European Golden Visa Programs and the EU’s Stance on Citizenship by Investment
European Golden Visa Programs and the EU’s Stance on Citizenship by Investment
In 2022, the European Commission called on EU governments to stop selling citizenship to investors. Though Citizenship by Investment schemes differ from Residency by Investment programs, such as the European Golden Visa Programs, the call came as part of a broader move to regulate the immigration industry. The war in Ukraine further fueled these concerns and rekindled fears that such programs could “pose risks regarding security, money laundering, tax evasion, terrorist financing, corruption, and infiltration by organized crime.” The European Commission argues that such schemes would be incompatible with EU norms and values.
The push to regulate or potentially end certain investment programs could have significant implications for European Golden Visa Programs, making it more crucial than ever for potential investors to stay informed about policy changes.
In this framework, Más País, a Spanish political party, now argues that such types of investment do not benefit the country and should be phased out. The party believes that the only way to obtain a Spanish Golden Visa should be by launching a business project that creates jobs or fosters innovation.
On the other hand, Portugal will end its so-called golden visa program for new foreign property buyers as it tries to address the lack of affordable housing.
Furthermore, Ireland’s ‘golden visa’ programme is about to stop.
Greek Golden Visa: Why it Becomes More Attractive
At the same time, the Greek Prime Minister announced a price hike for Greece’s Golden Visa.
Do you wonder if the Greek Golden Visa remains the most attractive and affordable program in the world?
The fact remains that the vast majority of Greece’s regions will continue to operate under the €250,000 property valuation. This means that there remains an abundance of high-potential, high-yield investment areas open to Golden Visa applicants.
For more information on how the European Golden Visa programs work, check out our detailed guide on golden visa greece
