Visa for investment? In some places, citizenship costs both 100,000 and 300,000. euros

The Spanish cabinet decided this week that residence permits will no longer be issued in exchange for investments.

This procedure was introduced in 2013, when the country lacked foreign investment after the financial crisis.

According to it, the so-called golden visa, which allows both living in Spain and moving freely around the Schengen area, could be obtained by purchasing real estate in this country for at least half a million euros or investing in government bonds from 2 million. euros. However, even 94 percent out of 6.2 thousand such visas were issued to those who purchased expensive housing.

According to Transparency International, almost half of these Spanish visas went to the Chinese – 2,712.

Next were Russians (1,159), Iranians (203), the United States (179) and the United Kingdom (177).

Great Britain, which used a similar policy of residence permits in exchange for investments, abandoned it in 2022. largely due to the influx of Russian citizens who started the war.

Under pressure from the European Commission, other countries are acting similarly: Ireland will no longer issue such visas from next year, and Portugal will not allow residence in exchange for purchased real estate.

Until now, golden visas are still distributed by Cyprus, which requires investments there from 300 thousand. euros.

The cheapest such permits in the world are in Dominica and Antigua and Barbuda – the citizenship of these Caribbean countries can be bought for 100 thousand dollars.