Spain Golden Visa Ending! Top 5 Alternates for Non-EU Citizens
Spain Golden Visa is a popular option for non-EU citizens to get Spanish residency, leading to citizenship. The bad news is that the Spanish government to end Golden Visa Scheme by January 2025. Though the government was trying long ago to terminate the investor visa due to skyrocketing price rises of properties, the ruling Socialist Party PSOE has now found a way to close the chapter.
Spain Golden Visa – Government Legislation
Earlier in April 2024, Spanish PM Pedro Sanchez showed his intention to scrap Spain’s Golden Visa to bring down property prices. “Today, 94 out of every 100 such visas are linked to real estate investment in major cities that are facing a highly stressed market and where it’s almost impossible to find decent housing for those who already live, work, and pay their taxes there,” Spanish PM Sanchez said.
Changing Immigration Policies in 2024
The year 2024 is all about changes in immigration policies all around the world, including Portugal, Spain, Greece, the USA, and Canada. All these countries are either planning to end or have revamped their investment migration programs by increasing prices or restricting investment to some specific streams, especially real estate.
Top 5 Alternates to Spain Golden Visa
Now, the question arises: What are the alternatives to the Spain Golden Visa, and are they convenient or not?
EU Residency Option | Minimum Investment | Citizenship Possibility |
Latvia Golden Visa | €50,000 | 10 Years |
Malta Golden Visa | €100,000 | Variable Time |
Greece Golden Visa | €250,000 | 7 Years |
Hungary Golden Visa | €250,000 | 11 Years |
Portugal Golden Visa | €500,000 | 5 Years |
Here are details about the top 5 alternates to the Spain Golden Visa program:
Latvia Golden Visa Program
Latvia Golden Visa is one of the most affordable EU residency options and it starts with a minimum investment of €50,000. You can get Latvia residency along with family members and can apply for Latvia citizenship after residing in the country for 10 years. You must contribute €50,000 to the equity capital of a Latvian-based company that pays €40,000 or more in taxes to the Latvian government.
Malta Golden Visa Program
Malta Golden Visa offers EU residency by investment with a minimum contribution to the government starting from €100,000 and goes to €600,000. Malta residency by investment options include renting a property or purchasing the real estate.
Greece Golden Visa
Greece Golden Visa is a residency by investment program for non-EU citizens. Greece residency investment starts with €250,000 in the real estate sector, and you get travel freedom in Schengen states during Greece residency. After residing for a minimum of 7 years in Greece, you can apply for citizenship in Greece. Greece passport is the 5th most powerful passport, with visa-free travel to 189 destinations out of 227.
Hungary Golden Visa
Hungary has relaunched its Golden Visa program in 2024, and the good news is that authorities have reduced the investment amount. Originally known as the Hungary Guest Investor Program, you can get Hungary residency for 10 years with a minimum investment of €250,000. Hungary residency is renewable for a further 10 years, and you can include your family members in the Hungary Golden Visa Application.
Hungary Golden Visa Investment Options
Hungary Golden Visa investment includes three options: i.e. a contribution of €250,000 to the Real Estate Investment Fund, Real Estate Acquisition with a minimum investment of €500,000 or a donation of €10,00,000 to a Hungarian Public Trust.
Portugal Golden Visa
Portugal Golden Visa is a famous residency by investment program known for its convenience and quickest pathway to Portugal citizenship. With a minimum investment of €500,000 or more, you get Portugal residency for 5 years along with your family members. Portugal Golden Visa investors only need to stay for 7 days a year in country to maintain their residency status.
Portugal Golden Visa Investment Options
Investment options include capital transfer or business creation with a minimum of ten new job creations. Capital transfer include the acquisition of investment funds or venture capital fund units.
Most Popular Golden Visa Program in 2024
Considering the current world order, political, social and economic scenarios, Portugal Golden Visa is an ideal option for non-EU citizens. Apart from benefiting from Portugal residency, investors get rights to live, work and travel freedom across Schengen states. Portugal is not only the most affordable developed country in Western Europe, but also offer a quality lifestyle for people from all ages. The most recent Google Search Trends shows that Americans are searching for Portugal Golden Visa and how to get Portugal citizenship.