Just curious if anyone has heard rumblings of any changes to existing GV programs or countries that may start new ones (I.E. France, Italy, etc), to make up for budget shortfalls from the loss of tourism.
I have heard Russia plans to introduce Golden visa in 2021. There are also several South American countries that are modifying their programs.
Bahamas are considering GV program also.
Thank you for the input. I’m hoping more EU countries might consider looser GV programs to make up for the loss in tourism. Croatia, France, Italy, to name a few are all heavily dependent on tourism dollars it seems they would want to make up that revenue and bring new blood into their economies.
Mebbe. A lot of countries are already skittish about the GV programs and mood in EU makes it a little problematic.
I kind of feel like there’s already a ton of options. Greece at 250k sets an awful low bar. If you dig around, there are already GV-like options in some of these countries if you’re willing to put in the work. You can do Germany for 300k if you’re willing to stand up a business, and there are firms that’ll help you with that. Belgium can be made to work. It’s just a q of how much you’re willing to “lose” as part of the process and how much convolution you’re willing to go with.
Italy already has Investor Visa program up and running since 2018. It is pretty straightforward and has some advantages compared to other GV programmes.
For instance, you have the the answer about the outcome of your visa application before you make the investment and not after (e.g. in Portugal you have to invest before and then apply).
Investment can be done directly from a foreign company or investment vehicle (as long as the applicant is the B.O.) so you don’t have to move the money in an Italian bank to make the investment.
The investment options for the Italian visa are mainly 2:
Invest at least 500k in any italian company (can be a private company or a listed company like FCA),
Invest at least 250k in a innovative startup
There is no Real estate option but this can be achieved through option 1 if you invest in a company that purchase a property after
The downside of this program is that there is not the concept of Applicant and dependent so in theory each element of the family should make the investment. Anyway, this can be also resolved through family reunification process.
Another interesting thing about this program is that you don’t need to spend time in Italy during the residence permit, not even the 7 days required in Portugal.
After 5 years you can require permanent residency and after 10 years you can apply for citizenship.
I believe this is the strongest program for HNWI because it gives direct access to the Schengen arean and can be combined with very interesting tax relief opportunities for foreigners.
Hope this can help
Loosening not so sure yet, but Portugal is tightening their GV, announcement just out as below:
<Portugal’s Golden Visa Latest Regulation Changes>
According to the latest discussion, Portugal governement as decided to make changes to current GV regulations - to end the property investment channel for Golden Visa in big cities like Lisbon & Porto.
New regulation will be effective by July 1st, 2021. There will be approximately 2 years of transition period in 2021 and 2022, where the investment threshold for these cities will gradually increase.
According to the budget, the government will end property investment in coastal area and metropolitan cities. For those initially approved visa, renewal of visa is permitted.
According to Mariana Vieira da Silva, 'GV investment are linked prominently to property investment. We hope to channel this investment to inner continent area, to create more developments and jobs to those areas.
Details will be announced in the decree law. We will keep posted on all new announcements, and post recommendations on investment strategy due to the new regulations, and other investment channels for Golden Visa.
Very interesting. Do you happen to know the best resources for information and advice about where and how to invest in both Italian options?
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