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WHICH EU COUNTRIES SELL GOLDEN VISAS? HOW MUCH DOES A GOLDEN VISA COST? HOW MUCH MONEY HAVE MEMBER STATES MADE? Commentators have estimated that golden visa schemes globally generate US$13 billion (€11.15 billion) a year, of which citizenship- by-investment schemes represent about US$3 billion, and residence- by-investment schemes probably exceed tens of billions of dollars. 3 According to industry experts, golden visa schemes are expected to generate as much as US$20 billion (€17.17 million) annually in a year or two. 4 European schemes represent the higher end of the market. The average cost of an entry ticket into the EU for most popular schemes 5 (around €900,000) is much higher than the investment requirements for other popular schemes, such as Saint Kitts and Nevis (US$150,000- 400,000) 6 or Grenada (US$150,000- 350,000). 7 European schemes require varying amounts of investment. Residency can cost €250,000 in Greece and Latvia, whilst a Cypriot passport can cost €2 million. It can even go as high as €10 million, as is the case in Austria, though the law does not officially state a price for an Austrian passport. 8 The type of investment required includes investment in real estate, government bonds or company shares, and investment through national specialised funds or donations. LATVIA AUSTRIA BULGARIA GREECE HUNGARY FRANCE SPAIN IRELAND GREAT BRITAIN PORTUGAL NETHERLANDS LUXEMBOURG MALTA CYPRUS CITIZENSHIP-BY-INVESTMENT RESIDENCY-BY- INVESTMENT TERMINATED TRANSPARENCY INTERNATIONAL & GLOBAL WITNESS 09
