Abolition of the Golden Visa in the Netherlands from 2024

Following the abolition of the Golden Visa in the Netherlands, wealthy investors from other countries will no longer be able to benefit from it from next year. The decision is confirmed by a statement from the Dutch Immigration and Naturalization Service (NLS). It reads: "The residence permit for inter-investors will no longer be available from January 1, 2024". The Dutch Golden Visa program allowed wealthy foreign investors to obtain a residence permit if they have contributed at least €1,250,000 to the country's economy and meet certain requirements. Some of these requirements are:

• A valid passport or other travel document
• No threat to national security and public order
• Willingness to undergo a tuberculosis test upon arrival in the Netherlands.

In addition to the general requirements, wealthy investors from other countries must also meet a number of other requirements:

• Invest at least €1,250,000 in an international company headquartered in the Netherlands or in a fund that complies with the SEED program, a venture capital company or a contractual joint venture that invests in a company in the Netherlands.
• Deposit the investment amount in an account with a Dutch bank or a bank of an EU member state with a branch in the Netherlands.

In the Netherlands, the authorities use a points system. An additional value is available if an investment fulfills two of the three criteria:

• At least ten jobs are created within five years
• A contribution is made to increasing the innovative strength of a Dutch company.
• There is non-financial added value, e.g. specific knowledge, a customer network and active participation by the investor.

According to the NLS, the invested capital was not obtained illegally. The IND can also request information from the Dutch Financial Intelligence Unit (FIU-Netherlands) in this regard. The Dutch authorities introduced the Golden Visa program in 2013 to support the continuous growth of the Dutch economy. In 2018, the country made changes due to the low popularity of the program. The Netherlands is not the only country to offer such a program. Several European countries also have residency and citizenship programs, including Spain, Portugal and Greece, which are the most attractive.