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February 17, 2025 | 12:27pm
MANILA, Philippines — Stunning landscapes, beautiful beaches, delicious food, vibrant culture, and for other previously Spanish-occupied countries like the Philippines, a shared history, language and traditions – these, according to the government of Spain, are among the reasons why the country is the second-most visited in the world, next to France.
A pleasant all-year-round climate, active Mediterranean lifestyle, diverse cuisine, security, and employability are among foreigners’ considerations for making Spain their second home, said the Marbella International University.
Spain, however, has confirmed the elimination of its Golden Visa program by April 3, 2025.
Launched by Prime Minister Mariano Rajoy in 2013 as an answer to Spain’s banking and property crisis, the Golden Visa offers a flexible residence in Spain and a visa-free European Union travel option for foreigners who either purchase at least €500,000 (over P30 million) in property, made a €1 million (over P60 million) or more deposit in a Spanish bank, or invested in a new business offering employment for locals.
Nevertheless, the Golden Visa resulted in housing shortages, escalated cost of living and restricted access to certain areas among locals through the years, prompting Spain to eliminate its Golden Visa for new applicants.
With Spain’s Golden Visa gone soon, Portugal is now a top Golden Visa destination, said leading residency-by-investment consultancy firm Golden Visa Centrale.
Vicky Luis, Golden Visa Centrale’s founder and president, said in a roundtable interview with media, including Philstar.com, that there is a growing shift in Filipino investor preferences looking beyond traditional real estate investments.
“This trend is also driven by rising interest from young professionals who see Golden Visas as a pathway to global mobility, investment diversification, and passive income generation. Popular destinations like Portugal and Greece continue to attract Filipino investors due to their streamlined application processes, attractive living standards, and visa-free Schengen travel,” Luis said.
Living and traveling in Portugal is “very nice,” said Luis, because of connectivity, safety and low cost of living, among others.
“So Portugal, if you search it's one of the safest countries in the world. The cost of living is low,” she attested. “Healthcare is free. Education is also free for people. It's beautiful, very high tech… it has beachfront schools. Some are the best schools in Europe…”
After Portugal, Luis said her company is also set to open services for Golden Visa processing in Greece with a “guaranteed 5% yield” for a property investment, which she said she has personally experienced. This is on top of Greece being a top tourist destination for its history, Mediterranean lifestyle and beautiful landscape.
For those who want to know more about Golden Visas in Greece and Portugal, Luis invites those interested to the following free consultation events:
- Februrary 26, 2025 | 5:30 p.m. | Rizal Room, Manila House, Bonifacio Global City, Taguig
- February 27, 2025 | 1:00 p.m. | Mt. Fuji, Manila Polo Club, Makati City
- February 28, 2025 | 9:00 a.m. to 6:00 p.m. | Horizon Club Lounge | Shangri-La at the Fort, Bonifacio Global City, Taguig (by appointment only)
To register, contact Luis at +639178561237 or [email protected].
Having a Golden Visa, according to Luis, widens one’s options for mobility, especially during instances like COVID-19 pandemic lockdowns.
“When you get the passport, you can leave Portugal and live in the 27 European countries, and each of you can make a decision like you want to be in Spain, I want to be in Portugal, the other one wants to be in Paris, so it gives you a lot of options. It opens up the world to you.”
