Top 10 Golden Visa Updates – The ALand Times | Global Immigration Insights
Published Date: 10th Feb, 2025
Spain to Terminate Golden Visa Program by April 2025
Spain has announced the termination of its Golden Visa program, effective April 3, 2025. This initiative, introduced in 2013, granted residency to non-EU citizens investing at least €500,000 in real estate. The decision aims to address rising housing costs attributed to foreign investments. Prospective applicants are advised to finalize their applications before the deadline.
New Zealand Eases Requirements for Investor Visa
Effective April 1, 2025, New Zealand will streamline its Active Investor Plus visa into two categories and broaden acceptable investments. Notably, the English language requirement will be removed, and the mandatory duration investors must spend in the country will be adjusted. These changes aim to attract a broader range of wealthy investors.
Alternatives Emerge as Spain Ends Golden Visa
With Spain's Golden Visa program concluding in April 2025, non-EU citizens are exploring the Non-Lucrative Visa as an alternative. This visa requires applicants to demonstrate sufficient financial means to reside in Spain without employment. Applicants must provide proof of economic resources, private health insurance, and a clean criminal record.
Malta's Golden Visa Program Faces Criticism
Malta's Golden Visa and passport schemes have come under scrutiny for contributing to inflated property prices and overdevelopment. Critics argue that many beneficiaries do not reside in Malta, leading to "ghost towns" and straining local resources. Despite these concerns, the programs remain popular among foreign investors.
Portugal Phases Out Real Estate Option in Golden Visa Program
Portugal has officially ended the real estate investment route in its Golden Visa program as of October 7, 2023. The decision aims to address housing affordability issues. The program will continue with alternative investment options, redirecting foreign capital towards other sectors.
Greece Increases Investment Threshold for Golden Visa
Greece has revised its Golden Visa program, raising the minimum real estate investment to €500,000 in specific areas, effective August 1, 2023. This change targets regions with high demand, aiming to balance foreign investment with local housing needs.
Cyprus Transitions from Golden Passport to Golden Visa Program
Following the termination of its Golden Passport scheme in 2020, Cyprus has introduced a Golden Visa program requiring a minimum investment of €300,000. By 2023, approximately 5,800 golden visas had been issued. However, concerns have been raised about investors not residing in Cyprus, prompting calls for stricter regulations.
Vanuatu's Golden Passport Program Faces EU Sanctions
The European Commission has proposed transferring Vanuatu to the visa-required countries list due to concerns over its investor citizenship scheme. The program's deficiencies, including inadequate security screenings, have led to the suspension of visa exemptions for Vanuatuan citizens traveling to the EU.
UAE's Golden Visa Program Attracts Global Investors
Since its introduction in 2019, the UAE's Golden Visa program has attracted numerous investors and skilled professionals. The visa offers a 10-year residency without the need for a national sponsor, benefiting individuals in sectors like technology, education, and healthcare. The program aligns with the UAE's goal to diversify its economy beyond oil.
Ireland Terminates Immigrant Investor Program
In 2023, Ireland ended its Immigrant Investor Programme, which granted residency in exchange for investments exceeding €500,000. The decision reflects a broader European trend of reevaluating such programs due to concerns about housing affordability and economic impact.
Date: 10th Feb, 2025
