The end of the golden visa in the Netherlands: the controversial program will end in January

residence'.

The main requirements include having a valid passport or travel document, not posing a threat to public order or national security and passing a tuberculosis test upon arrival in the Netherlands.

Other rules include investing in either an international company registered in the Netherlands, a fund approved by the Ministry of Economic Affairs, or a venture capital company or contractual joint venture investing in a company in the Netherlands, according to Schengenvisa News.

All terms and conditions can be found here.

The announcement by several European countries to end their golden visa programs has actually caused a surge in applications, in many cases including''Spain and Italy, leading to record levels.

"The Netherlands is still accepting applications for golden visas despite plans to end the program," Bloomberg explains. "The same thing is happening in Montenegro. Citizenship-by-investment programs in Europe are alive and well despite calls to end them," and "business is booming at immigration consultancies. "

The surge in demand seems to go hand in hand with growing pressure to abolish such residency programs from various European political quarters and the European Union's stricter stance on the issue.

Golden visa programs offer rich people the opportunity to obtain residency permits by investing in local''real estate and financial assets. While some countries, such as the Netherlands, have strict requirements and exclude real estate investments, others are more lenient, prompting criticism including rising real estate prices and the potential for money laundering and tax evasion.

The real estate problem, especially in the most popular cities across Europe, has added fuel to the fire of the counter-versus, with the European Parliament's civil liberties committee calling the scheme "unacceptable from an ethical, legal and economic point of view".

The European Commission "compels member states to immediately abolish any existing programs to obtain citizenship through investment and to ensure strict controls for''preventing risks associated with residence permit programs for investors'.

The problem has been exacerbated by the conflict between Ukraine and Russia.

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The European Commission in Brussels said the initiative, which allows wealthy foreigners to "buy" residency rights, sometimes without even necessarily living in the country, has become "a security risk allowing money laundering, tax evasion, terrorist financing, corruption and infiltration of organized crime, which is incompatible with EU norms. "

Belgian member of the European Parliament Saskia Bricmont called the visas a way for "oligarchs, criminals and corrupt politicians" to "buy their way into Europe and launder their money, image and identity," as''Euronews reports.

Commissioner for Justice and Consumer Protection Didier Reynders called the scheme "illegal": 'European values are not for sale. We believe that selling citizenship through 'golden passports' is illegal under EU law and poses serious risks to our security. All Member States must immediately end their programs to obtain citizenship through investment. "

As more countries prepare to abolish their golden visas, buyers are rushing to take advantage of the opportunity to enter this program wherever possible.