Starting in January 2024, the Netherlands will no longer offer its ‘Golden Visa’ program, which granted residence permits to wealthy foreign investors. This decision was officially announced by the Dutch Immigration and Naturalization Service (NLS), marking the end of a program introduced in 2013 to stimulate economic growth.
The Golden Visa Program
The Dutch Golden Visa initiative was designed to attract foreign investors who could make a significant financial contribution to the country, with a minimum requirement of €1,250,000. The program had strict eligibility criteria, and it was primarily intended for business development, not for real estate investment for personal use.
Eligibility Requirements
To qualify for the Golden Visa program, investors had to meet various requirements, including:
- Possessing a valid passport or travel document.
- Demonstrating no threat to public order or national security.
- Undergoing a tuberculosis test upon entering the Netherlands.
- Investing their funds in an international company based in the Netherlands, a Ministry of Economic Affairs-approved fund, a venture company, or a contractual joint venture that invested in a Dutch company.
Implications of the Decision
The discontinuation of the ‘Golden Visa’ program is significant for foreign investors who were considering utilizing this avenue to obtain Dutch residence permits. It reflects a shift in Dutch immigration policies and aligns with global trends regarding investment-based residence permits.
