The Future of Golden Visa Programs in 2025 and EU Regulations

Entrance

Over the past decade, Golden Visa programs, which grant residency rights through investment in Europe, have become one of the most controversial issues in global immigration policy. Countries such as Greece, Spain, Portugal, Malta, Hungary, and Cyprus have offered low taxes, fast residency permits, and quick paths to citizenship to attract foreign investors.

However, these programs not only presented attractive opportunities for investors but also the focus of political debate within the EU . The European Commission has put on its agenda stricter regulations against these programs due to concerns about money laundering, tax evasion, and security.

This guide will comprehensively address the future of Golden Visa programs in 2025 ; evaluating discussions at the EU level, country-specific developments, opportunities for Turkish investors, the transformation of investment options, and future strategies

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1. The Legal Basis of the Golden Visa

1.1. National Laws

Each country regulates the Golden Visa within the framework of its own foreigners and immigration laws . For example:

• Greece: Law No. 4251/2014,

• Spain: Entrepreneurship Act No. 14/2013

• Portugal: Law No. 29/2012.

1.2. EU Law

EU law does not directly prohibit the Golden Visa, but the right of free movement, a residence permit issued by one member state is valid throughout the Schengen area. This situation creates debate at the EU level.

1.3. Schengen System

Residence permits issued with the Golden Visa allow investors free movement within Schengen countries under the 90/180 day rule.

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2. Criticisms from the European Commission

2.1. Money Laundering

The EU argues that residency programs through investment increase the risk of money laundering.

2.2. Tax Evasion

Offshore funds and low-tax real estate investments, in particular, raise concerns about tax evasion.

2.3. Security Risk

There are allegations that investors entering the country are not adequately monitored, and that some individuals are able to easily enter the EU.

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3. The Future of Greece

Greece's Golden Visa currently grants residency permits based on a €250,000 real estate investment . However, raising this threshold to €500,000 by 2025 is under discussion. Rising prices in major cities like Athens and Thessaloniki have prompted the government to seek new regulations.

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4. Spain's Stance

Spain €500,000 real estate investment requirement. However, there are criticisms in the Spanish Parliament that the high volume of foreign purchases is driving up housing prices. Reforms may be on the agenda in the 2025–2026 period.

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5. Portugal's 2023 Reform

Portugal has completely eliminated the real estate option and is now running the program through funding, R&D, employment, and cultural contributions. This change was made under pressure from the EU. As of 2025, the Portuguese Golden Visa has evolved into a more selective but more sustainable model.

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6. The Return of Hungary

Hungary reopened its Residence Bond Program in 2024, which it had closed in 2017. It is possible to obtain a Golden Visa in 2025 a €250,000 fund investment or a €300,000 government bond investment . This is one of the lowest-cost options in Europe for Turkish investors.

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7. Other EU Countries

• Malta: Its direct citizenship program is one of the most controversial within the EU.

• Ireland: Closed the program in 2023.

• Cyprus: Canceled the program in 2020 under pressure from the EU.

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8. The EU's Search for Common Standards

The European Commission aims to introduce common standards for all Golden Visa programs by 2025

• Thorough background checks of investors,

• Increasing minimum waiting times,

• Longer residency requirement for obtaining citizenship.

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9. Evaluation from the Perspective of Turkish Investors

The most attractive options for Turkish investors:

• Greece: Residence permit with €250,000, citizenship after 7 years.

• Hungary: Residence permit with €250,000 in funding, citizenship after 8 years.

• Portugal: Residence permit with €500,000 in funding, citizenship after 5 years.

• Spain: Residence permit with €500,000 real estate investment, citizenship after 10 years.

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10. The Future of Investment Options

• Real estate investment: It's being gradually phased out.

• Fund investments: On an upward trend.

• Job creation: Encouraged by the EU.

• Cultural projects: A new EU-supported model.

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11. Comparison of Citizenship Duration

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12. Schengen Free Movement and the Post-Brexit Situation

Golden Visa holders have the right to free movement within the Schengen area. However, since the UK has left the EU, this right no longer applies to the UK.

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13. The Future of Tax Advantages

• Portugal's NHR system: 10 years of advantage, but may be scaled back after 2025.

• Hungary's corporate tax rate is 9%, the lowest in the EU.

• Malta: Under EU supervision due to its low corporate tax rate.

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14. Application Scenarios

1. Turkish Businessman: He buys a house in Greece and gains Schengen free movement rights.

2. Investor Group: Invests in funds in Portugal.

3. Retired couple: Buy a villa in Spain.

4. Young Entrepreneur: Invests in a start-up in Hungary.
   5–10: Naturalization, tax planning, children's education, family reunification, second investment.

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15. Frequently Asked Questions (FAQ)

Q1: Will the EU ban Golden Visa programs?
No, but standards could be introduced.

Q2: Is real estate investment tax being abolished in all countries?
Portugal has abolished it, and it's being debated in Greece and Spain.

Q3: Which country offers the fastest citizenship for Turks?
Portugal (5 years).

S4: Which is the lowest cost program?
Greece and Hungary (€250,000).

S5: Are family members included in the program?
Yes.

Q6: Is dual citizenship possible?
Yes, in most countries.

S7: Is free movement within the Schengen area ensured?
Yes.

S8: Will tax advantages continue?
They may be scaled back in some countries.

Q9: Is it possible to travel to the UK with a Golden Visa?
No, it's not possible after Brexit.

S10–30: inheritance transfer, fund risks, post-rejection litigation, residence permit renewal, citizenship tests, EU checks.

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Conclusion: Golden Visa Strategies for 2025 and Beyond

As of 2025, Golden Visa programs will continue to exist within the EU, but will become increasingly selective. Investments based on funds and employment will take precedence over real estate investment, while the paths to citizenship will become longer and more stringent.

The most suitable strategies for Turkish investors:

• Those seeking citizenship quickly: Portugal,

• For those looking for lower costs: Greece or Hungary,

• Those interested in real estate investment: Spain.

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