IMM Group Investment Migration News December 2024: Highlights from the U.S., Australia, Canada, Europe, and the Caribbean
December 31, 2024 · Residency by investment · 9 min read
In Investment Migration News December 2024, IMM Group reviews the month’s most notable developments in residency and citizenship by investment programs. This issue covers:
In Investment Migration News December 2024, IMM Group reviews the month’s most notable developments in residency and citizenship by investment programs. This issue covers:
1. EB-5 under Trump’s second term: new expectations or growing challenges?
Donald Trump’s re-election as U.S. president has raised important questions about the future of the EB-5 Immigrant Investor Program.
During his campaign for a second term, Trump repeatedly stressed a hard-line stance on immigration, while also voicing support for reforms that would create a more favorable investment climate. This works in the EB-5 program’s favor, as it requires investors to commit capital to projects capable of creating jobs and contributing meaningfully to U.S. economic growth.
Given its track record and the substantial economic value it generates, the program fits squarely with U.S. government economic policy. As a result, it has long enjoyed bipartisan support and is likely to retain the backing of the new administration. The EB-5 Regional Center Program has also been reauthorized through 2027, alongside stronger oversight to improve transparency and ongoing refinements to the adjudication process aimed at shortening processing times.
While the overall outlook is broadly positive, investors should be prepared for closer scrutiny and more detailed documentation requirements going forward.
2. Australia announces the National Innovation Visa (NIV)
On December 6, 2024, the Australian government announced the National Innovation Visa (NIV). Contrary to what many investors had hoped, the NIV does not replace the Business Innovation and Investment (Provisional) visa (subclass 188); instead, it replaces the Global Talent visa (subclass 858).
The program targets exceptionally talented individuals worldwide who can contribute to Australia’s economic development and innovation. To receive an invitation to apply, NIV candidates must provide evidence of their achievements, demonstrate that they rank among the best in their field (for example, through international awards or research), and be nominated by an Australian citizen, an Australian permanent resident, or an Australian organization with a strong reputation in the same field.
The program is open only to a very small group of elite individuals and has a limited visa allocation of just 4,000 places for the 2024–25 fiscal year. Given its stringent requirements, the NIV is not a realistic substitute for the subclass 188 visa for most investors. In the current environment, alternatives such as EB-5 in the U.S., and the Start-up Visa and the Prince Edward Island (PEI) provincial entrepreneur stream in Canada, remain attractive options for investors, offering a pathway to residency along with education, healthcare, and a quality of life comparable to Australia’s.
3. Five Canadian cities ranked among the world’s best for quality of life in 2024
According to Mercer’s 2024 Quality of Living survey, 5 Canadian cities rank among the top 25 cities in the world for quality of life. The results highlight the stability, safety, and strong opportunities that Canadian cities offer, reinforcing Canada’s reputation as one of the world’s most livable countries.
Vancouver leads North America and ranks 7th globally, thanks to its mild climate, modern infrastructure, and excellent living environment. Toronto, Canada’s financial capital, ranks 13th for its cultural diversity and wide range of career opportunities. Ottawa and Montreal tie for 20th, noted for their safe living environment and close-knit community life. Calgary ranks 25th, recognized for its fast-growing economy and stable working environment.
With its high quality of life, strong social welfare system, and programs such as the Start-up Visa (SUV) and the Prince Edward Island (PEI) business stream, Canada remains a compelling choice for building a stable, long-term future, particularly for entrepreneurs, senior managers, and business owners.
4. Hungary removes the real estate investment option from the Guest Investor Program (GIP)
On December 20, 2024, the Hungarian government unexpectedly announced that it would remove the real estate investment option, which required a minimum investment of €500,000 (approximately US$560,000), from the Guest Investor Program (GIP), with the change expected to take effect on January 1, 2025. The program now retains only 2 routes for foreign investors to obtain a residence permit in Hungary: a €250,000 investment in an approved real estate fund, or a €1 million donation to educational institutions.
Although the government has not given a reason for removing the real estate option, industry experts believe the decision aims to ease pressure on the housing market and curb speculation, as property prices could be inflated to meet the program’s investment threshold. The Hungarian government also wants to channel capital into properly regulated funds, ensuring economic efficiency and reducing negative social impact.
Despite the change in investment options, the program’s benefits remain the same, including a 10-year guest investor residence permit, visa-free travel within the Schengen Area, and the possibility of applying for citizenship after 8 years. Investors may also consider comparable European residency by investment programs that offer a real estate option, in Greece, Cyprus, Malta, or Portugal.
For full details, read the linked articles or contact IMM Group to discuss residency and citizenship by investment programs worldwide.
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