Golden Visas Are Shrinking for Crypto Investors: What’s Really Going On?

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Oh, the “Golden Visa” — sounds like a shiny golden ticket to a dream world, doesn’t it? 🌟 Well, not so much anymore! Governments everywhere are scratching their heads and rethinking these fancy programs that let the rich and crypto execs waltz right in and snag themselves a cozy residency or citizenship. 🙄

Let’s break it down: Golden visa programs are like a VIP pass. You just plop down a hefty sum — usually hundreds of thousands of dollars — into a local investment fund or fancy real estate, and voilà, you get yourself a golden ticket to citizenship. 🚪🎟️ You get perks like enhanced mobility (AKA more passport stamps), and the country gets a little cash infusion to fuel their local economy. But, *plot twist*, not everyone is loving this deal anymore. 🧐

For instance, in May, Malta’s golden passport program got smacked down by an EU court. Oops! 😬 The EU Commission decided that Malta’s “Exceptional Investor Naturalisation” (fancy name, huh?) was basically selling European citizenship. Who knew that “citizenship” could be bought? Oh, wait. It *was* being bought! Cyprus and Bulgaria also threw in the towel on their golden visa programs in 2021 and 2022, respectively. So long, golden tickets! 👋

For crypto investors, who dream of having their cake (money) and eating it too (multiple passports), these golden visas have been *super* attractive. But, guess what? It’s getting harder to get that second (or third!) passport. 😅

Golden Visa Programs Are Getting Stickier Than a Cheap Lollipop

These golden visa programs were once the talk of the town, with many saying they were *the* way for countries to boost their economic development. 🇺🇳 But Alessandro Palombo, the head honcho at Bitizenship, a firm working with Portugal’s golden visa program, thinks it’s a win-win: “Countries get investment and growth, while investors secure residency rights, enhanced mobility, and sometimes, a passport!” (Nice, right? 😎)

Remember when President Donald Trump proposed the “Trump Gold Card”? He said it would attract wealthy folks to the US who would spend tons of money, pay lots of taxes, and employ a bunch of people. But, surprise surprise, not everyone is buying this story. 😏

Some critics, like those in Bulgaria, believe these programs just open the door to corruption and money laundering. It’s like opening a vault and leaving the door wide open for thieves. 💸 The main beneficiaries? People from China, Russia, and the Middle East. Hmm. Sounds suspicious. 😬

In Spain, for example, the golden visa was contributing to housing prices soaring. Imagine paying a fortune for a tiny apartment while newcomers in golden visa programs snap up all the good real estate. 😱

And even Portugal, once Europe’s crypto haven, is tightening the screws. Palombo even mentioned, “Portugal is moving toward more restrictive policies, including tightening residency and citizenship eligibility.” So much for a crypto-friendly haven, right? 🙄

Why Do Crypto Investors Love Golden Visas? (Besides the Obvious!)

Golden visa programs are like an all-you-can-eat buffet for rich crypto investors. Why? Because they offer the perks of living in a country (hello, residency!) without the annoying requirement to actually live there. In some cases, you only need to spend a whopping 5 days per year to keep your shiny new citizenship. Talk about a dream job! 😏

Some golden visa programs even let you invest in Bitcoin! Yes, you heard it right! Portugal’s Bitcoin Eco Golden Visa lets you invest in Bitcoin and companies while you grab a golden visa. How’s that for a crypto party? 🎉

Then there’s El Salvador — the first country to recognize Bitcoin as legal tender — offering citizenship to anyone who invests $1 million in Bitcoin or Tether. Oh, and Italy is jumping on the bandwagon, too, offering golden visas for crypto startup investments. Everyone loves a little crypto, right? 💰💥

But hold your horses, because things are about to get messy. Earlier this month, the TON Foundation, which was founded by the good folks at Telegram, *accidentally* leaked a “Golden Visa” announcement for the UAE. And guess what? That didn’t go well. The UAE promptly denied the whole thing, and TON had to walk it back. Talk about a PR disaster! 😬

It’s clear that the future of golden visa programs is getting stickier by the minute. In fact, since 2020, a whopping nine countries — including the UK, Ireland, and Spain — have scrapped their golden visa programs. No more golden gates, people! 🚪🚫

Palombo summed it up perfectly: “What’s possible today may become legally impossible within months or weeks. This pattern is accelerating. Golden visas, once abundant, are fast becoming scarce.” Bye-bye, golden tickets! 👋

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2025-07-24 10:54