Golden visas are shrinking for crypto investors
Wealthy crypto investors are attracted to golden visa programs thanks to their residency and tax benefits, but their list of options is getting shorter.
Governments globally are rethinking so-called “golden visa” programs that allow wealthy investors, including crypto executives, to secure residency or citizenship.
Golden visa programs let applicants secure citizenship after investing a sum, often in the hundreds of thousands of dollars, in a local investment fund or real estate. While this can stimulate local economic development and attract talent from around the globe, some jurisdictions are rethinking the strategy.
In May, Malta’s golden passport program was ruled illegal by an EU court. The EU Commission said that Malta’s Exceptional Investor Naturalisation (MEIN) program was commercializing European citizenship. Cyprus and Bulgaria ended their golden visa programs in 2021 and 2022, respectively.