Top 10 Golden Visa Updates Today: Immigration & Investment News
Published Date: 1 Feb, 2025
Spain to Terminate Golden Visa Program in 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 housing affordability issues exacerbated by foreign investments. Investors are advised to finalize applications before the deadline.
Portugal Phases Out Real Estate Option in Golden Visa Scheme
Portugal has officially ended the real estate investment route in its Golden Visa program as of October 7, 2023. The program now focuses on other investment avenues, such as job creation and capital transfers, to mitigate housing market inflation and promote sustainable economic growth. Existing visa holders remain unaffected by this change.
Greece Increases Investment Threshold for Golden Visa
Greece has revised its Golden Visa program, raising the minimum real estate investment requirement to €500,000 in select areas, effective August 1, 2023. This adjustment targets regions experiencing significant property demand, aiming to balance foreign investment with local housing needs. Investors should review the updated criteria before proceeding.
Italy Suspends Golden Visas for Russian and Belarusian Nationals
In alignment with EU recommendations, Italy has suspended its Golden Visa program for applicants from Russia and Belarus as of August 10, 2023. This measure responds to geopolitical tensions and underscores the program's vulnerability to international relations. Potential investors from these nations are advised to explore alternative residency options.
Latvia Offers Competitive Golden Visa Program
Latvia's Golden Visa program remains active, requiring a minimum investment of €50,000 into a Latvian company, along with a one-time government fee of €10,000. The program grants a five-year residency, renewable and convertible to permanent residency after four years. Citizenship is attainable after ten years of residency. This presents an attractive opportunity for investors seeking EU residency.
Hungary Introduces New 5-Year Renewable Visa
Hungary has launched a new five-year term renewable visa as of May 16, 2023. Investors can obtain this visa by investing €155,000 in completed residential property or by establishing a local company. After three years of continuous residence, investors may apply for permanent residency, with citizenship eligibility after seven years. This program offers a flexible pathway to EU residency.
Belize Offers Investor Residency Program
Belize provides an investor residency program requiring a real estate investment of $250,000. After five years, individuals are eligible for Belizean citizenship, granting access to a CARICOM passport for regional travel. This program appeals to investors seeking residency in a Caribbean community with favorable investment conditions.
Russia Launches Investor Visa Program
Russia initiated its Investor Visa program on December 31, 2022, offering permanent residency to applicants and their immediate families. Eligibility requires sponsoring a social project, purchasing real estate, investing in a business, or starting a company. Residency can be converted to citizenship after five years, providing a new avenue for investors interested in the Russian market.
UAE Expands Golden Visa Eligibility
The United Arab Emirates has expanded its Golden Visa program, allowing more professionals, including PhD holders, scientists, and outstanding talents, to obtain a 10-year residency without the need for a national sponsor. This move aims to attract skilled individuals to contribute to the UAE's economic and scientific development.
Indonesia Plans to Introduce Golden Visa Program
Indonesia has unveiled plans to launch a Golden Visa program to attract wealthy foreign nationals. The program is expected to offer residency permits to investors meeting specific criteria, aiming to boost foreign investment and stimulate economic growth. Details regarding investment thresholds and benefits are anticipated in upcoming announcements.
Date: 1 Feb, 2025
