According to Biz News' most recent analysis, which indicates that the difficulty of acquiring a visa through these schemes hasn't greatly increased, such conclusions have been reached. EU Helpers reports.

Additionally, 1,218 golden visas were given by Portuguese authorities in 2022. In contrast, the nation received 861 applications during the first half of this year as opposed to 624 during the same period last year.

4,365 applications for golden visas were submitted to Greece last year, 2,432 of which came in the final three months of 2022.

Last year, 79 golden visas were issued in Italy, with the bulk going to citizens of the United States, the United Kingdom, and Russia. This is roughly twice as much as the prior year.

Spanish authorities issued 2,462 golden visas in total last year, which represents a 60% rise from 2021 numbers.

Ireland got 1,16 applications for the golden visa program in 2022, and a total of 1,350 applications for the program were logged between January and May 25, 2023.

But according to a study from Biz News, this type of visa's unclear future causes demand for and interest in alternatives like the digital nomad visa to soar.

Several European nations still permit affluent foreigners to seek residency and citizenship privileges through the Golden Visa and Golden Passport Programs, despite the fact that the European Commission has frequently urged those nations to stop offering such programs.

While the Citizenship by Investment Program allows them to obtain citizenship through their financial contribution to them, the Residency by Investment Program allows foreigners and their families to obtain residency in particular countries if they invest a certain amount of money and meet the necessary requirements.

However, given that these programs reportedly frequently permitted people involved in illegal activities, such as money laundering and corruption, to benefit from them, the future of such residency and citizenship may be dubious. Several nations terminated them as a result of their pretensions.

The digital nomad visa, on the other hand, enables people to work for organizations or clients that are based outside of the country while being able to lawfully remain in countries that provide such visas.

Cyprus was one of the nations that was forced to end its Golden Visa scheme as a result of the Al Jazeera expose titled "The Cyprus Papers," which highlighted various illegal activities connected to this scheme.

Ireland made the announcement that applications would no longer be accepted for its Investor Visa Program in February of this year.

Portugal said in the same month that it would end two paths to obtaining residency through its Golden Visa Program due to the housing crisis.

Rich foreign investors, particularly those from the United States, have turned their attention to other European nations that are running similar programs, such as Greece and Spain, as a result of Ireland and Portugal's choice.

Despite the fact that the Spanish government also stated that the Golden Visa Program would soon be terminated, a decision has not yet been made in response to a measure that Mas Pais' leader submitted to the Congress earlier this year.