Video: IMM Group Investment Migration News February 2024 – Highlights From the U.S., Australia, Canada, Europe, and the Caribbean
March 5, 2024 · Residency by investment · 7 min read
Investment migration news February 2024: the most notable updates on residency and citizenship programs in the U.S., Australia, Canada, Europe, and the Caribbean.
1. Greece Golden Visa set to introduce 3 regional real estate investment tiers, with the highest at €800,000
In a recent statement, Greece’s Minister of National Economy and Finance confirmed that the government plans to raise the minimum real estate investment for the Greece Golden Visa program. According to Greek media, the new thresholds would be set across 3 zones, corresponding to 3 investment levels: €250,000, €400,000–500,000, and €800,000 (approximately US$280,000, US$448,000–560,000, and US$896,000).
The higher thresholds would apply to areas in high demand where property development has overheated, such as central Athens and the islands of Santorini and Mykonos.
The new tiered structure is viewed as reasonable and consistent with the shift of development from core central areas toward other cities, supporting more balanced and sustainable growth. At the same time, areas with lower thresholds still offer future growth potential. For investors who identify sound projects, this could be an attractive opportunity to obtain a Greek residence permit for the investor and eligible family members while owning reasonably priced property in Greece with growth potential.
2. Cyprus tourism revenue reaches a record high in 2023
Tourism has long been regarded as the backbone of Cyprus’s growth. According to the latest data, the island’s tourism revenue for the first 11 months of 2023 reached nearly €3 billion, surpassing the all-time full-year record of €2.68 billion set in 2019.
Tourism growth has made the island nation’s real estate market increasingly active. Although the global economic downturn weighed on European economies and housing transactions fell in most European countries, Cyprus stood out with year-on-year growth of more than 20%, and property prices continued to rise.
This is seen as a positive signal for Cyprus as it continues to attract foreign investment, particularly through its real estate investment route to permanent residence.
3. Should entrepreneurs consider Canada’s skilled worker immigration programs?
Canada’s skilled worker immigration programs are designed to bring skilled and qualified foreign workers to Canada. They mainly target 2 groups: highly qualified, highly skilled professionals, and workers in hard-to-fill occupations, including some low-skilled work. Beyond the often physically demanding nature of these jobs, the programs use strict points-based systems and are highly competitive. For most entrepreneurs, these factors can make the programs a poor fit for their background and business management experience.
4. World-renowned hotel brand InterContinental continues to expand its presence in the Caribbean
In July 2022, InterContinental, one of the world’s largest hotel brands, officially broke ground on InterContinental Grenada Resort in the Caribbean. The project is a 5-star, 150-room resort with luxury amenities, located on one of the Caribbean’s most scenic beaches and just a 30-minute drive from the international airport and the capital.
Following the Six Senses La Sagesse resort, scheduled to open in mid-2024, InterContinental Grenada Resort is InterContinental’s next project in Grenada, an island known for its beaches and popular with international visitors. The 5-star resort is also a government-approved project under Grenada’s Citizenship by Investment program, which offers visa-free or visa-on-arrival access to many destinations, with investment from US$220,000.
If you are interested in residency or citizenship by investment in the U.S., Australia, Canada, Europe, or the Caribbean, contact IMM Group or leave your details below. Our experienced advisors will provide detailed guidance and help assess the prospects for your application. We keep your personal data confidential and use the information you provide only to advise on your family’s case.
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