Top Golden Visa & Immigration Investment News - A LAND Magazine
Published Date: 31 Jan, 2025
Spain to Terminate Golden Visa Program by April 2025
Spain has announced the official termination of its "Golden Visa" program, effective April 3, 2025. This initiative, which granted residency to foreign investors in exchange for significant economic contributions, primarily through 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 a significant number going to investors from China, Russia, and the United States. The decision aims to address concerns over rising housing costs attributed to foreign investments.
Portugal Phases Out Real Estate Option in Golden Visa Scheme
Portugal has officially ended the real estate investment route within its Golden Visa program as of October 7, 2023. The decision was influenced by escalating housing prices and aims to redirect foreign investments towards other sectors. Existing visa holders can renew their permits, but new applications for real estate investments are no longer accepted. The program had previously attracted significant investments, particularly from Chinese nationals, contributing to a total of €7 billion since its inception in 2012.
Hungary Relaunches Golden Visa Program with New Investment Options
Hungary has reintroduced its Golden Visa program, now known as the Guest Investor Program (GIP), effective July 1, 2024. The revamped scheme offers three investment pathways: acquiring investment certificates worth at least €250,000, purchasing residential real estate valued at a minimum of €500,000, or donating at least €1 million to a Hungarian higher education institution. Successful applicants receive a 10-year residence permit, with eligibility criteria including valid travel documentation and proof of investment.
Greece's Golden Visa Program Sees Surge in American Applicants
Following Spain's announcement to end its Golden Visa program, Greece has experienced a notable increase in applications from American investors. The Greek Golden Visa program offers residency permits to non-EU citizens who invest a minimum of €250,000 in real estate. This surge is attributed to investors seeking alternative opportunities within Europe, especially in light of changes in other countries' investment residency programs.
Italy's Investor Visa Program Attracts Global Entrepreneurs
Italy continues to draw international investors through its Investor Visa program, which requires a minimum investment of €250,000 in an Italian startup, €500,000 in an existing Italian company, or €2 million in government bonds. The program grants a two-year residence permit, extendable for additional three-year periods, with the possibility of applying for citizenship after ten years of residency. This initiative aims to bolster economic growth by attracting foreign capital into various sectors.
United Arab Emirates Expands Golden Visa Eligibility
The UAE has broadened the eligibility criteria for its 10-year Golden Visa program to include more professionals such as PhD holders, scientists, outstanding professionals in specific fields, and doctors. This move is part of the country's strategy to attract and retain exceptional talent, fostering innovation and development across various industries. Golden Visa holders can sponsor their family members, and there are no restrictions on the duration of stay outside the UAE to maintain visa validity.
United States EB-5 Program Remains a Popular Pathway for Investors
The U.S. EB-5 Immigrant Investor Program continues to be a sought-after route for foreign investors seeking permanent residency. The program requires a minimum investment of $1.8 million, or $900,000 in targeted employment areas, and the creation of at least 10 full-time jobs for U.S. workers. Recent legislative changes have introduced stricter compliance measures to enhance program integrity and ensure genuine economic benefits.
Ireland Terminates Immigrant Investor Program Amid Housing Concerns
Ireland has ended its Immigrant Investor Program, which offered residency in exchange for investments in areas such as real estate and enterprise development. The decision comes amid concerns that the program was contributing to rising housing costs and not delivering sufficient economic benefits. Existing applications will be processed, but no new applications are being accepted.
United Kingdom Tightens Rules on Tier 1 Investor Visa
The UK has implemented stricter regulations for its Tier 1 Investor Visa, increasing the minimum investment requirement to £2 million and introducing more rigorous checks on the source of funds. These changes aim to prevent money laundering and ensure that the program attracts genuine investors who contribute positively to the UK economy. The visa provides a pathway to permanent residency and citizenship, subject to meeting specific criteria.
Canada Enhances Start-Up Visa Program to Attract Global Entrepreneurs
Canada has expanded its Start-Up Visa Program to attract innovative entrepreneurs from around the world. The program offers permanent residency to entrepreneurs who secure funding from designated Canadian investors and meet other eligibility requirements. This initiative aims to foster innovation and create jobs, contributing to Canada's economic growth.
Date: 31 Jan, 2025
