Latest / IMI Podcasts / This Week in IMI - July 25: Spain Proposes Scrapping Golden Visa Altogether, Portugal Reopens Golden Visa to Russians, Hungary Golden Visa in Flux, ++
Transcript
- 0:00SPEAKER_00: You're listening to IMI this week.
- 0:04SPEAKER_00: The Spanish government has proposed an amendment to eliminate the country's golden visa program, citing concerns about its impact on the housing market and its failure to attract diverse investments.
- 0:16SPEAKER_00: The amendment, which aims to repeal articles related to all forms of residency by investment, is currently in the article amendment phase until September 4th, with the legislative process expected to begin after September 9th.
- 0:31SPEAKER_00: If the amendment is approved, existing visas would remain valid and renewable.
- 0:36SPEAKER_00: However, Golden Visa specialist Krista Victorio advises investors to secure their Spain golden visa as soon as possible while the current law remains in effect.
- 0:48SPEAKER_00: The Hungarian Guest Investor Program, which officially launched on July 1st, offers 20-year residence permits to third country nationals who invest in Hungary.
- 1:00SPEAKER_00: But no applications have been filed due to implementation issues.
- 1:05SPEAKER_00: While the program provides investment options ranging from€250,000 in real estate funds to a€1 million donation to an educational institution, no real estate fund managers have been approved, and the€500,000 residential property option is not yet available.
- 1:24SPEAKER_00: Therefore, Shaba Magyar advises investors to wait before applying.
- 1:31SPEAKER_00: Canada offers several business immigration pathways beyond the quota-limited startup visa program, including the C11 Entrepreneur Work Permit, C-12 Intracompany Transferees Work Permit, and provincial nominee programs.
- 1:46SPEAKER_00: IMI Pro Melissa Godmer argues that these alternatives provide flexible options for business owners to establish or expand their presence in Canada.
- 1:56SPEAKER_00: However, because Canada does not offer passive investor routes, Godmer cautions that each option requires active involvement in the business.
- 2:31SPEAKER_00: The lifting of the suspension has not been officially announced, but Russian and Belarusian applications that were previously on hold are now being processed, indicating a discrete policy reversal by Portuguese immigration authorities.
- 2:48SPEAKER_00: In this week's edition of 10 on the weekend, IMI pro Elena Ruda shares her business focus this year and why she has few concerns about the global trends.
- 2:58SPEAKER_00: Elena Ruda states, Over the years we've seen many changes, programs closing, new ones opening, and we understand that changes will continue.
- 3:09SPEAKER_00: Read the full interview on IMIDAily.com.
- 3:14SPEAKER_00: Thanks for joining us today on IMI Podcasts.
- 3:17SPEAKER_00: Subscribe for free to the IMI Daily Newsletter for breaking news and updates from the investment migration industry.
- 3:24SPEAKER_00: And consider upgrading your membership to IMI Pro to get insider access to networking opportunities, industry events, data, and members only content.