Golden Visa Programs are attractive options for people with high-net worth to get residency leading to permanent citizenship. Holding a European nationality is rewarding as you get some of the world’s most powerful passports and rights. The bad news is that Spanish PM Pedro Sanchez announced on Monday the end of the Spain Golden Visa. The program requires a 500K Euros investment and will soon become obsolete. The PM told reporters on Monday, 8th April 2024 that Spain is ending Golden Visa by Investing in Real Estate. PM Sanchez said that the decision will make access to affordable housing easy.
“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.
The Spanish government will start scrapping the Golden Visa during Tuesday’s weekly cabinet meeting. The government took steps after the Housing Ministry submitted the report on Spain’s housing crisis.
Spain Golden Visa News and the Changing Golden Visa Trends in Europe
European countries, including Portugal and Greece, have recently revamped their Golden Visa stream. Portugal prohibits real estate investment by diversifying the investment portfolio. Greece increased the Golden Visa investment for Real Estate to €800K. Spain Golden Visa changes is the latest to the stream,
What are Alternate Options to Spain Golden Visa to Become a Global Citizen by Investment?
The changing geopolitics, economy, and dynamics are driving policy change, leading to either reshuffling the Golden Visa Programs or countries completely ending them. Getting a Golden Visa from a European country means you have one of the strongest passports in the world. These Tier A passports can help you grow your business in international markets. Now the question is what are the available Golden Visa options in current scenario?
- Portugal Golden Visa
- Latvia Golden Visa
Portugal Golden Visa
Though the government of Portugal limits investment streams, still the Portugal Golden Visa is a viable option. The Portugal Golden Visa options start from €200K by supporting some artistic production or by contributing to the maintenance of national cultural heritage in an area with low population density.
Latvia Golden Visa
The Latvia Golden Visa is one of the cheapest options available for non-EU persons to get residency in a European country. You only need to invest €50K into a Latvian company along with a donation of €10K to government. After 10 years of living in Latvia, you become eligible for Latvian citizenship.
Get Caribbean Citizenship by Investment
Tired of meeting Golden Visa and citizenship requirements? You can get citizenship directly within 3-4 months. Caribbean countries also offer their passport to investors where you can invest in real estate or donate to Caribbean governments. The Caribbean citizenship by investment starts from $100K only, while easy requirements make Caribbean countries a hot favorite among investors. Further, there’s no need to visit the Caribbean countries. Remember that 4 Caribbean countries have signed MoU to increase the Golden Visa prices to a minimum of $200K. So, don’t delay in thinking, act fast to get benefit from the cheap Caribbean citizenship programs.
Here are the top Caribbean Countries offering citizenship by investment:
- St. Lucia
- Dominica
- Antigua & Barbuda
- Grenada
- St. Kitts & Nevis
Conclusion
It is not clear yet whether Spain will scrap the Golden Visa program as a whole or only the real estate stream will be revoked just like Portugal did. The year 2024 is all about changing the Golden Visa and citizenship programs worldwide. You should make your decisions in a timely manner to benefit from the available low-price programs for European countries, such as Golden Visa and Caribbean countries’ citizenship programs.
Note: This is a developing story and we are updating the content as we get updates.
