In 2024, waves of changes in immigration policies across various countries (regions) worldwide emerged one after another, with a series of major adjustments and innovative measures introduced, attracting widespread attention. Reviewing the immigration highlights of the year, WorldWay Group, after careful research and analysis, and having consulted with immigration professionals and investors from relevant countries, has selected the "Top 10 Immigration Events of 2024" to share with investors and the industry, adhering to the principles of being "objective, fair, authoritative, and professional." This marks the 11th consecutive year since 2014 that WorldWay Group has compiled the annual major events in the immigration industry.
01
The 3rd year of the new U.S. investment immigration policy, EB-5 reserved visas begin issuance
In 2024, the new U.S. investment immigration act entered its third year, with the number of new investors surging by 40% compared to 2023, contributing over $3 billion to the U.S. economy. On April 1, the U.S. Citizenship and Immigration Services (USCIS) increased EB-5 immigration application fees, the first such increase since 2016, leading to a sharp rise in I-526E filings before the price hike. In August, USCIS began issuing reserved EB-5 visas for the first time. Furthermore, according to data disclosed on the official USCIS website in 2024, compared to the average processing time of 90 months for EB-5 applicants born in mainland China under the old act, the average processing time for I-526E petitions under the new act for rural TEA projects is only about 10 months. Additionally, within the EB-5 visa reserved categories, 20% are reserved for rural TEA projects, 10% for high-unemployment urban TEA projects, and 2% for infrastructure projects, all of which are currently in a non-backlog status. These factors have prompted investors under the new act to focus on non-backlog projects. In 2024, with the orderly issuance of reserved EB-5 visas under the new U.S. investment immigration policy, non-backlog EB-5 projects have become a highly sought-after choice in the market.
02
Greece's new Golden Visa policy implemented, entering the era of "three parallel tracks" for property investment immigration
Effective September 1, 2024, the new Greek Golden Visa policy was officially implemented. The investment threshold for residential properties in Athens and core areas rose to 800,000 euros, while the investment amount for property purchases in other regions across Greece starts at 400,000 euros. The 250,000-euro property purchase option is now only permitted for "commercial-to-residential" conversion projects. According to the new act, if investors choose to invest in properties converted from commercial to residential use, such as shops, factories, or hotels (if industrial in nature, the permit requires a 5-year vacancy period before the change), and the permit change must be completed before submitting the Golden Visa application, they can still maintain the minimum investment amount of 250,000 euros. Like the old policy, this allows the whole family of three generations to obtain Greek permanent residency in one step. In 2024, Greece's property investment immigration entered the era of "three parallel tracks," introducing the new 250,000-euro "commercial-to-residential" investment pathway, which has become a focal point of the market.
03
Portugal promulgates new Nationality Law, launching the most convenient naturalization act in EU history
On April 1, 2024, the Portuguese Parliament officially passed an amendment to the "Nationality Law," allowing Golden Visa applicants to apply for naturalization after 5 years from the first day of submitting their immigration application. Previously, applicants were required to hold the card for a cumulative 5 years after approval before they could apply for naturalization. The amendment to the new Nationality Law applies to all applicants who have not yet submitted a naturalization application, and investors who have already submitted their Portuguese immigration applications can also enjoy this favorable policy. In 2024, Portugal's new Nationality Law came into effect, launching the most convenient naturalization act in EU history, making Portugal one of the few EU countries where the speed of naturalization is faster than that of permanent residency, and it is widely welcomed.
04
Malta Permanent Residence Programme announces price hike, increasing investment threshold
On November 19, 2024, the Residency Malta Agency suddenly issued an official notice to comprehensively revise the existing Malta Permanent Residence Programme (MPRP), with the new price hike policy officially taking effect on January 1, 2025. According to the new regulations, for investors choosing to purchase property, the minimum purchase value must reach 375,000 euros; for applicants choosing to rent, the minimum annual rent must reach 14,000 euros; furthermore, government application fees have been increased simultaneously. In 2024, the series of adjustments to the Malta Permanent Residence Programme policy significantly raised the entry threshold compared to the old policy.
05
Hungary investment immigration restarts, introducing diverse "Golden Visa" acquisition methods
On January 1, 2024, Hungary's "Act on the General Rules for the Entry and Residence of Third-Country Nationals" was officially implemented, restarting the Hungarian investment immigration program, and officially accepting applications from July 1, 2024. According to the new act, applicants can obtain a 10-year valid and renewable "Golden Visa" through three pathways: first, investing at least 250,000 euros in a government-designated real estate fund; second, investing at least 500,000 euros in real estate; and third, donating 1 million euros to a designated educational or cultural institution. Furthermore, after meeting the conditions, applicants can transition to permanent residency and naturalization; however, 5 months after the program's launch, on December 20, the Hungarian government urgently announced the closure of the 500,000-euro property purchase investment pathway. In 2024, Hungary's investment immigration restarted after a 7-year hiatus, introducing diverse "Golden Visa" acquisition methods, among which the property purchase immigration option was unexpectedly closed before it even began, becoming a major focus of market discussion.
06
Nauru launches a brand-new investment citizenship program, becoming a new hotspot for Commonwealth country immigration
On November 13, 2024, the Nauru government promulgated the "Nauru Economic and Climate Resilience Citizenship Act 2024," officially launching a brand-new investment citizenship program for global investors. Under this policy, investors can apply for a Nauru passport, a Commonwealth country, for the whole family of three generations by donating directly to the Nauru National Treasury Fund, starting from just $105,000. This is the restart of the Nauru investment citizenship program after 21 years, and it is another rapid passport program implemented by a Pacific island nation through legislation following Vanuatu. It has attracted significant attention from global investors, and the launch of this project has opened up a new low-cost, fast-track pathway for global investors to obtain a second passport, becoming another new hotspot for Commonwealth country immigration in 2024.
07
Australia's investment immigration program suddenly closed, sparking widespread discussion in the immigration industry
On May 14, 2024, Australia officially announced the 2024-2025 new fiscal year federal budget, announcing the closure of the Australian Business Innovation and Investment Program (BIIP), with the 188 investment immigration visa being permanently closed from July 2024, and no new applications being accepted. For investors who have already submitted applications, the Australian Department of Home Affairs promised to continue processing them and allowed investors to apply for withdrawal, with the government refunding the application fee. By December 7, 2024, the Australian government announced the launch of the National Innovation Visa (NIV), opening a fast track for applicants to directly obtain an Australian green card, in order to attract outstanding global talent to enter Australia. In 2024, the sudden closure of the Australian investment immigration program marked the official exit of the traditional Australian investment immigration project from the historical stage after decades, sparking widespread discussion in the immigration industry and among investors.
08
Canada's immigration policy undergoes major changes, with selection scores for multiple programs hitting record highs
In 2024, in order to reduce permanent residency quotas, the Canadian immigration authorities adjusted or closed multiple immigration programs, such as: adding a French Level 7 requirement to the Quebec Investor Program; introducing an EOI system for the Alberta Employer-Driven Immigration; increasing the language requirement for the Saskatchewan Entrepreneur Immigration to CLB5; limiting the federal SUV program to a maximum of 10 letters of support per designated organization per year, and changing closed work permits to open work permits; suspending federal self-employed immigration applications, Quebec PEQ, and Quebec regular skilled worker immigration; and closing the Ontario Entrepreneur stream, etc. In addition, the Canadian immigration authorities also focused on limiting the number of local temporary residents, adjusting policies for study permits, work permits, and visitor visas. Specific measures included: setting an annual quota cap for international students, adjusting graduate work permit policies, announcing new LMIA policies for temporary foreign workers, strengthening LMIA audits, closing the in-country visitor-to-worker transition, closing border work/study permit applications, and adjusting the 10-year multiple-entry visitor visa policy, etc. In 2024, Canada's provincial and federal immigration policies were frequently adjusted, and selection scores for multiple programs hit record highs, further accelerating the pace of closing the door to convenient immigration to Canada.
09
Hong Kong relaxes investment immigration program, major adjustments to some talent introduction schemes
On October 16, 2024, the new "Policy Address" of the Hong Kong SAR government pointed out that the New Capital Investment Entrant Scheme would be optimized, allowing investment in residential properties from that day on, provided that the transaction price of the property is HK$50 million or above, and the investment in real estate counted towards the total investment amount is capped at HK$10 million. This decision marks the reopening of the gate for property investment in Hong Kong after 14 years. At the same time, the Hong Kong government announced that the "Top Talent Pass Scheme" would expand the list of mainland prestigious universities, and the initial visa for Class A applicants would be extended to 3 years; the "Quality Migrant Admission Scheme" cancelled the traditional scoring system from November 1, 2024, and switched to a new 12-item standard checklist system. In 2024, Hong Kong's relaxation of the investment immigration program and the "one relaxation, one tightening" approach to talent introduction schemes have attracted high market attention.
10
Five Caribbean countries suddenly change immigration policies, investment amounts soar
On July 1, 2024, the passport processing prices for the five Commonwealth countries in the Caribbean region—Saint Lucia, Saint Kitts and Nevis, Antigua and Barbuda, Dominica, and Grenada—were officially and comprehensively increased, with the minimum threshold raised to US$200,000. Among them, Saint Lucia starts at US$240,000, Saint Kitts and Nevis starts at US$250,000, Antigua and Barbuda starts at US$230,000, Dominica starts at US$200,000, and Grenada starts at US$235,000. Compared to the old policy, the minimum investment amount for immigration to the five major popular Caribbean countries directly doubled in 2024, and the investment threshold was significantly raised, sparking widespread discussion in the market.
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