In 2022, the European Commission called on EU governments to stop selling citizenship to investors.
Though Citizenship by investment schemes are different to Residency by investment programs the so-called Golden Visas, which offer permanent residency the call came as part of a move to regulate the immigration industry. The war in Ukraine rekindled concerns that such schemes would “pose risks as regards security, money laundering, tax evasion, terrorist financing, corruption and infiltration by organised crime, and would be incompatible with EU norms”.
In this framework Más País, Spanish political party is now arguing that such types of investment does not bring any benefits to the country, and as such should be phased out, so that the only way to obtain a Spanish Golden visa remains by launching a business project with job creation or 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.