Time flies, and 2023 has come to December, which can be described as a year of great changes in European immigration policy. Greece has raised the investment threshold in some popular areas to 500,000 euros, and Cyprus has abolished both parents who carry the main and secondary applications.
Before 2025, the policy will be further tightened across Europe, and the immigration policy for home buyers will become more and more tight. At present, it is the last opportunity, simply and loosely buy a house to get status. Next, let's summarize which countries in Europe have made immigration policy adjustments this year. These include popular emigration destinations that attract the attention of global investors, as well as livable immigration destinations that are popular with Chinese investors.
Ireland Citizenship by Investment, abruptly closed
Ireland's investment immigration programme has long been favoured by Chinese investors, with the number of applicants from China surging by 410% between December and January. However, on February 14, 2023, Ireland** unexpectedly announced that the country's Immigrant Investor Program (IIP) will officially stop accepting new applications from the end of the working day on February 15, 2023.
It is worth mentioning that this initiative will not have an impact on previously approved projects. This means that those projects that have already been vetted can continue to seek new investors to meet their funding needs. For those looking to obtain Irish status, there are still a limited number of places available, but opportunities are scarce.
Portugal house purchase immigration, the curtain has come to an end
On October 6, 2023, the Portuguese Parliament approved new legislation, officially announcing the end of the home purchase immigration program, which will come into force on October 7. This marks the end of the 11-year-old Portuguese home purchase immigration program.
According to official data from the Portuguese Immigration Agency, as of the end of October 2022, a total of 11,263 main applicants had been approved through the so-called ** visa, of which Chinese applicants accounted for about 50% of them, or 5,209 main applicants. It is worth noting that the new legislation closes the immigration route for home buyers, not the visa itself. The visa will continue to be open to two pathways: job creation and investment in non-real estate.
Greece has purchased a house for immigrants, and the investment threshold has been doubled
On August 1, 2023, the Greek Home Purchase Immigration Program officially announced that it would raise the investment threshold from 250,000 euros to 500,000 euros in some regions. The affected areas include the central, northern and southern regions of Athens, Thessaloniki, Mykonos and Santorini.
The move means that the minimum investment required to apply for a Greece** visa will also increase from €250,000 to €500,000. In addition, the number of properties to be purchased will also be limited to one property worth 500,000 euros, which can no longer be purchased in combination. The previous rules allowed investors to purchase multiple properties and apply for Greek immigration as long as the total value reached €250,000.
Over the past decade, EU residency has cost around €200,000 to €500,000 to buy a property. However, with the recovery of the EU economy, it is no longer necessary to pass"Visas"Attracting foreign funds, as a result of which such immigration programs are gradually closed.
In fact, immigration programs often have specific cyclical changes, especially investment immigration programs. Generally speaking, these projects go through a cyclical change of about a decade or so, which includes large-scale reforms, temporary closures, and even reopenings.
Cyprus property immigration, unable to bring both parents
As of May 2, 2023, a new policy will be implemented for permanent residency in Cyprus:
1. Fewer accompanying attachment applications: The new policy no longer allows both parents to be carried, but the age limit for children remains the same.
2. Income requirements are raised: The annual income requirement of the main applicant is increased to more than 50,000 euros, and the total income of a family of three must reach 7More than 50,000 euros.
3. Tax certificate: tax declaration certificate is required.
4. Medical insurance: All family members must provide proof of medical insurance.
So, what other avenues are there for Chinese investors to immigrate to Europe?
Malta is a permanent residence in a four-in-one country
Malta is a great choice because it is the only "four-in-one country" in the world. The country is a member of the European Union, a Schengen member, a member of the Eurozone, and a member of the Commonwealth at the same time, and obtaining Maltese status is equivalent to obtaining all four statuses at the same time.
In addition, Malta is one of the world's 32 developed countries and regions, and its economy is growing at a steady annual growth rate of more than 6%. Malta has an excellent education system, ranked 13th in the world, and offers free public education with points that can be used in the European Union.
Malta is world-leading in terms of medical standards, ranking fifth in the World Health Organization's ranking of healthcare systems. All people have access to free public health care, and the standard of medical care is very high.
Turkish house buyers immigrants, allegedly going to increase prices
In addition to Malta, Turkey is also an excellent choice as a candidate country for the European Union. One of Turkey's most striking advantages is that it can serve as a springboard to the UK or the US. Many people subtly migrate by naturalizing Turkey, living in the U.S. as an E-2 investor, or settling in the U.K. on a Turkish business visa.
In addition, once approved, visa-free travel to 117 countries and territories is also available. Now you only need to buy a property for a minimum of $400,000, you can get your identity and passport immediately, and after 3 years, you can choose** or rent out the property and achieve capital**. However, Turkey is said to be raising the citizenship by investment threshold to $600,000 next year, so hurry up!
That's it for the changes in European immigration policy in 2023. Before 2025, the policy will be further tightened across Europe, and the immigration policy for home buyers will become more and more tight. At present, it is the last opportunity, simply and loosely buy a house to get status.