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EU Countries Offering Golden Visas: Current Programs and Requirements

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EU Countries Offering Golden Visas: Current Programs and Requirements
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Several EU countries, such as Portugal and Spain, have recently removed the real estate investment option from their Golden Visa programs in an effort to address the housing crisis. Despite this change, other pathways to benefit from these schemes remain available.

Hungary:

Hungary has reintroduced its Golden Visa Program, known as the Guest Investor Program (GIP), as of July 1 this year, after previously terminating it in 2017. Under this program, international investors can acquire residency by purchasing real estate. Specifically, residency can be obtained by purchasing a real estate unit worth at least €250,000 and a residential property for €500,000. Additionally, another option is to donate at least €1 million to a higher educational institution in Hungary.

Greece:

To qualify for Greece's Golden Visa Program, a financial contribution of at least €250,000 is required. This includes the possibility of investing in real estate. However, due to efforts to address the housing crisis, the minimum investment amount has increased to €800,000 in some parts of the country.

Countries That Have Removed Real Estate Options From Their Golden Visa Schemes:

The housing crisis in Europe, characterized by shortages and escalating rents, has led some countries to eliminate the real estate investment option from their Golden Visa programs. According to a report from Euro News, about 70% of EU residents own their homes, while the remaining 30% rent, and around 17% live in overcrowded conditions.

Spain:

Spain has removed the real estate investment option from its Golden Visa Program since April this year. Previously, wealthy foreign nationals could acquire residency by investing at least €500,000 in real estate. The President of the Government, Pedro Sanchez, announced this decision, emphasizing that housing should be a right rather than a speculative business. Now, applicants must choose from the following options:

- Investing at least €2 million in government bonds

- Investing at least €500,000 in corporate bonds or shares

- Investing a minimum of €250,000 in innovative startups

Portugal:

Similarly, Portugal has removed the real estate option from its Golden Visa Program. Lisbon now offers residency to internationals through alternative options, such as:

- Investment in research and development

- Cultural heritage donations

- Investment in funds or venture capital funds

Additionally, Portugal recently announced the introduction of the Residence Permits for Social Investment option to expand the categories through which foreign nationals can acquire residency.

Italy:

While Italy's Golden Visa Program does not include a real estate investment option, internationals can still apply for residency by investing in real estate through the Company Startup option.

Overall, these changes reflect a broader trend in the EU to address housing shortages and escalating rents by limiting real estate investments through Golden Visa Programs, while still offering various other investment pathways for acquiring residency.

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