Another European Nation Ends Golden Visa Programs

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Another European Nation Ends Golden Visa Programs

[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]”Wealthy billionaires worldwide will lose the opportunity to obtain Netherlands’ Golden Visas, as the program will be discontinued. The Immigration and Naturalisation Service in the Netherlands (NLS) officially announced that the residence permit for investors will no longer be available starting January 1, 2024.

The Dutch Golden Visa Program allowed affluent foreign investors to gain residency by contributing a minimum of €1,250,000 to the country’s economy and meeting specific criteria. These individuals were required to invest the amount in a Netherlands-based company or in a fund aligned with the SEED scheme, which is a venture company or joint venture investing in Dutch companies.

Read more : Yashma Gill Expresses Gratitude For 10-Year Golden Visa

The NLS stated that the investment amount should be deposited in a bank account of a Dutch bank or an EU Member State bank with a branch in the Netherlands.

The Golden Visa Program was introduced in the Netherlands in 2013 to stimulate economic growth but underwent modifications in 2018. While other European countries, including Spain, Portugal, and Greece, introduced similar Golden Visa schemes, Portugal is also discontinuing its program. This decision came despite Portugal witnessing a significant 41.9 percent increase in investments through the program last year.

Some speculate that rising real estate and housing rental prices, which posed challenges for locals, played a role in discontinuing the scheme. Additionally, EU authorities have repeatedly urged European countries offering Golden Visas to suspend the program, citing concerns that it provides opportunities for criminals to acquire residency.”[/vc_column_text][/vc_column][/vc_row]

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