Some 2 EU Countries That Still Offer Golden Visas

European Union’s Golden Visa Programs – offering foreigners the opportunity to acquire residency in exchange for financial investment- continue to remain popular among wealthy investors from countries worldwide.

In spite of the European Commission’s ongoing calls addressed to EU governments running such schemes to terminate them, following allegations of their involvement in irregular affairs such as money laundering and corruption, several EU countries continue to operate Residency by Investment Programs, known as Golden Visa Programs, Schengen.News reports.

However, rules to acquire residency through this program differ among European countries.

In a bid to deal with the housing crisis, some EU countries such as Portugal and Spain, have abolished the real estate investment option, which is among the most famous options of this program.

However, other options for benefiting from this scheme continue to remain effective.

Hungary

From July 1 this year, Hungary relaunched its Golden Visa Program, after being terminated in 2017.

Known as the Guest Investor Program (GIP), the scheme permits internationals to acquire residency in this country by real estate option as well.

Acquiring residency through the GIP can be done by purchasing a real estate unit for at least €250,000 and purchasing a residential property for €500,000.

Another option offered through this program is donating at least €1 million to a higher educational institution in the country.

Greece

Among the requirements for benefiting from Greece’s Golden Visa Program is to make a financial contribution of at least €250,000.

Investing in real estate is possible through this scheme. While the minimum amount required to benefit from this scheme is €250,000, in some parts of the country the minimum amount has increased to €800,000. Such a decision was taken in a bid to deal with the housing crisis.