Core Perspective - The "Golden Visa" system in Europe is undergoing a fundamental transformation, marking the end of an era where residency could be easily obtained through capital investment [1][3] Group 1: System Changes - The shift from attracting funds to screening for value is driven by pressures from security reviews and housing crises, leading to stricter regulations on investment immigration [3] - Countries like Spain have already closed popular investment immigration programs, such as the €500,000 real estate investment option, reflecting a significant policy shift [3] Group 2: Country-Specific Developments - Greece has raised its investment threshold significantly, with the minimum for property purchases in popular areas now set at €800,000, while maintaining a €250,000 option only for complex projects [3] - Portugal has transitioned from a "buying paradise" to a focus on non-real estate investments, such as technology and cultural contributions, with a new €500,000 investment option [5] - Hungary has introduced a "Visitor Investor Program" allowing residency through a €250,000 fund investment, attracting applicants from traditional countries [5] - Italy encourages investments in innovative enterprises and cultural projects, with investment amounts ranging from €250,000 to €2 million, appealing to high-net-worth individuals seeking tax optimization [7] - Malta's Permanent Residence Program remains stable but costly, targeting high-net-worth families seeking comprehensive solutions [7] Group 3: Future Trends - The trend indicates a diminishing space for purely financial investors, with a growing preference for "value participants" who contribute to technology, culture, and employment [7] - Current investment options in Greece, Portugal, and Hungary may represent the last clear opportunities, as EU policies continue to tighten and unify [7][8] - The era of easily obtaining European residency through financial means is over, necessitating more thoughtful planning and genuine value investment for future applicants [8]