Nigerian Billionaires, Investors Affected as Netherlands Ends Important Visa Scheme

• The Netherlands has disclosed plans to end its 10-year-old Golden Visa Scheme
• The country stated that prospective investors won’t be eligible for the scheme effective January 1, 2024
• The Netherlands’s Golden Visa Programme will cease to operate from January 2024.

Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.

The country’s Immigration and Natural Service (IND) disclosed this in a statement.

The closure of the scheme will mean that foreign investors, including Nigerians, won’t be eligible for residence permits, requiring them to explore alternative procedures for Dutch residency.

Existing permits remain valid until expiration

The development means that foreign investors seeing residence permits based on investments will be redirected to different application processes.

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The country said prospective investors can still apply for residence permits under the Golden Visa Programme until December 31, 2023.

It stated that existing permits remain valid until expiration and renewable is possible even after January 1, 2023.

The country’s Golden Visa scheme is facilitated with a minimum of 1,250 euros in investment.

The scheme also has specific requirements, including having a valid passport and the willingness to undergo a tuberculosis test upon entry.

European Country ends Golden Visa Programmes

The country introduced the immigration route in 2013 to promote economic growth.

After facing a backlash for a rigorous procedure, the scheme was amended in 2018 to attract more foreign investors.

According to reports, the decision by some European countries to end their golden visa schemes has led to an increase in applications, reaching record highs in Spain and Italy.

UK moves to stop Nigerians and other care workers from bringing dependents, starts new student visa

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Legit.ng reported that The United Kingdom is considering reducing the number of dependents foreign care workers can bring for relocation.

The Telegraph of the UK said the Environmental Secretary, Steve Barclay, stated that the Home Secretary, James Cleverly, was considering a ban on numbers as an alternative to reducing figures.

The Immigration Minister, Robert Jenrick, also proposed that foreign workers could be restricted from bringing their family members to the UK or allowed to come with one relative.

Source: Legit.ng