The Dutch Golden Visa residence permit for foreign investors is to close from 1 January 2024, amid lack of demand and EU pressure on this type of scheme.
According to the Immigration and Naturalisation Service (IND) those who wish to invest in Netherlands must submit applications before this date to receive residence permit for investment.
"The residence permit for inter investors will no longer be available from 1 January 2024", it said.
The Dutch government officially launched the 'Wealthy foreign investor scheme' on 1 October, 2013 to attract investors from outside the EU to invest in the Netherlands.
The scheme for foreign investors enables them to invest and reside in the Netherlands. The investment must present added value to the Dutch economy. It must generate employment, stimulate innovation and/or have other non-financial added value.
According to IND, the required minimum amount of €1,250,000 in:
• a company that is based in the Netherlands, or;
• in a fund that, according to the Ministry of Economic Affairs, fits within the SEED scheme, a venture capital company, or a contractual joint venture that invests in a company in the Netherlands;
• Investing in real estate for private occupation is excluded.
But the complexity of the Dutch GV program and the exclusion of property market has made the Dutch scheme unpopular with foreign investors.
Concerns about money laundering and EU pressure to phase out all investor residence schemes are seen as key factors around the decision to close it down.
