Netherlands Set To End Its Golden Visa Program In 2024; Here’s All You Need To Know

by Shreya Ghosh
Netherlands Set To End Its Golden Visa Program In 2024; Here’s All You Need To Know

The Netherlands has a Golden Visa Program that specifically aims to attract rich investors from foreign nations. This visa scheme is about letting these investors make an investment in the Netherlands, get a permanent residency permit, and even citizenship eventually. It looks like all these facilities of the Golden Visa are about to come to an end. Here’s all you need to know about the scheme and its last date of functioning.

Some Important Things To Know About The Golden Visa Scheme:

Golden Visa
Picture credit- Canva

Back in the year 2013, the Dutch authorities launched this program. The primary reason and goal behind the induction was to boost the economy of the Netherlands, according to a report by Schengen Visa Info. Following the launch, the authorities did not see enough expected results. Therefore, they made some changes to the Golden Visa program in 2018 to bolster its growth.

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There are a set of rules that need to be followed to make an investment in the Netherlands with this visa program and also get residency.

  • Firstly, the investors need to provide a minimum of €1,250,000 to the nation’s economy.
  • Secondly, they need to have a valid passport or other valid travel documents.
  • Thirdly, investors with any risk to ‘public order or national security’ are not allowed.
  • They might need to do a tuberculosis test after visiting the Netherlands. So they need to agree to that.
  • They need to make an investment of at least €1,250,000 in an international company that is based in the Dutch country.
  • Either this investment, or they need to invest at least €1,250,000 in a fund that is in agreement with the SEED scheme.

The Scheme Will Come To An End In The Next Year

Golden Visa
Picture credit- Canva

Now, the country has made some significant decisions about it. After a decade, the time has come to abolish the visa program. The Immigration and Naturalisation Service in the Netherlands announced the next step in a statement. It mentioned how this “residence permit for inter investors will no longer be available from January 1, 2024”, as per the Schengen Visa Info report.

This means that the country will be completely stopping the Golden Visa scheme from the first day of the next year, 2024.

Also read: The Netherlands Capital, Amsterdam Will Be Banning Cruise Ships To Curb Pollution, Overtourism

What are your comments and views about this decision? Do let us know!

Cover Image Courtesy: Canva