Luxembourg Considers Ending Its Golden Visa Program

Luxembourg Considers Ending Its Golden Visa Program

Key Points

  1. Luxembourg is considering ending its Golden Visa Program.
  2. The government is currently assessing the effectiveness of the investor residence permit scheme.
  3. Luxembourg’s Golden Visa Program offers residency to wealthy non-EU nationals through two primary pathways.
  4. The program’s termination comes amid growing interest in such schemes.

Luxembourg's government is reviewing the utility of its investor residence permit program, as confirmed by a spokesperson for the Ministry of Home Affairs to Luxembourg Times, according to Schengen.News.

The Golden Visa Program in Luxembourg grants non-EU nationals residency and visa-free access to EU countries. Applicants can choose from two investment options:

  • Investing €500,000 under the Residence by Investment route.
  • Demonstrating an annual income of €27,000 under the Residence for Private Reasons route.

Limited Applications and High Rejection Rate

Between 2023 and 2024, six applications were submitted, with four rejected. Applicants came from countries like Russia, Israel, India, and China, though the reasons for rejection and specific countries were not disclosed.

Temporary Residency Valid for Five Years

Successful applicants are granted a temporary five-year residency permit, which becomes valid upon their arrival in Luxembourg. Investment-based permits provide three years of residency, while permits for private reasons allow one year.

Decline in Applications

The program has seen low participation since its launch. A European Commission report revealed that only six individuals – one Australian and five Chinese nationals – applied in the first year. By 2023, just three additional applicants had used the program.

Broader EU Push to End Golden Visa Programs

Despite the financial contributions these schemes generate, the EU has urged member states to end Golden Visa and citizenship-by-investment programs due to concerns over irregularities.

In April 2025, Spain will terminate its Golden Visa Program, citing its negative impact on the housing market. Similarly, Portugal has already ended its real estate investment option, which required purchasing properties worth €500,000 or more.

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