For many years, many applicas to immigrate to European couries in order to enjoy the rights of European Union citizens have obtained residence in these couries through various investmes. But according to the latest news, some European couries have stopped issuing investme visas to foreign applicas for some reason. Although the path of immigration for work, education and other residence visas of these couries is still open to foreign applicas. This article examines whether the era of migration through investme in Europe has come to an end.
The official end of the golden visa era in Europe
The Portuguese governme suspended its Golden Visa program in part due to problems related to the lack of housing for its citizens.
In 2020, the coury of Cyprus stopped the program of obtaining citizenship and citizenship by investme (similar to the golden visa but with citizenship and citizenship and not just obtaining a residence permit).
In February 2022, the UK ended its foreign investme program and the visa process Invest in England stopped
In January 2023, EU satellite coury Moenegro stopped its citizenship by investme program.
And now, that seems to have turned the tables, as Ireland and Portugal both abruptly suspended their golden visa programs within a week of each other in February this year.
Ireland abruptly canceled its citizenship-by-investme program on February 15.
Just days after Ireland’s announceme, Portugal also announced that it would end its golden visa program, and on July 19, the Portuguese Parliame passed the law. Although this law must be signed by the preside to be implemeed. Perhaps in September, the death knell of the Portuguese Golden Visa program will also sound.
Golden Visa history
Golden visas are residence permits that each coury gras to qualified applicas based on the capital required to launch construction, research, or manufacturing projects. Following the financial crisis of 2008, several European couries launched and implemeed these programs.
The concept was simple: spend some money in this coury and get the right to live and work in this coury.
Golden Visa program by investing in real estate (usually $500,000 or more), starting a business (in the form of a business corporation) within that coury, or making a deposit in an approved bank fund or buying governme stocks and bonds. It is the coury. These programs are attractive to wealthy investors from non-EU couries because they provide visa-free access to the eire Schengen area, i.e. around 27 couries. In addition, they enjoy the rights and rights of European citizenship and other amazing benefits of obtaining citizenship and citizenship of a European coury.
Portugal was the first coury to impleme the golden visa program. Later, Spain, Greece, Cyprus, Italy, Ireland and other couries also followed this program. But now, this “golden age” of residency and citizenship programs appears to be coming to an end.
Why are these visas under threat now?
The European Commission, the governing “executive committee” of the European Union, is not very ierested in investme visas and golden visas, and on the one hand, it has done everything it could to discourage couries from implemeing and issuing the golden visa program, and on the other hand, Attempts to stop the process of issuing golden visa applications.
Portugal’s final decision
Portugal’s golden visa program is the biggest loser.
Through Portugal’s golden visa program, you can obtain EU residency for a minimum of €250,000 and you only need to stay in Portugal for one week a year to maiain this visa. After 5 years, with the necessary conditions, you can get an EU passport and live and work anywhere in the 27 couries of the Schengen area without any restrictions.
According to the new law, there will be several options for obtaining a Portuguese residence permit for investme applicas, including an investme of 250,000 euros in Portuguese cultural or heritage projects, an investme of 500,000 euros in research and scieific projects, or an investme of 500,000 Euro to start a business that creates 5 permane jobs for Portuguese citizens. But buying a house and property in Portugal no longer makes you eligible for Portuguese citizenship.
Of course, buying a house in exchange for obtaining Portuguese citizenship was the most popular and most requested part of the golden visa program, and the only importa reason that had attracted the atteion of many immigras uil now was buying a house and property and obtaining Portuguese citizenship.
My lawyer in Portugal, João Gil Figueira, explained a little about the suspension of the Golden Visa program and revealed the story behind the problem.
The story is that the investme option through the purchase of Golden Visa properties increases the price of houses and housing. But investors buying houses and properties through golden visas are a very small perceage of home and property buyers in Portugal and even a small perceage of foreign buyers. Therefore, it is not logical that they are the main reason for the sharp increase in real estate prices.
My lawyer said: “In the daily news, many promises are made about the problems related to the lack of affordable housing. But the governme must do something importa to increase affordable housing and not just make sweet promises.”
In fact, the golden visa is considered as a victim of the high house prices in Portugal, and the governme should do something about it. Therefore, the Portuguese governme approved the new “more housing” law.
According to this law, all golden visa applicas must comply with the new rules. According to these new rules, applicas must live full-time in their purchased property or house in Portugal, or re these houses, or stay in Portugal for more than 180 days a year.
There were many reactions to this new law.
“If you suddenly remove a program like the golden visa program for previous applicas, it will be a stain on Portugal’s reputation as a favorable destination for foreign direct investme.”
So the governme backed down.
The final version of the recely passed law allows Golden Visa real estate investors to keep their Golden Visa under the same conditions as before, which is a big win for these investors. But there are still several options for obtaining residency through investme, but buying a property will no longer be one of them. There are still good reasons to invest in buying a house and property in Portugal, including the poteial for good returns from reing a house and property, as well as the trend of house prices increasing each year and making a profit from buying a house. If you plan to have a house and property in Portugal and live there, you can get your residence permit by living and staying in Portugal. This also applies to applicas who re a house.
Retireme Visa D7 Portugal
The popular Portugal D7 retireme visa is still issued to qualified applicas. This coury has recely iroduced the new digital nomad visa for work tour applicas. In addition, if the governme’s “More Housing” law has a big impact and lowers house and property prices in this coury, we will witness a new and exciting mome for buying in one of the best markets in Europe. Although the golden visa period may be coming to an end, Portugal still shines as a great destination for iernational applicas for many reasons.
There is still a golden opportunity
If you are ierested in living and investing in Portugal or any other coury in Europe, stopping the process of issuing these visas is not necessarily negative and can be a positive step. The suspension of golden visas may cause prices to fall in the real estate market, and this is a great opportunity to buy. You may no longer be able to obtain Portuguese residence by buying a house or property, but you can still purchase a house and property in a European coury in order to invest or improve your lifestyle and obtain a residence permit through the traditional route of usual residence in this coury. Get that coury.
And there are still opportunities to obtain a European residence permit through an investme-like program Invest in England There is.
Greece implemeed changes to its Golden Visa program this year, effective July 31. The capital required to obtain a Greek Golden Visa has changed from 250,000 Euros to 500,000 Euros, but no law has been announced to stop the issuance of Golden Visas.
Spain, Italy and the island and sunny coury of Malta also coinue to issue golden visas. Although the coury of Italy does not have the option of investing through the purchase of a house and property, and in fact applicas cannot obtain a residence permit and citizenship of this coury by purchasing a house and property in Italy.
And since the end of the initial agreeme to obtain citizenship and citizenship through investme in 2020, Cyprus is implemeing the new golden visa program and issuing this visa to foreign applicas.
Action time
If you have the necessary capital for various investmes in European couries and wa to obtain a residence permit for EU member states, although several options have now been eliminated, the borders of Europe are still very open to foreign applicas and North American citizens.
Now is the time to choose your Golden Visa.
Before it’s too late.
Conclusion
Buying a house and property, getting a retireme visa, getting a financial visa, getting an investme visa, etc. are among the methods of investme migration to European couries. Although some European couries do not gra citizenship through the purchase of a house or property, investing by buying a house and reing it in the short and long term can be a profitable activity. In addition to the investme visa, most European couries also gra golden visas to qualified applicas. This visa has many privileges, including freedom of moveme to Schengen couries and other couries of the world, and ultimately leads to obtaining the passport of that coury. Applicas who iend to invest in European couries can obtain a European investme visa in the shortest time and at the lowest cost through the Estehbanati Immigration Institute.
