EU Golden Visa Hungary
Does Spain still offer a golden visa? Spain launched its residence by investment scheme in 2013. It allowed wealthy people from outside the EU to obtain residency permits on investing more than €500,000 in real estate or certain types of business. However, on Monday 8 April, the country's government said it plans to scrap the real estate route - which accounts for 94 per cent of applications - to reduce pressure on the housing market. The legal process for ending the visa is still underway. Socialist Prime Minister Pedro Sánchez said the reform was part of his minority coalition government's push to make housing “a right, not a speculative business”. The government says some 10,000 such visas have been issued since the measure was brought into law in 2013 by a previous right-wing Popular Party government as a means to attract foreign investors. The visa can also be gained by starting certain types of business in Spain, holding company shares or bank deposits with a minimum value of €1 million in Spanish financial institutions, or making a government bonds investment of at least €2 million. Hungary golden visa scheme Bucking the trend, Hungary has announced plans to reintroduce its golden visa scheme on 1 July 2024, after having ended it back in 2017. The so-called Guest Investor Program (GIP) will offer three routes to residency, including through real estate investment (minimum €250,000), purchasing a residential property (minimum €500,000) or donating at least €1 million to a higher educational institution in the country. The visa is extended to the spouse and dependent children of the applicant and grants visa-free travel in the EU. Italy's golden visa scheme Italy is another popular destination for those looking to get residence by investment. Introduced in 2017,