Recent developments within the European Union indicate a growing trend toward the reassessment, and in some cases, the termination of investor-based immigration programs. While these changes primarily target citizenship-by-investment programs, several Member States have also introduced significant reforms to their investor residence visa frameworks.
Notably, on April 3, 2025, Spain officially discontinued its Golden Visa program. Ireland and the Netherlands had previously taken similar actions, and in 2023, Portugal removed real estate investments from its qualifying criteria. Greece has announced plans to tighten eligibility requirements, while Luxembourg is currently evaluating the future of its own investor visa scheme.
Separately, the Court of Justice of the European Union (CJEU) recently issued a ruling against Malta’s investor citizenship program. While this decision pertains specifically to citizenship-by-investment (distinct from residence-based programs such as Italy’s Investor Visa) the ruling underscores the European institutions’ increasing scrutiny of investment-related immigration programs.
What about Italy’s Investor Visa program?
Italy’s Investor Visa for individuals from non-EU countries remains active and, at present, has not been subject to any proposed legislative or policy changes. The program continues to offer qualifying investors a two-year residence permit (renewable), based on eligible investments such as funding innovative startups, purchasing Italian government bonds, or contributing to philanthropic initiatives.
While the Italian government has not announced any plans to amend or suspend the program, prospective applicants may wish to consider initiating the process in a timely manner, in light of the broader regulatory shifts occurring across the EU.
For further information about Investor Visa for Italy, please see:
This Article was written by Amal Sfar.
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