeking residency. The program requires a minimum investment of AUD 5 million into complying investments, including venture capital, growth private equity funds, and managed funds investing in emerging companies. SIV holders enjoy residency rights and a pathway to permanent residency, contributing to Australia's economic development.
Canada's Start-Up Visa Program Encourages Entrepreneurial Immigration
Canada's Start-Up Visa Program offers permanent residency to innovative entrepreneurs who can secure funding from designated Canadian investors. Applicants must demonstrate their business is supported by a designated organization, meet language proficiency requirements, and have sufficient settlement funds. The program aims to attract entrepreneurial talent to foster innovation and job creation in Canada.
United Kingdom's Innovator Visa Program Welcomes Global Entrepreneurs
The UK's Innovator Visa program invites experienced businesspersons to establish innovative businesses in the UK. Applicants need a minimum investment of £50,000 and must have their business idea endorsed by an approved body. The program offers a route to settlement after three years, provided certain criteria are met, reinforcing the UK's position as a hub for
Date: 24th Jan, 2025
