Golden Visas Are Dying—What’s Replacing Them in 2025?

For years, Golden Visas have been a popular route for investors seeking residency by investment, but in 2025, many countries are phasing them out. With the EU crackdown on these programs, concerns over money laundering and fraud risks, and a shift toward merit-based immigration, the once-popular pathway is rapidly disappearing. Countries that once relied on these schemes, like Portugal and Spain, are now replacing them with talent-based residency programs, startup and entrepreneur visas, and digital nomad visas. While some nations still offer property-based residency, stricter rules now require higher investments and local job creation. As Golden Visas 2025 changes take effect, investors and expats must explore new options for global mobility and long-term residency. So, what’s replacing these programs, and where should investors look next? Let’s break it all down.

Why Are Golden Visas Disappearing?

For years, Golden Visas have allowed wealthy investors to gain residency or even citizenship by investing in a country’s economy. These programs have been especially popular in Europe, attracting foreign capital through real estate purchases, business investments, and government bonds. However, in recent years, many countries have started shutting down or restricting these visa schemes. The European Union (EU), along with other global regulators, has raised serious concerns about security risks, fraud, and unfair advantages.

Governments are now shifting towards merit-based immigration, favoring skilled professionals over passive investors. Public opposition has also grown, with many seeing Golden Visas as a way for the ultra-rich to bypass immigration laws. Below, we explore the key reasons why these programs are disappearing.

EU Crackdown: How the European Union Has Pressured Countries to End These Programs

The European Union has played a major role in the decline of Golden Visas, especially in member states that previously offered them, such as Portugal, Spain, Greece, and Ireland. The EU sees these visa programs as security threats, allowing individuals with unknown backgrounds to enter and move freely across the Schengen Zone.

In 2022, the European Commission called on all member states to phase out Golden Visas, citing risks of money laundering, corruption, and tax evasion. The EU argued that selling residency or citizenship undermines the integrity of immigration systems and creates loopholes for financial crimes.

Some key actions taken by the EU include:

Increased Scrutiny: Countries offering Golden Visas faced pressure to tighten background checks on applicants.
Legal Warnings: The EU issued warnings to governments, urging them to reconsider these programs or risk financial penalties.
Visa Restrictions: Some countries faced diplomatic pressure to align their immigration policies with EU regulations.

As a result, several countries, including Portugal and Ireland, have already ended their Golden Visa programs, while others, like Greece, have made significant changes to limit access.

Money Laundering & Fraud Risks: Why Governments See Them as Loopholes for Illicit Money

One of the biggest concerns with Golden Visas is their potential to be used for illegal financial activities. Many governments have found that these programs create an easy pathway for money laundering, tax evasion, and fraud. Wealthy individuals from countries with weak financial regulations have often used Golden Visas to move large sums of money across borders without proper oversight.

Investigations have revealed cases where criminal networks used Golden Visas to:

Hide illicit wealth by investing in real estate.
Gain residency or citizenship in stable countries to avoid prosecution.
Launder money through complex investment schemes.

A 2021 report by the European Parliament found that some Golden Visa programs had weak due diligence processes, allowing individuals with criminal ties to gain residency. Governments are now introducing stricter financial checks, but many have chosen to shut down these programs entirely to prevent further abuse.

Political & Public Backlash: Rising Concerns Over Unfair Advantages for the Wealthy

Over the years, Golden Visas have faced growing criticism from both politicians and the general public. Many people see them as a way for the rich to buy access to countries while regular immigrants face long application processes and strict requirements.

Some key criticisms include:

Unfair Access to Residency: Wealthy investors can secure visas quickly, while skilled workers or family migrants face long waiting times.
Rising Property Prices: In countries like Portugal and Spain, Golden Visas led to real estate price inflation, making housing unaffordable for locals.
Limited Economic Benefits: While these programs attract investment, critics argue that they do not create enough jobs or long-term economic growth.

Public opposition has led to political pressure, forcing many governments to reconsider their Golden Visa policies. In countries like Portugal, mass protests over housing affordability played a role in ending the program. Politicians have also used the issue to gain voter support, promising to reform immigration policies in favor of local citizens.

Shift Toward “Merit-Based” Immigration: Countries Now Prefer Skilled Professionals Over Passive Investors

As Golden Visas disappear, many countries are shifting their focus to merit-based immigration, prioritizing skilled professionals, entrepreneurs, and innovators over passive investors. Governments see this as a better way to attract talent that contributes directly to economic growth.

Key trends replacing Golden Visas include:

Global Talent Visas: Countries like the UK, Canada, and Australia are creating visa programs that target highly skilled workers in fields like technology, medicine, and engineering.
Startup & Entrepreneur Visas: Some governments are encouraging investment through business creation rather than passive real estate purchases.
Digital Nomad Visas: Many countries now offer residency permits for remote workers who bring in foreign income without taking local jobs.

This shift reflects a global change in immigration policies, where governments seek long-term economic contributions rather than short-term investments. The demand for skilled professionals is increasing, and Golden Visas no longer align with modern workforce needs.

The era of Golden Visas is coming to an end as governments crack down on security risks, financial loopholes, and public discontent. The European Union’s pressure, fraud concerns, and growing political backlash have made these programs unsustainable. Instead, countries are adopting merit-based immigration, offering visas to skilled workers, entrepreneurs, and digital nomads.

As 2025 approaches, those looking for residency or citizenship through investment will need to explore alternative pathways. The global immigration landscape is changing, and understanding these shifts is key to making informed decisions.

What’s Replacing Golden Visas in 2025?

Golden Visas have been a popular way for wealthy individuals to gain residency in foreign countries. These programs allowed people to invest in real estate or government bonds in exchange for residency and, in some cases, a path to citizenship. However, many countries are now phasing out these programs due to concerns about security, money laundering, and economic fairness.

In 2025, governments are shifting their focus to residency programs that prioritize talent, innovation, and economic contributions beyond just financial investment. The new alternatives include Talent-Based Residency Programs, Stricter Property-Based Residency Rules, and Digital Nomad Visas. These changes aim to attract skilled professionals, job creators, and remote workers rather than passive investors.

a) Talent-Based Residency Programs

As Golden Visas disappear, many countries are introducing talent-based residency programs. These programs focus on professionals with high-demand skills, entrepreneurs, and experts in key industries.

Global Talent Visas: Why Countries Are Favoring Highly Skilled Workers Over Passive Investors

Governments are now giving residency to individuals who can contribute to the economy through their expertise rather than just their wealth. Global Talent Visas allow highly skilled workers in fields like technology, engineering, finance, and healthcare to gain residency.

United Kingdom: The UK’s Global Talent Visa is designed for professionals in science, technology, engineering, and mathematics (STEM), arts, and digital industries. It allows highly skilled individuals to live and work in the UK without needing a job offer.
Australia: The Global Talent Independent (GTI) program targets experts in cybersecurity, fintech, AI, and space technology.
Canada: The Express Entry System prioritizes skilled workers based on their expertise and ability to fill labor gaps.

Countries prefer this approach because it strengthens their workforce and economy. Unlike Golden Visas, which allowed passive investments, these programs bring innovation, research, and long-term contributions.

Startup & Entrepreneur Visas: How Governments Now Prioritize Innovation Over Wealth

Many countries are replacing Golden Visas with Startup & Entrepreneur Visas. These programs attract business-minded individuals who can create jobs, introduce new technologies, and boost local economies.

Portugal: Even though its Golden Visa program is ending, Portugal’s Startup Visa offers residency to entrepreneurs with innovative business ideas.
France: The French Tech Visa provides a fast-track process for startup founders, investors, and highly skilled employees in the tech industry.
Netherlands: The Dutch Startup Visa allows entrepreneurs to launch and grow their businesses with local mentorship and funding opportunities.

Governments prefer entrepreneurs because they bring long-term economic benefits. Instead of just investing in property, these individuals build companies, hire workers, and contribute to the country’s innovation sector.

Tech & AI-Specialist Visas: The Growing Trend of Visas Catering to AI and Digital Industries

Many countries are now offering Tech and AI-Specialist Visas to attract experts in artificial intelligence, robotics, machine learning, and blockchain. These visas are designed for professionals who can lead digital transformation and advance national technology sectors.

Germany: The Blue Card program prioritizes tech specialists and AI researchers with competitive salaries.
United States: The O-1 Visa is increasingly being used for AI and tech innovators with outstanding achievements.
United Arab Emirates: The UAE Golden Visa now targets tech entrepreneurs, AI specialists, and space technology experts instead of general investors.

Governments recognize that digital industries drive future economies. By attracting top talent in AI and emerging technologies, they secure leadership in global innovation.

b) Property-Based Residency (With Stricter Rules)

While some countries are still offering residency through real estate investments, the rules are becoming much stricter. Golden Visas used to allow passive investments, but new programs demand higher spending, job creation, and longer residency requirements.

Higher Minimum Investments: Countries Increasing Real Estate Thresholds

Many governments are increasing the minimum property investment required for residency.

Spain: The minimum property investment for residency has risen from €500,000 to €1 million.
Greece: The Greek Golden Visa now requires a minimum real estate investment of €500,000, up from €250,000.
Portugal: Portugal has removed real estate investments as an option for residency, now focusing on business and innovation sectors.

These higher investment requirements aim to reduce speculation in property markets and encourage more meaningful economic contributions.

Local Job Creation Requirements: Some Nations Now Demand Investors Create Jobs

Instead of simply buying property, investors must now create jobs or invest in business ventures.

Italy: The Investor Visa for Italy requires investments in local businesses, government bonds, or charities rather than real estate.
Malta: Investors must contribute to the local economy through business investments or government-backed funds.
Ireland: The Immigrant Investor Programme (IIP) now prioritizes applicants who create jobs and support innovation.

Governments are moving away from passive real estate investments because they do not always benefit local economies. Job creation ensures that foreign investors contribute directly to employment growth.

Shorter Residency Periods Before Citizenship: Why Full Citizenship Is Harder to Obtain

Countries are making it more difficult to transition from residency to citizenship.

Spain and Greece have increased the minimum residency period before investors can apply for citizenship.
Portugal now requires applicants to prove stronger ties to the country, such as language skills and active economic participation.

These changes discourage short-term, “passport-for-money” programs and encourage long-term residency commitments.

c) Digital Nomad & Remote Work Visas

With the decline of Golden Visas, Digital Nomad and Remote Work Visas have gained popularity. These programs attract self-sufficient professionals who live and work remotely while spending in the local economy.

The Boom in Digital Nomad Visas: How Remote Workers Are Benefiting

Countries now see remote workers as valuable contributors to their economies. Unlike Golden Visa holders, digital nomads actively spend money on rent, food, and services without taking local jobs.

Spain: The Spanish Digital Nomad Visa allows remote workers to live in Spain for up to five years with tax benefits.
Thailand: The Long-Term Resident (LTR) Visa is designed for wealthy digital nomads and skilled remote professionals.
Brazil: Offers a one-year Digital Nomad Visa, extendable to two years, for remote workers earning a stable income.

Tax Incentives for Skilled Expats: Governments Attracting Professionals with Lower Taxes

Many countries are offering tax breaks to encourage remote professionals to settle long-term.

Italy: Reduces taxes for foreign professionals working remotely.
Portugal: The Non-Habitual Resident (NHR) scheme provides low tax rates for foreign workers.
United Arab Emirates: The UAE Digital Nomad Visa offers zero income tax for remote workers.

Governments recognize the value of digital nomads because they spend money locally without taking jobs from residents. These visas are more sustainable than Golden Visas because they bring economic benefits without inflating housing markets.

Golden Visas are disappearing in 2025, but new alternatives offer better economic benefits for countries. Talent-based visas, stricter investment residency rules, and digital nomad programs are the future of global mobility. If you’re looking for a visa in 2025, focusing on skills, entrepreneurship, or remote work will be the best pathway forward.

Countries That Have Already Phased Out Golden Visas

Many countries have started ending their Golden Visas due to pressure from the European Union (EU), rising fraud risks, and public concerns. Governments now focus on skilled professionals instead of wealthy investors. Some countries have replaced their Golden Visa programs with new residency options, while others have shut them down completely.

Below is a detailed look at the countries that have already phased out Golden Visas and what they offer instead.

Portugal & Spain: How These Top Destinations Shut Down Their Programs

Portugal

This was one of the most popular countries for Golden Visas, offering residency to investors who bought real estate or made financial contributions. However, in 2023, the government announced major changes due to housing shortages and rising property prices.

By 2024, Portugal had officially ended its real estate-based Golden Visa program. Now, foreign investors can still apply for residency, but they must invest in specific areas like job creation, research, or cultural projects. The goal is to attract productive investment rather than passive real estate purchases.

New residency alternatives in Portugal include:

D7 Visa (Passive Income Visa): For retirees and remote workers.
D8 Visa (Digital Nomad Visa): For remote employees and freelancers.
Startup Visa: For entrepreneurs planning to launch a business in Portugal.

These programs focus on individuals who contribute actively to the economy rather than those who only buy property.

Spain

Spain followed Portugal’s lead and officially ended its Golden Visa program in 2024. The main reason was the rising cost of housing, especially in major cities like Madrid and Barcelona. The government believed that foreign investors were making homes unaffordable for locals.

Like Portugal, Spain now prioritizes skilled workers over passive investors. Alternative visas include:

Non-Lucrative Visa: For retirees and people with passive income.
Digital Nomad Visa: For remote workers with international clients.
Highly Skilled Worker Visa: For professionals with job offers in Spain.

These changes show Spain’s shift from property-based residency to talent-based immigration.

Ireland & Greece: Their New Alternatives Focused on Skilled Migration

Ireland

The republic of Ireland ended its Golden Visa program in 2023 due to concerns about transparency and economic impact. The Irish government decided to focus on attracting highly skilled workers instead of investors.

Ireland now promotes:

Critical Skills Employment Permit: For professionals in high-demand industries.
Startup Entrepreneur Programme (STEP): For business owners with innovative ideas.
Stamp 0 Visa: For retirees with independent financial means.

These programs aim to strengthen Ireland’s economy by encouraging active participation rather than passive investment.

Greece

Greece has not fully ended its Golden Visa program but has made it more restrictive. In 2024, the minimum real estate investment increased significantly, making it harder for investors to qualify.

Additionally, Greece is introducing new residency options:

Digital Nomad Visa: Allows remote workers to live in Greece tax-free for one year.
Freelancer Visa: For self-employed professionals working with international clients.
Startup Visa: For entrepreneurs launching tech or business ventures in Greece.

While the Golden Visa program is still available, Greece is shifting its focus toward professionals and entrepreneurs.

Other Countries Expected to Follow in 2025

Several countries are expected to phase out their Golden Visas soon. The European Union has been pushing for tighter immigration controls, and more governments are considering changes.

Some likely candidates include:

Malta: The EU has pressured Malta to stop its citizenship-by-investment program.
Cyprus: The government has already reduced its investor visa options and may end them completely.
Italy: Italy has been reviewing its Golden Visa policies and may introduce stricter requirements.

Many countries are replacing investor visas with alternatives that encourage skilled migration. Governments now prefer workers, business owners, and remote professionals over passive real estate investors.

The era of Golden Visas is coming to an end. Portugal, Spain, Ireland, and Greece have already made major changes, and more countries are expected to follow. The focus is shifting toward attracting skilled professionals, entrepreneurs, and remote workers.

If you are looking for a residency option, consider new visa programs that align with these trends. What do you think about these changes? Let us know in the comments!

The Future of Residency-by-Investment Programs

Golden Visas have been a popular way for investors to gain residency in different countries. These programs allowed people to obtain residency by making a financial investment, often in real estate or government bonds. However, many countries are now phasing them out due to concerns about security, fraud, and housing market disruptions.

As Golden Visas disappear, investors need to explore new options. Some countries are replacing them with programs that focus on skills, business contributions, and long-term economic benefits. This section looks at whether Golden Visas will return, what alternatives are available, and how investors can plan for the future.

Will Golden Visas Ever Return? Predictions for the Next Decade

Golden Visas are becoming less common, but some experts believe they may not disappear completely. Instead, they could return with stricter regulations and new requirements.

Possible Changes to Golden Visas in the Future

Higher Investment Thresholds: Countries may increase the minimum amount required for residency. This could reduce the number of applicants and ensure only serious investors qualify.
Stronger Due Diligence: Governments may introduce stricter background checks to prevent fraud and money laundering.
Job Creation Requirements: Some countries might require investors to create jobs or contribute to the local economy instead of just buying property.
Limited Citizenship Pathways: Future programs may focus on temporary residency rather than full citizenship.

Which Countries Might Bring Golden Visas Back?

Portugal & Spain: These countries have ended their traditional Golden Visa programs but may introduce new versions that focus on economic contributions.
Greece: While the Greek Golden Visa is still available, new rules could make it harder to obtain.
Caribbean Nations: Some Caribbean countries, like St. Kitts and Nevis, may adjust their residency-by-investment programs rather than eliminating them.
Middle Eastern Countries: The UAE and Saudi Arabia are launching investor residency options, though they differ from traditional Golden Visas.

Golden Visas may not return in their old form, but similar programs could emerge with new rules. Investors should be ready for these changes and explore alternative pathways.

What Investors Should Do Now: Alternative Strategies for Global Mobility

With the decline of Golden Visas, investors must consider other ways to secure residency or citizenship. Several countries now offer alternatives that focus on skills, entrepreneurship, and economic impact.

1. Global Talent & Skilled Worker Visas

Many countries are shifting toward merit-based immigration. Instead of relying on investment alone, they prefer individuals who bring skills and expertise.

UK Global Talent Visa: Designed for highly skilled professionals in tech, science, and arts.
Canada Express Entry: A points-based system that prioritizes skilled workers.
Australia Global Talent Visa: Targets specialists in industries like fintech and engineering.

2. Startup & Entrepreneur Visas

Governments are now encouraging investors to start businesses instead of just buying property.

France Tech Visa: Allows entrepreneurs to set up startups in France.
Portugal Startup Visa: An alternative to the old Golden Visa, focusing on innovation.
Dubai Golden Visa for Entrepreneurs: Requires business success rather than real estate investment.

3. Digital Nomad & Remote Work Visas

With remote work becoming popular, many countries offer long-term visas for digital nomads.

Spain Digital Nomad Visa: Allows remote workers to stay for up to five years.
Estonia E-Residency: Provides a way to establish a business in the EU without living there.
Thailand Long-Term Resident Visa: Offers extended stay options for remote workers and retirees.

4. Residency-by-Donation Programs

Some countries allow investors to gain residency by donating to national development projects.

Malta Permanent Residency Program: Requires a contribution to government funds.
Turkey Citizenship by Investment: Offers residency through donations and investments.

5. Real Estate Investment (With Stricter Rules)

Although many Golden Visa programs are ending, some countries still allow residency through property investment.

Greece Golden Visa: Still available, but the minimum investment amount has increased.
Dubai Property Visa: Grants residency to real estate investors.
Caribbean Citizenship Programs: St. Lucia, Dominica, and Antigua & Barbuda still offer options.

Investors must carefully assess these alternatives and choose the best option for their needs.

Key Takeaways: Best Residency Options in 2025

Golden Visas are ending, but new programs are emerging.
Future residency programs may require more than just financial investment.
Skilled worker and entrepreneur visas are replacing traditional Golden Visas.
Real estate investment is still an option but comes with stricter conditions.
Countries are prioritizing economic impact, innovation, and job creation.

As the global landscape changes, investors must stay informed. Instead of relying on Golden Visas, they should explore new residency programs that align with modern immigration policies. The future of residency-by-investment will focus on long-term contributions rather than quick financial transactions.

Would you consider moving to a country under one of these new programs? Let us know in the comments!

Conclusion

Golden Visas may be fading out, but the global landscape for residency and citizenship opportunities is evolving with new, innovative programs. As governments shift toward talent-based visas, property investment with stricter requirements, and digital nomad visas, there are still plenty of paths for those looking to live and work abroad. Whether you’re an entrepreneur, skilled professional, or remote worker, there are emerging options to explore.

If you’re considering investing in real estate or applying for a visa to live in a new country, understanding the current immigration trends and country-specific requirements is crucial. Countries like Portugal and Spain have already phased out their Golden Visa programs, while others are offering new pathways for skilled professionals and innovators.

For more detailed information on residency-by-investment programs and how they’ve evolved in 2025, check out these useful resources:

As we look ahead, these new visa pathways may be even more rewarding for those who can offer more than just investment. Are these changes a better way forward? Share your thoughts with us in the comments!