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Блумберга Interest in so-called golden visas - which give residency rights through real estate purchases or other investments - has spiked since Donald Trump’s victory earlier this month, according to consulting firms in the industry.
Portugal, Greece and Spain receive the most queries
Portugal
Portugal increased costs to access its program to €500,000 from €350,000 in 2022. And the option to invest in real estate was scrapped last October, with investments in venture capital funds or job creation now needed to qualify.
Applicants also face delays due to a backlog of more than 400,000 visa applications in the country. To speed up the process, a number of them have started legal action against Portugal’s immigration agency.
Spain, Greece and Italy
In Spain, the current option to gain the visa by investing €500,000 in real estate is being debated. Parliament approved a bill to scrap the program, but it still needs to go through the Senate.
Greece increased the minimum real estate threshold required starting this September from €250,000 to €400,000 in rural areas and €800,000 in large cities and some popular islands. Investors are only allowed one property purchase under the program and it can't be used for short-term rental.
This comes amid concerns of rising house prices in the country. In Athens alone, rents rose 23% in 2023. Still, many say reining in golden visas won't stop rampant house inflation, which has more to do with systemic supply shortages.
In Italy, a €250,000 investment in local startups is needed to get residency, although citizenship is harder to obtain.
Caribbean
The European Union has put pressure on some Caribbean nations that provide citizenship that gives access to the EU. In response, four of those nations increased the price of their programs in June, charging a minimum of $200,000 for their passports. Antigua and Barbuda now ask for a minimum real estate investment of $300,000, while investors in St. Kitts and Nevis can invest $250,000 in a fund, buy shares in a government-approved real estate project for at least $325,000, or purchase a home for a minimum of $600,000.