Luxembourg to End Golden Visa Program Amid Rising Interest

Luxembourg is preparing to terminate its Golden Visa Program, following a notable increase in interest in the scheme. A spokesperson for the Home Affairs Ministry confirmed to Luxembourg Times that the government is currently reviewing the effectiveness of the investor residence permit program.

Luxembourg’s Golden Visa program offers non-EU nationals residency and visa-free access to other EU countries. To qualify, applicants have two options: they can either invest €500,000 through the Residence by Investment option or earn an annual income of €27,000 through the Residence by Private Reasons option.

In 2023 and 2024, there were only six applications for the program, with four being rejected. The applications came from applicants based in Russia, Israel, India, and China. However, the ministry did not disclose which countries the rejected applications came from or provide any reasons for their rejections.

Once granted a Golden Visa, successful non-EU applicants enjoy several benefits. Applicants typically face a six-month waiting period before obtaining their visa. The temporary permission granted is valid for five years and becomes a valid residence permit when the applicant arrives in Luxembourg. Investment-based residence permits offer three years of residency, while the private reasons-based permits are valid for one year.

According to a 2018 European Commission report, the first year of the Golden Visa program saw just one Australian and five Chinese nationals benefit from the program. By 2023, only three additional applicants had gained from this scheme. Despite the low number of applicants, Luxembourg’s government previously told Luxembourg Times that ending the Golden Visa program was not a priority.

The European Union has called for the abolition of residency and citizenship by investment programs, citing allegations of irregularities linked to such schemes. Spain, for instance, announced that it would end its Golden Visa program on April 3, 2025, due to its negative impact on the housing market. Similarly, Portugal terminated its real estate investment option in the Golden Visa program, which allowed residency in exchange for purchasing property worth €500,000 or more.

By fLEXI tEAM