{"id":433609,"date":"2025-09-18T12:31:23","date_gmt":"2025-09-18T12:31:23","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/433609\/"},"modified":"2025-09-18T12:31:23","modified_gmt":"2025-09-18T12:31:23","slug":"luxembourg-prepares-to-axe-golden-visa-program-that-approved-only-9-applicants","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/433609\/","title":{"rendered":"Luxembourg Prepares to Axe Golden Visa Program That Approved Only 9 Applicants"},"content":{"rendered":"

Home Affairs Minister L\u00e9on Gloden tabled legislation to repeal Luxembourg\u2019s golden visa, citing low value and high administrative burdens.<\/p>\n

Luxembourg has submitted draft legislation to eliminate its residency by investment program<\/a>, marking the end of a seven-year experiment that attracted a mere nine successful applicants since 2017. <\/p>\n

Home Affairs Minister L\u00e9on Gloden tabled the projet de loi before parliament\u2019s summer recess, proposing to repeal the program that granted residence permits to non-European Union nationals who invested \u20ac500,000 in Luxembourg businesses.<\/p>\n

The program\u2019s underwhelming performance prompted the government to cite \u201cvery low added value\u201d and \u201cdisproportionate administrative burdens\u201d as justification for termination. <\/p>\n

Only 15 people applied for the golden visa<\/a> over seven years, as authorities rejected four of the six applications that applicants submitted in 2023 and 2024.<\/p>\n

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Applicants came from Russia, Israel, India, and China, though Luxembourg declined to specify which nationalities authorities rejected or the reasoning behind those decisions.<\/p>\n

The ministry\u2019s assessment represents a complete reversal from its April 2023 position, when officials maintained that ending the investor residency program \u201cwas not a priority.\u201d European Union pressure intensified following Russia\u2019s invasion of Ukraine in 2022, as the European Commission claimed that such programs created \u201cinherent security, money laundering, tax evasion, and corruption risks.\u201d<\/p>\n

\"\"Home Affairs Minister L\u00e9on Gloden<\/p>\n

The Commission expressed particular concern about potential exploitation by sanctioned Russians or Belarusians seeking to circumvent travel restrictions.<\/p>\n

Luxembourg joins a growing list of EU nations abandoning golden visa programs. Ireland scrapped its Immigrant Investor Program in 2023, although it continues to process its backlog<\/a>, and Spain closed its golden visa<\/a> program at the start of this year.<\/p>\n

The Netherlands similarly ended its investor visa program<\/a> in 2023 after processing just ten successful applications over a decade. Malta shut down its citizenship by investment program following the ECJ\u2019s ruling<\/a> and is planning to shift to a citizenship by merit model<\/a>.<\/p>\n

Legislative Process<\/strong><\/p>\n

The draft legislation now enters Luxembourg\u2019s complex parliamentary process. Parliament will assign the bill to a committee, likely the Committee on Institutions and Constitutional Revision or Home Affairs, where deputies will conduct a detailed examination and eventually appoint a rapporteur to present the committee\u2019s conclusions.<\/p>\n

Following committee review, the Chamber of Deputies will hold its first debate and vote before the Council of State (Conseil d\u2019\u00c9tat) reviews the text for constitutional or EU law conflicts.<\/p>\n

Should the Council of State recommend changes, the Chamber must hold a second vote, which typically occurs three months later. The process could extend for several more months before the Grand Duke provides formal assent and the law takes effect.<\/p>\n

\"\"Henri, Grand Duke of Luxembourg<\/p>\n

Luxembourg\u2019s government noted that the program has \u201cnot had the desired positive effect\u201d but confirmed that non-EU nationals can still pursue traditional \u201cself-employed\u201d residence permits for business investments.<\/p>\n

Under the existing program, investors could choose from four pathways: <\/p>\n