Like everything in the world, investment migration is in a state of constant evolution. Every residency or citizenship by investment program will eventually face policy changes, while new programs may open, and old ones may shut down or get modified.
However, due to the polycentric nature of investment migration, within which a discrete government entity runs its own program, predicting changes is an often-challenging endeavour.
As time passes by, certain trends appear that may hint at upcoming regulatory modifications, while some government announcements lend information regarding future investment migration updates.
In this piece, we will cover the most probable investment migration changes one can expect in 2023, although it is possible that while they may come to fruition, they may also come to naught.
Portugal Golden Visa Program May Close
Earlier this week, Portugal’s Prime Minister Antonio Costa revealed his government is considering closing the country’s popular Golden Visa.
When governments announce a new change coming, and they usually announce it ahead of time, giving a grace period before they are implemented, a rush of applications is expected.
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The best way to circumvent any delay caused by large of applicants is for interested investors to act quickly.
June alone recorded the highest figures with over 78 million Euros worth of investments in the Portugal Golden Visa program, a first since 2020.
Price Hike For Greece’s Golden Visa
This policy update seems highly probable, as the Greek government has already announced it plans to double the minimum real estate investment under the Greek golden visa, raising it from €250,000 to €500,000.
The Greek Prime Minister, Kyriakos Mitsotakis, addressed this issue in a statement to the public. Sources close to the Prime Minister’s Office claim the official change to the law will be introduced in January 2023.
Discover the 5 reasons why you should invest in European residency
However, whether there will be a grace period before the changes are enacted is still unknown, but the issuing of such a period is common practice, and it is highly probable.
It is important to note that while the government announced the price hike, nothing is set in stone until an official statement confirming the change and the introduction of the new policy. However, for those interested in the Greek golden visa, it is best to act quickly as the Greek government has been considering the price increase for some while, and it seems that 2023 is the year they will go through with it.
Greece’s Golden Visa is currently one of the most affordable in Europe.
St. Lucia To Close Popular Investment Option
St. Lucia’s Citizenship by Investment Unit has announced that they will be closing their most attractive covid-19 bonds investment for CBI investors by the 31st of December 2022 and there will be no further extension to this investment option.
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Another possible policy update 2023 may see is the changing of prices under the Caribbean CIPs.
To know more about any possible changes, or to inquire about a specific investment migration program, contact us today.
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